Property Management Software

Get the best property management software for your business. Compare product reviews, pricing below. Read our buyer’s guide for more help.

Popular Products

Buildium is the only property management software designed by property managers for property managers. Buildium’s all-in-one, cloud-based solution allows property managers to be more efficient and take control of every aspect…
Price Range
$ $ · · ·
Starting Price
$45/month
Deployment
Hosted (cloud-based)
RIS is a full featured solution for Residential and Commercial property managers. RIS includes functionality that allows you to better manage your vacancies, legal cases and lease renewals along with managing the finances for…
The leader in on-demand property management software, Propertyware empowers landlords and property management companies with the next-generation tools to drive optimum profitability from their real estate investments. Our…
Platforms
Web
Deployment
Hosted (cloud-based)
Property Boulevard is the most comprehensive, yet easy to use software for property management ever created. The differences between Property Boulevard and our competitors are so great and fundamentally important, that we are…
Price Range
$ $ $ · ·
Platforms
Windows
Deployment
Hosted or Local
AppFolio provides mobile, all-in-one property management software for multifamily & single-family, commercial, student housing, homeowners & condo association, and mixed portfolio property managers to effectively market…
Price Range
$ $ · · ·
Starting Price
$250/month
Platforms
Web
Deployment
Hosted (cloud-based)
Extensive industry knowledge allows AMSI to deliver proven, business-specific software solutions with experience built in. AMSI’s domain experts in property management have the know-how to help customers nationwide address…
Price Range
$ $ $ · ·
Platforms
Web, Windows
Deployment
Hosted or Local
Yardi Voyager property and asset management is an intuitive, browser-based program that provides integrated, comprehensive management and accounting functions. The centralized database offers the ability to handle…
Price Range
$ $ $ · ·
Platforms
Web
Deployment
Hosted (cloud-based)
Property Management brings you everything you need to manage, track, bill and report on your property management activities . Working within a single unified system with Microsoft Dynamics GP, Property Management can…
Price Range
$ $ $ · ·
Platforms
Windows
Banyon Property Management will help your community track information about properties like: legal descriptions, building information (bedrooms, baths, sizes), zoning information, owner information, and violations. Modules…
The focus of PM2000 is to provide Property Managers with a highly powerful yet easy to use, software solution with all the Property management capabilities that other systems lack. PM2000 is a robust, Windows-based Property…
Platforms
Windows
The GraVoc Property Manager is a front-end, multi-user application that manages all aspects of your apartment rental processes and integrates with many of the most popular back-end accounting applications. The GraVoc Property…
ePartners PHAMS enables you to maximize HUD funding to empower the people that depend on you most. Manage your employees, tenants, units, other assets and unique reporting requirements with ePartners Public Housing Authority…
PROPERTY MANAGER is a powerful, easy to use, and cost effective accounting package designed for the effective and efficient management of commercial, residential, retail, and condominium properties. Its unique, three-tiered…
RAM’s lease management tool provides complete control of both finance and operating leases. It will prove invaluable to all companies that incorporate a leasing policy for asset purchases or require better controls on asset…
Platforms
Web, Windows
Deployment
Hosted (cloud-based)
MRI Commercial Management improves internal efficiencies and provides precise information that delivers deep visibility into past and future performance, and enhances decision-making on an ongoing basis for owners and…
Deployment
Hosted or Local
OneSite Leasing & Rents is a comprehensive, web-based solution that manages the complete renter lifecycle. In addition to providing you with powerful financial tools, it automates property leasing, management, compliance and…
Price Range
$ $ $ · ·
Platforms
Web
Deployment
Hosted (cloud-based)
Yardi Enterprise records and reports on all aspects of property management. This unique program integrates data from such fields as accounting, maintenance and gross potential rent - for everything from single unit rentals to…
Platforms
Windows
SKYLINE Property Management software sets the industry standard for excellence in commercial, retail, residential and industrial property management. SKYLINE allows you to capture a wealth of historic, present and future data…
123Landlord makes it unbelievably easy to manage all of your tenants & properties, collect payments and track rent due, and keep everything accessible any time, from any computer or device! Manage Tenants & Properties - Store…
Platforms
Windows
ACCUCert is an industry leader in a Windows-based Tax Credit compliance application which includes NCSHA’s recommended practice forms, wizard-based application processing, and customized TICs. ACCUCert may be delivered as a…
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Property Management Software Buyer’s Guide

Running a successful property management operation is no small feat. Any number of business challenges keep property managers awake at night. How to fill vacancies? What can be done to ensure timely, full rent collection? Will property repairs, acquisitions, or improvements justify the return? To complicate things just a bit further, owners and investors want to know the answers too! After all, they know they have options. Savvy property management companies are increasingly utilizing robust software solutions to gain a competitive edge.

This guide offers information on the following topics:

What Is Property Management Software?

Property management software helps manage tracks income and expenses involved in managing properties, such as collecting rent and proper maintenance.

What types of business challenges do property management software options address? Another way to ask that might be: What types of challenges do you have? The reality is that where there exists a need, the software market has responded with sophisticated, software-based solutions. There are property management solutions that address back-end accounting, payment processing, investment management, tenant tracking, work orders, complex reporting, and beyond.

Features

Let’s take a closer look at some of the most important capabilities provided in property management software programs:

Functionality Definition
Accounting Handles check writing, management of receivables and collections, bank reconciliations, top-level financial reporting, and fixed asset depreciation.
Rent collection A more industry-specific accounts receivable module that allows access to payment portals and the ability to establish electronic (ACH) payments. Options can also keep track of which payments cover fees and security deposits more manageable.
Tenant management Provides a central repository for tracking tenant information and optimizing the relationship. Allows the storage of data such as contact info, payment and service history, renewals, rent increase schedules, and beyond. Tenant screening functionalities can also be available to analyze credit data and criminal histories.
Work order management Manage service work, preventative maintenance, and unit prep work. Helps coordinate work performed with internal staff, in addition to work subcontracted to outside vendors. Scheduling features optimize availability of labor and equipment to make sure work is being performed as efficiently as possible.
Property tracking Track property assets and value, vacancies, tenant histories, property descriptions, previous improvements, and work, as well as ownership and investment information.
Investment management Track and report on ownership and investment data. Track investments, handle disbursements, and even identify new investors. Online owner portals provide owners a snapshot view of their investment data.
Prospect tracking Allow automation of much of the work related to finding new tenants including databasing contact info, posting vacancy ads, scheduling showings, and coordinating with interested potential tenants. Can be thought of as an industry-specific CRM software module.

Benefits

Robust property management solutions are becoming increasingly more accessible. Many features, which just a few years ago were reserved for only the most sophisticated, enterprise solutions, are now available to property management businesses of all sizes and software budgets. Software providers are leveraging many of the following tools to help property managers run their business more efficiently:

  • Business intelligence dashboards
  • Web portals
  • Automation features
  • Improved system integration
  • Customizable alerts
  • Mobile access

What Does Your Business Need?

Property management companies come in all shapes and sizes of course. That’s a big part of the reason there is no one single answer to which property management software is the best. If you’re managing a large portfolio of industrial or office-oriented commercial space, your needs are different than if you manage a small set of single-family residences. Still, there are many common challenges. No matter your needs, software solutions are being designed to reinforce operating best practices and help your company become more profitable.

  • New buyers and small businesses: These businesses, or even a single individual, may manage one or more single family homes and/or a small apartment complex. Getting started with an accounting system that can handle collecting rent payments, and tracking the basic expenses involved with being a landlord (such as general maintenance) will allow you to see how much profit you’re making in your investments.
  • Managers desiring functions beyond basic property management: Companies that are managing multiple different buildings and a larger amount of units are going to desire functionalities to not only help save money but also make their lives easier. Advanced property management options include portals for tenants to log in and pay rent, submit maintenance requests, sign leases, and more. The system may also include a service portion, which will including a scheduling tool to ensure the proper maintenance workers are taking care of pressing issues at various locations as they occur.
  • Large companies: If the business is a part of a larger corporate real estate entity and manages thousands of units, you’ll likely look for an enterprise level property management option or perhaps a complete ERP software option. The solution will need to be synced in with some real estate development features, as businesses of this size tend to have a development division and look to expand into new areas and properties. A strong focus should be put on reporting functionalities that can help the business make better decisions and lower costs.

Best Products

AppFolio screen

AppFolio (pictured above) is a solution for small to mid-size property management firms. They pride themselves on being more affordable and completely web-based. They allow the management companies to create professional looking websites that can easily post details and photos of vacant units, let tenants pay bills online, and submit maintenance requests. The solution requires a minimum of 50 units for implementation and pricing starts at $1.25/unit/month.

Buildium is a solution designed by property managers. It is a complete solution that handles property accounting, company financials, reporting, as well as handling online payments and both a tenant portal and an owner portal. The solution is recommended for businesses with 100-5000 units and pricing starts at $150/month.

Does QuickBooks Work?

Using QuickBooks as a property management tool is possible for a property manager handling small to midsize properties. Desktop versions of Quickbooks allow you to set up company and customer files as various properties. This will allow you to handle tasks such as collecting rent from tenants and paying property owners and management companies, on top of any fees involved in property maintenance.

The above video demonstrates just how you can set up your Quickbooks Desktop to manage buildings and units within them.

If the property management business is comprised of several large properties or multiple complexes, it is advised you look into a more advanced system. A professional property manager could be better off finding a trust accounting system. Once rent is received from the tenants, it needs to be disbursed to the property owners. This money should be kept in its own account and separate from any account that is used to pay expenses. Any money also received from the owners for the work you’ve done (your management fee) should be put into your own account. QuickBooks lacks this type of account management and is why it can be difficult to manage multiple properties using QuickBooks.

Common Pain Points

  • Dealing with Vacancies. In order to ensure full ROI on your property investment, you’ll want to ensure any available units are leased out and empty units do not stay empty long. Most software can also set reminders to let you know when units are 60 days from a lease expiring, which can prompt you to handle a renewal with a current tenant, or get a unit listed on the market. Look for property management software that lets you manage your rental listings via popular property listing websites (such as Craiglist or Apartments.com) as well as maintain up to date and accurate information on available units on any company website or Facebook page you may manage.
  • Timely response to maintenance issues. Many tenants may feel dissatisfied with their property manager if they are slow to respond to repairs and other issues in the unit. A quality property management software will not only allow for work orders to be created, but it will include a level of interaction between the tenant and landlord. Online portals can let tenants submit a maintenance request on their own time, and also let them monitor the response. Rather than leaving a message on an answering machine after office hours, the tenant knows that their work order has been digitally received, and later accepted and assigned to a technician. At the office, it lets you assign various levels of priority, from a routine drywall patch to an emergency flooding situation, and ensure it’s been handed off to an appropriately skilled technician who can go on site.
  • Properly managing the “hidden” finances. Security deposits that are collected will need to be returned to a tenant once they have moved out, sans any money withheld for needed repairs the tenant may be responsible for. A smart property management solution can help pave the way for these funds to be kept in a separate bank account that accumulates interest, or some other investment account. The solution will also make sure the appropriate taxes are calculated and taken care of by year-end or track any sort of depreciation on assets (such as the buildings themselves).
  • Knowing your demographic. Customer service has become a lost art in property management, but keeping your tenants happy is the best way to ensure they resign a lease and keep the money flowing in your direction. Not only that, but the demographics for renters is skewing younger and younger. And tenants in a younger age bracket will often want high tech solutions. Ignoring this demand puts your company at risk of appearing outdated and thus unattractive to a renter.
  • The prevalence of mobile technology. Almost everyone is connected in somewhere to the web. In today’s day and age, it’s hard to imagine a property management company operating without a website. And now, software solutions are starting to offer mobile apps for tenants and prospects. These mobile apps should allow the tenant to have all the functionality they are used to on a company website, such as paying rent, reviewing lease terms, and submitting work orders. For prospects, they should be able to view apartment availability and submit applications.
  • Augmented and virtual reality. Many industries are jumping on the virtual reality wagon, so much that it’s projected to become a $29.7 billion dollar industry. And real estate is starting to take advantage of this. Companies like Matterport already allow for 360-degree visualizations of homes to be created. Special cameras pick up every aspect of a room and give prospective tenants the ability to go on a 3D virtual tour of a listing. Similar to Google Maps’ street view, you can drag and drop your mouse to get the exact view you’d like of a room, instead of relying on the photos posted on the property management website. Property managers don’t need to gain access to any special technology to have these features available in their listings. Companies like Facebook now allows for 3D and 360 photos to be taken with any mobile device and grants anyone the ability to “move” around the photo.