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Rental Property Software

This page is managed by
Taylor Short, Market Research Associate
Last updated: November 20, 2014

Top 10 Most Reviewed Rental Property Software Systems

 
Buildium Buildium is a powerful tool that simplifies the rental property management process. Offers full accounting, electronic payments, streamlined maintenance requests and complete mobile access. Ideal for small to mid-sized businesses.
        182 Reviews
 Price
 Demo

303

Recommendations
in the last 30 days
Easy Storage Solutions Easy Storage is a great choice for any self storage company looking for an intuitive, web-based management system. Its email and text message payment reminders make it easy to stay in contact with customers in a friendly format.
       66 Reviews
 Price
 Demo

1

Recommendations
in the last 30 days
Maintenance Connection A web-based tool that's easily integrated with other systems, Maintenance Connection offers multi-site asset tracking and work orders, preventive maintenance and a robust reporting package. Scalable from 10 to 10,000 users.
        65 Reviews
AppFolio Property Manager A comprehensive web-based system, AppFolio Property Manager features full accounting functionality, integrated vacancy postings, automated data migration and online rent payment. Offers free unlimited users, support and training.
        47 Reviews
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 Demo

128

Recommendations
in the last 30 days
HippoFM HippoFM is a powerful web-based system featuring intuitive tools such as energy consumption monitoring and notification of asset failures and redundancies. Also includes comprehensive reporting and an integrated resource library.
        34 Reviews
 

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MRI Residential Management A robust solution for managers, MRI Residential Management has a handful of valuable features including: role pages designated for leasing agents and managers, tenant portals, and automated lease renewals.
        19 Reviews
 Price
 Demo

10

Recommendations
in the last 30 days
Total Management Designed by property managers, Total Management’s web-based system includes complete accounting, work order tracking, tenant screening and data migration. Suited for both commercial and residential companies.
        15 Reviews
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 Demo

16

Recommendations
in the last 30 days
Propertyware Propertyware specializes in cloud systems to automate your key tasks. Tools include data-driven dashboards and summaries, as well as customizable portals for residents with online payment and maintenance tracking.
        12 Reviews
 Price
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110

Recommendations
in the last 30 days
Rentec Direct A comprehensive, web-based property management system, RenTec Direct offers full accounting, automated ACH payments, tenant screening, tenant and owner portals and customizable income and expense reports.
        11 Reviews
 Price
 Demo

37

Recommendations
in the last 30 days
WebRezPro PMS For property managers with short-term rentals in their portfolio, WebRezPro offers a Web-based solution with integrated accounting options and online booking engines. This is a flexible, mobile-optimized, global solution.
        10 Reviews
 Price
 Demo

1

Recommendations
in the last 30 days
 
 


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Buyer's Guide

Rental property management software enables users to execute a considerable number of essential daily tasks to help all operations run smoothly for a given property. These tasks include managing and tracking tenant information, handling all accounting and billing needs, posting vacancies online and processing maintenance requests.

Rental property software simplifies these tasks by automating recurring activities like monthly rent payments and tracking income and expenses to help you monitor the financial health of your business.

Common Features of Rental Property Software

Software for rental properties manages one or more of five general functions:

1. Applications and tenant information

  • Tenant portals enable online rent payment, maintenance request submissions and even community forums for events or public notices to improve communication.
  • Customizable lease forms and easy document distribution help standardize the leasing process and make sure all required documentation is completed and archived.  
  • Resident screening lets you evaluate applicants’ credit history, criminal activity, rent history and income by initiating these checks from within your software.
  • Store vital tenant information like resident contact information, late fee reminders and work order history.

2. Rent roll and payments

  • Online rent payments eliminate the hassle of paper checks and trips to the bank.
  • Utility metering calculates and bills for tenant consumption of metered utilities so you don’t have to check and record manually.
  • Automatic alerts inform landlords and tenants of delinquent rent payments.
Sample Electronic Rent Payment

3. Vacancy management

  • Automated vacancy postings allow new properties to be listed faster and more easily, reducing the time it takes to fill vacant units. 
  • Automated notifications inform you about upcoming lease expirations.
  • Vacancy planning provides proactive identification of vacancies and under-utilized locations.
  • Space tracking helps manage the configuration of available space for move-ins and move-outs.
Sample Automatic Vacancy Post

4. Maintenance record keeping

  • Maintenance request alerts ensure all maintenance issues are taken care of promptly.
  • The ability to prioritize issues, work assignments, requests and other objectives that require immediate attention helps increase efficiency.
  • Maintenance staff management allows you to easily delegate tasks.
  • Service contract storage lets you easily reference records.

5. Financial accounting and reporting.

  • General ledger, income statements, balance sheets and accounts payable and receivable help you keep tabs on revenue, expenses and the overall financial health of your portfolio.
  • Payroll management allows you to calculate withholdings for state and local income taxes.
  • Tracking budgets against actuals allows you to view current revenue and forecast future cash flow.

Market Trends to Understand

Integrated suite vs. point solutions. Integrated suite rental management software combines a range of applications such as accounting, record-keeping and maintenance tracking into one system. In contrast, rental property manager software point solutions serve one specific function (such as processing online rent payments) and are either used in conjunction with other software or in a standalone capacity.

Size and number of properties. Certain rental tracking software systems are better suited for a large number of units or properties with mixed portfolios, whereas others are best for single properties with only a small number of units.

Web-based vs. on-premise deployment. Web-based (or “cloud”) rental property management systems store the application and all associated data online and are accessible from anywhere with Internet access. On-premise systems require software to be installed on a computer or server in your facility.

Mobile-optimized. Some rental property manager systems are accessible via tablet or smartphone, making it easy to view, enter and track data on-the-go.



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