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What is apartment management systems?

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.
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What 3 key Apartment Management Systems features should I look for?

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.

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Showing 1 - 20 of 103 products
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Showing 1 - 20 of 103 products

DoorLoop

MEMORIAL DAY SALE: Get 50% off your first two months if you join by Friday June 3! Get a fully customizable rental property management software that helps manage your properties from one place. Unlimited free training, support, a...Read more

No reviews yet

137 recommendations

Buildium

Buildium is a cloud-based property management software that enables managers of residential and association properties to take control of every aspect of their business, whether in the office or fully remote, including online rent...Read more

4.50 (1821 reviews)

125 recommendations

Yardi Breeze

Yardi Breeze is refreshingly simple property management software designed with one goal in mind: to provide our users with a single platform that’s easy to use and takes advantage of the latest advances in cloud-based technology. ...Read more

4.03 (75 reviews)

86 recommendations

SimplifyEm

SimplifyEm is a user-friendly property management solution that offers everything needed to manage a property's accounting, tenant and lease tracking and building maintenance. It's web-based and ready to go right out of the box. ...Read more

4.09 (121 reviews)

61 recommendations

AppFolio Property Manager

Run your entire portfolio on one modern platform. AppFolio’s intuitive and user-friendly experience gives your property management team the tools they need to provide excellent service to residents and owners. Whether you manage m...Read more

4.56 (1748 reviews)

47 recommendations

PriceDemo

Rent Manager

Rent Manager is award-winning property management software built for residential, commercial, and short-term-stay portfolios of any size. The program’s fully customizable features include a double-entry accounting system, maintena...Read more

4.38 (211 reviews)

47 recommendations

RentRedi

RentRedi is landlord-tenant software for landlords to easily manage their properties. RentRedi provides an all-in-one platform that enables landlords to collect mobile rent payments, send in-app notifications, prescreen tenan...Read more

4.68 (19 reviews)

29 recommendations

PriceDemo

PropertyZar

PropertyZar is a cloud-based property management solution for small to large landlords and property managers. It offers features such as tenant screening, online applications, e-payments, posting vacancies and work order managemen...Read more

4.00 (8 reviews)

25 recommendations

PriceDemo

ManageCasa

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...Read more

5.00 (2 reviews)

24 recommendations

PriceDemo

Hemlane

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....Read more

4.82 (123 reviews)

18 recommendations

Software pricing tips

Read our Apartment Management Software Buyers Guide

Subscription models

  • Per employee/per month: This model allows you to pay a monthly fee for each of your employees.
  • Per user/per month: Users pay a monthly fee for users—normally administrative users—rather than all employees.

Perpetual license

  • This involves paying an upfront sum for the license to own the software and use it indefinitely.
  • This is the more traditional model and is most common with on-premise applications and with larger businesses.

Rated best value for money

Condo Control

Condo Control Central is a property management solution that provides an online communication and management platform for condos. It offers an online discussion forum, amenity booking, concierge management and more. An online...Read more

4.60 (88 reviews)

16 recommendations

PriceDemo

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 te...Read more

4.63 (179 reviews)

12 recommendations

PriceDemo

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 u...Read more

4.11 (101 reviews)

9 recommendations

PriceDemo

ResMan

ResMan is the industry-leading property management platform preferred by owners, operators and investors across the multifamily, affordable and commercial real estate marketplace. Our platform is built for the evolving needs of yo...Read more

4.50 (359 reviews)

4 recommendations

Building Stack

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 commu...Read more

4.47 (17 reviews)

4 recommendations

PriceDemo

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 ...Read more

4.23 (89 reviews)

3 recommendations

Innago

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 collec...Read more

4.89 (182 reviews)

2 recommendations

PriceDemo

Property Matrix

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 onlin...Read more

4.61 (31 reviews)

2 recommendations

MRI Residential Management

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 t...Read more

4.08 (26 reviews)

2 recommendations

Property Vista

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 fo...Read more

4.76 (49 reviews)

1 recommendations

PriceDemo

Buyers Guide

Last Updated: May 26, 2022

Here's what we'll cover:

What Is Apartment Management Software?
Common Features of Apartment Management Software
Expected Benefits of Apartment Management Software
Case Studies

What Is 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.

Common Features of Apartment Management Software

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.

Expected Benefits of Apartment Management Software

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.

Case Studies

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.

Example of Owner’s Statement within Rent Manager

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.