If your apartment business suffers complications brought about by inefficient operations, accounting problems and poor communication, it’s time you consider getting much-needed help from a property management software. Doing so would not only help you resolve such complexities as revenue leaks and losses from situations like unexpected maintenance but also help you reduce escalating costs that could easily drive your profitability down south. And if you are overseeing multiple properties, property management software should let you manage all of them from one place, with all the communication tools you need to deal with clients and partners any time.
In this article, we present 20 of the best property management software to help you find the solution that really addresses your current needs. This saves you time and resources just from knowing where to start. As you go about checking out the list for that right solution, consider other variables that should go with your decision. These include the quality of support for when you need one, along with how the software constantly incorporates useful technologies as they come along.
Property management tools have come a long way since they first came out. What used to come in the form of expensive on-premise systems have evolved into affordable tools that are hosted in the cloud. And with rental demand constantly ballooning, the demand for property management services has likewise increased. With these developments, it is not surprising that rents have been rising in the largest US markets.
However, this uptick in rent comes with a decline in home ownership, which has decreased to 64.2% during the first quarter of 2019.
Property management platforms are expected to become more technology-intensive as owners and managers continue to demand new and better functionalities. Given the expanding property rental market, new technologies, particularly artificial intelligence, have been finding their way into property management solutions. These modern apps are sure to cover just about every property management process there is.
While at it, you may also consider that these platforms share a number of similarities with popular facility management platforms.
Condo Control Central is an all-around condo/hoa management software that simplifies and streamlines interactions between property managers, security personnel, condo board members, and residents. Condo Control Central fully digitized property management processes such as payments, booking amenities, handling packages, or requesting parking permits; all transactions can be done online.
Condo Control Central users enjoy hassle-free secure online payments via Visa, MasterCard or American Express without the need for cash or cheques. With its dedicated portal, online transactions can be set to recur monthly with property managers receiving payments in an instant.
You can try all its features when you sign up for Condo Control Central here.
Condo Control Central also has aggressive security features that grant all parties access to incident report tools, security logs, parking permits, key records, and entry requests.
Avail is a property management software offering end-to-end property solutions for DIY landlords. From rental listing preparation and tenant screening to payment collection and maintenance tracking, this platform will allow you to manage your properties as seamlessly as possible. What’s more is they allow you to perform rent price analysis to ensure that you are getting the most out of your properties.
In addition to its comprehensive set of property management functionalities, Avail is also completely cloud-hosted. This makes it easy for landlords to monitor listings, screen tenants, and even interact with tenants even while on the fly.
What makes this platform even better is that they offer highly affordable and scalable pricing plans that make it great for landlords that only have a handful of properties.
FantasticStay is a powerful cloud-based software that provides a centralized platform for managing the operations of property rental businesses, including Airbnb. Through FantasticStay, you can manage your listings and advertisements right from your account–no need to sign up and log in on booking channels to promote your business. Communicating with your clients is also made easier, as well as making sure that your staff will be ready and available to accommodate your guests. Processing payment is both worry- and hassle-free with Quickbooks and Stripe integration.
FantasticStay helps establish your online presence with its website builder tool that allows you to create an intuitive website where you can place engaging elements and information necessary to keep your business thriving amid the competition.
Founded in 2000, Building Engines is a leading cloud-based provider of property management software for operations-minded teams at commercial office, retail, and industrial real estate properties. Its web and mobile platforms allow property teams to connect with the activities, data, and insights they need to improve operational efficiency, mitigate risk, improve tenant satisfaction and engagement, and make more informed decisions.
Clients of Building Engines include many of the leading public REITs, private owner/managers, and third-party management firms in the United States and Canada.
RealPage is a leading global provider of software and data analytics to the real estate industry, helping clients improve operating performance and increase capital returns.
Its well-regarded software addresses the needs of industry verticals: conventional, enterprise, institutional, affordable HUD, student living, military housing, tax credit, senior living, single family, vacation rentals
Founded in 1998 and headquartered in Richardson, Texas, RealPage currently serves nearly 12,500 clients worldwide from offices in North America, Europe and Asia.
Founded in 2003, Entrata is a comprehensive property management software provider with a unique single-login, open-access Platform as a Service (PaaS) system. Offering a wide variety of online tools including websites, mobile apps, payments, lease signing, accounting, and resident management, Entrata PaaS currently serves more than 20,000 apartment communities nationwide, including 34 of the NMHC Top 50 Largest Managers.
Entrata’s open API and superior selection of third-party integrations offer management companies the freedom to choose the technology and software that best fit their needs.
One of the fastest growing property management solutions in the multifamily industry, ResMan provides easy-to-use automation tools that improve operational effectiveness and productivity for conventional and affordable housing properties. By recruiting some of the brightest minds in the industry, ResMan is able to deliver intuitive software and industry-leading customer experiences.
Built on a single platform, ResMan provides a highly intuitive solution to meet both operational and accounting needs for the multifamily owner/operator. It’s core platform, Essentials, includes the modules necessary for a property to get up and running.
Its ResMan+ Innovation Network with its free and open API gives you the freedom to work with the vendors you prefer. This allows our customers to create personalized best-in-class solutions to meet their unique needs. Its Premier-Gold partners are seamlessly integrated into workflows to create a better experience for its customers.
The company itself was founded in 2000, with headquarters at Plano, Texas.
MRI Software, a leading provider of innovative real estate software applications and hosted solutions, is the creator of MRI Residential Management, a comprehensive and flexible technology platform coupled with an open and connected ecosystem for the unique needs of real estate businesses—from property-level management and accounting to investment modeling and analytics for the global commercial and residential markets.
Founded in 1971 with headquarters in Solon, Ohio, MRI develops lasting client relationships based on nearly five decades of pioneering expertise and insight on the real estate industry.
Why choose MRI Residential Management?
Established in 1982 and with over 30 offices and 5,000 employees worldwide, Yardi is a cloud-based property management and accounting platform that helps you effectively manage your real estate portfolio more efficiently and competitively.
Yardi designs, develops and supports real estate investment management and property management software. Yardi offers a full suite of business solutions for the real estate market, including multifamily, single family, affordable, public, senior and military housing as well as office, industrial, and retail market segments.
Yardi is recognized for the quality of its products, innovation, responsiveness, and customer focus.
Propertyware is a cloud-based property management solution for single-family and low-density rental units offering a full suite of on-demand property management tools, including customized, hosted websites, online payment processing via credit/debit cards and eChecks, electronic signature powered by DocuSign, work order management, customer portals, inspections and trust accounting — all in one easy-to-use software solution.
Founded in 2001 with headquarters in Richardson, Texas, Propertyware is a public company with more than 5,000 employees worldwide.
Founded in 2006, AppFolio is a multi-awarded web-based, SaaS property management application that provides robust accounting and management tools and features. The system centralizes all property management processes such as accounting, marketing, applicant screening, online rent payments, online lease agreements, and more.
Sporting a clean and intuitive user interface, AppFolio streamlines all property management-related workflows. The software is designed to work seamlessly with various types of properties (HOA, residential, commercial, and student housing). With AppFolio, property owners can easily manage their properties, marketers can boost their property listings and online visibility, residents and landlords have a clear communication channel and more.
Incorporated in 1987 and headquartered in Cincinnati, Ohio, Rent Manager is a property management, accounting, CRM, and work order management software suite that combines enterprise accounting, VoIp phone integration, online portal tools, mobile applications, open API and electronic payments into one powerful integrated system.
Rent Manager’s extensive features allow any user to completely customize the use and functionality of the software. With a wide range of optional modules, mobile capabilities, web resources, and convenient hardware, Rent Manager is easily tailored to meet the unique needs of your company.
TenantCloud is a cloud-based all-in-one cloud-based property management system designed for landlords, tenants and vendors.
Founded in 2014 with headquarters in Austin, Texas, TenantCloud provides accounting, work orders management, online rental applications and online rent collection. It offers customizable income/expense reports, vacancy marketing in different listing websites, personal website, online communication, cloud storage and account management.
TOPS ONE unifies your accounting and management teams together into an All-in-ONE platform that actually works for every aspect of Condo, HOA and CO-OP management.
From accounting to management to communications, TOPS ONE brings your entire community management group together. All of these tools are backed by a powerful automation engine that makes community association management a breeze, saving you time without sacrificing the quality of service for your customers.
Founded in 1985, TOPS Software is headquartered in Clearwater, Florida, with around 200 employees worldwide.
Founded in 2004 and headquartered in Boston, Massachusetts, Buildium provides easy-to-use, affordable cloud-based property management software solutions to property managers and community associations.
The company counts more than 15,000 customers of its online property management software in 46 countries.
Rentec Direct is a web-based property management solution designed to help property managers handle all processes relevant to property management. It comes with a robust set of tools to help you manage maintenance, tenants, accounting and even bank records.
Users can utilize the platform to publish property-related information such as vacancies, prices and images. The same can also be published in popular platforms like Craiglist, allowing property owners and managers to expand their customer base. Other useful features include tenant screening and rental payment, which can be made through credit cards or eChecks.
Founded in Raleigh, North Carolina in 1996, SiteLink leads the industry for Windows and cloud-based self-storage management software and payment processing. It is a preferred choice among the leading property management firms today. Aside from its robust scalability, SiteLink has numerous features including ease-of-use, continuous software updates, and excellent support. Even small-scale operators are entitled to special packages, such as ready-made websites and credit card support.
SiteLink is packed with revenue-generating tools. It helps users automate and enhance the efficiency of numerous business processes such as online payments, CRM, electronic signature, revenue management, phone integration, business reports, etc. You can integrate your business operations with numerous third-party services such as customer service support, leases and legal, analytics, ACH/EFT bank drafts, and many more. It also facilitates efficient PCI compliance, including keeping your data secured as it helps you remain PCI DSS Level 1 certified and other certifications.
Property management tool SimplifyEm is targeted at property owners and managers who are seeking to manage their properties in a more efficient manner. The tool offers an extensive feature set that includes fee charging, online payment collection, income and expense tracking and communications.
For users with large operations, the solution automates tasks that are normally time-consuming. Payment calculation and collection, expense accounting and late rent notifications are automatically carried out by the system. You can also improve the way you manage work orders through SimplifyEm’s task center, which also comes with a calendar to give you a heads up on new orders.
LiveTour software from iStaging is an immersive virtual tour builder for real estate agents, hoteliers, retailers, interior designers, event organizers, museums, art galleries, photographers, and more. The platform enables professionals from these industries to create immersive virtual tours and capture any space in 360 VR for unparalleled presentation visuals.
LiveTour is a handy tool to create tours and walkthroughs of hotels and resorts, retail stores, landmarks, homes, and 3D renders which allow prospective guests, buyers, or clients to interact with places as if they were physically there.
Headquartered in California, TrueRent provides property managers or property owners with a low-cost, feature-packed solution for managing all facets of their business, including tenant screening, work order management, recurring billing, and more. The software is quite user-friendly and easy to implement, but regardless, users have access to a responsive support team should they ever need assistance.
The software can be used globally, however, its rent collection capability and tenant screening feature is limited to the US for now.
Property management often comes with extensive documentation, hence, a lot more working hours. These may include those required for processes like compliance, lease expiration tracking, renter inquiry and maintenance requests. Property management software helps automate and secure critical documents.
The ideal property management tool should be able to make multiple field searches, allowing managers to find property IDs and tenant names with ease. This results in improved information access and productivity.
In the age of cloud computing, mobile optimization has become king. This development was born out of need as many owners and managers are known to work out in the field. Mobile apps enable them to access these tools anytime, anywhere from the comfort of their smartphones.
Cloud-based property management platforms have grown in popularity owing to their ability to safely store information, which may include financial reports, rental data and critical documents. This allows users to streamline their operations, which in turn minimizes costs and saves valuable time.
Managing a property involves customer support and what better way to improve this than by automation. Property management software can manage work orders through ticketing systems while combining the entire workflow–from flagging the issue to assigning staff up to invoicing. Imagine a system that gives you all the functionalities of popular maintenance management software and much more.
And we’re just about done here. Property management software is indeed a boon for property owners and managers, helping them keep up with the daily grinds of property management. With all the benefits that these tools offer, it’s tempting for you to start shopping for one on a whim. But take time to consider your needs before doing so, otherwise, you may end up purchasing a tool that is no use to you. Or better yet, take our top product for a spin and see if it’s the right one for you.
After all, Condo Control Central is an all-in-one property management software that makes it easier and simpler for property managers, residents, and other involved parties to interact with each other. Its dedicated online portal keeps everyone updated on announcements and policy updates through push notifications. Payment, as with other transactions, is done online so residents and property managers can enjoy the hassle-free experience of paying through Visa, American Express or MasterCard. Should you want to investigate the platform firsthand, you can easily do so when you can sign up for Condo Control Central free trial here.
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