Real Estate Property Management Software

Real Estate Property Management Software Overview

Real Estate Property Management Software is designed to help property owners and real estate professionals manage and maintain residential, commercial and investment rental properties. These activities include:

  • managing and tracking leases

  • filling vacancies

  • providing a resident portal

  • managing maintenance tasks

  • logging repairs

  • collecting rent

  • managing physical assets

  • overseeing other property finances


Implementation of software-as-a-service (SaaS) property management software can help manage and track all of these tasks from a cloud-based platform, which can be easily accessed from anywhere with an internet connection. This is especially beneficial for professional property managers who need to manage multiple property locations and assets from a single platform. However, there are also on-premise versions of some property management software available as well.


Some vendors offer specific capabilities to manage multi-family, student living, senior living, in addition to commercial and residential properties. Others may offer third-party integrations that integrate renters insurance or inspection information into the software.


Top Rated Real Estate Property Management Products

TrustRadius Top Rated for 2022

These products won a Top Rated award for having excellent customer satisfaction ratings. The list is based purely on reviews; there is no paid placement, and analyst opinions do not influence the rankings. Read more about the Top Rated criteria.

Real Estate Property Management Products

(1-25 of 109) Sorted by Most Reviews

The list of products below is based purely on reviews (sorted from most to least). There is no paid placement and analyst opinions do not influence their rankings. Here is our Promise to Buyers to ensure information on our site is reliable, useful, and worthy of your trust.

monday.com

monday.com Work OS is an open platform designed so that anyone can create the tools they need to run all aspects of their work. It includes ready-made templates or the ability to customize any work solution ranging from sales pipelines to marketing campaigns, CRMs, and project tracking.…

Key Features

  • Task Management (1243)
    92%
    9.2
  • Team Collaboration (1224)
    90%
    9.0
  • Resource Management (1076)
    83%
    8.3
Lucernex Lease Administration & Accounting

Accruent acquired Lucernex in 2017 to boost its IWMS or asset management portfolio. Lucernex Lease Administration & Accounting is a real estate lifecycle management platform emphasizing compliant financial contracts and accountancy.

Yardi Voyager

Yardi Voyager provides residential and commercial property management software. Capabilities include integrated accounting, lease renewal workflow, and modules for multi-family, senior, and affordable housing, as well as retail, office and industrial units. The company was founded…

Sage 300 Construction and Real Estate

Sage 300 Construction and Real Estate is an end-to-end construction and property management product.

AppFolio Property Manager

AppFolio Property Manager is a cloud-based property management software that allows multifamily and single-family, commercial, student housing, homeowners and condo association, and mixed portfolio property managers to market, manage and grow their business. AppFolio includes complete…

Condo Control

Condo Control is a property management software designed for property manager and board members. The vendor states that when property managers & residents are more in sync, everybody wins. Their property management software is designed to connect property managers with what they…

Buildium

Buildium is a cloud-based property management solution that enables managers of residential and association properties to take complete control of every aspect of their business, including the rent, vacancy and maintenance cycles. According to the vendor, Buildium streamlines management…

Dotloop

Dotloop is presented by the vendor as an all-in-one real estate transaction management solution that gives brokers and teams full visibility into their business and empowers agents to close deals. It is now a property of Zillow (acquired 2015).

Brokermint

Brokermint is a real estate back office platform focused on ease of use.The product can be integrated withyour MLS and CRM to streamline all listings, transactions, and contacts for your business in one system.Brokermint provides agents, office administrators, and brokers true visibility…

VTS

VTS is an asset management and leasing platform built to provide real-time portfolio analytics to landlords and brokerage firms. VTS allows brokers and landlords to manage deal activity, a desktop or mobile device.

Visual Lease

Visual Lease is a Lease Management Software that provides robust lease accounting functionality with a depth of lease administration functionality to properly manage a company's lease portfolio.

Entrata

The Entrata Platform, from the company of the same name headquartered in Lehi, is a property management platform designed for leasing management of multifamily properties and tenants. The Entrata platform features a general ledger and accounting management, invoice management, as…

FotoNotes

FotoNotes is a mobile and cloud solution that transforms how businesses capture and communicate information from the field. FotoNotes lets companies that rely heavily on remote workers replace inefficient processes with a single, easy-to-use mobile solution that improves workforce…

OneSite Leasing and Rents

RealPage, headquartered in Richardson, offers OneSite Leasing and Rents, the company's end-to-end property management solution which is fully customizable with a suite of modules available supporting accounting and budgeting, facilities management, document management, employee…

Archibus by iOFFICE + SpaceIQ

Archibus is an IWMS solution based on the IWMS capabilities of the former ARCHIBUS product line and the workspace planning and optimization solutions of the former Serraview, which merged with ARCHIBUS in December 2018.

SkySlope

SkySlope, from the company of the same name in Sacramento, is a real estate software application designed to streamlines the transaction process, enabling brokers to focus on growing their business.

MRI Residential Management

MRI Software offers residential management for the multifamily real estate marketing. Capabilities include leasing workflow, prospect management, resident management, billing, facility maintenance, and performance management. The company was founded in 1971 and offers several residential…

CoStar Real Estate Manager

CoStar offers a platform for real estate management needs.

Avail

Avail is a rental property management system for DIY landlords from the company of the same name in Chicago.

TORCHx (discontinued)

TORCHx was a marketing system and website solution for real estate businesses from Web.com, that has been discontinued and is no longer available.

storEDGE Management Suite

The storEDGE Management Suite is a streamlined facility management software.This management suite is designed to address the pain points of the self storage industry. Some key features include: a user-friendly interface, built-in CRM capabilities, smart reporting and analytics, freedom…

AMTdirect

AMTdirect provides anytime access to an organization's full inventory of property, location and lease information, contracts, associated expenses and revenues, and all related documents. The solution includes integrated real estate accounting and financial compliance, along with…

RealPage Investment Management

The RealPage Investment Management supplies tools manage a portfolio of real estate assets, including financing and investment accounting, rich reporting features, and sharing for investors and partners.

Property Matrix

Property Matrix is the software that gives property managers and landlords the tools they need to run their business in the cloud. It includes mobile apps, portals, banking integration, online payments, and marketing services. Tenants can sign their leases online and pay their rent…

Learn More About Real Estate Property Management Software

What is Real Estate Property Management Software?

Real Estate Property Management Software is designed to help property owners and real estate professionals manage and maintain residential, commercial and investment rental properties. These activities include:

  • managing and tracking leases

  • filling vacancies

  • providing a resident portal

  • managing maintenance tasks

  • logging repairs

  • collecting rent

  • managing physical assets

  • overseeing other property finances


Implementation of software-as-a-service (SaaS) property management software can help manage and track all of these tasks from a cloud-based platform, which can be easily accessed from anywhere with an internet connection. This is especially beneficial for professional property managers who need to manage multiple property locations and assets from a single platform. However, there are also on-premise versions of some property management software available as well.


Some vendors offer specific capabilities to manage multi-family, student living, senior living, in addition to commercial and residential properties. Others may offer third-party integrations that integrate renters insurance or inspection information into the software.


Real Estate Property Management Software Features


Most property management software will provide the following features and capabilities:


  • Online application portal

  • Tenant screening

  • Lease agreements

  • Vacancy postings

  • Rent collection and delinquency tracking

  • Maintenance requests and cycle management

  • Communication tools with tenant or owner

  • Owner/administrator and tenant portal

  • Document storage for leases, insurance, eviction notices, and more

  • Reporting dashboard

  • Insurance management

  • Accounting tools

  • Marketing capabilities

Real Estate Property Management Software Comparison

Before choosing a real estate property management platform to invest in, consider these three key factors:


  1. Price: are you looking for a platform that charges a lower price per unit but may not have advanced features, or a more high-end platform? Per unit prices can range from $1/unit to $5/unit. Other platforms may charge a monthly or annual fee instead of using a per-unit cost structure. Depending on the product, there may be additional costs to consider as well. For example, along with the subscription cost or one time fee you may need to pay upgrade fees, bank account set up fees, document eSignature fees, etc. Establishing a budget is an important first step to take, especially if you own or manage a large property with multiple hundreds of units.

  2. Deployment type: are you looking for a completely cloud-based platform, or an on-premise deployment that provides complete control and access over user data and information? Two main benefits of using cloud-based software are the ease of set up, lower cost subscription pricing, not needing to maintain the software system yourself, and the ability to log in from anywhere with an internet connection. On the other hand, on-premise deployments mean users can store data locally and may have more freedom in terms of customizing the platform to their business needs.

  3. Available integrations: do the real estate property management products you're considering integrate well with the other business tools you’re already using? For example, if you’re using a separate accounting, content management system (CMS), customer relationship management (CRM), or payment gateways—make sure your property management solution will integrate with these systems.

Pricing Information


Specific pricing models vary by company. Some charge per rental unit managed per month. For platforms that have this pricing structure, the cost per unit can range from $1/unit to $4/unit. Other vendors charge based on the number of modules needed (online payments, electronic leases, tenant screening, etc.). You can expect to pay $10 to $35 per month for the most basic solution. More comprehensive solutions will cost between $60 and $2,000+ per month, depending on the number of units managed.



Related Categories

Frequently Asked Questions

What does property management software do?

This type of software helps property administrators and owners, as well as real estate professionals manage commercial and residential properties. For example, many apartment complex owners and managers use property management platforms to help manage individual units and tenants.

Real estate property management platforms help users with various management activities and tasks, which include tracking leases, filing vacancies, providing tenants with a resident portal, tracking and assigning maintenance requests, and storing important documents (e.g. lease contracts, eviction notices, etc.).

What are the benefits of using real estate property management software?

Some of the biggest benefits of using real estate property management software are organization, streamlined communication, and document storage.

For example, property management systems can help administrators and managers be alerted of new maintenance requests right away (for cloud-based platforms) and track their progress. Rather than keeping critical documents in physical storage, like filing cabinets, most property management products allow users to store files within the platform.

What is the best property management software?

According to feedback from end users on TrustRadius, these are the highest rated and most researched real estate property management software products:

Read more about this type of software and the other products available on TrustRadius’ Real Estate Property Management software page.

How much does real estate property management software cost?

Most property management software charges per unit per month. Prices can range from $1 per unit up to a few dollars per unit, depending on the number and depth of platform features required. For more basic systems, users should expect to pay between $10-$30 per month, though this can vary depending on the number of units within the property.

More comprehensive platforms can be more expensive, costing anywhere from $100 per month to multiple hundreds of dollars per month.