What are the 20 best real estate management software solutions for property owners and managers? We provide you the details in this article as you’ll learn about the features and benefits of software solutions for real estate properties of all sizes.
With real estate management software, real estate professionals and landlords can track residents, leases, and maintenance tasks, collect rent, and handle finances to streamline operations and reduce costs. You can choose from different types of software such as HOA (Homeowners Association) software, affordable housing software, and vacation rental property software according to the size and needs of the property you manage.
Real estate management tools, just like any software, is an enabler of efficiency and productivity. That can only translate to more revenues for you. We’ve spelled out the five key benefits below, and if you’re wondering when you should use software, this video sums it up: when you find yourself spending more hours than you want managing your units.
Here are some other key benefits of real estate management software:
The revenue of real estate property management in the US is set to top $67.23 billion in 2018. The US and Canada are leaders in the North American real estate software market due to the presence of numerous vendors and customers. The vendors provide integrated solutions for collaboration management, lease management, expense management, and asset management.
Now that you have got background info on the subject, it’s time to get down to the brass tacks and select a suitable solution for your needs. Take a look at the summaries of the top 20 real estate management software products and make your choice.
IBM TRIRIGA is an integrated workplace management solution that offers modules to help improve your environmental, financial, and operational performance. Top features include facility management, lease accounting, capital project management, and environment and energy management. The platform offers a lease manager that gives you info about upcoming lease changes and updates, amortization summary, and present and previous asset value. In addition, it presents financial info on real estate contracts to help you get a report on lease expenditure related to a specific portfolio.
AppFolio is an online solution that offers loads of management and accounting tools. You can utilize it to centralize all your property management processes such as marketing, accounting, online rent payments, applicant screening, online lease agreements, and more.
AppFolio offers an intuitive and clean user interface to help you streamline all workflows related to property management. The platform functions well with different types of properties such as student, residential, commercial, and HOA housing. With this solution, landlords and residents obtain a clear communication channel, marketers can improve their online visibility and property listings, and property owners can effortlessly manage their properties.
Propertyware is a scalable and versatile platform designed for low density, small residential, and single-family properties. This advanced solution combines accounting and online property marketing and management in a single platform to enable you to cut expenses while boosting revenues from your properties.
Propertyware is ideal for landlords who manage their rental properties and tenants, REO/asset managers who control bank-owned properties, and fee managers who handle properties and fees for their owners. This product simplifies leasing renewals, communication with tenants, rental management, and more.
Rent Manager offers a robust set of features to enable property managers and rental service companies to efficiently manage their tasks. In addition, the tool takes care of all the financial elements which helps you maintain transparency with your clients.
Rent Manager has been around for more than 30 years and it offers a detailed and versatile feature set for realtors. The product helps you perform a range of tasks from tracking your rental info to extracting helpful info from your stats. Plus, you get an open API to integrate the system with other apps, and its quote-based pricing plans are affordable even for small businesses and startups.
Entrata offers innovative and smart feature suites. It assists you to accept applications from prospective tenants, verify the info, and quickly move them in. Plus, it streamlines the renewal offer process after a lease expires. The platform helps you attract more leads and tenants. You can generate a workflow to manage the procedures and funnel prospects to the next stage. Thus, you can enhance the chances of gaining new customers.
In addition, Entrata provides a digital facility management feature where you can track maintenance work orders. Your tenants can also send work requests through this tool. The advantage is you can collate all maintenance-related tasks in one window and work on them efficiently to satisfy residents and building codes.
ResMan is a flexible solution designed to innovate, automate, and streamline the important tasks and processes of operating multifamily property businesses. The platform offers a simplified user experience to residential property owners and provides them effortless access to the data they need to work more efficiently and get deeper insights to make strategic decisions.
ResMan offers accounting functionalities that automate the management of general ledgers, accounts payable, and accounts receivable. In addition, you can produce reports that aid investors in analyzing financial performance. Plus, you can use navigation tools to quickly access data, secure and organize your documents, and create automated tasks for particular workflows.
Yardi Voyager is a fully integrated platform that improves the operations of real estate businesses. It offers market-specific solutions that cover military, public, senior, affordable, multifamily, and commercial housing.
The product provides a single database where you can access all important workflows and info from your whole portfolio. From this centralized hub, you can collect business insights, track maintenance activities, perform accounting tasks, handle leasing, and manage operations. As the platform centralizes workflows and info, it automates processes such as move-in and move-out processing, purchase order management, work order approval, and lease administration.
MRI Residential Management is an innovative program designed for multi-family managers. This full-featured product streamlines and automates processes to empower property managers to concentrate on tenant retention and leasing instead of laborious manual processes. It offers end-to-end features that help you manage all tasks from scheduling to leasing and renewals, and more.
MRI Residential Management utilizes a well-connected ecosystem and robust technology to improve operational efficiency. It delivers immense flexibility without adding complexity or reducing control. With this application, enterprises can build occupancy easily, increase income, and boost efficiencies. Top features include reporting and analytics, MRI application exchange, MRI information exchange, flexibility toolkit, portfolio performance management, MRI Go, property management, and accounting management.
Buildium is a cloud-based tool that enables property managers to fully control all elements of their business including accounting, leasing, and others. It allows them to effectively manage their vacancy, maintenance, and rental cycles. Plus, it makes it simpler to receive rents and sends automatic notifications about overdue payments.
Buildium is cloud based which means all you need is a browser to access the system from anywhere, anytime. It takes care of all the hard work and empowers managers to concentrate on maximizing business opportunities instead of spending time doing routine operational tasks.
TurboTenant is a free-to-use tool for property owners that covers all important facets of real estate rentals. It offers user-friendly cloud-based features that you can access from anywhere, on any device. The platform allows you to effortlessly market your property as it integrates with numerous property listing sites. Plus, it enables you to upload vacancies on Craigslist.
TurboTenant also provides your own property listing site whose link you can share with potential residents. In addition, it presents a ton of features that allow you to market your buildings in person, accurately price your estates, protect your properties, and more.
Rentec Direct is a web-based software for landlords, property managers, and associations. It offers comprehensive general ledger and property accounting that helps in maintaining bank, tenant, and property records.
The platform presents a professional website where you can list property vacancies along with their prices, images, and details. It also enables you to publish vacancies on Craigslist and other popular rental property websites. In addition, online file management assists you to upload and share leases and other documents, and images.
TenantCloud is a free-to-use comprehensive solution for landlords and tenants. It enables landlords to screen applicants, invoice and charge late fees, and receive payments online. Plus, you get a free listing site along with the package. Tenants can make online payments, submit rental applications as well as maintenance requests, and securely store their payment and rental history.
TenantCloud’s paid premium service offers additional features such as maintenance request bidding, unlimited bidding, and others. Landlords can also avail premium services called Service Pro to get more tools to expand their business and manage operations without hassles.
SimplifyEm can be utilized by property managers and landlords to effectively manage their properties. You can communicate with tenants via tenant portals and invoices, collect payments online, manage tenant balances, charge fees, and track the income and expenses of all your properties.
Property managers and landlords of larger properties can save time by automating their daily processes. They can utilize the automation center to calculate fees every month, track expenses, collect payments, and send late payment notices and other statements. This significantly minimizes the manual work needed to handle their properties every month.
Arthur is a cloud-based platform designed for small and medium-sized HMOs and managers of single outlets, student housing, commercial properties, residential blocks, and social housing. The product works both on mobile devices and PCs and brings together property owners, contractor agents, and tenants in one system.
Property managers can utilize Arthur to communicate with stakeholders and perform daily tasks in an organized manner. The program’s dashboard gives you a single view of your properties and helps you follow your scheduled activities. Tenants can pay rents, send documents, generate rental statements, communicate with their landlord, and submit maintenance requests.
Property Meld is a cloud-hosted product that assists commercial and residential property managers as well as homeowners associations to ensure compliance with regulations, schedule maintenance jobs, and track payments. The platform is ideal for property managers with 20 or more units.
Property Meld documents communication between tenants and homeowners, and helps in work order management for maintenance. It sends notifications to users for important events in the management of a work order or asset, and can generate and approve work requests. Other main features include automated work alerts and reminders, maintenance requests management, tenant self-service scheduling, and automatic tenant follow-up.
We have included Evercondo in this list of top 20 real estate management software as it is a reliable cloud-based product that enables property managers to manage overall workflows and identify trends in their buildings. Plus, it allows residents to communicate with condo associations about issues such as maintenance requests, parking reservations, and more.
Evercondo presents an inbox to property managers where they can store inquiries and requests in a single place. This inbox contains different types of communication including emails and voicemails to assist property managers to stay organized. In addition, the software offers you access to existing maintenance requests and also provides a notification solution that sends alerts to property managers when specific requests are resolved.
Planon Real Estate Management is designed for medium-sized, large, and global businesses that wish to organize their info such as tenant and property details, and lifecycle expenses in a helpful and structured manner. It provides processes such as transaction management that allows you to create and analyze scenarios for effective financial planning. Plus, you can predict potential expenses and find saving opportunities.
To help you shift up from old-fashioned spreadsheets, Planon offers centralized dashboards for efficient management. You can check out the software’s features by requesting a demo. Contact the company to get a custom quote for your requirements.
iManageRent is a cloud-hosted platform designed for landlords managing multiple or single properties of all sizes. It offers a host of useful features including maintenance management, tenant screenings, security deposit management, online rent collection, and more.
iManageRent enables you to post vacancy ads on websites such as Zillow, Trulia, and Craigslist. The tenant screening feature offers background details on prospective residents and automatically evaluates applicants based on selected parameters. In addition, you can store files such as lease agreements, manage and track maintenance requests, and stipulate automatic rent increases.
Hemlane is a cloud-based software that empowers real estate managers and investors to advertise, organize, and oversee long-term rental properties. It offers cloud-hosted data storage, online payments, applicant screening, and marketing features.
From the initial stages, Hemlane helps with lead collection by creating a personalized site with application links and property details. You can benefit from the platform’s syndication to more than 40 rental listing sites to market your property and obtain leads. After tenants submit their application, you can access their credit reports and perform background checks. Finally, the Smart service provides legal partner support to users and gives them access to state-specific lease agreements and on-call advice to streamline the contracting process.
Rentables is a cloud-hosted tool that helps you track property accounting processes involving owners, tenants, and others. It provides work order management and tracking features to enable property managers to efficiently handle maintenance requests and work orders.
Rentables lets property managers scan their existing leases and sort them to identify those that are about to expire. For accounts payable, the software allows ACH and cheque payments. In addition, property managers can generate accurate records and easy-to-read statements for their owners. Moreover, they can email monthly statements to owners, reconcile their account, pay charges, and record rents. Finally, the software generates all your 1099s and annual reports at year-end.
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