Real Estate Property Management Software
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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.…
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Snapmeter is an online tool to help building managers control energy expenses. According to the vendor, understanding and controlling energy costs is a key painpoint Snapmeter aims to solve: On any given day, the pattern of energy use in your building is driven by weather, occupant…
Planyo is an online reservation and booking software and is provided by Xtreeme Sagl. The company was founded in 1997 in Switzerland. The software includes time management settings and integrates with CMS platforms, Facebook, and accounting systems. It also integrates with accommodation…
ServusConnect is a service coordination and collaboration software application for web and mobile that provides property owners/managers and service professionals with a utility to request, recommend and track the status of services. According to the vendor, even if users have implemented…
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HomeHubZone is inspection reporting software for home inspectors that promises to: Reduce your report delivery time.Create reports that will delight homebuyers and increase your base of referrals. Decrease your cost of ownership.The vendor says the product was designed for inspectors…
Soulrooms applies deep learning to automate and digitize rental journeys ensuring a great experience every single time renters and managers interact with each other. This saves a ton of marketing dollars and leasing efforts making it a holistic solution for rental teams. By integrating…
From attracting tenants to creating financial reports, property owners and managers can useInfor Property Management software to meet their operational, financial, and business intelligence needs. The suite of applications helps decision-makers drive productivity and improve cash…
Altus itamlink, based on technology acquired with Rethink Solutions by Altus Group in a 2022 acquisition, is a developer and vendor of web based, real estate, asset management solutions in the areas of property tax and assessment, occupancy cost, and insurance management.
Planima provides a way to plan, execute and follow-up on property maintenance. it provides an overview of properties' status, planned projects and costs. Planima is a cloud-based app and can be adapted to fit any type of property or company.
RentCheck is a property management solution from the company of the same name headquartered in New Orleans, Louisiana, that helps property managers save time on inspections with self-guided inspections that anyone can do from their smartphone.
Space Designer is an online architectural space planning application that lets users virtually inhabit a 3D world of their creation. Its intuitive tools are user-friendly for professionals, as well as novices.The application is developed by Asynth, a company founded in 2009. The…
nTireFM is a Property Management Software that enables land owners and real estate professionals to modify their solution by drag & drop facility. SunSmart's Property Management System has suite of digital software solution that automates workflow, streamlines employee interactions…
Masteos headquartered in Paris, offers a suite of technologies suppoting real estate investment management rental investments.
CMS Hospitality, a Valsoft company, offers GuestCentrix, a hospitality management platform providing a suite of applications and services for hotels, hostels, apartments, banquet halls, and related entities, with messaging, accounting functionality, and point of sale, and other features.…
Tokeet Inc. is a software company dedicated to the short-term rental industry headquartered in Canada, Kentucky. Their software helps to short-term rental management easier and efficient, while still including enterprise level features.
ManhattanONE, now from MRI Software since its divestiture by Trimble, is an Integrated Workplace Management System (IWMS). Launched in 2020, it is presented as a comprehensive solution for centralizing key real estate functions and data analyses essential for optimizing real estate…
Property Tree is a cloud-based real estate property management system, developed by PropTech Group which was acquired by MRI Software in late 2022. It is meant to cut the time and workload of repetitive admin and procedures with document templates, workflows and process automation…
BReal, headquartered in Santiago, Chile, offers a software solution for sales, lease, property management, and condominium management, all together. It is designed for estate agents, shopping malls, property managers, investors, as well as, large tenant companies.
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:
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.
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.
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.
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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:
- Yardi Voyager
- Archibus (ARCHIBUS + Serraview)
- AppFolio
- Buildium
- Dotloop
- VTS
- kvCORE
- Brokermint
- Condo Control Central
- CoStar Real Estate Manager
- Entrata
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.