The Best Property Management Software for Your Business

The Big Picture On The Best Property Management Software:

Automate your rental property tasks like rent collection, tenant screening, and maintenance requests with software customized to your needs.
Find management software options for landlords of all sizes, including free and premium tools that streamline operations and boost profitability.
Manage your rental properties more efficiently with software that automates advertising, rent collection, and tenant screening, saving you time and reducing stress.

Why Work When You Can Automate?

The whole point of investing in rental properties is passive income. If you’re spending your nights and weekends manually collecting rental applications, writing lease agreements, or collecting rent payments, you’re doing it wrong. The best property management software allows you to do all these things with the click of a button.

Rental property manager software allows landlords and real estate property management companies to oversee their properties in one place. It automates actions like:

Automated Action
Benefits

Advertising properties
Wider reach, faster tenant acquisition

Collecting rent payments
Improved cash flow, reduced late payments

Screening applicants
Better tenant quality and reduced risk

Requesting maintenance work
Faster issue resolution, improved tenant satisfaction

Tracking profits and expenses

Better financial oversight, easier tax preparation

In short, rental property manager software allows landlords to stay organized and on top of their properties, saving both time and money.

But it’s difficult to know what’s the best landlord app for your business. Many options are out there, and many don’t disclose their pricing and fee structure. And with extra costs and hidden fees, it’s not easy to compare like for like.

Here’s our take on the best property management software for each landlord and property manager type. We’ve also included the best free property management software!

 

What Features Should You Look for In Rental Property Manager Software?

Picking the best rental property management software for your business depends on several factors. These include the number of properties you manage, your mobility, your budget, and the number of people on staff.

However, regardless of the rental property manager software you choose, you need some standard features for the right level of automation and overview.

 

On the Cloud

Traditionally, rental property manager software was managed from one application on your desktop. But increasingly, the best landlord apps for mobile property managers are cloud-based, ensuring your information is accessible from multiple devices.

It’s handy when you’re at a loose end and want to do some admin while on the go. And, for that matter, when your computer suddenly sparks and fizzles and displays the “blue screen of death”!

 

Collecting Rent and Managing Expenses

When you’re juggling multiple properties, don’t let your precious time be sucked up by collecting and chasing rent payments. Even free property management software allows you to collect rent online and track late payments.

However, you must also track your expenses to have a complete overview of your passive income. That’s why the best rental property manager software integrates your rent ledger and tracks your expenses. This allows you to automate as much of your accounting work as possible and easily generate essential reports.

Ideal landlord apps let you generate income and expense reports with one click and Schedule E tax statements. Who said landlord accounting had to be hard?

 

Maintenance Management

The best rental property management software doesn’t just allow you to record work orders for your properties. They also allow you to request and track maintenance work orders. Even some free software for rental property management allows you to store information securely and easily, like photos and documents.

Good landlord software also helps you track tenant communications with a system for recorded maintenance messaging.

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Advertising Vacant Units

Rental property manager software that automates advertising your rental properties is a must because it’s such a time-consuming process. Even free property management software allows you to advertise a property at the push of a button, syndicating it to top real estate sites like Trulia or Zillow.

The best property management software will also automate the rental application process. You can automatically generate and send a rental application to your applicants, which they can fill out online, e-sign and send back to you.

 

Screening Tenants

Nothing ruins your bottom line faster than a bad tenant who never saw a bill they wanted to pay on time. But tenant screening can also eat up your time and bog you down with paperwork.

The best property management software automates this process as much as possible, allowing you to run tenant screening reports instantly, including full credit reports, criminal reports, eviction reports, and housing history reports. Ideally, you can also select who pays the fees: the applicant or you.

Some landlord apps even let you generate a free background check for applicants!

 

Protecting Your Investment

Elite property managers use an ironclad lease agreement to protect your property from the very beginning. If a rule isn’t written into the lease, it’s not enforceable.

So, the best property management software programs generate custom lease agreements for you at the click of a button. It should also let you generate late rent notices instantly.

Which rental property manager software is the best for you? That depends on the amount of properties you’re dealing with and your requirements.

Here’s the list of our recommendations for the best property management software for each type of landlord.

 

Best Free Property Management Software for Smaller Managers & Landlords: SparkRental

What, you thought we wouldn’t include our own app on this list?

We get it: you’re building your property empire one property at a time and want to avoid unnecessary expenses. However, managing everything by yourself is time-consuming and costly, and it eats into your passive income. So, you can’t afford not to automate either. What to do?

SparkRental’s free property management software has all the features a landlord or smaller property manager needs to automate their property management. Without costly fees and monthly charges, landlords can save time and money operating their rental business.

Spark Rental’s standard plan has a minimum monthly cost of $0. However, if your needs change, you can upgrade to our premium plan ($19) or ultimate plan ($39).

 

Pros:

Send your rental listing out to Trulia, Zillow, and HotPads, reaching 120 million Americans
Collect free, instant rental applications that your applicants fill out and sign online
Run complete tenant screening reports (either instant or charged to applicants)
Create a free lease agreement with protective clauses of your choosing
Collect rent online, direct deposit into your account
Track your rent and expenses in one place for quick and easy accounting
Store your documents, property condition photos, and records in a secure property management hub
Generate and send late rent and other tenant notices with the click of a button

Cons:

The free plan does not include maintenance and communication logging, landlord website builder, or priority customer support
For properties of 75 or more units, you’ll probably require more customizable property management software.

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Best Property Management Software for Large Managers: Buildium

If you’re managing 75 or more units, those little expenses that you could just absorb before will start to affect your bottom line. And you’ll need features like customer service and better oversight. It’s time to kick it up a notch and automate more steps, which means spending more.

Our pick for the best property management software for large landlords and property managers is Buildium. It’s one of the best-known names in the industry, and for good reason. Its software is flexible and easy to use.

However, Buildium’s minimum monthly cost, starting at $47 for 1-20 units, may not make financial sense for the smaller landlord.

 

Pros:

Easy-to-use tools with an excellent digital tour for the novice
Robust online security and Stevie Award-winning, 24/7 customer service
Set custom credit score requirements to screen applicants on the Pro plan quickly
Prorate standard charges among tenants
Set up regular inspections automatically with their partner Happy Inspector
Convert maintenance work orders into bills, which can be paid online
Enables tenants to authorize their bank accounts, set up automatic payment schedules, and submit maintenance requests

Cons:

There’s a mobile app but only for essentials, and its site isn’t very mobile-friendly
High monthly cost from the get-go
Not as customizable as other rental property management software

 

Best Rental Property Management Software for Mobile Functionality: Appfolio

Buildium is a good option for the larger landlord or property manager. However, it’s not particularly mobile-friendly. If you want to manage your properties on the go, our vote goes to Appfolio. Every function is available on mobile devices.

Appfolio’s minimum monthly pricing starts at $1.25 per unit per month. But with a $250 minimum monthly payment and a $400 onboarding fee, it’s more expensive than Buildium.

 

Pros:

Offers similar features to Buildium, but its platform is fully mobile-responsive
Easy-to-manage software that’s intuitive and quick to master
Upload pictures taken with your phone and record verbal notes with the inspection feature
Responsive customer service
Offers a wide range of plans to suit your property portfolio: residential, commercial, student housing and community associations

Cons:

Appfolio does not offer free trials to prospective customers, but a free demo is available
Minimum monthly pricing is more expensive than Buildium

 

Most Customizable Property Management Software: Rent Manager

If you want a property management app that can be tailored to any portfolio of any size, the best software for you is highly customizable.

In this case, our vote goes to Rent Manager. Its pick-and-choose features and unique pricing structure suit all kinds of landlords who manage all kinds of properties.

Rent Manager charges a flat monthly rate of $75 per user, not a rental unit. This pricing structure could suit companies with many properties and few employees.

 

Pros:

Tailor the application to your needs and requirements, including the drop-down menu choices on your dashboard
VoIP technology automatically identifies and opens the caller’s records, speeding up conversations
Fully integrated with multiple partners with full read and write data functionality, including AmRent and Safeguard
Eliminate the need to print and send documents through the mail with Virtual Post Office

Cons:

Rent Manager’s software is hosted on a remote desktop rather than cloud-based, which means it can be laggy
Interface design isn’t as intuitive as other property management software and is harder to learn
If you’re handling a smaller number of units, the flat rate of $75 might not make sense economically

 

Best Property Management Software for Short-Term and Vacation Rental Managers: Guesty

Property managers who are looking for property management software solutions for short-term and vacation rentals should consider Guesty as their first pick. The platform has many features and a scalable pricing model that accommodates single properties to large-scale operations.

Also, Guesty is pretty good at integration for short-term rental management — the software seamlessly connects with popular platforms like Airbnb. It also has tools for listing management, revenue optimization, and guest communication. 

As for the pricing structure, small property managers (with 1-3 properties) can opt for the Lite plan at $23/month per listing. The Pro plan, starting at $27/month per listing, serves those managing 4-199 properties with advanced features to support the business.

On the farther end of the spectrum, large-scale operators with 200+ listings can benefit from customized pricing arrangements. 

Pros:

Offers creation of detailed reports utilizing over 65 parameters and user-defined fields.
Centralizes management of listings from multiple services like Airbnb and Booking.com.
Property managers can access a secure direct booking and guest communications system.

Cons:

Certain features, including specific guest communication tools, require additional payments beyond the standard package.
The pricing structure includes a one-time onboarding fee and a 2-5% commission on bookings, supplementary to the base subscription cost.

Best Property Management Software for Managing Residential Rental Buildings: Rentec Direct

Suppose you’re looking for property management software for portfolios of any size. In that case, our recommendation leans towards Rentec Direct due to its dual offerings: Rentec Pro for landlords and Rentec PM for property managers. This allows users to select the version that best suits their needs and property types.

Rentec Direct’s pricing model starts at $45 per month for up to 25 units, which makes it suitable for small to mid-sized portfolios. As usual, as your property count grows, the software cost scales with it.

Pros:

Provides an extensive toolkit for managing leases, tenants, vacancies, etc..
The platform has a work order system, including electronic vendor payments.
Property managers can leverage its tenant portal and credit reporting functionalities.
Specialized accounting tools are available to meet the needs of property management firms.
Financial transactions can sync seamlessly with the property manager’s bank.
The software proves particularly effective for self-managed properties.

Cons:

Tenant screening and certain services require additional fees beyond the base package.
The platform does not include pre-made rental form templates, potentially limiting convenience for some.
Customer support operates on limited hours and does not offer 24/7 assistance.

Best Property Management Software for Managing Your Tenants: TenantCloud

Like Rentec Direct, TenantCloud offers tools to streamline property management tasks such as listing properties or handling maintenance issues. And it’s cloud-based, so you can work pretty much anywhere. 

With TenantCloud, landlords and managers can effortlessly collect applications, facilitate tenant move-ins, and accept online rent payments. Communication with tenants is also enhanced through multiple channels, such as a messenger app, mobile application, property message board, and email integration.

TenantCloud’s maintenance management features stand out. It lets users track each request’s labor time, supplies, materials, and expenses while allowing vendor interactions and equipment scheduling — talk about convenience!

In addition, all subscription tiers provide access to online rent collection, tax reporting, e-signature functionality, and a CRM for tenant tracking. Higher-tier plans unlock additional features such as a lease builder, landlord forms, and QuickBooks integration.

Now, what’s the price for a TenantCloud subscription? Starting at $15.60 per month, although it offers scalable solutions to meet the needs of various property management portfolios.

Pros:

Extensive management of residential rentals, which is ideal for small portfolios.
Good applicant and tenant oversight, plus marketing and financial tools
Extensive integration capabilities with various applications
Flexible reporting features allowing customization and exports to Excel or PDF

Cons:

Delayed payment processing: 2-3 business days for card transactions, 5-7 for ACH
Additional fees for tenant payments: 3.5% plus $0.30 per credit/debit card transaction

Over to You

Regardless of the size of your business, the best property management software will save you precious time and money by automating your day-to-day operations. You’ll have an overview of your rent payments and expenses and can send and receive tenant applications with the click of a button.

If you manage a large number of properties, the best property management software will cost you. Make sure that the software suits your requirements and price range, such as mobile integration and property type.

But if you’re a small landlord or property manager, you can’t go wrong with SparkRental’s free landlord app. It automates those jobs that consume so much of your time with the click of a button. It also gives you peace of mind with automated screening reports and tenant notices.

 

Do you happen to have any tips about what property management software to choose? How do you prefer to automate your landlord tasks? Let us know in the comments!

 

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