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Property Management Software

This page is managed by
Taylor Short, Market Research Associate
Last updated: December 19, 2014

Top 10 Most Reviewed Property Management Systems

 
Buildium Buildium’s all-in-one property management software helps property managers streamline daily tasks in the rent, vacancy, and maintenance cycles. Over 9,500 customers use Buildium to manage nearly three-quarters-of-a-million units.
        192 Reviews
 Price
 Demo

203

Recommendations
in the last 30 days
Easy Storage Solutions Easy Storage Solutions is a web-based software solution designed specifically for the unique needs of self storage companies. Features automated payment reminders, secure back-up, and an online customer portal for easy payment.
       66 Reviews
 Price
 Demo

1

Recommendations
in the last 30 days
AppFolio Property Manager Designed and built for residential managers, AppFolio Property Manager is a user-friendly, Web-based solution that's available for one monthly fee, which includes training, support, and numerous online features.
        51 Reviews
 Price
 Demo

95

Recommendations
in the last 30 days
TOPS Software With more than 25 years in the industry, TOPS Software offers condo and HOA managers an intuitive, flexible solution that improves portfolio management. With TOPS, managers have a scalable, integrated system.
        25 Reviews
 Price
 Demo

6

Recommendations
in the last 30 days
MRI Residential Management MRI Residential Management utilizes MRI Software's extensive industry experience and powerful Alloy platform to offer the multi-family market a comprehensive solution that encompasses all facets of property management.
        19 Reviews
 Price
 Demo

5

Recommendations
in the last 30 days
 

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Total Management Web-based tracking and accounting solution ideal for residential, commercial, and student housing. We like being able to navigate multiple screens from a single browser - without using tabs.
        15 Reviews
 Price
 Demo

28

Recommendations
in the last 30 days
MRI Commercial Management With more than 40 years as an industry leader, MRI Software utilizes their breadth of knowledge to offer Commercial Management, a scalable, customizable system that optimizes real estate investments and operations.
         15 Reviews
 Price
 Demo

14

Recommendations
in the last 30 days
Propertyware Propertyware is a multi-tenant, web-based solution ideal for managers with 20 to 5,000 units. The system delivers comprehensive accounting, lease tracking and communication tools via user-friendly dashboards.
        13 Reviews
 Price
 Demo

81

Recommendations
in the last 30 days
roomMaster roomMaster is a scalable property management solution that is geared towards the hotel and hospitality industry. It delivers a full, integrated suite to help manage everything from the front desk to maintenance.
        11 Reviews
Rentec Direct Available for Windows or Mac OS, Rentec Direct is a comprehensive, Web-based system for landlords and managers. Capabilities include general ledger, online portals, electronic payment processing, and more.
        11 Reviews
 Price
 Demo

27

Recommendations
in the last 30 days
 
 


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Buyer's Guide

We wrote this guide to help you determine what kind of system will best suit your organization. Here’s what we’ll cover:

What Is Property Management Software?
Common Features of Property Management Software
What Type of Buyer Are You?
Property Management Software BuyerView | 2013
Key Features to Consider

What Is Property Management Software?

Property managers have unique needs when it comes to technology, and there are hundreds of systems on the market to meet those needs. Some are designed for companies managing multiple types of properties, while others target a specific niche in the industry (e.g., residential, commercial, university housing and homeowners’ associations).

Buildium Electronic Rent Collection Portal

Buildium is an example of a vendor providing an electronic rent collection portal

Common Features of Property Management Software

Property management systems help landlords and managers increase efficiency, improve collections and enhance the quality of service provided to the tenant. Property management software streamlines the wide range of tasks that a manager performs on a regular basis. Common applications found in these systems include:

Accounting Assists managers with their general ledger, payables and rent rolls. Some systems provide reporting features that calculate total per-unit vacancy days and profit/loss at both unit and organization-wide levels. Examples of vendors offering accounting features include IBS 10.0i and SKYLINE Software.
Tenant & lease tracking Enables landlords and rental owners to automate and track the leasing process from beginning to end. Functions include: tenant screening, move-in, rent/utility payments, maintenance, vacancy planning, move-out and make-ready. Example vendors: Buildium, Spectra and AssociationVoice Building Edition.
Budgeting & forecasting Helps managers develop accurate operating budgets and calculate future values. Uses historical lease and financial information to make budget projections for revenue and expenses, accounting for CPI increases, inflation, market rates and tenant improvements. Includes tools for assessment and analysis, tax planning and scenario planning. Example vendors: Buildium and Propertyware.
Building maintenance Tracks work orders, schedules preventative maintenance and coordinates communication with maintenance staff. Applications can automatically create schedules and alerts and generate work orders, and some systems let tenants make maintenance requests online, expediting service. Example vendors: HippoFM, Maintenance Connection and Bigfoot CMMS.

What Type of Buyer Are You?

Before evaluating solutions, you’ll want to know in what type of buyer category you belong:

  • Niche-use buyer. If your company specializes in a single property type, a system specializing in that type of property is a better option. Managers of commercial offices and retail space may want a commercial software application, while those with residential properties may benefit from a residential property system. Other examples of systems include those designed for homeowners’ associations (HOA software), affordable housing or hotel management software.
  • Integrated suite buyers. For managers with several types of properties in their portfolio, selecting a more robust system may be a better option. These provide functionality to support all types of properties in your portfolio.

Property Management Software BuyerView | 2013

We've spoken with thousands of property managers over the years about new software solutions. Based on our interactions with these buyers, our report looks to answer the following questions:

  • How are buyers currently managing properties?
  • What are the top reasons for replacing existing property management software systems?
  • What are the top applications required by property managers?
  • How have buyer sizes changed over the years?

Click here to access our full report. For more detailed information on this report and its findings, please contact Houston Neal (houston@softwareadvice.com).

Key Features to Consider

Online tenant services. Renters increasingly want to receive rent reminders via email. They also want access to Web-based property management software interfaces where they can pay rent, file maintenance requests, submit their notice to vacate or search their handbook. A system that supports renters’ needs is critical, especially if you own multiple units or properties.

Automatic vacancy postings. The Internet is the first place most people go when they’re looking for a place to live. Therefore, many systems allow you to post vacancies to sites like Craigslist, Rental.com and Apartments.com using the information already in your system. All you have to do is click a few buttons, and the listing is posted to half a dozen places, helping you fill vacancies faster with much less work.

Point2 Property Manager Listing Feature

This is an example of Point2 Property Manager's listing feature

Integrated Web and marketing tools. Many products include tools that help managers build websites that showcase and market their properties. More integrated systems may include search engine optimization (SEO) tools to help build traffic to your site—and your listings. These tools can include analytics features that allow you to identify traffic sources and dashboards that help measure the impact of your marketing efforts.



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