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Yardi Breeze is a cloud-based property management software designed for businesses of all sizes. The platform can be used for various property types including residential, commercial, affordable housing, self-storage, associations and manufactured housing....Read more about Yardi Breeze
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Fire up your growth machine—and save up to 30% on Buildium. That's an ENTIRE year of the #1 most recommended property management software for less. Buildium is a cloud-based property management software solution designed to streamline the unique tasks of ...Read more about Buildium
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DoorLoop is a cloud-based property management software designed to help property managers and owners streamline their business operations for properties of all sizes. The solution offers a host of features, such as accounting, leasing, rent collection, ten...Read more about DoorLoop
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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, bank reconciliation, ...Read more about SimplifyEm
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Rent Manager is a cloud-based property management software designed to help manage residential, commercial, association, manufactured housing, self-storage, and short-term-stay portfolios of any size. The program’s fully customizable features include a dou...Read more about Rent Manager
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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 commitments, and includ...Read more about Rentec Direct
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AppFolio Property Manager is a comprehensive property management software designed to streamline operations for property management businesses. This software offers a wide range of tools and functionalities aimed at enhancing the efficiency and effectivene...Read more about AppFolio Property Manager
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Property Matrix is a cloud-based property management solution for apartment complexes and multi-family unit properties. It offers applications for tenant and lease tracking, property accounting, building maintenance, CRM and online classifieds. The solutio...Read more about Property Matrix
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RentRedi is a property management software designed to help landlords and property investors automatically collect rent payments, screen and verify applicants, list properties, capture eSignatures, and track repairs. Tenants can set up automatic payments, ...Read more about RentRedi
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Innago is a cloud-based property management software created to simplify and streamline the task of managing rental properties. The platform is designed to cater to the needs of landlords and property managers, providing an intuitive and user-friendly inte...Read more about Innago
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MRI Residential Management suits managers looking to reduce costs while also increasing property occupancy. MRI Software has developed a comprehensive system that offers end-to-end functionality, managing everything from leasing to renewals, scheduling and...Read more about MRI Residential Management
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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 to organize and store...Read more about RealPage
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ResMan simplifies multifamily and affordable property management. Automate finances seamlessly with advanced AR and transparent audit trails. Engage prospects efficiently through centralized leads and real-time SMS communication. Boost visibility with dy...Read more about ResMan
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Payquad Solutions is a cloud-based property management software designed to automate tasks and streamline processes that pertain to running residential and commercial properties, condominiums, and student housing. The platform eliminates the common pain po...Read more about Payquad
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Building Stack is a cloud-based property management solution designed for Canadian businesses of all sizes. Key features include lease management, employee management, building maintenance, automated listing postings, tenant communication and reporting, ex...Read more about Building Stack
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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 multiple scr...Read more about Total Management
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ManageCasa is an intuitive, interactive, and automated Property Management platform specifically designed for Property Managers, Associations and Landlords seeking an all-encompassing web and mobile approach to increase efficiency and grow their business. ...Read more about ManageCasa
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Landlord Studio is property management software done right. A cloud-based mobile-first property management tool that aims to help DIY and small to mid-sized businesses manage their accounting and communication to the tenant. Landlord Studio aims to put you...Read more about Landlord Studio
Hemlane is a cloud-based property management solution that caters to small businesses. The key features of the solution include property marketing, applicant screening, lease tracking, rent collection and maintenance coordination. Hemlane enables user...Read more about Hemlane
Property Vista is a property management software solution that transforms how property managers build tenant relationships to increase business value through technology. Property Vista integrates all of the necessary tools for property managers to eff...Read more about Property Vista
Condo Control is a property management solution that provides an online communication and management platform for condos. The platform centralizes administrative tasks and communication tools, making it easier for property managers and board members to man...Read more about Condo Control
Entrata is a property management software for multifamily communities worldwide. It offers solutions for every step of the leasing lifecycle and empowers owners, property managers, and renters to create stronger communities. With a focus on driving operati...Read more about Entrata
Rentler is a property management solution designed to help landlords streamline the entire rental lifecycle, from property listing, tenant screenings and payments to maintenance and accounting operations. Managers can set up payment requirements for deposi...Read more about Rentler
Zillow Rental Manager is a cloud-based property management solution that helps real estate businesses handle property listings, tenant screening and rent collection on a centralized interface. The platform allows property managers to leverage the integrate...Read more about Zillow Rental Manager
Mi Property Portal is a cloud-based property management solution designed for residential property owners. Features include tenant screening, online rent collection, accounting, reporting, maintenance tracking and more. Mi Property Portal helps proper...Read more about Mi Property Portal
This detailed guide will help you find and buy the right apartment management software for you and your business.
Last Updated on January 27, 2025Here's what we'll cover:
What is apartment management software?
Common features of apartment management software
What are some benefits of apartment management software?
Apartment management software are tools that make routine tasks such as tracking and storing tenant information, collecting rent, and managing accounting needs easier for property managers. Common features in apartment management software include online rental payment and account access for tenants, expense and maintenance tracking, lease management, resident screening, and financial reporting.
Property managers should consider the following features when selecting multifamily or apartment property management software:
Tenant portal | Enables renters to pay their rent, submit maintenance requests and review their leasing history online. This feature simplifies payment processing and saves time. |
Automatic vacancy postings | Allow managers and owners to quickly and easily post available units to their website or on popular apartment listing sites like Craigslist, Apartments.com, Rentals.com or Google. This saves work and helps units get filled faster. |
Integrated accounting | Helps you better manage every aspect of your company’s finances with integrated general ledger, accounts payable and receivable, expense tracking, balance sheets, income statements and payroll management functionality. |
Apartment management software solutions provide various benefits that help apartment owners and property managers efficiently manage their assets. Landlords and property managers can manage many apartments using this software. It also helps landlords who own more than one apartment as it can sometimes be difficult to track maintenance manually.
Some key benefits offered by apartment management software include:
Compatibility and convenience. An apartment management software can consolidate all your individual financial information for the apartment rental businesses. The solution helps owners and landlords avoid manually handling multiple sets of information, such as tax deductions, expenses and income, for each apartment. Hence, instead of employing various incompatible software programs, a single apartment management system can be the best option. The solution also enables users to share the information with other platforms, such as apps for tablets and smartphones, via the web.
Tracking of information. Apartment owners need to track different kinds of information, such as monthly rent payments, prospects’ call-in timings for showings and tenants’ move in and move out dates. The ideal apartment management solution helps property managers store all the information and makes it readily available to apartment owners, thus avoiding disordered paper clutter. It also stores information such as overdue payments, security deposits, lease terms and routine costs, such as licenses, insurance, inspection fees, maintenance, repairs and utility payments.
Financial management and budgeting. Owners of multiple apartments often face issues with accounting. An apartment management solution integrates all the finances into a single budget that covers the details of all the apartments. The solution generates easy-to-understand visuals that allow users to track incoming and outgoing finances for each apartment. It also suggests remedial action points in case the user is losing money on specific assets.
Tax management. An apartment management solution also helps apartment owners manage their business, property and personal taxes. In a multi-apartment setup, the solution manages deductions, such as labor costs, insurance premiums and maintenance costs. It also covers home office deductions in case the apartment owner is using a home office to manage the asset. The solution enables users to export all this data to create tax forms.
Marketing and lead generation. The right kind of apartment management solutions help apartment owners and property managers market their assets and generate leads by interacting with prospects. If the apartments are listed on any business or personal websites, the solution helps post updated vacancies on the portals and accepts inquiries from prospects. It may also enable the use of web templates and assist in creating marketing material, such as brochures, ads, letterheads, fliers and business cards.
We’ve compiled several case studies to illustrate how the features of apartment rental software solutions can help advance your business by making it easier than ever to manage apartment properties.
Automatic rent payments eliminate annual fees and free up man-hours. Using a tenant portal like the one found in the AppFolio Property Manager apartment software system, tenants can make payments online, in seconds. This frees property managers from entering receipts by hand, increasing efficiency and resulting in cost savings.
Take Real Estate Management Group, for example. With a mixed portfolio of 1,000 properties, the company must process a significant number of rent payments per month. Prior to using AppFolio Property Manager, they paid $2,800/year to manage rent payments via a separate online system.
With the integrated online rent payment module in AppFolio’s apartment manager software, there are no additional monthly costs. Payments are automatically entered, freeing up countless hours of labor. Real Estate Management Group tenants can get set up with online payments in just seconds, which has increased the percentage of those using them to 60 percent—a figure expected to jump to 85 percent by the end of the year. In sum, this has resulted in annual savings of $20,800/year (and growing).
| Before AppFolio | After AppFolio | Annual Savings |
Online rent payments w/PayLease service | $2,800/year | $0 | $2,800/year |
Staff accounting time to support PayLease online rent payments | $18,000/year | $0 | $18,000/year |
Total savings: $20,800/year (and growing). (__Source: http://www.appfolio.com/case-studies/real-estate-management-group)
Integrated accounting helps cut thousands of dollars in unnecessary expenses. An integrated accounting module such as that found in Rent Manager’s apartment software enables property managers to easily enter, track and analyze financial data. Detailed reports can pinpoint where adjustments need to be made in order to cut costs—a vital tool given today’s sluggish economy.
An example of an Owner’s Statement within Rent Manager’s complete accounting system. (Source: http://www.rentmanager.com/)
After the real estate slump of 2008, Ballard Property Maintenance found it nearly impossible to meet the strict new banking requirements while using their previous accounting system. Looking to cut tens of thousands of dollars in expenses, they needed an integrated accounting application that could provide detailed analysis and comprehensive reports, including project costing and budgeting. The accounting system in Rent Manager’s multifamily property management software enabled Ballard to quickly trim expenses and provide banks with the detailed financial information required.