Best Property Management Software for Landlords

As a landlord or real estate investor, property management software can save time and hassles. The best property management software for landlords includes accounting software that accepts online payments, sends invoices, tracks expenses, and sets aside tax funds. However, property management software will also include additional features unique to landlords. It can help you to find tenants, screen them, and even manage their maintenance requests and monthly payments. 

Read on for the best property management software solutions for your properties. 

7 Best Property Management Software for Landlords

The property management software solutions below are designed specifically for landlords. There are various options, whether you own a single rental property, hundreds, or anything. Here is an overview of the top choices.  

Yardi Breeze

Yardi Breeze pioneered cloud-based rental property management software services with excellent features and minimal costs. Plans start at $100 a month. It is a good fit for mixed portfolios of commercial and residential holders.

Pros of Yardi Breeze

  • Simple to use
  • Good for both commercial and residential landlords
  • Unique features
  • Free training 
  • Good customer support

Cons of Yardi Breeze

  • No mobile app
  • It still gets a few customer service complaints

TurboTenant

TurboTenant offers a pricing model in which the tenant pays the costs. For that reason, it’s free for landlords. This cloud-based property management software offers tenant tracking, building maintenance capabilities, and other premium features like automatically sending vacancy listings to multiple sites.

Pros of TurboTenant

  • Free for landlords
  • A simple solution for new landlords 
  • 24/7 customer support by phone and online

Cons of TurboTenant

  • Tenants have to pay, so you may need to reduce the requested rent to compensate
  • Few advanced features
  • You’ll have to pay extra for optional services

AppFolio

AppFolio is a popular option for landlords with large rental portfolios. It offers advanced features like allowing you to control units remotely. AppFolio also offers support and resources to take a rental business to the next level and maximize efficiency. It includes agile technology built to scale, industry-leading AI, and robust accounting and reporting.

Pros of AppFolio

  • Get customized plans based on property type
  • Supports all types of units
  • Advanced AI management
  • Agile technology built to scale
  • Excellent mobile app

Cons of AppFolio

  • You’ll have to pay a minimum monthly fee
  • Not a good choice for landlords with a few properties
  • Not BBB accredited 

MRI Software

MRI Software is one of the best software options for landlords who manage commercial properties. Great for apartment communities, condos, hotels, and other commercial properties. MRI software can help with investment management, lease abstraction, space management, strategic planning plus analysis, and public housing compliance.

Pros of MRI Software

  • Reliable company with a long history
  • Multiple advanced features 
  • Easy to use

Cons of MRI Software

  • You’ll need a customized quote

SimplifyEm

SimplifyEm was designed by real estate professionals to offer a balance between price and features. It’s a great choice for landlords starting with a few properties or who are beginning to grow their business. Pricing starts at just $35 a month for up to 10 units. 

Pros of SimplifyEm

  • Designed by real estate professionals
  • Great for landlords with up to 2,000 units
  • Low cost
  • Helpful advanced features
  • 15-day free trial

Cons of SimplifyEm

  • Not compatible with more than 2,000 units

Propertyware

Propertyware is designed for landlords whose units are single-family homes. Pricing starts at just $1 per monthly unit plus start-up, but you’ll need a quote. It’s one of the most comprehensive, customizable property management solutions available today that can scale with your business. 

Pros of Propertyware

  • Easily manage large portfolios
  • Excellent mobile app
  • Multiple pricing tiers

Cons of Propertyware

  • It received some customer support complaints
  • Best for large portfolios
  • Higher monthly fees

Buildium

Buildium is an excellent choice for association and residential property managers and owners. It comes packed with features and allows you to control every aspect of the business remotely. Built by property managers for property managers, Buildium offers comprehensive services.

Pros of Buildium

  • Practical tenant portal
  • Automatic rent collection 
  • Online ticket support during business hours
  • Excellent training materials 
  • Free 14-day trial

Cons of Buildium

  • Expensive pricing 
  • Some customer support complaints
  • Not a good choice for single-home property managers

What Is Property Management Software?

Property management software can include solutions from small software for managing a single property to hotel management systems. These software solutions are used for real estate, landlords, and even hospitality accommodation management.

Rental property management software specifically includes various tools useful to landlords, from attracting tenants to finalizing lease contracts. The software may integrate communication features so managers and tenants can discuss maintenance requests or send announcements. Rental property management software usually includes accounting features. 

Why Should Landlords Invest in Property Management Software?

Property management software can save time and costs while improving efficiency. It can be useful for everyone, from investors with a single property to commercial property businesses. The software can make it easier for a team of users, such as an owner, property manager, facility maintenance provider, and leasing agent, to coordinate with each other and interact with tenants easily. 

How to Choose Property Management Software for Landlords

Whether you invest in real estate as a passive income side hustle or as a real estate agent, automating systems can save valuable time. If you’re deciding on property management software, consider the following features:

Automated Rent Collection and Payment Processing

Automatic payment processing is simpler for you and your tenants. Consider various payment options, automated invoices, and/or bank transfers or credit card processing to ensure you collect full rental values each month. 

Tenant Screening and Background Checks

Tenant screenings and background checks protect your rental property and can save you time and losses down the road. Most good property management software solutions include screening or background check features. 

Maintenance and Repair Tracking

Maintenance and repair tracking can make coordinating with maintenance teams or management staff simpler. Syncing and automatic notifications can make these features even more desirable. 

Document Management and Storage

Keeping all documents in a single location ensures that all paperwork, from lease contracts or permits to tax filings, is easily available when needed. Storage systems with password protection and backups ensure you never lose any important document. 

Financial Reporting and Accounting Tools

Financial reporting and accounting tools are the foundation of many property management software systems. You can track income, expenses, tax filings, and more. Or, learn why you could use doola books here

Lease Management and Renewals

Lease management and automatic renewals will save time and hassle in retaining tenants. It is one more automation to save you time. 

Grow Your Property Management Business with doola

Property management software for landlords can save time, automate processes, and reduce vacancies or losses. Carefully consider the property types and software features to choose the best fit for your property needs. 

If you haven’t yet formed a property management company for investment, doola can help. It offers fast and efficient business formation and compliance services so you can protect your properties and grow your business. Find out more about doola’s formation services here!

FAQs

Can property management software help me attract and retain tenants?

Yes, property management software can help you attract and retain tenants. Depending on the software, it can help you find and screen tenants and manage lease contracts. 

Is property management software secure?

Yes, property management software is secure. The options above offer exceptional value and security for vital information related to your rental properties. 

Can property management software integrate with other systems I use?

In some cases, property management software can integrate with other systems you use. In other cases, these software systems are a stand-alone solution. 

How much does property management software cost?

Property management software costs range from $10 to $250 a month. However, this varies widely by the number of properties and the features available through the property management software. 

Is property management software suitable for single-property landlords?

Yes, even single-property landlords can benefit from property management software. It can help you screen tenants, automate rental collection, manage lease contracts, and more.

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