The Best Property Management Software of 2020

Our property management software reviews are the result of over 40 hours of research on 45+ property management software companies from across the web. These reviews and our property management software guide help small businesses find the best property management software for their business.

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How We Chose the Best Property Management Software

As a property owner, landlord or manager, your needs ultimately determine which property management software is right for you. There are many property management software companies out there touting multiple features and services, but not all live up to their promise.

To help you make a sound decision, we set out to evaluate companies on factors that matter most to users. We relied on the following methodologies to draw up a list of the best property management software options on the market.

Property Criteria

Owners’ needs can vary greatly depending on the type and number of properties they own. We evaluated property management software to find the best options for residential and commercial properties. We chose software with the necessary features to help owners manage their properties and communicate seamlessly with tenants and property managers.

We also went with software that supports a variety of residential and commercial property types and can scale up and down depending on the property’s needs and size.

Accounting Features

If you can’t monitor your property’s performance effectively, you may be suffering losses year after year. Manual tracking of rental property income and expenses can be taxing and result in errors. Property management software with accounting integrations can solve this quagmire and help you maximize your ROI.

Good property management software should assist owners with accounting tasks. In our review, we leaned more toward property management software that can collect and track rent payments, store financial records and transactions, track expenses and generate reports to provide an overview of operations.

Marketing Automation

Marketing rental properties and finding qualified tenants are among the most challenging tasks for property owners and managers. Waiting for tenants to knock on the door is no longer effective. A good property management software should offer features that allow for easy property marketing, and it should also help with tenant evaluation to help ensure only qualified applicants are accepted.

We evaluated property management software for its marketing features and integrations that make creating and promoting property listings easy for owners and managers.

The 15 Best Property Management Software of 2020

CompanyPriceFree Trial / DemoMore
AppFolio Property Manager$250 per monthFree trialVisit AppFolio Property Manager
BuildiumStarts at $50 per monthFree trialVisit Buildium
Condo Control Central SoftwareCustom quoteFree trialVisit Condo Control Central Software
EntrataCustom quoteFree demoVisit Entrata
HemlaneStarts at $30 per monthFree trialVisit Hemlane
MRI Residential ManagementCustom quoteFree trialVisit MRI Residential Management
PropertywareStarts at $250 per month; $1 per unit per month with $250 minimumFree trialVisit Propertyware
Re-LeasedCustom quoteFree trialVisit Re-Leased
RealPageCustom quoteFree trialVisit RealPage
Rent ManagerCustom quoteFree demoVisit Rent Manager
Rentec Direct$35 per monthFree trialVisit Rentec Direct
ResmanCustom quoteFree demoVisit ResMan
TrueRentStarts at $25 per month (Based on 10 units)Free trialVisit TrueRent
Yardi Breeze Property ManagementStarts at $100 per monthFree trialVisit Yardi Breeze Property Management
Yardi VoyagerCustom quoteFree demoVisit Yardi Voyager

AppFolio Property Manager

AppFolio Property Manager
AppFolio Property Manager is a software that offers an all-in-one solution for property management functions. The tool allows owners and managers to market their properties and automate management tasks related to their commercial, residential and student housing properties. Community associations can also utilize the platform.

The software’s salient features include:

  • Tenant portal where tenants can pay rent securely through a payment gateway, communicate with the property owner or manager, make maintenance requests, schedule inspections and sign up for renters’ insurance
  • Built-in screening, accounting and reporting tools
  • Bulk text messaging
  • Rent comparison tool
  • Automatic bill posting
  • Website building platform

Property owners and managers can track vacancies and rent payments, manage cash flow, make property listings and sort tenant applications. Clients receive access to training and resources to help them streamline their operations, and a support team is also available.

A 30-day free trial is available for customers who wish to sample the software before subscribing to its paid package, which costs a minimum of $250 per month. Pricing is based on portfolio, with discounts available with annual billing.

PriceFree Trial / DemoFeatures
$250 per month minimumFree trial>Mobile app
>Third-party integrations
>Residential and commercial property management
>More features at AppFolio Property Manager

Pros & Cons of AppFolio Property Management Software
AppFolio offers an easy-to-use platform for both property owners and tenants. It provides many options and functionalities that most customers are looking for in property management software, including accounting and property marketing. Users note it delivers value for their money and is easy to implement.

ProsCons
>Easy-to-use and implement platform
>Feature-packed software
>Stellar accounting functions
>Lacks room for customization outside the standard report format

What Customers Are Saying
Across the board, customers note that AppFolio is easy to use and offers plenty of property management functionalities at an affordable price. One user says, “I love the ease of use of this software. It gives me so many options for reporting, investigating any issues, and my tenants love that they can pay online and request maintenance online as well. I love the look of it, it is modern without being gaudy.”

Buildium

Buildium
Buildium property management software is a cloud-based tool that gives managers of residential and association properties complete control over their operations. The system helps streamline all property management processes, from rent collection and accounting, to vacancy management and owner and tenant communications.

Clients can rest easy knowing this cloud-based system can be easily accessed from anywhere using a browser. The software’s core features include:

  • Tenant and credit screening
  • Online rental applications
  • Lease tracking
  • Reporting tools
  • Online maintenance requests and tracking
  • Electronic payments and full general ledger reporting

The software automatically handles operations, such as vacancy advertisement and payment tracking. Managers also get a platform where they can create marketing websites to list their properties and communicate with owners and tenants. Detailed reports are generated to provide a bird’s-eye view of all properties in a portfolio and help monitor other parameters.

Buildium offers a 15-day free trial. Pricing starts at $50 per month, and pricing plans are designed to grow with you as your business grows.

PriceFree Trial / DemoFeatures
Starts at $50 per monthFree trial>Tenant and owner portals
>Reporting/analytics
>Residential and commercial property management
>More features at Buildium

Pros & Cons of Buildium Property Management Software
Buildium provides an array of benefits for property managers looking to streamline their operations and reduce costs. Custom rental applications and tools for automating all aspects of property management are some of the strongest selling points for the platform. The software is also easy to learn and navigate. However, some users note difficulty using the email feature.

ProsCons
>Has visual appeal and is easy to learn and use
>Great functionality and varied tools for property management
>Frequent, valuable updates
>Email feature is difficult to use

What Customers Are Saying
Clients comment on the software’s ease-of-use and say that upgrades are valuable because they’re based on user experiences and requests. One user remarks, “The software is easy to use and fairly flexible; we do use it in some ways that are not intended to address unique situations. I also like that there is a forum for user requested features where the community can ‘vote’ on improvements.”

Condo Control Central Software

Condo Control Central Software
Condo Control Central Software is designed specifically for condo or HOA management. It completely automates property management processes and seeks to streamline the interactions and communications between property owners, managers, tenants, condo board members and the property’s security staff.

The software allows broad functionality for users, including:

  • Making online payments
  • Booking amenities
  • Handling packages
  • Storing and managing documents
  • Requesting packing permits and asking for service requests.

Property owners can leverage the platform to create websites for their condos to allow them to poll residents and share community details or events.

Condo Control Central Software also provides a unique security and concierge console that lets property managers and security staff track authorized entry into a condominium and reported incidents. The software even includes an online store functionality that managers can set up to sell items, such as keys and fobs.

A 30-day trial period is provided, and pricing can be obtained by contacting the company.

PriceFree Trial / DemoFeatures
Custom quoteFree trial>Mobile app
>Residential property management
>Tenant and owner portals
>More features at Condo Control Central Software

Pros & Cons of Condo Control Central Property Management Software
Users note that the software is easy to use and can be learned quickly. Its interface is clean, and for the most part, self-explanatory. Condo Control’s main selling point is its ability to seamlessly manage condos and homeowners associations by providing a unified communication platform. Managers can quickly and easily send notifications or announcements to everyone associated with the property.

ProsCons
>Easy to use and includes training videos
>Parking permit feature for seamless parking
>Great announcement features
>Lacks marketing and tenant screening features
>Pricing isn’t listed online

What Customers Are Saying
Overall, customers have few negatives to share about Condo Control. Most users praise the software’s capabilities, with one saying, “I have been using Condo Control Central for the last 3 years to assist in managing my condominium corporations. I love the way I can easily send announcements to everyone associated with the condominium from owners to tenants to staff on building related issues quickly and easily. [The] CCC team listens well to feedback and implements product upgrade requests much more quickly than other software in the market.”

Entrata

Entrata
Entrata software encompasses property management, resident management and property accounting. Its core selling point is its open API that allows for a superior selection for third-party integrations, making it possible for property owners and managers to choose the software that best suits their needs.

Entrata’s main features include:

  • Accounting
  • Online marketing and listing
  • Forecasting
  • Lead management
  • Price benchmarking
  • Applicant screening
  • Call center service
  • Mobile leasing app
  • Insurance management
  • Parcel notifications
  • Billing and utility management
  • Reputation management and payment processing.

Entrata makes it easy to track maintenance work orders submitted by residents. Additionally, the platform offers secure and easy-to-access storage for relevant documents. Support is available via email and phone.

A free trial is not available, considering the software is free and has no enterprise pricing. However, there are fees for some features, such as the leasing and marketing suites. Customers can contact the vendor for custom quotes.

PriceFree Trial / DemoFeatures
Custom quoteFree demo>Marketing and accounting tools
>Tenant/lease tracking
>Owner and tenant portals
>More features at Entrata

Pros & Cons of Entrata Property Management Software
Entrata makes work easier for owners and agencies in many ways. It smooths the communication process between managers and residents and streamlines tasks, such as rent collection and maintenance requests and repairs. According to users, the biggest con is the lack of customization abilities.

ProsCons
>Ease of communication
>Streamlined rent collection and maintenance services
>Unlimited file and asset storage in the cloud
>Pricing isn’t listed online
>Lacks customization features

What Customers Are Saying
Customers say Entrata is an affordable all-in-one solution that provides reliable integration with other tools essential in property management. One user says, “As an all-in-one solution (website, email marketing, SMS, online inventory management, leasing data, renter management), Entrata is very effective and provides solid integration with ILS (internet leasing services like Apartments.com and Zillow) for pushing out data updates.”

Hemlane

Hemlane
Hemlane is a cloud-based residential and commercial management software designed to support small businesses. It connects property owners, managers and agents and helps them maintain stable relationships. As such, owners can lessen their workload and receive constant support from industry professionals.

The software’s core features include:

  • Applicant screening
  • Rent collection
  • Maintenance coordination
  • Document storage

Through the platform, users can market listings on over 40 websites to increase their visibility and fill vacancies.

Financial features provided by the tool include instant bank verifications and income and expense reporting. A mobile app is available that lets users access the platform’s features while on the go.

A 30-day trial is available for customers looking to test-drive the software before subscribing to its paid packages, which start at $30 per month. No setup costs are required, and annual billing allows for the best rates.

PriceFree Trial / DemoFeatures
Starts at $30 per monthFree trial>Residential property management
>Reporting/analytics
>Billing/invoicing
>More features at Hemlane

Pros & Cons of Hemlane Property Management Software
Hemlane offers clients a host of property management features at a reasonable price. The software is easy to learn and use and lets landlords streamline the steps and tasks necessary for managing tenants. With the tool, users can see all their property information in one place, track financials in real time and communicate with tenants seamlessly. The support service is also reliable, however, financial features could use some upgrading.

ProsCons
>Property information is available at a glance
>Financial tracking in real time
>Customer support is reliable
>Financial features are a bit basic compared to competitors

What Customers Are Saying
Customers give Hemlane high marks for functionality and the ability to streamline property management tasks. One user remarks, “This software was made to make your life as a landlord easier and streamline many of the steps and tasks necessary when it comes to managing tenants. I spent quite a few hours filling out a decision matrix to select which software platform we were going to use. Hemlane was the easy winner with the items which we weight heavily and features that we wanted. Most of our weights and preferences stem from wanting to have a very streamlined and efficient property management system.”

MRI Residential Management

MRI Residential Management
MRI Residential Management is designed with multifamily property managers in mind. The system aims to help managers control everything from marketing to tenant leasing and maintenance coordination, with the goals of increasing property occupancy and reducing costs.

The software has role-based dashboards that let owners, managers, landlords and agents see all the aspects of the property important to them. Core features include:

  • Accounting management
  • Portfolio performance management
  • Reporting and analytics
  • MRI information exchange
  • MRI GO
  • Flexibility toolkit
  • MRI application exchange

The online leasing feature allows prospects to view available vacancies, complete applications and undergo a screening process. The software’s secure and modern architecture enables businesses to scale their operations as they grow. MRI Residential Management is best suited to companies managing more than 500 units.

A seven-day free trial is available to check out the software’s offerings firsthand. Pricing for paid packages is only available upon request.

PriceFree Trial / DemoFeatures
Custom quoteFree trial>Tenant screening and lease tracking
>Marketing tools
>Third-party integrations
>More features at MRI Residential Management

Pros & Cons of MRI Residential Management Property Management Software
MRI is an attractive, easy-to-use and feature-packed software ideal for large properties and managers who want to stay competitive. It delivers a variety of detailed reports to help owners and managers gauge their assets’ performance and determine how to achieve better results. However, some users note that it could use streamlining to make connections with other applications easier.

ProsCons
>Easy to learn and use
>Suitable for large properties
>Delivers detailed reports
>Pricing isn’t listed online

What Customers Are Saying
Users remark that the software is easy to learn and use and can help manage many properties. One user says, “I will admit MRI (like most) can be a little glitchy and slow at times but what it lacks in that it makes up for in the variety of reports you can pull and is probably the easiest system to correct errors in and make changes in. MRI is attractive, easy to use and will amaze you with the amount and type of data that can be populated and displayed.”

Propertyware

Propertyware
Propertyware is designed specifically for use by single-family and small residential property owners. The tool offers a suite of solutions for marketing, management, accounting and reporting.

The scalable and flexible software is a cloud- and web-based platform with all the tools and features necessary in managing properties and tenants. Its salient features include:

  • Social tools to encourage interaction between managers, staff and tenants for smooth coordination of rent payments, maintenance requests and other functions
  • Leasing and maintenance contact center where vendors can be dispatched automatically to handle emergencies

Propertyware allows users to list and market their properties and includes lead-to-lease functionality. Tenant screening tools are also part of its offerings.

A free trial is available. The company’s packages start $1 per unit per month, with a $250 minimum.

PriceFree Trial / DemoFeatures
Starts at $250 per month; $1 per unit per month with $250 minimumFree trial>Mobile app
>Marketing and accounting tools
>Owner and tenant portals
>More features at Propertyware

Pros & Cons of Propertyware Property Management Software
Propertyware has numerous capabilities, and users find it helpful in creating connections between owners, managers and tenants. Communication tools, such as automatic email alerts and text messaging, as well as robust reporting features, allow users to streamline the property management experience. Users also note that customer support is very helpful. The downside is that the interface is not very user-friendly, and the team at Propertyware takes a long time to roll out new features.

ProsCons
>Great communication and reporting tools
>Responsive and helpful support
>Highly customizable
>User interface is not very user-friendly
>Delayed upgrades

What Customers Are Saying
Customers appreciate that Propertyware is customizable, flexible and scalable as property management needs change. One user notes, “Unlike most software in this space, Propertyware is highly customizable, even having an open API available in its top-tier package. This makes the software flexible based upon your individual processes, rather than having to tailor your processes to work within the software, as is the case with Propertyware’s competitors.”

Re-Leased

Re-Leased
Re-Leased is a cloud-based software designed for managers of both commercial and mixed-use properties. It’s deployed via web browsers and iPhone and Android apps.

The software’s core features include:

  • Portfolio management
  • Accounting tools
  • Tenant communication
  • Document storage and reporting and analytics
  • Compliance management tools to help property managers comply with housing laws and regulations
  • Ability to sync financials and tenant data in real time with Xero

One of the software’s essential tools is its communication module and calendar dashboard that alerts property managers about payment dates, daily tasks, maintenance requests, lease expirations, property inspections and safety compliance issues. Tenants can also use the system to make rent payments, view their lease terms and create and track maintenance requests.

Customers have to contact the vendor for pricing, but a 14-day trial period is available to decide if the software suits your needs.

PriceFree Trial / DemoFeatures
Custom quoteFree trial>Third-party integrations
>Billing/invoicing
>Mobile app
>More features at Re-Leased

Pros & Cons of Re-Leased Property Management Software
Re-Leased is an easy-to-use tool with vast capabilities for portfolio management. The system integrates with third-party solutions, such as Xero, making it easy for property managers to invoice tenants on time. Mobile access allows managers to perform varying tasks from anywhere as long as there’s an internet connection. However, the tool doesn’t support tenant screening.

ProsCons
>Broad capabilities for portfolio management
>Seamless integration with Xero
>Mobile access
>Doesn't support tenant screening
>Pricing isn’t listed online

What Customers Are Saying
Customers praise the software for its efficiency and effectiveness, as well as its support team. One user says, “Re-Leased is a very accurate and clean software to use. It has saved me 100s of hours chasing invoices, payments and maintenance tracking for my business! But what I like the most is how quick, efficient and amazingly friendly the customer support team is! … All of it can be done from anywhere, so long as you’ve got an internet connection!”

RealPage

RealPage
RealPage is a cloud-based system built to manage properties of any size. It’s suitable for owners and managers handling commercial, student housing, military housing, senior living and vacation rental properties. The integrated system offers an array of tools and features to make property management a breeze for all stakeholders.

Key features include:

  • Accounting
  • Property maintenance
  • Purchasing
  • Budgeting
  • Vendor verification
  • Reporting and analytics tools

Its robust financial and accounting suite simplifies rental payments and automatic bank reconciliations. It also assists with payment approvals, central disbursements and the creation and modification of reports.

RealPage’s document management tool makes it easy to store, publish, search and secure electronic records, such as financial statements, resident documents and compliance files. The vendor provides a support team to help users comply with federal, state and local housing laws.

A 30-day trial is available, but clients have to contact the vendor for pricing.

PriceFree Trial / DemoFeatures
Custom quoteFree trial>Marketing and accounting tools
>Tenant screening and lease tracking
>Owner and tenant portals
>More features at RealPage

Pros & Cons of RealPage Property Management Software
RealPage is an easy-to-use software that allows seamless transitions between functions, such as leases, work orders, rental status and tenant information. It also has reliable document management and reporting features that can be customized to fit the user’s needs. The tool is generally user-friendly for locating and pulling needed reports.

ProsCons
>Easy-to-use platform
>Seamless transition between functions
>Synchronized and secure data management
>Pricing isn’t listed online

What Customers Are Saying
Most customers like the software because it’s easy to use, and pulling resident and property information from the system is a breeze. One notes, “I like that it has been upgraded to be more user friendly. Information is easier to access than before and the homepage can be customized. Resident information is easy to locate. All property information can be found within a single program rather than across multiple programs.”

Rent Manager

Rent-Manager
Rent Manager is a property management software for residential and commercial real estate companies that has been around for over 30 years. Because of the team’s extensive experience in the industry, the software is versatile and feature-packed, making it a suitable option for Realtors.

The software has all the tools necessary to help property managers track their rental information and extract useful reports from their data. Key features include:

  • Voice recording and broadcasting
  • Scheduling
  • Virtual post office
  • Document management
  • Vacancy tracking and mobile inspections.

The software’s accounting tools can help users calculate and manage their recurring property expenses.

Rent Manager offers an open API to help users link the system to other essential property management tools. Mobile access is also possible on the go. Rent Manager comes in online and stand-alone versions, with the online version providing extra benefits, such as immediate automatic updates and remote access.

Customers can contact the vendor for pricing.

PriceFree Trial / DemoFeatures
Custom quoteFree demo>Third-party integrations
>Residential and commercial property management
>Owner and tenant portals
>More features at Rent Manager

Pros & Cons of Rent Manager Property Management Software
Rent Manager has seen significant updates over its lifetime and therefore offers more detailed features than most competitors. Its accounting and finance tools provide great functionality, and customers say the team is keen on implementing customer-centric upgrades. The product is also easy to use, and remote access allows users to peruse whatever information they need from the platform anytime, anywhere.

ProsCons
>Many detailed property management tools
>Excellent accounting and finance tools
>Upgrades are frequent and based on customer requests for product improvement
>Pricing isn’t listed online

What Customers Are Saying
Customers have many positive things to say about Rent Manager. One says, “This is the easiest software to use even with multiple company names. Financial statements are so easy for our accountant to do our taxes with. LOVE IT !!!” while another remarks, “Ease of use. Versatility. New features regularly. Product support. The support Rent Manager offers is outstanding. They offer so many ways for you to train or trouble shoot with their software.”

Rentec Direct

Rentec-Direct
Rent Direct is a web-based software designed to cater to the needs of landlords and managers handling properties with up to 5,000 units. It comes with a powerful suite of tools to help with accounting, reporting, maintenance and tenant communication and supervision.

Key features of the software include:

  • Accounting tools for general revenue and expense tabulation
  • Integration with third-party solutions, such as Quickbooks, for additional accounting features
  • Automated ACH and credit card payment processing
  • Vacancy listings
  • Online rental applications and tenant screenings
  • Lease tracking
  • Automatic reminders
  • Utility billing integration
  • Tracking work orders
  • Electronic signatures

One of Rentec’s best features is its bank-grade security that helps protect client data with two-factor authentication, secure real-time data backup and third-party security verification. Users can also build a custom website via the platform to promote their properties and fill vacancies online.

A 14-day trial is available for clients who would like to check out the software before buying into its $35 per month subscription.

PriceFree Trial / DemoFeatures
$35 per monthFree trial>Tenant screening
>Lease tracking
>Third-party integrations
>More features at Rentec Direct

Pros & Cons of Rentec Direct Property Management Software
Rentec Direct’s biggest selling points are its feature-packed comprehensive solutions and bank-grade security. The software is also easy to learn and use, and almost anyone can understand its functions within minutes. Its tenant screening features are another big plus. They’re detailed enough to ensure only tenants with good credit, criminal and eviction records are selected.

ProsCons
>Bank-grade security
>User-friendly interface
>Reliable customer services and hands-on training

What Customers Are Saying
Functionality, third-party integration capabilities and supportive customer service are among the top reasons customers enjoy using Rent Direct. One user says, ”Rentec is very user-friendly. Its functionality is laid out well and it offers modern integrations such as online rent collection, pay owner by ACH, and electronic signatures for lease agreements. I also am impressed with their customer service. They are always very prompt and helpful.”

ResMan

ResMan
ResMan offers a flexible and scalable architecture designed to automate and streamline the key processes involved in property management. With this software, property owners and managers can easily share pertinent data about properties and tenants via a secure platform.

The tool is built with a single intuitive platform and possesses numerous capabilities, including:

  • Task and document management
  • Portfolio views
  • Boardroom analytics
  • Online leasing and tracking
  • Communication tools
  • Automated projections
  • Marketing content management

ResMan’s accounting features ensure accounts receivable, accounts payable and all other property transactions are comprehensively organized. Detailed reports can be generated to help managers and investors make concrete business decisions.

The software also comes with an advanced tenant screening tool that allows users to review applications and assess risks associated with potential tenants.

A free trial plan is not available, and clients have to contact the vendor for pricing packages.

PriceFree Trial / DemoFeatures
Custom quoteFree demo>Reporting and analytics
>Residential and commercial property management
>Accounting tools
>More features at ResMan

Pros & Cons of ResMan Property Management Software
ResMan is built with thoughtful navigation tools that allow users to swiftly switch between functions and access data on tenants, vendors, properties and accounts. The software lets managers assess work orders from their mobile devices and arrange fast maintenance services even when away from the property.

ProsCons
>Easy to navigate between functions
>Mobile access
>Friendly and upfront customer support
>No free trial
>Pricing isn’t listed online

What Customers Are Saying
Customers across the board think ResMan is user-friendly, and the support is quite responsive. One user notes, “ResMan offers user friendly functions that make even the most novice of users feel like a pro. I love how easy the system is to navigate. I also enjoyed the multiple integration options to additional vendors and partners to expand the multilevel use of the platform.”

TrueRent

TrueRent
TrueRent is designed to help property owners, managers, investors, tenants and prospective rental applicants. It assists property managers in tracking and analyzing crucial property metrics, and drawing up detailed reports for decision making. Tenants can use the platform to communicate with property managers, track their leases and automatically make rent payments.

The software’s salient features include:

  • Alerts and reminders
  • Tenant and owner portals
  • Investment analytics and reporting
  • Accounting and marketing tools
  • SMS texting
  • Work orders tracking

Property managers can benefit from the software’s tenant screening feature enabled by Experian Tenant Screening, which allows them to look at prospective tenants’ criminal, credit and eviction records before qualifying them.

With investment analytics, owners can stay updated on their property’s real value. They can track their net operating income and expenses, and determine if the property is delivering good ROI.

A five-day free trial is available, and pricing packages start at $25 per month, based on 10 units.

PriceFree Trial / DemoFeatures
Starts at $25 per month (Based on 10 units)Free trial>Online rent payment and billing invoicing
> Owner and tenant portals
>Tenant/lease tracking
>More features at TrueRent

Pros & Cons of TrueRent Property Management Software
In addition to the many property management features it offers, TrueRent also provides ease-of-use, and most users implement it without asking for help from the support team. The software is quite affordable, but it lacks a mobile app like most other solutions on this list.

ProsCons
>Easy to implement and use
>Great value for money
>Offers immense flexibility
>No mobile app

What Customers Are Saying
Users are generally impressed with TrueRent’s value. One comments,”Very affordable. A lot cheaper than the bigger companies like Buildium and Appfolio, and offers a lot more than the smaller companies with similar prices. Very intuitive and easy to use. The financial reports it generates are very helpful. The rent roll feature they offer is great and helps keep track of who has paid and who hasn’t. The QuickPay ACH payment program is really nice. Almost all of my tenants now use it to pay their rent.”

Yardi Breeze Property Management

Yardi-Breeze-Property-Management
Yardi Breeze Property Management is specifically built to support small to medium-sized businesses. As a cloud-based platform, users can access its functions on any device even when on the go. It makes it possible for property managers to capture photos with mobile devices for marketing purposes and enables tenants to capture and upload photos with their smartphones and attach them to maintenance requests.

Yardi Breeze’s easy to set up and use design makes the various aspects of property management seamless. Its core features include:

  • Accounting tools
  • Maintenance request attachments
  • ACH and credit card payments processing
  • Photo and video capture
  • Automated rent payment and posting
  • SMS messaging
  • Property showcasing
  • Tenant applications and screening

Owner and tenant portals are available. Owners and managers can easily access property and tenant information from the same place, reducing the chance of conflicts. The software can manage single-family homes, multifamily residences and commercial properties within the same platform.

A free trial is available, and pricing starts at $100 per month. Each property is priced at $1 per month, but $100 per month is the minimum fee for residential portfolios. Commercial and mixed portfolios pay a minimum of $200 per month.

PriceFree Trial / DemoFeatures
Starts at $100 per monthFree trial>Residential and commercial property management
>Online rent payment and maintenance requests
>Tenant applications and screening
>More features at Yardi Breeze Property Management

Pros & Cons of Yardi Breeze Property Management Software
There are many selling points for Yardi Breeze software, including its intuitive user interface that’s easy to understand and operate. also mention that the system is reliable and efficient in terms of information control and access, customer support, rent collection and accounting reporting. However, some users suggest that it could use some more customization on issues such as data exportation into excel.

ProsCons
>Simple interface that's easy to set up and use
>Adapts easily to any screen size
>Reliable information access
>Could use more customization

What Customers Are Saying
User-friendliness and reliable customer support are some of the most significant points noted by customers. One user says, “It is genuinely the most user-friendly software I’ve used. Almost everything is self-explanatory and if not, the help section will easily guide you. Plus the chat feature is a lifesaver in getting an issue resolved quickly.”

Yardi Voyager

Yardi-Voyager
Yardi Voyager is a fully integrated end-to-end property management platform offering residential and commercial solutions. It provides a single database where users can access crucial property information and workflows of their entire portfolio.

Key features include:

  • Lease management
  • Real-time analytics
  • Document management
  • Asset management
  • Compliance tools
  • Reporting and analytics
  • Third-party integration
  • Mobile solutions for maintenance and inspection

Property managers can rely on the platform to perform accounting tasks, coordinate maintenance activities and compile business insights. Voyager’s accounting system allows for easy and direct importation of general ledger transactions.

A mobile app lets users access the platform from any device when away from the office. The software supports a whole suite of integrations, including other solutions from Yardi, giving users access to a broad range of marketing, payment processing and reporting tools.

A free trial is not available, and clients have to contact the vendor for custom pricing.

PriceFree Trial / DemoFeatures
Custom quoteFree demo>Analytics and reporting tools
>Third-party integrations
>Billing and invoicing
>More features at Yardi Voyager

Pros & Cons of Yardi Voyager Property Management Software
Yardi Voyager has a robust set of features and is one of the most functional software options on the market. Another of its biggest selling points is that it integrates with many software solutions essential in the property management landscape.

ProsCons
>Integration with many different software solutions
>One of the property management software options with the most functions
>Easy to navigate
>Pricing isn’t listed online

What Customers Are Saying
Customers generally agree that Yardi Voyager offers plenty of functionality and can integrate with many software solutions. One user remarks, “Yardi has SO MUCH functionality and is fairly easy to navigate. Lots of different ways to get to where you need to go. Plenty of additional integration with other software (RealPage, Knock, BlueMoon, RentCafe) That will automatically pull information for guest cards and resident profiles. Seemingly infinite customization for different use cases so that you can tailor and tweak your Yardi experience to be exactly what you need.”

What Is Property Management Software?

Property management software helps property managers simplify and automate the tasks associated with running residential and commercial properties. Before the advent of property management software, managers had to rely on manual processes or ineffective methods such as spreadsheets and email to manage their tasks, including recording rent transactions, noting down tenant requests and tracking leases.

Property management software combines a set of functions necessary in the day-to-day management of properties, from tenant applications and screening to lease tracking, property maintenance and inspections, rent collection and accounting, document storage, data analysis, and reporting. A good software brings together all these key functions in one place, making the management of properties much easier.

Owners and managers can use property management software to provide quality services to tenants and ensure high resident retention, to improve their ROI. Investors can use the software to monitor portfolio performance and make decisions based on concrete, meaningful data. Tenants can use the tool to communicate easily and quickly with management, pay rent online and manage their leases.

There are two types of property management software: installed software and online or cloud-based software. Installed software requires you to install the program on your computer and stores data on on-site servers. Cloud-based software requires no installation. Users access the software via a web browser, and data is stored in the cloud, making it accessible from anywhere, anytime, as long as there’s an internet connection.

Benefits of Property Management Software

The benefits of property management software are many and diverse. However, the most notable merits are efficiency and effectiveness in making property management tasks seamless. Other benefits include:

  • Cost reduction. Users across the board agree that property management software streamlines tasks and reduces costs. For example, most programs allow users to market their properties, accept tenant applications and screen prospective renters within the same space. These tasks are more expensive if done individually.
  • Accounting management. Manually managing accounting tasks, such as payables and receivables can be time-consuming, especially if your portfolio is extensive. Property management software automates these tasks and lets managers simplify complex accounting reports.
  • Communication improvement. Having owner and tenant portals in a property management software makes communication between all stakeholders seamless. Tenants can easily make maintenance or other requests online, and their request is immediately visible to the property manager. Property owners can access their portal with a few clicks to view the performance of all their properties.
  • Accessibility and simplified backup. Most top property management software are cloud-based, allowing users to access their property’s data anywhere and anytime. Having your data stored in the cloud also means it’s backed up and secure.
  • Property management software makes it easy to scale your operations as the list of properties you manage grows. Manual processes are difficult to scale in any industry, as they require a lot of time to plan and coordinate. Most property management software has built-in, automated infrastructure to accommodate your company’s growth.
  • Data analysis and reporting. A good property management software can analyze the information fed into it and produce detailed reports to help owners make accurate and fact-based decisions about their properties.

Must-Have Features for Property Management Software

The specific features you’ll want in property management software largely depend on your needs and the types of properties you manage. However,there are some must-have features across the board, including:

  • Online rent collection and payments.Good software must have this feature. Online rental collection simplifies things for tenants and managers alike. With such systems, some tenants opt for their rent to be deducted directly from their bank account when due.
  • Property marketing.Most leading software has this feature to enable managers to list their properties and automatically advertise vacancies.
  • Tenant application and screening.Reliable property management software allows managers to accept tenant applications and screen prospective renters to ensure only quality tenants are selected.
  • Signing and tracking leases.Managers can use the software to track leases and know which ones have expired, which ones should be renewed and which ones should be revoked.
  • Owner and tenant portals.A good software has both owner and tenant portals. Tenants can use their portal to make maintenance requests, track work orders and make rent payments, while owners can use their portals to check occupancy rates and overall property performance.
  • Accounting tools.The software should be able to record and track all accounting tasks to make report generation easy, accurate and relevant.
  • Record and document management.Does the software allow for the storage of tenant information, financial records and compliance reports?
  • Third-party integrations. Does the software integrate with other programs and property management solutions?

The Cost of Property Management Software

The cost of property management software can range anywhere from $0 to $300 per month. Many factors come to play when deciding how much to pay for the service, including the features you need and the number of properties you manage.

Pricing varies from company to company, with some vendors offering free property management software that comes with limited features. Such software options are suitable for managers handling smaller properties, say 50 units or less. If you intend to manage more than that, it’s best to go for a paid service with robust features and detailed functions.

Some software vendors offer a free trial to allow users to sample their products before subscribing to a paid package. This is an excellent way of letting the customer decide if the software is fit for their operation. Some companies charge an annual fee, while others bill clients monthly. Others employ both payment strategies. Most vendors don’t list their prices on their website, so clients have to contact them for custom quotes.

Property management software is a worthwhile investment. Any company on this list can give you value for your investment by streamlining all your property management duties and processes.