5 best property management software for real estate professionals
1. MRI Software
MRI Software offers cloud-based software and an app for mobile devices. Its sophisticated property management solution is used by over 10,000 real estate professionals across the globe.
What’s great about this software is that it can be used for commercial property, residential, and student housing properties, ideal if your real estate business includes all of these.
It says its goal is to increase property occupancy while at the same time reducing costs. That’s music to a property manager’s ears. But what other key features does MRI Software offer? Here’s a list of the top features to look out for.
Key features:
Online payments
Insurance management
Expense management
Maintenance tracking
A landlord and tenant database
Integrated accounting
Electronic signature solution
Rent and vacancy tracking
Late fee calculator
Pricing: It offers a wide-range of options, so doesn’t offer general pricing information. You can request a free demo and inquire for more information on their website.
2. Buildium
Buildium offers a unique perspective on property management software, because the company first started out by managing properties. They now specialize in residential properties, rental property, affordable housing, and student housing.
It gives you a quick and easy way to manage your property portfolio, with an easy-to-use interface and system. You can use this software for several tasks, including managing finances, overseeing maintenance requests, and helping to screen tenants.
Key features:
Online rent collection
Integrated accounting
Property inspection tools
Tenant screening
Communication portals for owners, residents, board members
Leasing tools, e.g, auto-fill templates, e-signature
Renters insurance
Marketing tools
Pricing: Buildium starts at $50 a month, but each additional feature may cost more. If you require more than 100 units, you can customize your plan.
3. Appfolio
Appfolio property manager software is cloud-based and also features an app that can be used on any smart device. It has diverse features and is popular among property managers for managing assets and financial data.
The platform was designed to streamline processes, making for a more effective and efficient workflow. You can manage a range of property types through this software, including multifamily and single-family properties.
Key features:
Rent payment collection tools
Maintenance requests/tracking
Accounting software
Marketing tools
Customizable online leases
Owner portal
Property inspection tools
Tenant screening
Utility billing
Pricing: A $400 onboarding fee. Then, various monthly plans are available depending on the type of properties you deal with, with a minimum monthly fee of $250.
Property managers with at least 50 units may find this to be more cost-effective, as the per-unit price ranges from $0.80 to $1.50. However, it can be more expensive for those with fewer units.
4. Yardi Breeze
Yardi Breeze describes itself as “refreshingly simple software.” It’s a cloud-based platform, but doesn’t offer an app like many others. It’s useful for various property types including residential, commercial real estate, rental property, self-storage, housing association, and affordable housing.
Its unique features make it a favorite with property managers. It has a simple system and easy-to-use interface, along with a customer service team that’s on hand to help with any issues.
Key features:
Online rent collection
Rental application screenings
Integrated accounting
Investment management
Maintenance requests with option to attach photos
Renters insurance
Tennant communication portal
Activity calendars
Marketing tools
Pricing: It starts at $1 per month, per unit, with no setup fees. Minimum monthly spend is $100 for residential properties and $200 for commercial and mixed properties. Upgrade to Breeze Premier, which has a range of additional features at $2 per unit, per month.
5. Tenant Cloud
Tenant Cloud is a very mobile-friendly platform that was created with the aim to help landlords manage their property portfolio. It’s a cloud-based service with a mobile app, so it can be accessed from anywhere—ideal for landlords with a growing property portfolio but no office base.
Property managers also use this software, namely because it’s one of the most cost-effective on the market. If you have fewer than 500 units, then Tenant Cloud may be the best option.
Key features:
Online payments
Integrated accounting
Maintenance requests
Marketing tools
Automatic invoicing
Residential lease templates
Tenant screening
Insurance reminders
Property analysis reports
Pricing: Tenant Cloud is one of the only property management software companies to offer a free tier up to 75 units. Ideal if you just want to test out the software before you commit, or if you have only a small number of units.
Their standard tier is $9 a month for 150 units, and their premium tier is $35 for up to 500 units and additional features.
