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Finding software can be overwhelming. Software Advice has helped thousands of property managers choose the right property management software so they can track tenants and payments.

Property Management Software

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Buildium

Buildium’s all-in-one property management software helps property managers streamline daily tasks in the rent, vacancy, and maintenance cycles. Over 13,000 customers use Buildium to manage over one million units.
Price: 
Price Range is based on our extensive pricing research and represents a comparison of cost between the 96 systems on our list. The best way to get a real cost is to request a quote.
Recent recommendations:  290
Our advisors have recommended this product 290 times in the last 30 days. These recommendations are based on buyers' needs. Contact us for a free consultation.
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SimplifyEm Property Management Software

SimplifyEm is a property management software designed to meet the requirements of small and mid-sized landlords and property managers. The web-based solution offers features like property accounting, tenant management, lease tracking,... Read More
Rating:  89 reviews
Price: 
Price Range is based on our extensive pricing research and represents a comparison of cost between the 96 systems on our list. The best way to get a real cost is to request a quote.
Recent recommendations:  199
Our advisors have recommended this product 199 times in the last 30 days. These recommendations are based on buyers' needs. Contact us for a free consultation.
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CICTotal Manager

CICTotal Manager is a property management solution that offers management tools for rental properties including multi-family housing, commercial buildings, affordable housing and portfolios with a mixture of clients. This cloud-based... Read More
Rating:  9 reviews
Price: 
Price Range is based on our extensive pricing research and represents a comparison of cost between the 96 systems on our list. The best way to get a real cost is to request a quote.
Recent recommendations:  135
Our advisors have recommended this product 135 times in the last 30 days. These recommendations are based on buyers' needs. Contact us for a free consultation.
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AppFolio Property Manager

AppFolio provides property management software that allows apartment, residential, commercial, student housing and community association property managers to market, automate and manage their business. The mobile, all-in-one solution... Read More
Price: 
Price Range is based on our extensive pricing research and represents a comparison of cost between the 96 systems on our list. The best way to get a real cost is to request a quote.
Recent recommendations:  111
Our advisors have recommended this product 111 times in the last 30 days. These recommendations are based on buyers' needs. Contact us for a free consultation.
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Rentec Direct

Rentec Direct serves as a web-based, full-featured management system for landlords and property managers that is designed to suit the needs of those managing properties between 25 and 5,000 units. Rentec has no startup fees, no term... Read More
Price: 
Price Range is based on our extensive pricing research and represents a comparison of cost between the 96 systems on our list. The best way to get a real cost is to request a quote.
Recent recommendations:  88
Our advisors have recommended this product 88 times in the last 30 days. These recommendations are based on buyers' needs. Contact us for a free consultation.
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Yardi Breeze Property Management

Yardi Breeze is property management software built exclusively for small to mid-size businesses. Yardi Breeze offers features such as autocomplete address lookups, data import utility, home screen dashboard, drill-down reporting and... Read More
Rating:  2 reviews
Price: 
Price Range is based on our extensive pricing research and represents a comparison of cost between the 96 systems on our list. The best way to get a real cost is to request a quote.
Recent recommendations:  42
Our advisors have recommended this product 42 times in the last 30 days. These recommendations are based on buyers' needs. Contact us for a free consultation.
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Propertyware

Propertyware is a cloud-based, end-to-end property management software that helps property managers and operators scale their businesses with several different property types, including mixed portfolios. Propertyware’s platform... Read More
Price: 
Price Range is based on our extensive pricing research and represents a comparison of cost between the 96 systems on our list. The best way to get a real cost is to request a quote.
Recent recommendations:  35
Our advisors have recommended this product 35 times in the last 30 days. These recommendations are based on buyers' needs. Contact us for a free consultation.
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Rent Manager

Rent Manager is a software system for both residential and commercial real estate companies. The financial accounting component of Rent Manager has full integration and includes standard functionality such as a general ledger with... Read More
Price: 
Price Range is based on our extensive pricing research and represents a comparison of cost between the 96 systems on our list. The best way to get a real cost is to request a quote.
Recent recommendations:  31
Our advisors have recommended this product 31 times in the last 30 days. These recommendations are based on buyers' needs. Contact us for a free consultation.
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PropertyZar

PropertyZar is a cloud-based property management solution for small and midsize property owners and real estate managers. It offers features such as tenant screening, rent accounting, posting vacancies and scheduling maintenance. PropertyZar... Read More
Rating:  1 reviews
Price: 
Price Range is based on our extensive pricing research and represents a comparison of cost between the 96 systems on our list. The best way to get a real cost is to request a quote.
Recent recommendations:  25
Our advisors have recommended this product 25 times in the last 30 days. These recommendations are based on buyers' needs. Contact us for a free consultation.
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MRI Commercial Management

MRI Commercial Management is built for commercial property managers. It offers real-time, actionable data which can be used to manage assets, all from the secure Alloy platform. Commercial Management (CM) clients include managers of... Read More
Rating:  22 reviews
Price: 
Price Range is based on our extensive pricing research and represents a comparison of cost between the 96 systems on our list. The best way to get a real cost is to request a quote.
Recent recommendations:  18
Our advisors have recommended this product 18 times in the last 30 days. These recommendations are based on buyers' needs. Contact us for a free consultation.
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RealPage Commercial

RealPage Commercial is a cloud-based property management solution suitable for commercial and industrial businesses. Key features include accounting, budgeting, facilities maintenance, purchasing, document management and reporting. RealPage... Read More
Rating:  7 reviews
Price: 
Price Range is based on our extensive pricing research and represents a comparison of cost between the 96 systems on our list. The best way to get a real cost is to request a quote.
Recent recommendations:  17
Our advisors have recommended this product 17 times in the last 30 days. These recommendations are based on buyers' needs. Contact us for a free consultation.
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Budgetrac Property Management

Budgetrac is a cloud-based, comprehensive property management and accounting solution suitable for commercial properties such as industrial, office and retail. Budgetrac shares real-time information across organizations through role-based... Read More
Rating:  15 reviews
Price: 
Price Range is based on our extensive pricing research and represents a comparison of cost between the 96 systems on our list. The best way to get a real cost is to request a quote.
Recent recommendations:  16
Our advisors have recommended this product 16 times in the last 30 days. These recommendations are based on buyers' needs. Contact us for a free consultation.
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RealPage

RealPage is a cloud-based property management solution suitable for businesses of any size. Key features include accounting, budgeting, facilities maintenance, purchasing, document management and reporting. RealPage enables users... Read More
Rating:  7 reviews
Price: 
Price Range is based on our extensive pricing research and represents a comparison of cost between the 96 systems on our list. The best way to get a real cost is to request a quote.
Recent recommendations:  15
Our advisors have recommended this product 15 times in the last 30 days. These recommendations are based on buyers' needs. Contact us for a free consultation.
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Total Management

Total Management is a cloud-based property management solution suitable for midsize to large organizations that manage apartments, mixed portfolio, REITs and commercial or retail space. Total Management helps users multitask by navigating... Read More
Rating:  89 reviews
Price: 
Price Range is based on our extensive pricing research and represents a comparison of cost between the 96 systems on our list. The best way to get a real cost is to request a quote.
Recent recommendations:  12
Our advisors have recommended this product 12 times in the last 30 days. These recommendations are based on buyers' needs. Contact us for a free consultation.
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Innago Tenant and Property Management

Innago offers a cloud-based property management platform for landlords with small to midsize property portfolios. With Innago, users can collect rent, manage leases, collect signatures and manage tenants. Landlords can collect rent... Read More
Rating:  4 reviews
Price: 
Price Range is based on our extensive pricing research and represents a comparison of cost between the 96 systems on our list. The best way to get a real cost is to request a quote.
Recent recommendations:  12
Our advisors have recommended this product 12 times in the last 30 days. These recommendations are based on buyers' needs. Contact us for a free consultation.
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Property Vista

PropertyVista is a cloud-based property management solution that helps real estate and property management firms to track functions related to their properties which include advertising rental properties, gaining new tenants, collecting... Read More
Rating:  26 reviews
Price: 
Price Range is based on our extensive pricing research and represents a comparison of cost between the 96 systems on our list. The best way to get a real cost is to request a quote.
Recent recommendations:  10
Our advisors have recommended this product 10 times in the last 30 days. These recommendations are based on buyers' needs. Contact us for a free consultation.
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Property Boulevard

Property Boulevard is a property management system designed for commercial and residential property portfolios. The system has management and accounting capabilities and provides access to multiple network users. The software offers... Read More
Rating:  16 reviews
Price: 
Price Range is based on our extensive pricing research and represents a comparison of cost between the 96 systems on our list. The best way to get a real cost is to request a quote.
Recent recommendations:  7
Our advisors have recommended this product 7 times in the last 30 days. These recommendations are based on buyers' needs. Contact us for a free consultation.
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RISSOFT

RISSOFT by Realty Information Systems is a property management solution that caters to property managers who manage residential and commercial real estate, condominiums, cooperatives, RV parks, parking facilities and more. The solution... Read More
Rating:  4 reviews
Price: 
Price Range is based on our extensive pricing research and represents a comparison of cost between the 96 systems on our list. The best way to get a real cost is to request a quote.
Recent recommendations:  7
Our advisors have recommended this product 7 times in the last 30 days. These recommendations are based on buyers' needs. Contact us for a free consultation.
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PayProp

PayProp is a cloud-based property management solution designed to help property managers to collect, match and reconcile rental payments for their properties. Key features include payment automation, audit logging, arrears management... Read More
Rating:  2 reviews
Price: 
Price Range is based on our extensive pricing research and represents a comparison of cost between the 96 systems on our list. The best way to get a real cost is to request a quote.
Recent recommendations:  7
Our advisors have recommended this product 7 times in the last 30 days. These recommendations are based on buyers' needs. Contact us for a free consultation.
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iRent

iRent is a cloud-based property management solution for small and midsize property managers. Key features include tenant management, billing and financial management, role-based system access and work order management. iRent includes... Read More
Rating:  9 reviews
Price: 
Price Range is based on our extensive pricing research and represents a comparison of cost between the 96 systems on our list. The best way to get a real cost is to request a quote.
Recent recommendations:  6
Our advisors have recommended this product 6 times in the last 30 days. These recommendations are based on buyers' needs. Contact us for a free consultation.
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Buyer's Guide

,
Market Research Associate
Last Updated: October 11, 2018

Property Management Quick Summary

Property management software helps landlords and real estate professionals track leases, residents and maintenance tasks, as well as collect rent and manage finances to reduce costs and streamline operations.

Benefits of Property Management Software

Property management software applications can lead to several key benefits, including:

  • Tenant and lease tracking. Helps managers perform two important functions: keep track of tenant details, such as rent payments or contact information, and lease dates. Lease tracking can also automate the leasing process from prospect to move-out.

  • Maintenance management. It's critical that property managers keep buildings and utilities in operating condition so tenants find value and comfort in their homes. With this application, residents can submit work orders and managers can assign work and track schedules so that important maintenance tasks are completed in a timely fashion.

  • Accounting. Assists with tracking rent payments, includes a general ledger and can generate reports to visualize the financial health of your properties.

  • Tenant portal. An online portal allows your tenants to pay rent, make maintenance requests and communicate with landlords at any time. This portal can also send alerts and notifications about upcoming rent dates or important messages from managers to residents.

Competitive Advantages of Using Property Management Software

Whether you manage a single apartment complex or dozens of commercial facilities, property management software can provide the functionality needed to handle daily tasks, letting you focus on your business in other ways:

  • Grow your business. Automation gained from software allows property managers to spend more time marketing their properties and managing applicants to find the best residents or renters. Marketing tools give you the ability to quickly post vacancies to various sites, like Craigslist or Apartments.com, with just a few clicks.

  • Offer increased convenience. With an online tenant portal, residents can pay rent any time of day, which adds convenience for them and makes collecting rent easier for you. In addition, a portal opens a line of communication among tenants and office and maintenance staff, so everyone can be quickly notified about important announcements.

  • Gain financial oversight. Reporting and analytics tools help you gather your financial, tenant or marketing data to identify trends that could be harming your business or opportunities to make improvements.

Businesses Sizes Using Property Management Software

Property managers have different requirements based on their portfolio size and type. Modern software offers functionality to help any type:

  • Single and multi-family buyers. Perhaps the most common type of property management, these buyers enjoy a wide selection of systems that help manage apartments, condos or houses, including core functionality of accounting and tenant tracking along with portals and vacancy marketing.

  • Niche-segment buyers. While most property management systems feature the same core functions, many focus on certain property segments:

    • HOA management software offers additional features to track meeting minutes, bylaws and elections necessary to operate an association.

    • Affordable housing software includes functionality to manage funding programs, track compliance and generate audit reports.

    • Vacation rental property software focuses on online booking management and marketing features to give owners a wider reach for potential renters.

  • Enterprise level buyers. Those who manage several properties across a commercial enterprise can opt for a system that shows an overview of their entire portfolio.

Additional Software Property Managers May Need

Modern property management software helps handle virtually any day-to-day task, but depending on your specific needs, you may want to integrate with other systems:

  • Marketing automation: Some property managers with large portfolios may need some extra help advertising their rentals. Marketing software can help you manage email, social media or text campaigns to reach a wide swath of potential tenants.

  • Maintenance management software: Residents deserve functional, clean properties, and managers may need more robust work order systems to tackle the volume of daily maintenance requests.

  • Property management accounting software: Helps landlords track rent payments, maintenance and inventory costs and create forecasts and budgets to gain an overview of financial health and maximize profits.

  • Rental property management software: Helps owners automate recurring tasks, such as collecting rent and generating financial reports, and handle maintenance requests remotely to manage a portfolio of properties.

  • Apartment management software: Includes core accounting and tenant and lease tracking functionality with additional online listing management tools, and a tenant portal to streamline rent collection.

Features Guide

A List of Common Property Management Features

When comparing property management software, it's important to understand the functionality included in each. The most common functions of these systems are listed in the table below:

Accounting
Manage the general ledger, accounts payable and rent payments. Most systems assist with bank reconciliation and generating financial reports.
Tenant & lease tracking
Assists with the entire leasing process, including tenant screening, move-in and move-out management and rent and utility payment collections.
Budgeting & forecasting
Develop accurate operating budgets and reports and forecast future costs and values, as well as account for consumer price index (CPI) changes, inflation and market rates.
Building maintenance
Submit and track work orders, either from employees or renters, and assign tasks to maintenance workers.
Tenant portal
Allows tenants to pay rent and fees, submit maintenance requests and opens a communication channel between residents and staff.

Feature Details and Examples

Accounting: Accounting features in property management systems work much like financial accounting in other systems: they help keep your numbers accurate and up-to-date, with a general ledger, forecasts and dashboards offering a holistic view of expenses and profits. Generate reports can be used to present to stakeholders and to identify trends or opportunities.

Accounting summary in Buildium

Tenant & lease tracking: This feature is the core of any property management system, as it helps organize and track all important information about your residents and their lease agreements. This may include: past due payments, crucial lease dates, contact information and more. Most systems also offer tenant screening tools as a part of tenant tracking.

A tenant profile in MRI Residential Management

Budgeting & forecasting: These features deliver value to property managers by centralizing all current financial information and historical lease details to produce accurate projections and forecast future costs. Reporting features can be used to generate customizable reports to easily share information with stakeholders.

Various types of reporting options in Rentec Direct

Building maintenance: Maintenance management functionality allows both residents and staff to submit, track and assign work orders for any type of request, from structural issues to pest problems, through an online portal. Many systems can automatically assign tasks to maintenance workers to ensure a quick response.

Hemlane's maintenance request dashboard

Tenant portal: As mentioned above, an online portal offers residents various ways to communicate with landlords or office staff, accessible at any time of the day. Tenants can update contact information, pay rent and other fees, submit maintenance requests, view lease documents and communicate with office staff.

A resident profile in the tenant portal from Propertyware

The Property Management Software Features You Really Need

Property management software is often flexible enough to match your specific needs and scale with your business growth. However, there are some crucial applications for certain types or stages of property management:

Small apartment complex or single-family homes
Tenant and lease tracking: For property managers with a smaller portfolio, keeping track of rent payments and lease documents can be centralized for quick retrieval of important information, such as which resident's rent is past due.
Multiple complexes, rentals or an HOA
Tenant portal: When you have several buildings or rentals to maintain, letting tenants contact you through an online portal helps you stay on top of emerging problems you may have missed otherwise.
Enterprise business buyer
Accounting and reporting: Corporate real estate professionals need more robust accounting and reporting tools to make strategic decisions to lower costs. Some may also consider facilities management software.

Pricing Guide

How Property Management Software Is Priced and Hosted

Typically, property management software pricing is based on a few key factors:

  • How many units do you manage?

  • How many applications do you need?

  • How do you want the system deployed?

Vendors most often charge per unit, per month—but be aware that many have minimum monthly costs no matter how large your portfolio. Other costs may include implementation, support fees or hardware expenses.

In addition, costs may differ for on-premise or cloud-based deployments; cloud-based software is generally a smaller investment up-front.

What Businesses Typically Budget for Property Management Software

When we look at how much companies are prepared to spend on property management software per month, the numbers vary. We see a couple concentrations of buyers:

  • A combined 48 percent expect to pay between $10 and $75 per month—the vast majority of these buyers manage apartments or single-family properties.

  • A combined 40 percent expect to pay at least $151 per month—these buyers are generally commercial, retail, self-storage and other mixed-portfolio managers.

(Note that these prices do not include any potential up-front fees, such as installation and training.)

Budget for Property Management Software

A resident profile in the tenant portal from Propertyware

Hidden Costs of Property Management Software

Property management software has a relatively simple pricing structure, but some solutions include costs that you may not have anticipated. In addition to the monthly fee per unit, consider these other common costs:

  • Add-on modules that may not be automatically included in the plan you chose

  • Implementation services or fees for the vendor to help set up the software for success

  • Training options to help your team use the system effectively

  • Access to an API to further customize the software to meet your needs

FAQs

What Are the Key Functions of Property Management Software?

As mentioned above, property management software offers several benefits:

  • Tenant and lease tracking. Manage tenant contact information, lease details and important notifications to avoid late payments or move-out dates.

  • Maintenance management. Submit, assign and track work requests, from staff or residents, and close out work orders to ensure important tasks are completed in a timely manner.

  • Accounting. Track all your financial records, from rent payments to expenses, and generate reports to get an overview of operations.

  • Tenant portal. Open a communication channel among landlords, staff and residents online, where users can make work requests, pay rent or post to a message board.

What Questions Should I Ask Vendors When Evaluating Property Management Products?

When seeking information about property management software, you should ask a few questions to make sure it's the right fit for your needs. These include:

What parts of the software do users most frequently report problems with?

While you should pay attention to what vendors are excited to share about their system, be sure to ask about common pain points for customers and which features typically take the most time to master.

What are the additional required costs for the software?

Aside from monthly subscription costs, you should get an idea about additional costs for other services or hardware—training and implementation are common up-front costs to consider.

Can you customize the system to meet my specific needs?

Most vendors are flexible enough to customize their software by adding new fields for tenant information or combining a specific set of features for you.

How Can Property Management Software Help Me With Marketing?

Marketing your vacancies and conveying quality in the photos and text you post can be a time-consuming challenge for property managers. Modern property management systems offer functionality to help with website and vacancy management, with features for branding, search engine optimization help, social media integration and full marketing campaign management.

Check out this example of how software helps you market properties and find tenants in the busy summer months.

Can Property Management Software Help Me Find High-Quality Tenants?

A major feature of most modern property management solutions is tenant screening tools, which allow you to screen for credit, eviction and criminal records much more quickly than manual methods. Screen with accuracy to avoid bad tenants so you can spend more time showing off your amenities.

What Are Some Drawbacks I Should Watch Out For?

Property management software won't immediately solve your operational challenges, but it can significantly streamline your more tedious daily tasks.

As with any software investment, it's important to have a clear goal in mind for the system—maybe you need to automate rent collections or make it simpler for residents to make maintenance requests. A clear objective will help your company determine the exact functionality needed to reach it.

Tips & Tools

Build a Business Case for Property Management Software

Sometimes it's difficult to get your management to sign off on a new investment like software. But there are a few key property management software benefits that could help you get buy-in from your team:

  • Faster lease signing. Automated vacancy postings and screening tools streamline the application process so that you find the best tenants and can have them sign leases quickly.

  • Automation facilitates communication. Software provides a tenant portal that connects residents and landlords to conveniently email each other about important information so that managers can focus on improving the business.

  • Financial tools handle tedious tasks. Property management software has industry-specific tools to calculate common area maintenance (CAM) reconciliation or automate late fees.

Relevant Articles

Here are some recent articles about property management software you should check out:

Recent Events in the Property Management Market

Here are some important recent events concerning the property management industry:

  • As homeownership rises, rental affordability improves in 2017. The 2016 Zillow Home Price Expectations Survey shows that homeownership will reverse from its historic low in 2016 and begin trending upward, as millennials prepare to buy. An anticipated effect of this trend is a damper on the growth of renters and cheaper rental rates overall.

  • AssetEye assists multi-property professionals. RealPage acquired AssetEye Inc. in 2016 to offer their solution for data aggregation, reporting and collaboration, which extends the scope of RealPage's software. This acquisition allows the company's cloud-based solution to cover other property types, such as hospitality, commercial, multi and single-family, senior living and student housing.

  • Use trending colors to make rentals pop. Adding bursts of bold colors in apartments can impact the mood and behavior of renters. So whether you follow the suggestions of Pantone with its color of 2017, Greenery, or personalize the hue to your renter demographic, consider how colors can potentially turn prospects into renters.

FrontRunners® for Residential Property Management, September 2018

FrontRunners History: 

FrontRunners Vendors Defined

Take this short survey so we can help you identify the products that best fit your needs.


What Is the FrontRunners Quadrant?


A Graphic of the Top-Rated Residential Property Management Products

FrontRunners uses real reviews from real software users to highlight the top software products for North American small businesses.

Our goal is to help small businesses to make more informed decisions about what software is right for them. That’s why we engineered FrontRunners.

To create this report, we evaluated over 125 Residential Property Management products. Only those with the top scores for Usability and User Recommended made the cut as FrontRunners.

FrontRunners-Vendor-Collateral

Scores are based on reviews from real software users.

What’s the Difference Between the “Small Vendor” and “Enterprise Vendor” Views?


The Different Graphics Show Different Sizes of Vendors

Small and Enterprise refer to the size of the software vendor company—not necessarily the size of customers they serve.

We break vendors into two groups for two reasons: It’s a more equal comparison of products, and software buyers have told us it’s helpful.

To determine who’s Small and who’s Enterprise, we look at how many employees the vendors have. All products in FrontRunners, whether Enterprise or Small, are evaluated using the same process.

Each graphic shows the top 10-15 performers for each the Enterprise and Small vendor categories. You can switch views simply by clicking on the version you’d like to see (above the graphic). You can read more in the full FrontRunners methodology here.

How Are FrontRunners Products Selected?


Products Are Scored Based on User Reviews


The gist is that products are scored in two areas—Usability and User Recommended—based on actual user ratings.

To be considered at all, products must have at least 20 reviews published within the previous 18 months, and meet minimum user rating scores. They also have to offer a core set of functionality—for example, tenant and lease tracking capabilities that support residential property management.

From there, user reviews dictate the Usability and User Recommended scores. Usability is plotted on the x-axis and User Recommended on the y-axis.

You can download the full FrontRunners for Residential Property Management report here. It contains individual scorecards for each product on the FrontRunners quadrant.

Got It. But What if I Have More Questions?


Check Out Our Additional Resources!

Have questions about how to choose the right product for you? You’re in luck! Every day, our team of advisors provides (free) customized shortlists of products to hundreds of small businesses.

  • Simply take this short questionnaire to help us match you with products that meet your specific needs. 
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For more information about FrontRunners, check out the following:

  • The “FrontRunners FAQs for Technology Providers,” linked at the top of this page, for detailed answers to commonly-asked questions. 
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  • The complete FrontRunners methodology to understand the scoring.
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  • For information on how to reference FrontRunners, check out the FrontRunners External Usage Guidelines. Except in digital media with character limitations, the following disclaimer MUST appear with any/all FrontRunners reference(s) and graphic use: 

FrontRunners constitute the subjective opinions of individual end-user reviews, ratings, and data applied against a documented methodology; they neither represent the views of, nor constitute an endorsement by, Software Advice or its affiliates.