Categories   >   Rental Property Management Software
Last Reviewed: November 12th, 2024

Best Rental Property Management Software Of 2024

What is Rental Property Management Software?

Rental Property Management Software is a technological solution designed to ease the operational stresses for landlords and rental property managers. The primary aim here is to fine-tune the daily management of rental properties while enhancing tenant satisfaction. From managing leases and tracking tenants to scheduling maintenance tasks and collecting rent online, this software solves a breadth of issues faced on the ground. Main features encompass tenant and lease tracking, maintenance management, and financial management. Watch out for emerging additions such as cloud-based and mobile capabilities which add flexibility to user experience. Its uses span across residential real estate but its merits are most evident for property managers and landlords. Keep in mind the potential limitations such as a steep learning curve and costs attached to advanced features. In sum, Rental Property Management Software pledges efficient management bolstered with tenant satisfaction if initial hurdles can be leaped over.

What Are The Key Benefits of Rental Property Management Software?

  • Improved operational efficiency
  • Streamlined lease management
  • Efficient tenant tracking
  • Automated rent collection
  • Simplified maintenance scheduling
  • Boosted tenant satisfaction
  • Time-saving processes
  • Financial management control
  • Flexible cloud capabilities
  • Mobile user experience
Read more

Overall

Based on the latest available data collected by SelectHub for 37 solutions, we determined the following solutions are the best Rental Property Management Software overall:

AppFolio
AppFolio
Start Price
$1.49
Per Unit, Monthly
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request Pricing Request Demo

Why We Picked AppFolio

AppFolio is an all-encompassing platform covering every aspect of property management. According to reviews, it’s an intuitive platform that localizes business processes and offers unique collaboration tools and a mobile app. Along with AI-embedded maintenance workflows, the universal search bar is one of its standout features.
However, reviews noted that it’s difficult to understand a variety of nuanced features without proper training. Also, due to no open API, businesses should be wary of their existing software stack requiring integration with the platform.
In conclusion, AppFolio is a robust management platform with various advanced features to support every kind of property. But the high cost, hit-or-miss support suite and scarce training resources can make it inconvenient for single landlords and managers with smaller portfolios.

Pros & Cons

  • Maintenance Management: 89% of users discussing this aspect said that they saved time with smart maintenance workflows.
  • Workflow Localization: According to 96% of users who reviewed this benefit, the software is feature-rich and localizes accounting, marketing and management workflows.
  • Ease of Use: It’s an intuitive platform that doesn’t require technical knowledge for beginners, as mentioned by 95% of users reviewing the user interface.
  • Collaboration: It provides an efficient centralized communication hub, according to 100% of reviews on native interactions.
  • Universal Search Bar: All the reviews on the search bar noted that it’s easy to locate documents and data throughout the organization.
  • Mobile App: Users can perform every major function remotely via the app, according to 88% of users reviewing the mobile app.
  • Integrations: It doesn’t support unique integrations with third-party software, according to 89% of reviews on backend connectivity.
  • Reporting: Reports generated through the platform lack customizations, as observed by 73% of reviews on the analytics module.
  • Accounting: Lack of automatic bank feeds and weekly recurring transactions and recording expenses without creating bills hinder smooth accounting, according to 57% of users reviewing the accounting module.
  • Customer Support: 67% of users mentioning customer support said that they were not satisfied with the support response time.

Key Features

  • Communication: Maintain a flat organization with clear communication between team members, managers, landlords and tenants. 
    • Individual Portals: Provide unique communication portals to associated parties based on their role. Tenants can pay rent, submit maintenance requests, interact with managers and view lease documents. Enables managers to communicate with multiple owners, issue work orders and send notifications and updates in bulk. Owners can track property-specific performance reports, assign tasks and transfer funds. 
    • Document Library: Maintain a centralized library of documents, leases and tenant information. Set role-based access permissions for each document. 
    • Board Member Management: Commercial property businesses can schedule board meetings, conduct polls on invoices and architectural requests, track votes and share documents and reports. 
    • Tenant Insurance: Tenants can submit proof of renter insurance or buy insurance provided by the vendor. Manage each policy and its maturity from the dashboard. 
    • Emails and Surveys: Email surveys, updates and notifications in bulk or send individually based on requirements. Offers unique surveys and text templates. 
    • Mobile App: Access the platform via any device and promote remote workflows. 
  • Accounting and Reporting: Gain visibility and make informed decisions faster. 
    •  Automate transaction recording and property-specific bookkeeping. 
    •  Offers CAM tracking and reconciling modules for commercial properties. 
    •  Use AI and machine learning to read PDF invoices from vendors, identify key information and automate accounts payable. 
    •  Leverage over 80 report templates and automate recurring report generation. Every template is customizable and updated frequently. 
    •  Customize the dashboard with real-time data visualizations and receive AI-driven performance insights. 
    •  Supports integration with personal banks and digital wallets to unify renting, accounting and reporting workflows. 
    •  Customize late fee processes. Set personalized rules in bulk or case-by-case waivers. 
    •  Manage multiple tenant accounts, track lease lifecycle and refund deposits directly from escrow. 
  • Marketing and Leasing: Generate leads, schedule showings, design leases and screen prospects from the dashboard. 
    • AI Leasing Assistant: Use an AI chatbot to automate property showing appointments, qualify leads according to set parameters, cross-sell units and answer FAQs. Respond to customer queries 24/7 through texts or emails. 
    • Omnichannel Marketing: Syndicate portfolio on multiple internet listing services (ILS) and manage every listing from the dashboard. Get real-time notifications upon each engagement and generate custom guest cards to track prospects. 
    • Personal Website: Design a personalized website with brand color and logo for portfolio marketing. Available at an extra cost. 
    • Rent Analysis: Retain a competitive edge by comparing rental prices of neighboring units to determine the best price for marketed properties. 
    • Virtual Showings: Accommodate prospects’ needs by scheduling and running live virtual tours of listed properties. Supports integrations with PropTech like smart locks and HVACs to facilitate self-guided property tours by prospects. 
    • Vacancy Management: Consolidate vacancy postings and tasks, view current status, and market units on multiple ILS from the unified dashboard. 
    • Tenant Screening: Screen every applicant’s credit score, eviction history, income verification and criminal record via TransUnion. Property managers can either pay for the reports or charge applicants. 
    • Leasing Hub: Design custom leases with personalized clauses and allow applicants to eSign them from anywhere. Track every lease lifecycle and set defaults for automatically updating lease dates, rent structures and statuses upon expiration. 
    • Student Housing: Supports lease and tenant management based on beds occupied. 
  • Maintenance: Streamline maintenance processes with AI and intelligent workflows. 
    • Smart Maintenance: Use the mobile app to receive maintenance requests, issue work orders and track progress. Set default rules to automatically dispatch pre-approved vendors. Accurately calculate the shared fee for common area maintenance and send invoices to renters. 
    • Vendor Onboarding: Vendors can access the platform, receive work orders, share status and send invoices. Automate bills payable and maintain records of work done for a clear audit trail. 
    • Utility Management: Track and charge each renter based on actual consumption and automate utility invoice processing. Use analytics to identify and fix leaks. 
    • Mobile Inspections: Perform mobile inspections, log issues and expedite turnovers. 
    • Auditing Center: View an itemized history of every activity and track changes made by team members and vendors. Use unique filters to identify and correct mistakes quickly. 
    • 24/7 Maintenance Contact Center: Deal with tenant calls, dispatch pre-approved vendors and input data directly to the user database. 
  • Team Management: Onboard unlimited team members, define role-based access levels and manage each person’s workflow. 
    • Training: Embed training manuals into the software to onboard new hires more easily. Centralize policies and procedures to ensure associates follow protocols while performing tasks. 
    • Task Management: Set tasks, assign staff and monitor progress with an interactive calendar. Team members can share tasks and customize workflows. 
    • Universal Search: Use the search bar to quickly navigate and find documents, records or data. 
  • Integrations: Supports integrations with personal marketing websites and third-party applications, including BlueMoon, CodeBox, Engrain, MatterPort and CIT. 
Avail
Avail
Start Price
$300
Per Unit, Monthly
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
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Why We Picked Avail

Avail helps property managers and landlords market, maintain and manage their properties. Reviews state it’s an all-in-one solution ideal for smaller portfolios. Users have identified the lease template library, omnichannel marketing suite and responsive customer support as the standout features.
However, users have noted that it lacks any accounting capabilities and requires third-party apps for these tasks. Plus, the user interface is challenging to understand for beginners. The free starter plan is a good way to get a feel for the platform before deciding whether to choose the paid version.

Pros & Cons

  • Lease Templates Library: It’s easy to generate custom leases using the state-specific lease templates, according to 84% of users talking about digital leases.
  • Customer Support: Over 92% of users who reviewed support said they were satisfied with the vendor’s response time and quality.
  • Deployment: About 78% of users mentioning onboarding and implementation said it’s easy to deploy and integrate the solution with current workflows.
  • Marketing: It helps manage listings on multiple channels from a single dashboard, according to 100% of reviews on the marketing suite.
  • Tenant Experience: It enhances overall tenant experience through customizable individual profiles, according to 88% of reviews mentioning this element.
  • Prospect Screening: Around 89% of users reviewing the screening process said they were satisfied with the in-depth capabilities offered.
  • Accounting: Lacks accounting features and integrations, according to 92% of users talking about this feature.
  • User Interface: The user interface isn’t intuitive and involves a steep learning curve, according to 75% of reviews mentioning the UI.

Key Features

  • Automatic Listing: Create customized listings and automatically post them on various property listing websites. Leverages partnerships with industry-leading property websites, including Trulia, Zillow, Doorsteps.com, HotPads and more. 
  • Rent Analysis: Determine optimum rent for specific properties via rental analysis through collaboration with RentRange. Compare rent and other data with competing listings relevant to user portfolios. 
  • Customizable Digital Lease: Draft property leases with specific clauses, rules and attachments using state-specific lease templates tailored to comply with various laws and regulations. Invite tenants to e-sign documents and communicate with them from the online portal. 
  • Marketing Website: Create a personalized marketing website through which prospective tenants can view rental properties and apply for listings. 
  • Online Rent Payments: Save time and hassle with its automatic online rent collection system that handles payments, rent reminders, receipts and reporting. Renters can pay rent online at their convenience from any device and via checking and savings accounts, credit cards and debit cards, as well as set up monthly recurring payments via Autopay. Direct deposits rent payments into landlords’ bank accounts in approximately two business days; cut payment processing time and receive next-day payments with FastPay, available for landlords on a premium plan. 
  • Rental Application: Choose information to receive on rental applications based on customizable templates. The standard application contains screening questions on smoking, bankruptcies, felonies, evictions and more. Custom questions are available through the Unlimited Plus Plan. Applications are free for both tenants and landlords. 
  • Tenant Screening: Screen tenants through a partnership with TransUnion. Choose which tests to require, with options including background checks, credit score checks and a National Eviction Records search. Applicants can pay for their background checks directly. Reports don’t hurt their credit scores and can be reused on unlimited applications within 90 days. 
  • Maintenance Tickets: Plan and schedule maintenance activities while maintaining an open line of communication between all parties. Keep track of expenses, materials used and work status. Tenants can submit and track requests online, with the ability to upload pictures and videos as necessary.  
  • Integrations: Integration with CreditBoost helps boost tenants’ credit scores through timely payments, while the Lemonade integration provides renter’s insurance quotes and options. 
Buildium
Buildium
Start Price
$55
Monthly
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
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Why We Picked Buildium

Buildium helps property owners and managers digitize and streamline every property management workflow. Users prefer the solution because of its end-to-end property management features, ease of use and responsive support suite. Reviewers also mention that residents are fond of the platform’s mobility and prefer paying rent and issuing maintenance requests digitally.
However, reviews note that the platform is mainly built for residential properties and lacks nuanced features like complicated lease structures, automatic utility tracking, in-depth CC&R and violation tracking for commercial, student and community properties. Users also have to manually match transactions to bank entries and can’t issue work orders automatically. Considering everything, buildium can get confusing for larger portfolios but is perfect for single landlords and managers to organize and monitor operations from a unified dashboard.

Pros & Cons

  • End-to-End Software: Buildium is a comprehensive solution that can handle marketing, leasing, maintenance and management workflows of a property management business, according to 88% of users reviewing its features
  • Accounting: It offers robust and intuitive accounting features, according to 90% of reviews on this aspect.
  • Resident Experience: All the users who mentioned this element said that the software enhances overall tenant experience via individual communication portals, digital work orders and electronic rent payment.
  • Intuitive Interface: It has a simple and easy-to-use user interface, according to 80% of reviews on this aspect.
  • Customer Support: According to 90% of users who reviewed support services, the vendor offers responsive and agile customer support.
  • Commercial Property Management: The software lacks nuanced features for commercial property management, according to 100% reviews on this aspect.
  • Leasing: Insufficient in-depth leasing customizations are an issue, according to 85% of users who reviewed this element.
  • Automation: Accounting and maintenance management, according to 100% of reviews on this element.

Key Features

  • Accounting: Track and share owner, vendor and residential accounts and maintain accurate books. 
    • Property Accounting: Record transactions, convert work orders into bills and pay in bulk, automate bank reconciliations, identify discrepancies, and share customized reports. 
    • Company Financials: Capture financial overviews by tracking property-specific transactions alongside miscellaneous income and expenses. 
    • Online Payments: Accept rent, set up recurring transactions, pay bills and automate bookkeeping. Residents can add bank accounts or credit cards through individual portals. 
    • Retail Cash Payments: Leverage partnership with PayNearMe to allow residents to pay rent, dues and other fees in cash at multiple convenience stores like 7-Eleven, Casey’s General Store and more. Automatically update payments on respective ledgers and deposit them into bank accounts within a week. 
    • 1099 eFiling: E-file 1099-MISCs and 1099-NECs forms, mail paper copies to owners and vendors, and automate tax calculation based on year-round incomes. 
  • Business Operations: Streamline communication with owners, vendors and residents from a centralized platform. 
    • Resident Center: Residents can pay rent, set up recurring payments, submit maintenance requests coupled with photos and access important documents via mobile-responsive portals. Offers an announcement board to highlight updates, notifications and alerts from managers. 
    • Owner Portal: Owners can access property-specific financial documents and reports. Managers can control access levels for each owner portal. 
    • Document Storage: Securely store property-related documents, including leases, addendums, expense reports, vendor invoices and more and share with a few clicks. Offers unlimited storage space. 
    • Maintenance Tracking: Track maintenance requests, create work orders, assign preferred vendors and automate recurring maintenance activities. 
    • Property Inspection: Perform inspections on the go using an app powered by Happy Inspector. Choose from several templates to customize reports. Make a to-do list, take notes, and capture pictures and videos. 
    • Renters Insurance: Provide tenants with a fully integrated renter’s insurance solution powered by MSI. Document enrollment information and manage each policy till maturity from the dashboard. 
    • Analytics: Monitor real-time data visualizations, customize reports, compare data with localized industry benchmarks and share analysis with clients and board members. 
  • Marketing and Leasing: Increase digital visibility of the entire portfolio, shortlist suitable prospects and design custom leases. 
    • Rental Listings: Create and syndicate custom property listings on multiple channels, including Apartment List, HotPads, Lovely, MyNewPlace, Trulia, Zillow and Yahoo. 
    • Professional Website: Own and design a personalized property website for prospects to apply for listings. Upload important documents like residents rulebook, floor plans and model leases to create a secure self-service hub for prospects, tenants and owners. 
    • Rental Applications: Choose the best applicants based on personalized parameters through a customizable online rental application form that integrates with the website. Accept any related application fees online. 
    • Showings Coordinator: Leverage the module powered by TenantTurner to automate tour schedules according to set rules. Communicate with prospects via email, texts and SMS. 
    • Tenant Screening: Set custom credit score requirements, run background checks and receive credit score information from TransUnion. 
    • Leasing: Design custom lease templates and autofill data to expedite the process. Prospective tenants can digitally sign documents from remote locations. 
  • Homeowner Association Management: Log, track and report property violations remotely. Automate penalties and consequent bookkeeping. Offers a unified inbox for communication among board members, homeowners and vendors. 
Propertyware
Propertyware
Start Price
$1
Per Unit, Monthly
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request Pricing Request Demo

Why We Picked Propertyware

Propertyware is a robust platform that helps managers and landlords streamline marketing, maintenance, management and accounting workflows. Reviews identify a responsive customer support team, flexible interface and comprehensive reporting suite as the main reasons for the platform’s popularity.
However, due to the variety of features offered and inadequate training material available, implementing and understanding the software can be time-consuming. Given that, we advise small and medium businesses to tailor the software according to their needs and remove any extra features to avoid complexity.

Pros & Cons

  • Complete Package: Propertyware is an all-in-one solution that can handle every aspect of property management, according to 83% of reviews mentioning this element.
  • Customer Support: According to 100% of users who reviewed the support suite, the support team is helpful and responsive.
  • Customizable: It’s a flexible platform that can fit the needs of every type and scale of property management businesses, according to 72% of reviews on customization.
  • Reporting: It’s easy to design unique reports with business-specific metrics, according to 83% of reviews on data visualization.
  • Complexity: The platform has a steep learning curve due to the variety of features offered, according to 74% of reviews on ease of usage.
  • Training Resource: Propertyware lacks adequate training material for beginners, according to 81% of users reviewing this aspect.

Key Features

  • Marketing and Leasing: Integrated marketing and leasing modules ensure smooth data flow throughout the cycle, eliminating manual data entry and reducing lost leads. 
    • Branded Website: Design mobile-optimized websites with business color and logo for showcasing units. Provides a library of customizable templates. 
    • Listing Widget: Create brand-consistent property listings, offer search and filter features to customers based on leasing terms, and provide portals for applications. The widget functions on native websites, and there’s a code for usage on external listing channels. 
    • Lead Tracking: Track each prospect from lead generation to lease signing. Offers guest card information, CRM, customizable reports and dashboards, and more. 
    • Application Portal: Applicants can provide address validation and add co-applicants, guarantors and others to ensure data accuracy. Offers unique views, reports and dashboards to get real-time data into each applicant’s journey. Applicants can add themselves to waitlists and save and continue later with an application. 
    • AI-Powered Tenant Screening: Screen prospective tenants using an AI-based algorithm. Check tenants’ rent payment history, criminal background, credit score, monthly income-to-rent ratio and other factors to determine their ability and willingness to pay rent. 
    • Leasing Hub: Create templates for commonly used documents like work orders, leases, invoice approvals and more. Applicants can remotely eSign documents. Store unlimited files and use the search bar to find required ones quickly. 
  • Online Payment: Collect rent online through electronic bank transfers and credit and debit cards. Tenants can pay via cash at convenience stores like Walmart or create cash payment vouchers on mobile devices. 
  • Role-Based Portals: Owners and residents can use mobile-optimized portals to access property-related documents, pay and receive rent and other fees, issue maintenance requests with multimedia proof, and communicate with managers. 
  • Chat: Send DMs, group messages and emojis. Maintain a record of every interaction with tenants and owners for compliance. 
  • Maintenance Management: Get updates on every maintenance activity, log issues and perform inspections from the platform. 
    • Work Orders: Standardize recurring maintenance tasks and pricing. Call center specialists can dispatch pre-approved vendors to quickly resolve issues. Store work orders, track progress, work with multiple vendors and automate accounts payable. 
    • Mobile Inspections: Camera mode aids property inspections, additionally, customize reports, compare past inspections and share evaluations with owners and tenants. 
    • AssetProtect Program: Property owners and managers can choose insurance plans to protect rental assets, drive ancillary revenue and maximize insurance compliance. 
    • Utility Management: Avoid late fees on utility bills with a seamless billing and collection process powered by SimpleBills. Simplify utility management to improve net operating income, reduce costs and turnaround time, and ensure quick move-ins. Available for single-family properties only. 
    • Vendor Credentialing: Reduce compliance risks by choosing from over 135,000 pre-verified vendors. Obtain critical information from multiple sources to ensure a complete audit trail. 
  • Accounting: Leverage QuickBooks integration to save time and reduce hassle. Record company financials, maintain general ledgers, manage and track bills, collect markup for bills, and track discrepancies using automatic bank reconciliation services. 
  • Multi-Location Management: Manage properties from different locations, create standardization across every unit and consolidate reporting to measure performance and other key metrics from a single dashboard. 
RealPage
RealPage
Start Price
$7.30
Per 10,000 Square Feet, Monthly
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request Pricing Request Demo

Why We Picked RealPage

RealPage has emerged as a prominent contender, offering a suite of features designed to streamline operations for property managers of all sizes. Let's delve into the feedback from users over the past year to uncover the strengths and weaknesses of this platform and determine if it aligns with your unique requirements.

RealPage has received accolades for its user-friendly interface and comprehensive functionality. Users appreciate the ability to efficiently manage rent collection, maintenance requests, tenant communication, and financial reporting all within a single platform. The software's automation capabilities have been particularly well-received, as they save property managers valuable time and effort. However, some users have expressed concerns about the software's pricing structure, finding it to be relatively expensive compared to some competitors. Additionally, a few users have noted that the software's customization options could be more robust, limiting their ability to tailor the platform to their specific workflows.

RealPage distinguishes itself through its extensive range of features and its focus on providing data-driven insights. The platform's analytics tools empower property managers to make informed decisions based on real-time data, optimizing property performance and maximizing revenue. Furthermore, RealPage's integration with various third-party applications enhances its versatility and adaptability. Considering its comprehensive feature set and data-driven approach, RealPage is best suited for property management companies seeking a robust and scalable solution to manage their portfolios effectively. It is particularly well-suited for larger organizations with complex operations that require advanced analytics and automation capabilities.

Pros & Cons

  • Centralized Communication Hub: RealPage serves as a central hub for resident communication, maintenance requests, and online rent payments, streamlining property management operations.
  • Accounting Features: The platform offers robust accounting tools, including accounts payable and receivable management, budgeting, and financial reporting, simplifying financial management for property managers.
  • Marketing and Leasing Tools: RealPage provides tools to create and manage property listings, screen tenants, and process lease applications, aiding in attracting and securing new residents.
  • Maintenance Management: The platform facilitates efficient maintenance management by allowing residents to submit requests online, tracking work orders, and managing vendor relationships.
  • Reporting and Analytics: RealPage offers comprehensive reporting and analytics capabilities, providing insights into property performance, resident trends, and financial metrics to support data-driven decision-making.
  • Customer Service: Users frequently report challenges in getting timely and effective support from RealPage's customer service team. This can lead to frustration when encountering technical issues or needing assistance with the platform's features.
  • Usability: The platform's interface can be complex and challenging to navigate, especially for new users. This complexity can lead to a steep learning curve and hinder efficient use of the software's capabilities.
  • Cost: RealPage's pricing structure can be a significant concern for property management companies, particularly smaller businesses or those with tighter budgets. The cost of the software may outweigh its perceived benefits for some users.
  • Integrations: Integrating RealPage with other software systems can be a complex process, potentially requiring additional development work or custom solutions. This can create challenges for property management companies that rely on multiple software platforms to manage their operations.

Key Features

  • GoDirect Marketing: Drive qualified traffic directly to personal property websites instead of indirect leads generated from internet listing services. Optimize marketing strategies and unify customers’ online journey. 
  • Digital Content Services: Increase engagement and drive online traffic with quality digital content. Streamline marketing efforts with centralized storage, manage media from the dashboard, and review and analyze data to elevate online visibility. Some of the unique content creation tools available are: 
    • Video Call Tours: Remote leasing agents can conduct virtual property tours with interactive walkthroughs and professional photography. Prospects can schedule tours on demand. 
    • Matterport Tour: Provide an interactive VR tour of high-definition photographs of up to 20 locations within a unit, including click points containing unique information. 
    • 3D Virtual Tour: Create an animated virtual tour from the property’s 2D or 3D floor plan; viewers can take control of their tours from inside the unit. 
    • Storybooks Digital Brochure: Arrange a mix of photographs, graphics and music to highlight the property’s best amenities. 
    • Lifestyle Video: Include premium quality videos shot on location with professional filming techniques. 
    • Drone Video: Offer a high-definition aerial view video with stunning visuals, providing a broader perspective of the location.  
    • Copy Service: Hire professional writers and editors to produce customized blogs, articles and listings to attract target demographics. 
  • Contact Center 3.0: Leverage an AI-backed 24/7 augmented solution to maximize conversions through on-time information delivery. Manage sales calls, leasing queries and maintenance requests. 
  • Personalized Website: Design professional websites and create unique touch points between the brand and renters with assistance from marketing reps. Increase engagement with mobile-friendly website templates. 
  • Leads to Lease: Make informed business decisions by tracking leads and integrating marketing data with revenue data. Draft customizable e-leases with personalized terms and clauses, and renew leases with new additions. 
  • Deposit Alternatives: Tackle bad debts and avoid losing leads due to requiring a high security deposit upfront. 
    • Deposit Insurance: Generate ancillary revenue; instead of paying a hefty security deposit, residents can set up an affordable and non-refundable monthly premium payment. 
    • DepositIQ: An upfront, non-refundable surety bond that ensures lease obligations, can be used in place of a hefty security deposit. 
  • Insurance Solutions: Mitigate risks for both residents and landlords, and enhance revenue with these unique and customizable solutions: 
    • Renter’s Insurance: eRenterPlan offers residents comprehensive insurance coverage of rental and personal assets. Optional RenterProtection provides coverage for vacant units or uninsured residents. 
    • AssetProtect: Offers property owners and managers an insurance program that protects rental assets, drives ancillary revenue and maximizes compliance. 
  • AI Screening: Access the industry’s largest rental payment database, screen for criminal background information and perform credit checks through top credit reporting bureaus. Verify identities and detect fraudulent applications using machine learning, equipped with behavioral data. 
  • Building Operations: Residents get keyless smart access to every door, use popular third-party applications for smart apartments and leverage high-speed internet access through the CommunityConnect integration. They can also submit maintenance requests with multimedia attachments to substantiate their claims. 
  • Payment Portal: Accept payments for rent, bills and other expenses through check, money order, credit and debit cards online. Integration with LockBox allows residents to mail checks to designated P.O. boxes. From there, checks are scanned, converted into digital transactions and routed to the owner’s account. 
  • Vendor Credentialing: Reduce liability and increase visibility by choosing pre-verified vendors who meet personal compliance requirements. The Credential Key Program thoroughly assesses each vendor’s background, success metrics and insurance and liability coverage to clear those eligible for same-day approval. 
  • Utility Management: Increase efficiency through a platform for billing ancillary costs. Manage and track property energy consumption and reduce waste. The submetering feature allocates utility costs among residents based on actual consumption. Reduce expenses through automatic cost allocation and avoid deploying on-site staff. 
  • Community Rewards: Offer residents digital reward points for engagement with the property?— from surveys and contests to online bill payments, renewals and more. Encourage engagement to increase loyalty and online reputation assessment scores, which helps cut lead tracking expenditure and cost-per-lease. 
  • Accounting Suite: Automate data entry, streamline workflows, record company financials, maintain general ledgers and manage and track bills. Outsource tasks to the SmartSource accounting team instead of staffing and training new accountants. 
  • Analytics: Gain critical insights into performance, track risks and opportunities, and maximize profitability. Optimize pricing through accurate demand and supply balance management. Receive detailed analysis of revenue management and market conditions. 
Tenant Cloud
Tenant Cloud
Start Price
$15.60
Monthly
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
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Why We Picked Tenant Cloud

TenantCloud is an all-in-one solution that can handle unit marketing on multiple ILS, screening and leasing prospects, maintenance work orders, online payment and reporting. Reviews identified its templates library, mobile apps and training material as noteworthy features.

However, it’s suited only for residential properties. The vendor doesn’t provide advanced features like intelligent automation, trust accounting and smart maintenance offered by competitors at the same price range as TenantCloud’s premium plan. It’s a good option for single landlords and small property managers but can bog down operations for businesses with more than 30 units.

Pros & Cons

  • Pricing: It offers a free starter plan, and the paid plans are economical compared to competitors, according to 81% of reviews on product pricing.
  • All-in-One Property Management: According to 93% of reviews on this aspect, the platform can handle every facet of property management and helps consolidate diverse operations.
  • Templates Library: Offers a rich templates library for emails, leases and other documents, according to 70% of reviews on templates.
  • Mobility: 89% of customers discussing this aspect said it’s easy for management and residents to access the platform via mobile apps.
  • Training: The vendor offers useful how-to guides and step-by-step tutorials, according to 82% of reviews on the knowledge base.
  • Unintuitive UI: It’s difficult to navigate chat notifications, application alerts and more, according to 65% of reviews on user experience.
  • Mixed Portfolio: All the reviews on this element mentioned that it lacks features for managing commercial properties and homeowner’s associations.
  • Automation: It doesn’t provide automation in key areas like double-entry accounting, invoice reading, autofills, assigning vendors for recurring tasks and more, according to 90% of reviews on this feature.

Key Features

  • Online Payment: Collect rent via online payment as well as credit and debit cards. Motivate tenants to pay rent on time by setting up late fees, as well as grace periods. Tenants can opt for recurring payments via auto pay. 
  • Accounting: Store, sort and retrieve all property transactions, balances, invoices and receipts. Track deposits, credit refunds and maintenance charges. Export data whenever required and maintain professional financial records. 
  • Maintenance Requests: Submit and schedule maintenance requests. Keep track of expenses, materials used and work status. Tenants can attach pictures and videos to their requests to better explain their problems. 
  • Rental Application: Share listings online, choose required documents and receive applications and fees directly. View prospective tenants using built-in lead tracking tools and invite them to apply. 
  • Online Leases: Create property lease and rental agreements with a few clicks and invite tenants to e-sign documents., Customize and renew documents with new tenant additions. Save time in designing lease agreements with pre-loaded, customizable templates. 
  • Tenant Screening: Run tenant screening tests directly on demand through partnership with TransUnion. A screening report contains a background check, credit score check and National Eviction Records search. 
  • On-Demand Reports: Generate comprehensive reports — add or remove different metrics and filters to access specific insights as needed. 
  • Mobility: Compatible with desktops and laptops; also available for both Android and iOS mobile devices. 
Rentec Direct
Rentec Direct
Start Price
$45
Monthly
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request Pricing Request Demo

Why We Picked Rentec Direct

Stepping into the realm of property management software, Rentec Direct emerges as a prominent contender, capturing the attention of landlords and property managers seeking efficient solutions. User feedback from the past year sheds light on the platform's strengths, weaknesses, and unique attributes, painting a comprehensive picture of its capabilities and suitability for various needs.

Rentec Direct receives consistent praise for its user-friendly interface and comprehensive suite of features. The platform simplifies tasks such as rent collection, tenant screening, maintenance requests, and lease management, streamlining operations for property management professionals. Users appreciate the affordability of Rentec Direct, especially when compared to competitors like AppFolio and Buildium, which often come with higher price tags. However, some users have expressed concerns regarding the responsiveness of customer support, highlighting the need for improvement in this area. The ability to access the software from any device with an internet connection is a significant advantage, providing flexibility and convenience for users on the go.

Rentec Direct caters to a diverse range of property management needs, making it suitable for both individual landlords and larger property management companies. Its scalability and affordability make it an attractive option for those starting or expanding their portfolios. The platform's comprehensive feature set ensures that users have the tools necessary to manage their properties effectively, from tenant communication to financial tracking. While Rentec Direct may not be the perfect fit for every user, its combination of affordability, user-friendliness, and comprehensive features positions it as a valuable tool for those seeking to optimize their property management processes.

Pros & Cons

  • Tenant Portal: Tenants can pay rent and submit maintenance requests online, which can save property managers time and hassle.
  • QuickBooks Integration: Rentec Direct can be integrated with QuickBooks, which can make accounting easier for property managers.
  • Good Customer Support: Many users report that Rentec Direct has good customer support, which can be helpful if property managers have any questions or problems.
  • Customizable: Rentec Direct is customizable, so property managers can tailor it to their specific needs.
  • Mobile App: Rentec Direct has a mobile app, which can be convenient for property managers who are on the go.
  • Limited Accounting Features: The platform lacks robust accounting functionalities, such as generating a balance sheet or tracking depreciation, which are essential for comprehensive financial management.
  • Customer Support Challenges: Obtaining timely and effective assistance from Rentec Direct's customer support can be difficult, leading to frustration and delays in resolving issues.
  • Mobile App Limitations: The mobile app's functionality is restricted compared to the web version, hindering on-the-go property management tasks.

Key Features

  • Property Marketing: Fill up vacancies faster, increase inventory visibility and boost occupancy rate with marketing tools: 
    • Customizable Listings: Create personalized listings mentioning amenities and rules and regulations, and automatically syndicate them on industry-leading listing websites like Trulia, Zillow, HotPads and more. 
    • Personal Website: Build a custom website to showcase listings and accept online applications and fees. Customize the website with HTML or CSS coding to promote the brand and company. Free web hosting on vendor servers is included with the Pro and PM plans.
    • Lead Tracking: Track leads and automatically match prospective tenants with vacant units based on their interests and rental preferences. Tenants can save their preferences and get email notifications about suitable vacant properties. 
  • Rental Applications: Choose the best applicants based on personalized parameters with a customizable online rental application form. Accept applications and screening fees online. Store applicants’ data online and notify them upon selection. 
  • Tenant Screening: Identify the best applicants through screening for various parameters like background check, minimum credit score, national eviction searches, SSN validation and more. 
  • E-leasing: Create and store unlimited custom leases with specific clauses and obligations; invite renters to sign them virtually. 
  • Property Maintenance: Receive maintenance requests and assign work orders. Residents automatically receive email notifications upon work completion. Conduct virtual property inspections with the mobile application, powered by ZInspector. 
  • Online Portals: Save time and reduce confusion with a single platform for communication between property managers, owners and residents. The individual portals offer a few extra benefits: 
    • Tenant Portal: Residents can pay rent and ancillary charges, view statements, purchase insurance and submit maintenance requests. They can also receive announcements and notifications via this portal. 
    • Owner Portal: Owners can track property performance, occupancy rates, cash flows and notices. Download statements and reports. 
  • Payment: Receive and pay rent via online bank transfers, credit or debit cards or eChecks. Residents can also directly pay rent via cash by depositing the money at any of the 20,000 cash payment locations provided. They can also set up monthly recurring payment schedules. 
  • Accounting: Review, edit and print ledgers for every property, owner and bank account managed. Electronically file 1099-MISC tax forms with assistance from Nelco Solutions. Save time and reduce human error by automating double or triple entries through the QuickBooks integration. 
  • Reporting: Quickly view, analyze and drill down on specific items with a robust reporting system. Email, print or export reports as PDF or Excel files. 
Rent Manager
Rent Manager
Start Price
$1
Per Unit, Monthly
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request Pricing Request Demo

Why We Picked Rent Manager

Rent Manager garners mixed reviews from property managers. Users praise its ability to streamline operations, automate tasks, and provide robust reporting and analytics for informed decision-making. The online tenant portal enhances communication and resident satisfaction by facilitating rent payments, maintenance requests and communication.

However, the platform faces criticism for its steep learning curve and complexity, particularly for users new to property management software.

Ultimately, the decision to choose Rent Manager depends on individual needs and priorities. It’s a top solution for rent collection, automation, marketing and accounting. However, if user-friendliness and a robust mobile app are high on your requirements list, you’d be better off considering alternative options.

Pros & Cons

  • Robust reporting & analytics: Users appreciate the detailed reports on income, expenses, vacancies and tenant data, enabling data-driven decision-making for improved property management.
  • Streamlined operations & automation: Automating tasks like rent collection, maintenance requests and accounting saves time and effort, freeing managers to focus on strategic tasks.
  • Improved tenant communication: The online tenant portal facilitates easy rent payments, maintenance requests and communication, enhancing resident satisfaction and reducing the communication burden.
  • Marketing & advertising tools: Simplifying advertising vacant units and attracting new tenants through online listings and marketing automation saves time and effort, potentially increasing occupancy rates.
  • Scalability & adaptability: Rent Manager caters to various property sizes and types, offering flexible plans and features that adapt to growing needs.
  • Learning curve & complexity: The interface can be challenging for beginners, requiring significant time and effort to learn and navigate effectively, especially for those unfamiliar with property management software.
  • Pricing concerns: Additional fees beyond the monthly subscription can add up, making it potentially more expensive than competitors for certain users, especially those with smaller property portfolios or limited budgets.

Key Features

  • Marketing: Fill vacancies faster with the following strategic and automated marketing tools: 
    • Prospect Manager: Create branded application portals and allow prospects to apply for tenancy. The system helps you compare prospects and send personalized direct messages and unit letters. 
    • Website Development: Connect the system to an existing website or design a new one from scratch using customizable templates. Alternatively, get assistance from the rmWebPro team for advanced website building. 
    • Guest Cards: Prospects can answer personalized questions while browsing the site and fill out tailored cards. Automatically generate potential client profiles and store them in the database. 
    • Automatic Listing Syndication: Increase inventory visibility by pushing units and property information onto various popular ILS. The system automatically updates ILS postings for every database update. 
  • Tenant Screening: Choose the most suitable tenant by screening the income history, accumulated debt, and criminal and eviction history of each applicant. 
  • Leasing: Digitize the leasing and renewal processes, eliminating the hassle of handling paperwork. Create custom leases with personalized clauses and have clients sign them electronically. 
  • Communication: Interact with employees, owners and renters via VOIP phone calls, custom text messages, voicemail broadcasts and web chat. Offer 24/7 comprehensive maintenance support via its call center, powered by Anequim. 
  • Mobile App: Communicate with renters, owners and managers, receive rental payments, submit inspection reports to maintenance techs and issue work orders. Address rule violations and bill residents for utilities from any Android or iOS device. 
  • Payments: Accept payments in cash, credit and debit cards, check scans, and ACH transfers. The system automatically updates concerned ledgers after every transaction. 
  • Project Management: Customize workflows and automate recurring tasks and data entry. Track and manage inventory to update status and quantities in real-time. Reduce turnover periods for units by creating task lists via Make Ready boards. Delegate duties to associates and receive notifications upon completion. 
  • Property Management: Perform inspections and issue service orders. Track task progress and automate work orders for recurring maintenance activities. Simplify payables by integrating billable expenses into work orders and delegating chargeback costs to owners or tenants at a markup. 
  • Prospect and Tenant Portals: Create branded portals to accept applications and guide prospects through the screening and leasing process. Tenants get unique portals to manage important documents, pay rent, track utility consumption and request maintenance. 
  • Reporting: Gain actionable insights to make informed decisions with over 450 built-in state-specific reports. Alternatively, use drag-and-drop tools to craft personalized reports tracking custom metrics. Define rules to automate timely report generation and sharing with owners or team members. 
  • Accounting: Record company financials, maintain a general ledger, automate receivable and payable entries, manage and track bills, and create budgets using intuitive accounting tools. The system automatically imports bank statements along with reconciliation statements to avoid cross-checking and eliminate errors. 
Zego
Zego
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
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Key Features

  • Zego Pay: Offer multiple payment options, including debit and credit cards, e-checks, digital wallets, check scan and cash. Collect rent into a single account irrespective of payment mode, and simplify reconciliation by collecting rent into multiple bank accounts. Residents can automate the rent payment cycle and set reminders. 
  • Zego Utility: Maximize utility expense recovery and boost operational efficiency by automating invoice auditing, accounts payable and resident billing, and creating intelligent workflows. With individualized billing and submetering, charge residents based on their actual utility consumption. Save time, avoid billing errors, monitor theft and get notified about delinquency within a day. 
  • Mobile Doorman: A customizable app for Android and iOS helps residents pay rent and utility bills, submit maintenance requests, communicate with on-site staff, receive notifications, allow guests entry, submit reservation requests and connect with communities, owners or managers. 
  • Zego Smart: Connect residents to their smart homes and manage their experience from a single platform. Stay competitive by providing a package of smart-apartment devices and property-wide WiFi. Expedite the unit turnover process by enabling self-guided tours and digitizing access keys. 
  • Integrations: Save time and streamline workflows through integrations with popular apps such as Yardi, MRI, Rent Manager, ResMan, CoreLogic, 365 Connect and more. 
Entrata
Entrata
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request Pricing Request Demo

Why We Picked Entrata

Entrata helps property managers handle every business operation, including accounting, marketing, leasing and reporting. Reviews noted that the intuitive interface closely mimics popular social network interfaces, enabling users to use the platform with minimal technical knowledge. Another standout feature is the student housing management module, which allows leasing-by-the-bed and bulk unit assignments to shuffle roommates easily.
However, reviews noted that it doesn’t provide a native email inbox and redirects users to external Microsoft Outlook servers through email notifications. In-depth user-based access role customizations are unavailable, and the platform lacks an itemized record of tracked changes. In conclusion, Entrata can be less effective for large enterprises but is suitable for property managers with small to medium portfolios.

Pros & Cons

  • User-Friendly Interface: Entrata is designed with an intuitive interface that's easy to navigate, making it simple for users to adopt and utilize its features effectively.
  • Comprehensive Feature Set: The software provides a wide array of tools covering essential property management tasks, from handling leases and maintenance requests to generating financial reports, all within a single platform.
  • Seamless Integrations: Entrata offers an open API and supports integrations with various third-party systems, allowing businesses to streamline operations and connect their existing software solutions.
  • Efficient Communication Tools: The platform facilitates clear and efficient communication channels between property managers, residents, and staff, simplifying interactions and improving service delivery.
  • Buggy Software: Users report frequent software glitches, especially with dashboard notifications and after updates, hindering smooth property management.
  • Difficult Implementation: The software setup is often reported as time-consuming and problematic, potentially delaying property management operations.
  • Unreliable Support: Customer support receives mixed reviews, with some users finding it unresponsive or unhelpful when dealing with software issues or seeking assistance.
  • Non-Intuitive Features: Certain functions and tools are not user-friendly, making it challenging for some property managers to utilize the software's full potential.
  • Resident Transfer Issues: Some users experience difficulties with the resident transfer process, leading to inaccuracies and administrative headaches.
  • Reporting Inaccuracies: Generating accurate reports can be challenging, impacting data analysis and potentially hindering informed decision-making.

Key Features

  • Data Management: Help residents move in faster, post transactions to the ledger, track maintenance activities, automate lease renewals and more on a single platform. Incorporate property accounting, purchasing, facilities and leasing data into a comprehensive package. 
  • Prospect Portal: Capture, convert and engage prospects with a secure, responsive website. Choose from a variety of templates to showcase real-time data. Track lead sources, ROI and abandonment rates to make informed marketing decisions. 
  • ILS Portal: Automatically syndicate data on property pricing, details and availability on all primary Internet Listing Services (ILS). Leverage integrations with Zillow, Zumper, Craigslist, Abodo and more. 
  • Revenue Management: Compare regional and seasonal data to price units optimally and maximize revenue. Owners and managers can set desired price range limits and optimize for specific variables with dynamic pricing. 
  • Online Marketing: Pull data from various ILS websites, Google My Business and Facebook Marketplace into one centralized platform. Combine organic SEO with paid ads to help beat competitors. 
  • Reputation Management: Pull all online reviews into a centralized dashboard. Monitor the units’ online visibility over time and post on social media to build and maintain reputation. 
  • Leasing Center: Customize and renew leases with personalized clauses. Bring mobility to leasing through e-signatures and an app for Android and iOS devices, powered by SiteTablet. 
  • ResidentVerify: Screen tenants swiftly based on their credit scores, criminal history, national eviction records and proprietary risk scoring. Attach the results directly to applications received through Prospect Portals to save time. Automatically club screening fees with the application fees. 
  • Payment: Offer residents a complete solution for accepting payments through credit cards, ACH and check scans. Residents can pay with cash by depositing funds at any MoneyGram location across the nation. Receive rent, deposits, utility bills and charges for pets and rentable items via any payment option. 
  • Resident Portal: Residents can pay rent and utility bills, receive parcel delivery notifications, submit and track maintenance and lease renewal requests. Manage resident transactions, send bulk announcements and advertise inventory from a single integrated dashboard. 
  • Accounting: Record company financials, maintain general ledgers and keep track of bills and discrepancies. Create and edit work orders, and record real-time transactional data in books automatically. Store and create snapshots of the company's financial health as and when required. 

COMPARE THE BEST Rental Property Management Software

Select up to 2 Products from the list below to compare

 
Product
Score
i
SelectHub’s Analyst Rating is based on data from our 400+ point analysis of Rental Property Management Software, user reviews, and our own crowd-sourced data from our free software selection platform. Scores are periodically updated via ongoing selection projects and user activity within our platform.
Start Price
Free Trial
Company Size
Deployment
Platform
Logo
AppFolio
$1.49
Per Unit, Monthly
Yes
Small Medium Large
Cloud On-Premise
Mac Windows Linux Chromebook Android
AppFolio
Avail
$300
Per Unit, Monthly
No
Small Medium Large
Cloud On-Premise
Mac Windows Linux Chromebook Android
Avail
Buildium
$55
Monthly
Yes
Small Medium Large
Cloud On-Premise
Mac Windows Linux Chromebook Android
Buildium
Propertyware
$1
Per Unit, Monthly
Yes
Small Medium Large
Cloud On-Premise
Mac Windows Linux Chromebook Android
Propertyware
RealPage
$7.30
Per 10,000 Square Feet, Monthly
No
Small Medium Large
Cloud On-Premise
Mac Windows Linux Chromebook Android
RealPage
Tenant Cloud
$15.60
Monthly
Yes
Small Medium Large
Cloud On-Premise
Mac Windows Linux Chromebook Android
Tenant Cloud
Rentec Direct
$45
Monthly
Yes
Small Medium Large
Cloud On-Premise
Mac Windows Linux Chromebook Android
Rentec Direct
Rent Manager
$1
Per Unit, Monthly
No
Small Medium Large
Cloud On-Premise
Mac Windows Linux Chromebook Android
Rent Manager
Zego
Still gathering data
No
Small Medium Large
Cloud On-Premise
Mac Windows Linux Chromebook Android
Zego
Entrata
Undisclosed
No
Small Medium Large
Cloud On-Premise
Mac Windows Linux Chromebook Android
Entrata

All Rental Property Management Software (37 found)

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AppFolio

by AppFolio, Inc.
AppFolio
AppFolio is a comprehensive software solution designed to streamline property management tasks. It caters primarily to property managers and real estate professionals, offering a suite of tools that facilitate the management of residential and commercial properties. One of the key benefits of AppFolio is its ability to enhance operational efficiency through features such as online rent payments, maintenance request tracking, and automated property listing. Users appreciate its user-friendly interface and the way it simplifies daily management tasks, making it a popular choice among property management professionals. When compared to similar products, AppFolio stands out for its robust functionality and scalability, making it suitable for managing portfolios of various sizes. Pricing for AppFolio typically involves a monthly subscription fee, which may vary based on the number of units managed, emphasizing its flexibility and adaptability to different business needs.
User Sentiment User satisfaction level icon: excellent
Cost Breakdown
$10 or less
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request with no obligation:
Demo Pricing

Avail

by Rentalutions
Avail
Designed for landlords and tenants, Avail is an administration tool to manage online payments, create digital leases and track maintenance requests. Landlords can advertise vacant properties, find tenants, view and scan documents such as applications, criminal and eviction reports, and analyze and calculate property rent. Tenants can view renter profiles, make payments and report rent with CreditBoost. Landlords can use both free and paid versions.
User Sentiment User satisfaction level icon: excellent
Cost Breakdown
$100 - $500
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
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Buildium

by Buildium
Buildium
Buildium is a cloud-based software that helps approve lease applications, manage payments, update financial records, create bulk emails and announcements and resolve maintenance issues on the go. Users can manage portfolios that include community associations, student housing, affordable housing and residential properties.It offers accounting, vendor management, maintenance management, analytics and insights, leasing, community association management and more. The vendor also provides a dedicated onboarding team, 24x7 customer support and a 14-day free trial.
User Sentiment User satisfaction level icon: excellent
Cost Breakdown
$10 - $100
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
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Propertyware

by RealPage, Inc.
Propertyware
Powered by RealPage, Propertyware is a cloud-based tool that helps reduce inspection time, customize reporting, manage online payments, and create and dispatch work orders. Users can create websites, screen tenants, handle portals, track accounts and manage contact centers. It provides a tenant liability insurance program called AssetProtect, along with multi-location management, open APIs and vendor credentialing.
User Sentiment User satisfaction level icon: good
Cost Breakdown
$10 or less
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
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RealPage

by RealPage, Inc.
RealPage
RealPage is a comprehensive software solution designed to streamline property management tasks. It caters primarily to property managers and real estate professionals, offering a suite of tools that facilitate the management of residential and commercial properties. One of the key benefits of RealPage is its ability to enhance operational efficiency through automation of routine tasks, such as rent collection, maintenance requests, and tenant screening. Its popular features include accounting and financial reporting, lease management, and utility billing, which collectively contribute to its reputation as a robust property management platform. When compared to similar products, users often highlight RealPage's user-friendly interface and the depth of its features as significant advantages. However, pricing considerations, which can vary based on the number of units managed and the specific services required, are an important factor for potential users to consider. Payment for RealPage services typically follows a subscription model, with fees charged on a monthly basis.
User Sentiment User satisfaction level icon: great
Cost Breakdown
$10 or less
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
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Tenant Cloud

by TenantCloud
Tenant Cloud
TenantCloud is a cloud-based software that allows landlords to receive rent online, screen and create applications, and manage maintenance requests. It offers tenant management, accounting, a free listing website, automatic invoicing and property analysis reports. It has free, standard and advanced packages. Payment tracking, rental agreements signature, cloud storage, and communication with tenants, owners and professionals are some of its notable attributes.
User Sentiment User satisfaction level icon: great
Cost Breakdown
$10 - $100
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
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Rentec Direct

by Rentec Direct
Rentec Direct
Designed for landlords and property managers, Rentec Direct is a web-based software for property marketing, maintenance and accounting. It helps create customized websites, manage online payments, publish vacancies online and store or share lease agreements, photos and more.It offers nuanced features for property accounting like trust accounting and 1099-MISC eFiling. The vendor provides a two-week free trial and customizes packages based on the number of units to be managed.
User Sentiment User satisfaction level icon: excellent
Cost Breakdown
$10 - $100
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request with no obligation:
Demo Pricing

Rent Manager

by London Computer Systems
Rent Manager
Rent Manager is a web-based platform for landlords and property managers to handle marketing, leasing, maintenance, accounting and reporting tasks. It helps collect rent, communicate with tenants and staff, manage workflows, create maintenance checklists, assign tasks, track inventory, and integrate work orders with bills. Its Make Ready board helps record service tasks, standardize inspection processes and monitor utility consumption history. Tenants get online portals to submit applications, manage leases, pay rent and request maintenance. It offers a rmAppSuite Pro mobile app for iOS and Android. It also provides open API access and built-in integrations with AmRent, AvidXchange, Safeguard, Zego, Opinion and more. Pros Cloud-based, accessible Strong accounting tools Tenant screening options Marketing advertising Maintenance request tools Cons Learning curve
User Sentiment User satisfaction level icon: excellent
Cost Breakdown
$10 or less
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request with no obligation:
Demo Pricing

Zego

by PayLease
Zego
Designed for property owners, managers, developers and homeowners, Zego helps drive efficiency by modernizing and automating workflows. It offers four mobile-optimized modules called Mobile Doorman, Pay, Smart and Utility that ensure seamless integration with each other.Mobile Doorman helps connect managers and residents, streamline communication, conduct surveys, manage work orders and automate lease renewal. With Pay, users can pay and collect rent online and offline, use rent cycle automation, access reports and set digital rent reminders. Smart enables users to manage smart apartments and use expiring lock codes to give vendors or guests access. Utility helps managers audit invoices, streamline workflows and automate utility payments.
User Sentiment User satisfaction level icon: good
Cost Breakdown
$100 - $500
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request with no obligation:
Demo Pricing

Entrata

by Entrata
Entrata
Entrata is a comprehensive software solution designed to streamline property management tasks, making it particularly well-suited for property managers, real estate professionals, and multifamily housing operators. The platform offers an array of features including lease management, accounting, resident communication, and maintenance tracking, all integrated into a single interface. This integration allows users to efficiently handle day-to-day operations, improve tenant satisfaction, and optimize financial performance. One of the standout benefits of Entrata is its user-friendly interface, which simplifies complex processes and reduces the learning curve for new users. Additionally, the software's robust reporting capabilities provide valuable insights into property performance, aiding in strategic decision-making. Entrata's flexibility and scalability make it an ideal choice for both small property managers and large real estate enterprises. Pricing for Entrata typically varies based on the number of units managed and the specific features required, with payment options often structured on a monthly or annual basis. For precise pricing tailored to individual needs, it is recommended to contact SelectHub for a detailed quote.
User Sentiment User satisfaction level icon: great
Cost Breakdown
$100 - $500
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request with no obligation:
Demo Pricing

Corrigo

by Corrigo, a JLL Company
Corrigo
Corrigo offers a comprehensive software solution designed to streamline Facility Management tasks, making it an invaluable tool for businesses seeking efficiency in maintenance operations. The platform excels in work order management, asset tracking, and vendor coordination, providing a centralized hub for all facility-related activities. It is particularly well-suited for large enterprises and multi-site operations due to its robust scalability and integration capabilities. Users benefit from real-time data analytics, which enhance decision-making and operational transparency. Popular features include automated scheduling, mobile access for field technicians, and detailed reporting tools. These functionalities collectively reduce downtime and improve service quality. Compared to similar products, Corrigo is often praised for its user-friendly interface and comprehensive support services. Pricing for Corrigo typically varies based on the number of users and the specific modules required, with options for monthly or annual payments. This flexibility allows businesses to tailor the solution to their unique needs and budget constraints.
User Sentiment User satisfaction level icon: good
Cost Breakdown
$10 - $100
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request with no obligation:
Demo Pricing

Yardi Voyager

by Yardi Systems
Yardi Voyager
Yardi Voyager is a web-based platform that helps real estate operators manage commercial and residential properties across housing industries. Users can execute leasing, manage operations, provide innovative services, automate workflows and run analytics. It offers centralized data access, accounting, compliance, resident screening and more. It also allows customization and integration from a single point of access.
User Sentiment User satisfaction level icon: great
Cost Breakdown
$1,000 or more
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request with no obligation:
Demo Pricing

ResNexus

by ResNexus
ResNexus
ResNexus is a cloud-based solution that helps hotels, campgrounds, bed and breakfasts, lodges, and vacation rentals book reservations for their properties. It offers an online booking engine, an ADA-compliant website, OTA integrations and back-office management.It helps show inventory on online marketing channels, streamline operations, set parameters for automatic yield management and automate booking-specific communication. Other attributes include reservation management, guest detail storage, secure payments and business data analysis.Automated email marketing helps deliver promotions, specials and newsletters to guests, increasing return rate. Sort and collapse current bookings to remove unwanted gaps and open up availability for potential reservations through unit optimization.It also provides a guest portal, contactless check-ins, reservations calendar and grid, housekeeping, front desk, retail add-ons, gift certificates, point-of-sale, dynamic pricing, credit card processing, and more.The product offers per-month, quarterly and annual pricing options. Custom pricing is also available based on property size and season-specific demands.
User Sentiment User satisfaction level icon: excellent
Cost Breakdown
$10 - $100
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request with no obligation:
Demo Pricing

MRI Software

by MRI Software Company
MRI Software
MRI is a real estate management suite consisting of four offerings: Platform X, Application Gateway, Analytix, and Secure Sign. Platform X helps integrate with third-party applications, create a centralized management environment and access information online. Application Gateway provides a single point of entry for Platform X, data integrations, cross-functional workflows and access to the MyMRI support portal. Analytix includes reporting, data visualization, portfolio analysis, ad hoc querying and interactive dashboards. Secure Sign securely manages e-signatures, sets workflows for document management and streamlines transaction and contracts processes.
User Sentiment User satisfaction level icon: great
Cost Breakdown
$10 - $100
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request with no obligation:
Demo Pricing

LiveRez

by LiveRez
LiveRez
Liverez is a vacation rental software that helps manage reservations, advertise on listing websites, automate accounting and communication, and track operations. It offers an intuitive booking grid, websites with integrated content management, an online booking engine and guest portals. It also includes a CRM, lead management, work order management and reporting. Users can also leverage Airbnb integration, and create custom surveys and digital contracts.
User Sentiment User satisfaction level icon: excellent
Cost Breakdown
$500 - $1,000
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request with no obligation:
Demo Pricing

Hemlane

by Hemlane
Hemlane
Hemlane helps owners, agents, managers and tenants manage properties in the long run. Users can advertise properties, automate communication, access credit reports and store contracts. It provides applicant tracking, tenant screening, lease management, online rent and financials, and property maintenance. Customers can choose from three pricing options and take advantage of a one-month free trial.
User Sentiment User satisfaction level icon: excellent
Cost Breakdown
$10 - $100
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request with no obligation:
Demo Pricing

ResMan

by ResMan
ResMan
ResMan is a comprehensive property management software designed to streamline operations for property managers and owners. It's particularly well-suited for those managing multifamily residential properties, offering a suite of tools that cover leasing, accounting, maintenance, and compliance. One of the key benefits of ResMan is its ability to provide a centralized platform for managing all aspects of property management, enhancing efficiency and reducing the need for multiple software solutions. Users appreciate features such as automated rent collection, tenant screening, and customizable reporting, which significantly ease the day-to-day tasks of property management. When compared to similar products, ResMan stands out for its user-friendly interface and robust customer support. Pricing considerations for ResMan typically involve a monthly subscription fee, which may vary based on the number of units managed, making it scalable for both small and large property management companies. This flexibility in pricing, combined with its comprehensive feature set, makes ResMan a competitive option in the property management software market.
User Sentiment User satisfaction level icon: excellent
Cost Breakdown
$10 - $100
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
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SoftPro

by softpro
SoftPro
SoftPro is a web-based application for supervising real estate closing, title insurance and escrow services. It offers accounting and reporting and allows users to manage documents, maintenance tasks and workflows. It helps automate processes and form submissions, and customize documents to stay compliant. It allows integrations with shipping, notary, underwriters and more. It has three plans: standard, select and hosted, and supports Windows.
User Sentiment User satisfaction level icon: great
Cost Breakdown
$100 - $500
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
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Escapia

by Expedia Group
Escapia
Escapia is a cloud-based vacation rental software that helps market, manage and maintain properties. It’s trust accounting certified and can handle complex reconciliations. It has connections with more than 30 distribution channels and offers free listing on Vrbo. Businesses can receive intelligent performance insights based on data from Expedia and Vrbo. It also provides an integrated calendar to manage bookings, housekeeping and other tasks.
User Sentiment User satisfaction level icon: great
Cost Breakdown
$10 or less
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
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Innago

by Innago
Innago
Innago offers a comprehensive software solution designed to streamline the complexities of property management. Tailored for small to mid-sized property owners and managers, Innago simplifies tasks such as tenant screening, lease management, rent collection, and maintenance requests. One of the key benefits of using Innago is its user-friendly interface, which makes navigation and operation straightforward for users of all tech levels. Additionally, its ability to automate and organize property management tasks saves users significant time and effort. Popular features include online lease signing, automated rent reminders, and detailed financial reporting, which collectively contribute to a more efficient management process. When compared to similar products, Innago stands out for its affordability, with a pricing model that lacks upfront costs, instead opting for a pay-per-use approach. This makes it an attractive option for property managers looking to optimize their operations without a hefty investment.
User Sentiment User satisfaction level icon: excellent
Cost Breakdown
$10 or less
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
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Buyer's Guide

Rental Property Management Software Is All About Digitizing Rental Business Processes 

By Riddhiman Roy, Market Analyst at SelectHub

Rental Property Management BG Intro

Gone are the days when it was necessary to run around collecting late rent payments, drown in paperwork, manually record interactions and regret renting to rogue tenants. Luckily, you can now consolidate every leasing, screening, management and accounting workflow under one roof with rental property management software. It allows rental managers to automate, streamline and monitor daily operations to sustain and scale businesses.

With multiple options available in the market, choosing the best fit for your business can be a tedious task. This guide aims to expedite your selection process and help you find a suitable solution based on your needs. It covers an overview of the software, followed by its deployment options, benefits and implementation goals. Finally, it will list basic and advanced features and some popular options to provide a starting point for your selection process. Let’s begin.

Executive Summary

  • Rental property management software helps localize workflows, streamline communications, expedite turnover cycles and optimize marketing efforts.
  • It offers basic features like document handling, eLeasing, tenant screening, payment processing, communication portals, maintenance management, accounting and reporting. Some of the advanced features include marketing suites, embedded business intelligence and more.
  • The global pandemic significantly impacted the real estate industry, but a huge demand for rentals is incoming as the economy recuperates.
  • Rental property management software pricing varies greatly. So we recommend preparing a budget and requirements checklist before sifting through the options.
  • Making a list of questions to ask yourself and vendors can help narrow down your choices.
What This Guide Covers

What Is Rental Property Management Software?

Rental property management software helps owners and managers rent properties, collect rent, automate processes, manage listings and more. It digitizes and consolidates most operations and responsibilities encompassing the rental management business in one place.

You can screen and track tenant information, manage accounting and billing, assign vendors for maintenance activities, and more.

Deployment Methods

Based on your business model and portfolio size, you can choose between on-premise or cloud-based deployment options:

On-Premise

For enterprise-level businesses with proper IT infrastructure already in place, choosing an on-premise deployment model makes a lot of sense. It offers in-depth customization capabilities and absolute control over business data and privacy. Also, on-premise solutions don’t rely on an internet connection.

On-premise systems require you to buy software or licenses and install the setup on proprietary servers. The expenditure on hardware, maintenance, hiring IT professionals and upgrading software add to the hidden costs, making it an expensive investment with a higher cost of entry. However, it’s cost-effective in the long run as businesses can avoid additional subscription costs while scaling operations.

Rental Property Management Software Categories

Cloud-Based

With a cloud-based model, you can securely host the software package and associated data on vendors’ servers and access it through any device using a stable internet connection. It’s an economical option that doesn’t require costly maintenance and upgrades, expensive infrastructure, and IT professionals. It bundles all services and functionalities in one package and allows access through a subscription fee.

But every rose has its thorns. With an external vendor handling your data, you require extra scrutiny and vigilance to counter unauthorized access and territorial breaches. Additionally, the cloud-based option lacks customization capabilities and provides external businesses with a stake in your operations. Meaning disruptions in the vendor’s operations may reflect on your workflow.

The best deployment type depends on your portfolio size, business needs and available infrastructure and personnel. Growing businesses with limited resources might prefer an all-inclusive cloud deployment model, whereas big companies with existing infrastructure and personnel can opt for an on-premise setup. But these rules aren’t fixed, and it’s crucial to determine your unique business requirements before selecting a deployment option.

Primary Benefits

Rental Property Management Benefits

Efficient Workflow

You can consolidate all transactional, marketing, leasing, accounting and management workflows in a single location. Automate rent collections, reminders, bookkeeping, tenant screening, vacancy listings and more.

Reducing the administrative legwork allows you to gather and analyze organizational data and focus on managing and scaling the business. It helps ensure accuracy, standardization and better maintenance of documents and records.

Streamlined Communications

Every business must know its customers’ wants and desires to become successful. A rental property management solution provides a standard interface for tenants to interact with owners and managers. Tenants can use the portal to submit documents, raise issues and send maintenance requests. You can send reminders and notices and perform virtual property inspections.

Most solutions provide a mobile app for remote interactions, and some even offer external maintenance vendors a separate portal to perform and log recurring tasks. Also, record every interaction to maintain a clean audit trail.

Secure Screening

Finding a suitable tenant is always big on any landlord or rental manager’s agenda. The software streamlines the screening process by helping managers check every prospect’s credit score, eviction history, criminal background and more from a dashboard. Set personalized parameters and automate the screening of interested tenants.

Some solutions come with a rent-to-income ratio calculator to eliminate unqualified applicants. Most systems partner with or consult TransUnion’s resident score and credit reports for screening and provide an option to charge an application fee.

Real-Time Updates

A rental property management platform provides a hawkeye view of business processes, allowing you to stay on top of every volatility and adjust operations according to conditions. It alerts owners about pending tax and insurance payments and document renewals to ensure compliance with federal regulations and standards.

Dynamic Marketing

Rental property management software usually comes with a native channel manager, enabling you to list properties across various listing channels and manage every listing from a unified platform. Consolidating marketing efforts for every channel promotes accuracy, consistency and increased engagement per listing.

Some solutions offer personalized websites branded with business logos and colors to increase portfolio visibility online. A few systems provide digital content services to help you develop interactive and innovative multimedia content like 3D tours, drone videos and copy editing to enhance property listings.

Quick Turnover Cycles

Expedite the leasing cycle by automating major processes like screening prospects and receiving online applications. You can shorten turnover periods with timely rent clearance, utility bill payments and updated maintenance activities that allow renters to move in or out quickly. Keep properties ready for renting to generate more revenue, boosting overall ROI.

Implementation Goals

In order to find the right solution, it’s important to recognize and list fundamental goals you wish to achieve through a rental property management system. We’ve modeled a few implementation goals to help you start identifying your objectives:

Goal 1

Improved Efficiency

A rental management solution can help you ensure accuracy and consistency, reduce administrative tasks, eliminate human errors, and focus on problem-solving.

It serves as a central repository of property documents and business interactions, enabling data analysis from one location.

Goal 2

Increased Flexibility

You can manage operations remotely by monitoring workflows, accessing essential documents and interacting with team members and tenants from anywhere. Easily add or subtract properties from your portfolio while scaling your business.

Goal 3

Connected Software Stack

Rental management software is not a standalone solution and integrates with backend systems to deliver various functionalities. It’s built on a flexible API to allow easy integrations with your current software stack like CRM, ERP or CMS and provide room for future upgrades.

Basic Features & Functionality

There are a lot of rental property management solutions available with a unique set of features and selling points. We’ve listed some of the bare-bone features that your rental management system must have to succeed:

Document Management

You can leverage template libraries to create personalized documents like leases, notices, invoices and receipts. Send eLeases to prospective tenants and allow them to sign from any remote location digitally.

Store unlimited documents and monitor their privacy settings. Managers can send property-specific files and reports to owners.
Tenant Screening

It allows you to check every prospect’s credit, criminal and eviction history through direct connection with TransUnion or paid screenings.

Collect screening fees from candidates during the application process and set personalized parameters like minimum income, marital status, age group and more to find ideal tenants.
Payment Processor

Some solutions come with a native payment processor partnered with local and national banks like Entrata, Buildium and Rentec Direct. In contrast, others allow integration with popular digital wallets like PayPal, Stripe and Venmo to process transactions.

Accept credit and debit cards and ACH transfers while allowing tenants to set up recurring rent and utility bills. Charge late rent penalties and create tenant insurance programs.
Property Management

You can receive maintenance requests and assign vendors or staff for each task. Monitor progress from a dashboard, automate invoice payments and maintain a record of every vendor assigned to maintain a clean audit trail.

Manage and track energy consumption and simplify utility management by automating the billing and collection process. A few solutions like RealPage offer a submetering feature to allocate utility bills to every renter based on actual consumption.
Communication Portals

Keep managers, owners, vendors and renters on the same page with a unified platform for interactions. Send texts and multimedia elements using templates to design emails.

Tenant portals allow residents to pay rent and ancillary charges, submit maintenance requests with photos, track progress and receive notifications for guests and delivery parcels. At the same time, owner portals let owners track property performance, occupancy rates and cash flows and download property-specific statements.
Accounting

Automate bookkeeping, record company financials in real time and maintain general ledgers while keeping track of bills and discrepancies.

Most solutions support electronic 1099-S tax form filings and offer integrations with QuickBooks or other accounting software for in-depth snapshots of the company’s financial status.
Reporting

You can access a customizable report templates library to build unique financial reports, helping identify new opportunities.

Optimize prices by drilling down on critical areas to maximize profitability. Most solutions let you export reports in PDF or Excel formats.

Advanced Features & Functionality

CRM

Store all customer data in a central repository and enable users to respond to feedback and reviews from a dashboard. Some solutions like Propertyware and AppFolio offer a 24/7 call center service where agents are equipped with users’ portfolio details to receive sales, leasing and maintenance calls.

Agents can answer custom queries, schedule tours, dispatch pre-approved vendors and automate data input to the repository.
Embedded Intelligence

Streamline tenant screening through AI and leverage machine learning with behavioral data to detect fraudulent prospects. You can simplify property maintenance by automatically choosing the best-rated local vendors and assigning maintenance tasks to them.

Some solutions also offer AI as an optional module to analyze business data and dig out actionable insights.
Rent Analysis

A pretty useful feature, albeit optional, lets you analyze the rent structure of neighboring and local rental properties to quote optimal rent to prospective tenants using AI and machine learning capabilities.

Current & Upcoming Trends

The pandemic caused the apartment rental demand to drop significantly, leading to decreased income and outflow of investor money. But is it all doom and gloom for the rental industry? Certainly not. 2020 was challenging but unearthed many new opportunities and avenues with the rental industry gradually adapting to societal digitalization.

Rental Property Management Trends

Surge in Rental Demand

During the pandemic, people were fleeing to suburbs due to more space, absence of large crowds and lower rent structures, affecting the rental market. But as the government started acknowledging and protecting tenant wellbeing, the market showed signs of recovery.

In Manhattan, more apartments were rented in the third quarter than at any other time in the last 32 years. Other prominent cities are not far behind as the economy recovers, unemployment decreases and discretionary income rises en masse.

Demographic Shifts

The property management industry has been dealing with Millenials for many years. But now, the youngest Millennials (24 years old) and Gen Z (students, freshers and bachelors) are showing interest in the rental industry. A significant challenge for the industry would be to adapt to this shift and satisfy the diverse housing demands of both generations.

Technology would be at the core of this revamping as the upcoming generation is highly tech-savvy. 77% of renters want to pay rent online, 64% prefer digital interactions and 77% look for rentals online before physical searches in the neighborhood, according to a renters’ report.

Demographic Trends

Government Regulations

COVID-19 forced governments worldwide to take drastic preventive measures to protect tenants during a period of turmoil and unemployment. Although the Supreme Court withdrew the national ban on eviction in the U.S., some major states like Washington, D.C. and California still refuse to evict renters from their homes, making it tough for managers and owners to maintain profitability. As the market recovers in 2021, the demand for apartment rentals will rise, but it’ll be interesting to see what happens when market regulations tighten and drive urban rental prices up.

Other government regulations like reducing the number of viewings and carrying them out with pre-screening processes have led to the rise of innovative solutions that allow virtual tours, 360° video tours and more. These new avenues will add to the existing rental management solutions, further enhancing the customer experience.

Smart Homes

At first glance, a smart home might seem like a luxury, but upon closer inspection, we see that it helps attract and retain tenants, allowing managers and owners to increase rent and profits. Rentals with smart locks enable managers to handle property access remotely. Intelligent sensors and thermostats avoid extreme usage of HVAC systems, leading to predictable utility bills each month. Synced digital calendars allow you to schedule agent-free virtual property tours.

On top of that, there’s a higher chance of engaging Gen Z tenants in your rental if you provide amenities like voice assistants, smart lights, smart doors and other technologies.

The Era of Digital Marketing

In this digital age, it has become convenient to look for rentals on property listing websites over physical hunts. With limited open house tours, real estate agents are coming up with unique and innovative methods for property tours. Virtual tours, email marketing, social media and content marketing are some of the exciting trends to look for in 2022 that will change how managers generate leads..

Many solutions offer digital asset management suites, and some provide specialists to outsource and create video tours, property photographs, drone footage, virtual 3D models and more.

With the industry increasingly adapting to this change, the onus will be on the quality of digital content uploaded to help beat competitors and attract suitable tenants.

Software Comparison Strategy

With many options available in the market, we can’t simply point you to a fit-for-all solution. What might work for one business might not work for you. To find suitable software, it’s essential to list all your requirements, necessary features and implementation goals and start striking out the solutions not providing them.

It’s also important to determine what type of buyer you are and how big your business is before singling out the right software:

  • Property owners (1-9 units) can use any basic solution to ensure accuracy, standardization and better maintenance of records and documents. They should avoid expensive solutions with in-depth features.
  • Owners and property managers (10+units) can choose systems that help monitor and manage property workflows from a centralized dashboard.
  • Property management companies and enterprises should go for a robust solution that allows the onboarding of unlimited team members and properties. A solution built on a flexible API can allow easy integrations with the existing software stack.

Once you finish compiling your personalized requirements list, you can refer to the questions mentioned below to start asking yourself and vendors the right questions to find a perfect solution.

Cost & Pricing Considerations

The pricing of rental management software primarily depends on the number of properties you want to manage and the advanced features you desire. Some vendors offer subscription-based pricing, while others provide perpetual licenses based on the deployment option.

We recommend fixing a budget before starting the selection process. Otherwise, it might get dizzying with the vast number of variants available.

Additionally, there might be extra charges for onboarding, data migration and implementation. Some vendors also charge extra for a marketing suite or professional website, so it’s imperative to have a detailed requirements list. Intricately weigh in on required features versus available budget to shortlist ideal solutions for your business.

Most Popular Rental Property Management Software

The popularity of a rental management solution varies according to various factors, such as ease of use, technical offerings, after-sales support, available integrations and more. Take a look at overviews of the industry’s most popular solutions:

AppFolio

AppFolio is one of the most popular software that localizes every management, accounting and reporting workflow and offers a native payment processor and marketing suite. It simplifies the leasing process via AI-powered chatbots and supports virtual tours through video calls.

Businesses can scale easily as the platform supports residential, commercial and community association renting and offers nuanced features like CAM reconciliation, violation tracking and more. It provides a 24/7 contact center as a paid feature for addressing maintenance issues of a large community. The vendor also offers onboarding and staff training services.

AppFolio

Identify opportunities with Appfolio analytics.

Avail

Avail provides a comprehensive package that includes listings management, an online application portal, tenant screening and maintenance tracking capabilities. It supports eLease creation, digital signatures and unlimited document storage. Its standout features are a rental property calculator and a rent analysis module that help businesses set optimum rent after analyzing local competitors and market conditions.

It also offers a native payment processor, FastPay, which deposits rent in the owner’s account the very next day it’s paid. Tenants can make payments, submit maintenance tickets and boost credit ratings with every on-time rent payment through their portals. It automatically reports compliance adherence to TransUnion for credit boosts.

Avail

Market properties on multiple listing channels with Avail.

Buildium

Buildium is a feature-rich software package that can handle every housing rental from residential and commercial to student and community housing. It provides accounting, reporting, listing management, document storage, eLeasing and tenant screening capabilities. It also offers a professional, branded website hosted on vendor servers. The mobile app helps perform on-field property inspections and upload reports to a central repository.

It’s built on an open API to allow easy integrations with existing software and partner with external businesses for unique functions. The showing coordinator module prequalifies prospects based on set parameters before every tour and streamlines the showing process. A renter’s insurance module powered by MSI helps automate every existing resident’s policy management.

Buildium

Create personalized property websites with Buildium.

Propertyware

Propertyware is a comprehensive solution that provides a marketing website, lead tracking tools, listing management, application portals, tenant screening, a native payment processor, property maintenance, and an in-depth accounting and reporting system.

The advanced features include an AI-powered tenant screening algorithm and a 24/7 contact center to receive maintenance calls, schedule showings and answer prospect queries. It also offers a pre-verified list of 135,000 vendors for easy and quick vendor credentialing. Leverage an open API to integrate with existing software stacks or add unique capabilities.

Propertyware

Maintain complicated accounting books with Propertyware.

RealPage

RealPage is an ideal solution for enterprises and large community housings. It offers embedded business intelligence for intelligent tenant screening and in-depth data analysis. Create innovative digital content like 3D virtual floor maps, lifestyle and drone videos, digital brochures, and more to increase engagement.

It offers a 24/7 contact center to receive sales and maintenance calls and comprehensive modules for accounting, reporting, utility management, insurance management and more. It also allows easy integrations with external hardware and software to support smart homes.

RealPage

Create unique digital content to market properties with RealPage.

 

 

Questions To Ask Yourself

Rental Property Management Key Questions To Ask

Use these questions as a starting point for internal conversations:

  • What’s your deployment strategy?
  • What type of property are you renting — residential, commercial or community housing?
  • Would you require multi-location property management capabilities?
  • What level of reportage does your business demand?
  • What nuanced features do you desire?
  • What’s your overall budget — for software and additional features?
  • Which existing software would need integration with your new rental property management software?

Questions To Ask Vendors

Use these questions as a starting point for conversations with vendors:

About the Software

  • Does the software provide all essential functionalities?
  • Can it handle your entire property portfolio?
  • Is there a mobile app available?
  • Will it provide adequate marketing capabilities that align with business growth?
  • Is it built on a flexible programming interface for easy integrations?
  • What are the paid features, and will they help your business?
  • Is the solution scalable?

About the Vendor

  • Is the company growing or established in the market?
  • What are the technical support options available?
  • Is there a comprehensive onboarding and training process?
  • What’s the response time of the vendor support team?
  • Is there any third-party periodical auditing for the vendor’s stored customer data?
  • Are there any unique partnerships that add value to the software?

In Conclusion

Each software has its own set of functionalities and target audience. Investing in the right solution can not only help you streamline work processes but also gain valuable clarity into business operations. You can use rental property management software to scale your business, better communicate with renters and guarantee consistency across all channels. Hopefully, this buyer’s guide can point concerned professionals towards an ideal solution that adds value to their organization.

About The Contributors

The following expert team members are responsible for creating, reviewing, and fact checking the accuracy of this content.

Riddhiman
By Riddhiman Roy
Technical Content Writer
As a Senior Technical Content Writer at SelectHub, Riddhiman Roy delivers content about eCommerce, legal, employee scheduling, procurement, hotel management and property management software. He holds a Master's in multimedia journalism from the Indian Institute of Journalism and New Media. When he is not fighting huge-article-ogres and evil Grammarly suggestions, you can find him in his natural habitat grooving to music and banging his drumkit.
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Shweta
Technical Research By Shweta Bhandari
Senior Analyst
In her role on SelectHub's research team, Shweta Bhandari works on categories like manufacturing, CMMS, construction ERP, takeoff software, supply chain management, field service, construction bidding software and construction estimation software.
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Kankana
Technical Review By Kankana Kalita
Principal Analyst
A seasoned business and research analyst, Kankana Kalita specializes in ERP, CMMS, manufacturing, construction, supply chain, HRMS and CRM. Prior to joining SelectHub, she earned a Bachelor's degree in Computer Science and Engineering, an MBA in Operations and Marketing, and worked in email marketing and logistics.
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Pooja
Edited By Pooja Verma
Content Editor
Pooja Verma is a Content Editor and Senior Market Analyst at SelectHub, who writes and edits content for endpoint security, legal, CRM, fundraising software, eCommerce, and mental health software. She earned a literature degree from Miranda House, DU and also holds Master’s in Journalism from Symbiosis Institute of Media and Communication in India. In her free time, you can spot her reading a book or binge-watching the latest web series and movies.
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