Rental Property Management Software

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

Popular Products

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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
$47/month
Client OS
Web, iOS, Android
Deployment
Cloud Hosted
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
Client OS
Web
Deployment
Cloud Hosted
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…
Client OS
Windows
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. This…
Price Range
$ $ · · ·
Starting Price
$250/month
Client OS
Web
Deployment
Cloud Hosted
Full rental life-cycle property management solution for 1 - 100 units. Hemlane automates much of the administration and provides a platform to work with agents, maintenance vendors, owners, tenants etc. more efficiently…
Price Range
$ $ · · ·
Starting Price
$37/month
Client OS
Web, iOS, Android
Deployment
Cloud Hosted
Core Property Management is fully integrated with Microsoft Dynamics. There are several subsets of the software designed to meet the needs of specific types of property management firms including: Integrate finalized lease…
Price Range
$ $ $ · ·
Client OS
Windows
Rental Property Tracker Plus is an easy-to-use,** rental property management tool** with which you can keep track of all your rental units, tenants, rental income and expenses ; organize all your rental activities, tasks…
Price Range
$ · · · ·
Starting Price
$199 (perpetual license)
Client OS
Mac, Windows
Deployment
On-Premises
Successful property managers are those that control the flow of data through their business and are proactive in managing their business. We have designed a business management platform that allows you to control your entire…
P2PM is an affordable, web based rental property management software system for property owners and managers. From a single-family home to multi-unit communities, P2PM delivers the power and knowledge of decades of management…
Price Range
$ $ · · ·
Starting Price
$50/month
Client OS
Web
Deployment
Cloud Hosted
RentPost is an online property management solution that makes it easy for owners to collect rent and manage work orders, and tenants to pay online. Use the Location filters to show only the contacts within a given city. …
Starting Price
$29/month
Client OS
Web
Deployment
Cloud Hosted
PropertyBoss lets you choose the best property management tools for your business whether you manage residential, multi-family, condo/co-op, student or military properties or any combination. An intuitive, yet powerful…
Price Range
$ $ · · ·
Starting Price
$100/month
Client OS
Windows, Web
Deployment
Cloud or On-Premises
Rent Manager is advanced software designed to be completely self-contained with a powerful property management database, integrated accounting, contact management, work orders, marketing solutions, and much more. You no…
Client OS
Mac, Web, Windows
Deployment
Cloud or On-Premises
Property Matrix is a cloud-based property management solution geared towards apartment complexes and multi-family unit properties. It offers a full suite of applications for managing multiple properties: tenant and lease…
Price Range
$ $ $ · ·
Starting Price
$350/month
Client OS
Web
Deployment
Cloud Hosted
Multi-Family Property Management was designed by real-estate professionals, and combines a powerful accounting engine with a complete property management system. It’s perfect for apartments, condominiums, multi-family…
Client OS
Windows
Rent Magic Software Inc. offers three products bundled with great features to suit your needs: Rent Magic On-Premise; ManageUDA Enterprise Online; and ManageUDA Small Business Online. With Rent Magic On-Premise, the data is…
Price Range
$ $ · · ·
Starting Price
$10/month
Client OS
Mac, Windows
Deployment
On-Premises
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…
Starting Price
$13/month
Client OS
Web
Deployment
Cloud Hosted
There has never been a more affordable, easy to use, yet comprehensive software package that gives you the ultimate in property management reporting and control than SPECTRA Property Management Software. SPECTRA Property…
Client OS
Windows
RenTec PM from RenTec Direct, designed for professional property managers, includes all the tools necessary for a professional property management firm to manage and track unlimited properties, owners, and tenants. RenTec PM…
Price Range
$ $ · · ·
Starting Price
$40/month
Client OS
Web
Deployment
Cloud Hosted

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Rental Property Management Software Buyer’s Guide

What is Rental Property Management Software?

Rental property management software combines common needs like rent collection, accounting, and maintenance requests into one system.

Rental property management software automates repetitive activities like rent payment collection, late fee additions, and obtaining lease renewal signatures. Advanced systems feature tenant portals and revenue management.

Cost of Rental Property Management Software

Pricing is typically based on the number of managed units. Additional charges include per rent payment transaction fees, per screening fees, and one-time setup fees.

  • A lower-cost option like 123Landlord has a Basic plan that starts at $7 per month. The Basic plan includes 1 user, 5 tenants, and 5 properties. All plans from 123Landlord feature work order management modules, and tenant and property reports.

  • A higher-cost option like Property Matrix starts at $350 per month with the Standard plan. The Standard plan includes 250 units with an additional cost of $1.50 per unit. More advanced features like ACH payments, e-Signatures, or mobile apps are in the Ultimate or Enterprise plan.

Free Rental Property Management Software

Some rental property management tools are marketed as free, but be wary of hidden charges. Free software is rarely free - someone will be paying for something. Systems marketed as free typically have transaction charges. Your tenants could also be getting data mined for marketing purposes. Free software usually has bare minimum features and is intended to get users in the door, only to advertise paid features.

Examples of free rental property management software include:

QuickBooks for Rental Property Management

Setting up recurring billing in QuickBooks
Setting up recurring billing in QuickBooks.

QuickBooks is great for handling accounting and recurring billing. To set up QuickBooks for renting, list your property as a customer and tenants as sub customers. The sub customers will contain rent invoices and current balance information.

QuickBooks won’t help with work orders, tenant tracking, or other specialized property management features.

If you want to keep QuickBooks as your primary accounting solution and find something that can handle these additional functionalities, look for a solution that will integrate with it.

Common Features of Rental Property Management Software

Rent Collection

Propertyware
Rent payment in Propertyware

Recurring billing is complicated when handled manually. You have to collect and keep track of payments from multiple renters at one time.

Rental property management software handles the rent collection process for you:

  • Tenants receive automated payment reminders.
  • Payments are made online through ACH transfer.
  • Late fees are automatically added as needed.

Extra charges can be added to monthly bills for pet rent, storage lockers, or parking spaces.

Work Order Management

Work order in Buildium
An example of a work order in Buildium.

Manage repair requests from tenants, as well as scheduled preventative maintenance. Prioritize maintenance work based on the severity of an issue.

Within a tenant portal, tenants submit maintenance requests. The request form lets the tenant describe the issue in detail. Management can then assign the request to an employee as well as set a due date.

Preferred vendors are easily added and organized within the system. You’ll have easy access to vendor contact information when you need it.

More Common Features:

Feature Description
Tenant and Lease Management Keep track of tenant information like contact info, renters insurance, background checks, and work order history. Lease agreements can be customized and saved. Leases can be amended to account for extras like pets, storage, and parking.
Application Management Potential tenants can submit an application online and upload references or pet records. With eSignatures, new tenants are able to sign lease agreements online. Background checks are also automated with rental property management software. Check an applicant’s credit rating, proof of income, and past rental history.
Vacancy Management Available units will be automatically posted online to ensure vacancies are filled faster. Notifications are sent to you when a lease is about to expire. Then reach out to the tenant about renewing or setting a move-out date.
Property Accounting Keep track of income from rent collection and expenses from maintenance. Automate payroll for property managers and office staff as needed. Create reports on financials, tenants, and properties.
Applicant Screening Conduct applicant screening to evaluate rent history, credit history, or criminal activity. Screening is always either included in the price or as an additional charge.
Tenant Portal Tenants can pay rent, submit service requests, and view lease agreements online. The portal typically features a community message board and an area for news updates.
Revenue Management Revenue management is primarily used by large property management companies with multiple buildings. It uses historical data and predictive analysis to generate rent prices. Price is affected by factors like move-in date, lease term length, and unit type.

Types of Rental Properties

Residential Properties

Rental property management software is primarily used for apartment complexes. The software also assists with managing single-family home and duplex rentals. The core use of the software will be used to manage lease agreements, track maintenance, and collect rent electronically.

Commercial Spaces

Commercial rental property management software helps owners manage industrial, retail, or office spaces. Common area maintenance (CAM) calculation is an important aspect of these solutions. Costs of maintenance, electricity, and water usage are estimated for shared areas. These costs are then distributed evenly and charged to tenants.

Vacation Rentals

Vacation rental property management software is a completely different solution. Short-term rentals like homes in tourist-heavy areas and lakehouses need to be managed differently. A vacation rental management solution will handle features like booking and housekeeping.

Student Housing

Student housing software also includes accounting, lease management, and work order management. However, there are many other functionalities specific to student housing. Some solutions integrate with campus systems, allowing students to view class schedules or meal plans. Roommates are automatically matched based on each students’ classes or lifestyle.

Types of Property Managers

Landlords with Few Units (Under 10)

Small landlords use rental property management software to keep payment records, organize documents, and track maintenance.

Rental property management software is especially useful if you live far away and need to save time. Communication and payments are handled online, so you don’t have to spend time traveling. Notifications are also automatically sent to tenants about upcoming maintenance or important updates.

Property Owners and Firms with Multiple Buildings or Over 10 Units

Software helps owners and property management firms keep track of multiple buildings. Managing work orders and keeping records straight from every tenant straight will be simplified.

Enterprise property management companies benefit from advanced software features like revenue management. Revenue management automates rate calculations based on historical data and current market trends.