12 Best Property Management Software for Small Businesses in 2024

Property managers are expected to know the ins and outs of everything related to the real estate they’re putting on the market. But, as we all know, expectation is the mother of all frustrations and, in the case of property management, the frustration falls on your shoulders if you are ill-equipped to meet the demands of your tenants.  

This is why investing in property management software might come in handy, especially if you own a small business. With these tools, you can effortlessly tackle everything from listing management and tenant screening to maintenance management and online payment processing.

However, while there is no doubt that these platforms are helpful in optimizing your operations, you might be wondering which one is the best for your business. To help you pinpoint what is the best property management software for your business, we have culled some of the leading solutions on the market, carefully pointing out each product’s key functionalities and value proposition. This way, it is easier for you to narrow down your options.

Good property management goes a long way. In fact, in Buildium’s 2018 State of the Property Management Industry Report, 88% of tenants say that the quality of property management strongly impacts their decision to renew their lease. This was echoed by the 2018 CBRE Global Tenant Survey and to add to this finding, they managed to pinpoint some of the most important factors in building a successful property management relationship.

According to their research, the priorities of tenants are heavily anchored on ease of contact (82%), speed of reaction (78%), follow-up and after-care (61%), resources available (51%), and good technical capability (49%)—tasks that are highly manageable if you put a little time and effort into it.

Source: 2018 CBRE Global Tenant Survey

Moreover, plenty of property management software solutions are now built to help you meet these customer demands. For starters, you can find numerous products that offer customer portals and built-in communication tools to help bridge the gap between tenants and their landlords. These will help customers get visibility into their information as well as effortlessly get in touch with property managers if they have questions about their tenancy. Some can even process rental payments online to make transactions more convenient.

In some cases, property management tools are equipped with maintenance management functionalities that will help you proactively take care of your properties and keep them in top shape for your tenants. Lastly, there are software solutions that give you the option to roll out resident retention programs like scheduled community events, parking perks, discount privileges from local stores, and the like.

As you invest in property management technology, we hope that you keep these factors in mind. But, of course, the features we mentioned are not the only ones you should pay attention to as you assess our list of top 12 property management software for small businesses. Be sure to also check out our guide to property management system features. This should help you get a better idea of essential functionalities that will help you perform all your property management processes.

1. DoorLoop

DoorLoop is a rental property management system created to manage all types of properties such as residential, commercial, student housing, affordable housing, and community associations. It is designed to serve as a one-stop for your operations which can be accessed by owners, tenants, accounting, marketing, maintenance, and other stakeholders. Whether you manage a small community of renters or lead an entire company with various commercial properties, DoorLoop can handle it for you.

DoorLoop

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As a centralized system, it provides numerous functionalities, so you never have to pay for multiple, disconnected applications. It comes with a CRM where you can keep track of tenants, automate rent collection, and even offer renters insurance. Owners can access practically all information related to your operations, from detailed transactions to financial reports. DoorLoop also allows various payment methods which go directly to financial statements that accountants can access.

Key Features of DoorLoop

1. The platform is designed to be a centralized platform where you can manage your entire operations.
2. It houses functionalities for tenants, property managers, owners, landlords, and other stakeholders.
3. The software comes with powerful accounting features which allow you to accept payments, generate financial statements, and create custom reports.
4. You can list your properties within DoorLoop and attract tenants online through custom-branded websites and listings.
5. It can centralize all of your tools through open API and Zapier.

2. Preno

Preno is a user-friendly hotel management software equipped with modern features to help hotels and accommodation providers streamline their business operations. It is a cloud-based app, so you and your employees can access the platform from anywhere as long as you have a reliable internet connection. Use the app on your mobile phone, tablet, laptop, or desktop and get the data you need when you need it.

With Preno, you can merge your back-office and front-office operations to avoid data mishandling and improve the efficiencies of each department or team. When your booking details and processes run on one platform, you can avoid double-booking incidents as well as provide a more personalized service to your guests.

Preno is loaded with features that are helpful in making bookings run as smoothly as possible. Its grid view makes it easy to move bookings using drag-and-drop functions. If you want to note down special events or holidays in your area, you can do so on the grid view as well. There are also features to help facilitate faster check-in and check-outs, offer add-on services or products to guests, and instantly connect with guests via email. Plus, you don’t have to worry about tracking your financials since the app integrates seamlessly with popular accounting software like Xero and MYOB.

Key Features of Preno

1. It allows more control and security with user logs and activity tracking.
2. Group booking management helps you quickly handle large reservations without a sweat.
3. Its custom reporting features let you get to the data you need to make informed business decisions.
4. Consolidate booking information lets you provide faster, more personalized service to guests.
5. You always have access to 24/7 in-app chat support so you can be confident in using the app.

3. Condo Control Central

Condo Control Central is a unified property management software for condominiums. It comes with a comprehensive set of features that go beyond screening applicants, preparing their leasing agreements, and processing their rent payments. The platform also comes with a task calendar that helps managers get a better view of their day-to-day responsibilities as well as a file library that makes it easier to store important leasing documents. Moreover, it facilitates interaction among the management, tenants, and other stakeholders through its built-in communication tools. In fact, it comes with proxy voting tools that let you achieve a quorum at important meetings such as passing a new bylaw and amending declarations.

Condo Control Central also has quite a few auxiliary functionalities that make it easy to aggregate all the possible situations you might encounter in handling a condominium. These tools include package tracking, amenity reservations, event management, and security checkpoint management. Lastly, in case you still feel that this platform has limited features, Condo Control Central is built to integrate with various third-party payment gateways, accounting systems, security systems, and other software.

Key Features of Condo Control Central

1. It is designed to help you fully digitize your property management processes for condominiums.
2. It supports multiple types of online payment methods which makes transactions more convenient.
3. It is equipped with strong security features and consolidates your security logs, key records, parking permits, entry requests, and the like.
4. It has a dedicated online portal where managers can communicate with tenants and other stakeholders.
5. It comes with automated package processing for recipients residing in your condominium.

4. Buildium

Buildium is an end-to-end property management software suite. It is well received for its comprehensive suite of features and for connecting users with property management services. These include services for property listing, property inspection, showings coordination, and many others. Key features include property accounting, company financials, 1099 filing, payments management, board communications, maintenance requests, and renters insurance, among many others. Moreover, users also get a free property management website. With this, property managers will be able to increase their discoverability and reach.

Buildium

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The platform provides communication and engagement tools such as an owner portal and a Resident Center for announcements, account overview, payments, and maintenance requests. It also offers business intelligence tools such as its Analytics and Insights module that allows users to make data-driven decisions as soon as they need to. Aside from integrating with other platforms and services such as Property Meld and All Property Management, it also offers Open API. Hence, users will be able to connect it with virtually any business software. Its pricing starts at $52 per month.

Key Features of Buildium

1. The platform centralizes all property management processes and connects them with easy-to-use financial tools.
2. It comes with communication features for both owners and residents. These can be used for maintenance requests, payments, and announcements.
3. Buildium provides a free property management website that allows users to extend their reach.
4. The software provider offers an Open API for users to connect the platform with virtually any software architecture they need.
5. Users are given access to professional services such as property inspection, tenant screening, and showing coordination, among others.

5. Innago

Innago is a free, easy-to-use cloud-based property management software with great customer service. There’s no commitment to a long-term contract. Besides, its simple UI lets users easily find what they need on the platform, while its 24/7 support helps users address their issues quickly.  This platform is ideal for landlords with small and medium-sized businesses.

Innago

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The platform offers many features, from basic rent collection to more complex background checks. Innago makes it easy for landlords to find the best tenants with its background checks. Meanwhile, landlords and tenants may sign legal and binding agreements with their e-signatures wherever and whenever. Finally, payment is a breeze with the many options available, including ACH and credit card.

Key Features of Innago

1. Subscription does not require a contract, which means landlords have no fees.
2. Tenants and landlords can sign leases online. The agreement is legal, binding, and safe.
3. Innago can send ACH, credit card, and debit card payments to landlords within 24 to 48 hours.
4. Innago allows landlords to do credit checks, criminal record checks, and eviction checks to choose the best tenants.
5. Users don’t have to go through long queues or extended wait times to get in touch with Innago representatives, thus allowing fast problem resolutions.

6. TurboTenant

TurboTenant is a free property management solution that offers standard and advanced features that make rental advertising, application, payment collection, finance management, and maintaining good landlord-tenant relationships easier. Advertise your rental properties to a broader range of clients by posting your properties on leading listing websites Apartments.com, realtor.com, College Rentals, ApartmentAdvisor, and more. You can also easily keep track of incoming leads via the TurboTenant app, as well as respond to potential applicants on the go.

TurboTenant takes applicant screening seriously by giving landlords different criteria to add to their background check requirements. These include eviction checks and income verification to make sure that the applicant is indeed financially capable of renting your property. Templates for state-specific lease agreements and addendums are readily available and easy to modify if you would like to add clauses unique to your terms and conditions. These documents also support e-signature, which is not only more convenient but also makes finalizing the lease contract much faster.

TurboTenant

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And speaking of convenience, TurboTenant offers easy and practical payment options/ You can pay online using credit cards, debit cards, and ACH. You can also customize your payment collection workflow and add rent payments and other fees as recurring payments. This also lets the app send automated reminders to tenants and charge late payment fees. On the other hand, tenants can take advantage of AutoPay, which is a feature that allows them to set their recurring payments on autopilot to avoid payment delays.

Other features include rent reporting, expense tracking, document management, and e-signatures among others. As for its integration capabilities, TurboTenant is partnered with REI Hub for its accounting needs, as well as with the top listing websites for marketing purposes.

Key Features of TuboTenant

1. Designed as a freemium property management solution that caters to small and growing property business owners.
2. The interface is very straightforward and easy to navigate.
3. Landlords can take advantage of automating recurring payments and expedited rent payouts.
4. Comprehensive applicant screening reports including background checks, credit reports, eviction checks, and income verification.
5. Readily available and easily customizable state-specific lease agreements.

7. TenantCloud

TenantCloud is a comprehensive property management system with end-to-end functionalities for landlords. With this platform, users can easily create property listings, manage applicant screening, and process rental payments. It even comes with its own tenant portal so that your tenants can easily monitor their payment history, file for service requests, as well as communicate with landlords. What makes this platform even better is that it has native applications for Android and iOS devices, making the platform easily accessible even when you’re on the go.

TenantCloud

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Aside from the abovementioned functionalities, TenantCloud is also unique for its built-in lead tracking CRM, vendor management, website management, and inspection management. It also has a system where landlords can keep tabs on their service professionals, making it easy to perform repairs and maintenance services.

Key Features of TenantCloud

1. It has end-to-end property management tools for landlords.
2. The platform has built-in document management and financial management tools.
3. It comes with tenant tracking tools that let you manage vacancies, applications, and more.
4. It can connect landlords with service professionals for faster repair and maintenance service provision.
5. It has a tenant portal with auto-pay features and communication tools for easier transactions

8. Hemlane

In the ultra-competitive property markets, Hemlane gives you the edge by providing all the essential property management functions you need in one easy-to-use platform. To ensure that nothing goes amiss in your property operations, Hemlane serves as a unified solution not only for property owners, agents, and managers but also for tenants. With all key users in one page, your property business runs smoothly as possible.

If you need to fill up vacancies on auto-pilot, Hemlane lets you automate the leasing process, from selecting the right tenants to ensuring timely payments, all while making sure to keep them satisfied. With its access to the top 30 property rental websites, all you need is provide the details or let your agents do it for you. It forwards interested tenants to your rental listing website to book showings; not only that: it will also provide an online application with a comprehensive credit and background check, all crucial information to your business.

If you are a property owner, Hemlane connects you with local real estate professionals for specific leasing and management tasks. This lets you avail of nationwide agents and managers who can support you in many ways, from yearly inspection to rental showings.

Aside from a maintenance portal, the platform tracks maintenance requests from start to finish, so all the important information you need is in one place. From the tenants’ end, they can use Hemlane to send messages to landlords, pay rent, and request maintenance.

Why choose Hemlane?

1. It offers a comprehensive solution for lease management.
2. It provides secure, convenient payment processing options
3. The platform has various hassle-free listing creationand management tools
4. It automatically generates income and expense reports

9. FantasticStay

FantasticStay is a cloud-based property management software that equips property rental businesses and vacation rental managers with a unified platform for managing their listings, reservations, customers, client communications, and payment processes. Whether you’re looking to stay on top of your property listings across multiple property and accommodation services such as Airbnb and Agoda, or engage with customers under a unified inbox, FantasticStay lets you get the job done with ease.

FantasticStay offers a number of automation functionalities that can help property managers unshackle themselves and their staff from mundane chores. Simple greetings, reservation confirmations, and reminders can all be automated, thus helping you deliver personalized messages to your tenants. Reservations, email grabbing, list synching, and other responsibilities can also be automated, allowing you to dedicate your time and efforts to improve your business and reach new heights.

With FantasticStay, you can give your guests a smooth experience from booking to checkout. Prospects and customers are given accurate listings and reservation availability schedules, clear round-the-clock communications regarding booking reservations from the professionals at FantasticStay, and fast and secure payment transactions, among others.

Key Features of FantasticStay

1. It serves as an all-in-one property management hub as it provides you with all the tools you need from reservation management to payment processing.
2. It has a unified inbox and 24/7 guest communication module that will allow you and your staff to accommodate customers at all times.
3. It is equipped with a smart reporting feature that lets you analyze your finances and KPIs.
4. It has open API capabilities, allowing you to combine it with any software ecosystem.
5. It has a built-in website builder tool so it is easier for you to create and strengthen your online presence.

10. Building Engines

Building Engines is an easy-to-use and easy-to-deploy property management platform designed for commercial offices, residential real estate, and industrial facilities. It allows users to streamline all their property management tasks through its core modules that include tenant management, building maintenance, security enforcement, and customer engagement. Moreover, it comes with open API functionalities that make it easier to integrate with other business software. With this, you can further consolidate your tasks and manage them from one convenient hub.

Another reason why Building Engines made it on our list is because it has a customizable dashboard that lets you get a 360-degree view of your entire operations. With this feature, you can see tenant satisfaction ratings, financial reports, listing performance, and other statistics at a glance. What’s more is that it comes with automated alerts that will keep you up-to-date on work requests, overdue payments, and tenant applications.

Key Features of Building Engines

1. It has a modular architecture that allows you to extend its capabilities depending on the needs of your business.
2. It serves as a unified platform that aggregates all your property maintenance, tenant management, and security efforts.
3. It comes with a mobile application called BE-Mobile that lets users access and manage critical building information.
4. It has an intuitive dashboard and a pop out search grid that makes it easy to monitor KPIs
5. It is equipped with analytics features that give you intelligent insights on your operations in real-time.

11. BuildingLink.com

BuildingLink.com is a property management tool trusted by thousands of businesses worldwide. It offers a plethora of functionalities ranging from basic resident engagement and property maintenance to advanced key tracking and management analytics. What’s more is that it allows you to secure your properties through visitor permission features. With this at your disposal, you can make administrative processes more efficient.

Like most of the other platforms on this list, BuildingLink.com also helps users with customer retention by using intuitive web portals where residents can view their leasing information. What makes this software unique, however, is that it has a Community Bulletin Board function that will allow your tenants to interact with each other. They can use this to sell, borrow, or buy items from their neighbors, schedule events, or even post announcements for your other customers. This way, you are not only improving landlord-tenant communication but also building a healthy living environment for your residents.

Key Features of BuildingLink.com

1. It allows you to set up digital community bulletin boards where residents can interact with each other.
2. It can support multi-building portfolios so you can consolidate data on different properties.
3. It has an internal messaging module that lets you streamline communication between departments.
4. It comes with a promotion management tool that lets property owners partner with local businesses so that residents can get discounts.
5. It offers an intuitive web portal and mobile applications to help residents access property information, reservation data, and other important details.

12. Yardi Voyager

Yardi Voyager is an end-to-end property management platform for various residential and commercial real estate. Completely cloud-based and mobile-ready, this platform serves as a unified hub where you can automate your property management and accounting processes. From overseeing property maintenance and organizing tenant information to processing payments and tracking insurance policies, this platform can do it all. What’s more is that it can support custom workflows and dashboards for specific roles within your company, making it easier to set access permissions for different employees.

If you still feel like the features we’ve mentioned are too basic for your needs, Yardi Voyager also supports a number of modules to reinforce your processes. Among the many systems you can integrate with this system are CRM and marketing, energy management, facility management, procurement processing, business intelligence.

Key Features of Yardi Voyager

1. It automates everything from lease administration to move-in/move-out processing.
2. It comes with tools that let you keep track of industry regulations for better compliance management.
3. It is equipped with real-time analytics that gathers important data from multiple locations to give you in-depth insights on the entirety of your operations
4. It supports market-specific property management tools that cover commercial, multi-family, senior, and military housing.
5. It has strong integration capabilities that allow it to play well with tools for marketing, facilities management, payment processing, and more.

How to choose the right property management software for your business?

Selecting the right property management software can significantly enhance your operations. Here are essential steps to guide your decision-making process:

• Identify Your Needs: Assess your specific requirements, considering the types of properties you manage (residential, commercial) and necessary features like tenant management, maintenance tracking, or accounting.
• Set a Budget: Determine your budget for software, factoring in ongoing costs such as subscription fees and potential training.
• Research Available Options: Explore various software options. Look for reputable providers with positive reviews and compare features, pricing, and customer feedback.
• Request Demos: Take advantage of free trials or demos. Hands-on experience helps you assess the software’s functionality and user interface.
• Evaluate Integration Capabilities: Consider how the software integrates with existing systems, such as accounting software or CRMs, as seamless integration enhances efficiency.
• Assess Customer Support: Reliable customer support is crucial for resolving issues. Check for comprehensive training resources and responsive service.
• Consider Scalability: Ensure the software can accommodate growth, allowing additional properties or users without requiring an overhaul.
• Look for Mobile Access: Mobile access is essential for managing operations on the go. Verify that the software offers a mobile app or responsive design.
• Review Security Features: Confirm that the software employs robust security measures to protect sensitive information.
• Seek Recommendations: Talk to other property managers for recommendations, gaining insights into reliable software options.

There you have it, our list of the best 12 property management software for small businesses. While the products we’ve featured share many functionalities and have more or less the same easy-to-use interface, do note that they also have specialized features that may make a huge difference for your unique property management processes.

In case you are still having a hard time choosing, we highly recommend that you opt for DoorLoop. The platform serves as an all-in-one app where you can perform a variety of property management processes ranging, from listing creation to resident retention. In addition, it gives you the ability to create owner portals as well as get insights into your properties’ performance and ROI.

By Stephanie Seymour

Stephanie Seymour is a senior business analyst and one of the crucial members of the FinancesOnline research team. She is a leading expert in the field of business intelligence and data science. She specializes in visual data discovery, cloud-based BI solutions, and big data analytics. She’s fascinated by how companies dealing with big data are increasingly embracing cloud business intelligence. In her software reviews, she always focuses on the aspects that let users share analytics and enhance findings with context.