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At the moment, property management software is widely used across all industries. Despite this, a number of research studies have found that many companies are still using outdated and inefficient systems due to not taking advantage of modern technology in the process. If properly implemented, these new technologies could revolutionize how we do business today by streamlining processes and improving company efficiency levels.
The best property management software makes managing rental properties simpler for owners and streamlines rent payments for renters. Some property management software is better suited to landlords with one to four properties, while others are better suited to rental property portfolios.
Avail; the Best Property Management Software
Avail may be used to manage a single property or an entire portfolio. Both property management businesses and landlords may benefit from its tiered pricing. This makes Avail excellent for owners who want free or low-cost pricing now but expect to expand their investment property portfolios while continuing to use the same property management software in the future.
Features
Avail gives landlords the tools they need to manage their rental properties more efficiently, including the ability to promote unoccupied apartments, screen tenants, collect rent, and sign contracts.
- Landlords may quickly add listing information and upload images using the marketing tools. Avail automatically gathers information about a place from the internet and adds it to the listing. It syndicates listings from Zillow, Trulia, and Apartments.com, among others.
- Avail conducts criminal and tenant eviction background checks, as well as a TransUnion credit check. Rental and job records are collected via online applications. W2s, pay stubs, and bank statements may all be uploaded by applicants.
- Landlords may use accounting software to collect and monitor rent payments and fees. Tenants may set up autopay so they don’t have to worry about missing a rent payment. Tenants may share images of required repairs, and landlords can monitor maintenance requests.
- Avail’s leasing capabilities include state-specific lease forms, electronic signatures, and online document storage. When rent is due, it sends notifications to renters, as well as follow-up communications if payments are late.
When Should You Use Avail?
Start with Avail’s Unlimited package if you’re a new landlord looking to create an investment property portfolio. This plan is absolutely free and includes just the most basic features. As your investment property portfolio grows, you’ll want to upgrade to the Unlimited Plus plan, which will help you handle your growing property management responsibilities more efficiently.
TurboTenant: The Best Free Property Management Software
TurboTenant is a great choice for landlords who want a free property management system with a paid a la carte menu of extra services that can be added as required. It’s a great option for property owners with a single unit or hundreds.
Pricing
Landlords may use TurboTenant to publish and promote their vacancies, screen applications, and manage leases for free. TurboTenant earns money by charging potential renters $35 to $45 for tenant screening and a criminal background check, as well as via an a la carte menu.
The a la carte menu at TurboTenant includes:
- Signature on an electronic document costs $9.
- Rent estimate report: $14.99; assists you in effectively pricing your rent.
- A forms package costs $99 and contains pet addendums as well as a move-in/move-out checklist.
- State-specific legal forms start at $29 and go up from there.
- Signs for Rent: $14.99 per sign
Features
Landlords may use TurboTenant to advertise rental properties, accept online applications, evaluate potential renters, and manage papers. It syndicates postings to sites like Apartments.com and Rent.com, as well as makes it simple to post units on Craigslist.
- Landlords may submit unit descriptions, amenities, and upload images as marketing materials. TurboTenant syndicates the listing on over a dozen well-known rental listing sites and adds a Craigslist and Facebook Marketplace ad for landlords to publish.
- Landlords have the option of customizing tenant questions in the rental application. Tenants may complete applications on any device and submit essential papers.
- Tenant background screening: TurboTenant offers two tenant background screening options: a soft TransUnion credit draw and a criminal history check. The more expensive report contains information on previous evictions.
- Landlords may use TurboTenant’s leasing tools to develop state-specific documents such as lease agreements and property addendums. It also provides online storage for signed lease copies and other crucial papers.
When Should You Use TurboTenant?
TurboTenant is a great choice if you don’t want to pay for monthly membership service. Even while it isn’t as active as Avail, it nevertheless provides free marketing tools and leasing management. Its a la carte menu allows landlords to pick and choose the services they require.
TenantCloud; best free property management software for properties with up to 75 units.
TenantCloud is a property management software that focuses on managing properties for new landlords and property managers with portfolios of fewer than 500 units on a tight budget. The first 75 units are free, and the tiered pricing for bigger rental portfolios is a great deal.
Features
Free property management software, cloud storage, templates, e-signature, and online rent payments are all available via TenantCloud’s tiers. Landlords may also pay for tenant screening, rental reports with market data, and legal services on an individual basis. Its platform allows tenants to purchase renter’s insurance.
- Landlords may use their own professional-looking website to post their vacancies and submit images. TenantCloud does not make its listings available on other websites.
- Tenant background screening: TenantCloud’s basic tenant screening services start at $22.95, and landlords or renters may pay for them. Platinum screening costs $34.95 and includes verification of employment and residency.
- TenantCloud is accounting software that enables landlords to handle basic financial data and provides customized accounting as part of their subscription plans. It’s also fully integrated with QuickBooks Online.
- Online rent collecting, maintenance requests, leases, and e-signatures are all examples of leasing technologies. It also has a template builder that allows you to personalize your papers. Tenants may apply for rental leases right on the platform.
When Should You Use TenantCloud?
TenantCloud is an economical solution for you if you have less than 500 units and one to five workers doing administrative chores. It’s also a smart choice if you don’t require your openings to be syndicated.
Property Manager Cloud: best Comprehensive Property Management Software
Single-family houses, multifamily structures, mobile home parks, and motels are all covered by Property Manager Cloud. This makes it an excellent choice for property managers with both commercial and residential properties to handle. It’s also appropriate for landlords who own one or more rental homes. Subscribers may discontinue their free trial at any point throughout the 60-day period.
Features
The Property Manager Cloud dashboard displays critical property information as well as a property analysis including cap rate, net present value (NPV), and cash-on-cash return. The technology is nearly totally paperless and effortlessly organizes users’ data.
- Marketing tools include: Craigslist, Google, Facebook, and Rent.com all use Property Manager Cloud to syndicate listings. It allows landlords to make fliers, newsletters, and mass email, as well as offer information to the media.
- Tenant background screening: The program examines applicants’ FICO scores as well as their legal history, including criminal, sex offender, and terrorist records. National eviction checks and Social Security numbers are also supplied. The verification of income and employment is not covered.
- Property Manager Cloud offers a variety of rental payment methods and immediately updates tenant accounts. It maintains track of maintenance to prevent making repeat payments. It also creates up-to-date tax paperwork.
- Lease management software: Leases may be kept online. It is not, however, paperless, and landlords must manage scanned papers received from renters. Online maintenance requests and follow-ups are available to residents. Each maintenance repair order may have pictures and data added to it.
Who Should Use Property Manager Cloud?
Property Manager Cloud is ideal for managing a portfolio of various sorts of properties or for property managers that handle a variety of property types. If you want a full property study that includes the cap rate, net present value, and cash-on-cash return, go with Property Manager Cloud.
Buildium; the most effective property management software
Buildium is suitable for handling groups of more than 50 units. This program is also useful for student housing and low-income housing. Those in charge of more than 100 units have the option of customizing their plan. Buildium’s cost is greater than some of the other software since it is designed to manage a bigger number of units. Buildium is well-known for its Buildium Academy training and assistance, which is highly regarded.
Features
Owner and resident portals with crucial information and built-in property inspection tools are among Buildium’s features. Buildium’s online data protection is more secure than most of its rivals, and the site also offers renter’s insurance. Buildium has won honors for customer service and prides itself on resolving issues on the first call.
- Listings are produced so that they may be published on managers’ websites as marketing tools. Buildium syndicates rental ads throughout the entire Zillow network and publishes them on Craigslist.
- Tenant background checks: Applicants may fill out a customized rental application online. This information includes credit, criminal, and eviction history. Users using Buildium Pro may create unique credit score criteria to help screen candidates more quickly.
- Buildium is an accounting program that keeps track of all charges, payments, deposits, and refunds. Trash disposal, for example, might be prorated among renters. Users may also set up automated payments to suppliers for recurring products.
- Buildium’s leasing tools enable renters to sign papers from any device. It comes with auto-fill lease templates, which enter tenant names, rent amounts, and dates for you. Tenants may use the platform to set up autopay and submit maintenance requests.
When Should You Use Buildium?
Buildium may be the appropriate program for you if you’re afraid about utilizing internet applications. It has an excellent customer service team and a highly rated Buildium Academy to help you get started. It also offers great data security, giving landlords and renters additional piece of mind that their information is secure.
AppFolio: The Best Buildium Alternative
Managers of multifamily, single-family, student housing, HOA, condominiums, or commercial property portfolios should consider AppFolio. This sophisticated program is ideal for controlling a large number of units, such as more than 50. For each sort of property that AppFolio handles, it charges a per-unit fee.
Pricing
- The onboarding charge is $400 as a minimum.
- The minimum monthly charge is $250.
- Price per unit: 80 cents to $1.50
Features
Rent collecting, accounting, marketing tools, and maintenance requests are all included in AppFolio. Any device may access all of its functions. AppFolio has features tailored to various property kinds.
- AppFolio’s marketing features include one-click syndication, which allows users to submit a single listing to several sites such as Zillow and Craigslist. It creates web pages for each property portfolio and is fully customizable.
- Landlords may personalize tenant background screening criteria with precise credit scores and income restrictions. Credit, eviction, and criminal history checks are all available.
- Users may input one-time and regular bill payments into accounting software. Budgeting, revenue, and spending monitoring, as well as basic bank reconciliations, are all included.
- AppFolio’s leasing solutions include online templates, tenant maintenance requests, and electronic signatures. Rental increase updates, task management, and lease monitoring may all be scheduled by users.
When Should You Use AppFolio?
Large portfolios of 50 or more pieces are most suited for AppFolio since they are the most cost-effective. It’s an excellent Buildium alternative that gives consumers a professional-looking website. If you want to design one ad per unit and syndicate it across major rental sites, AppFolio is the way to go.
The Methods We Used to Choose the Best Property Management Software
Tenant screening, rent collecting, document signing, and maintenance requests are all included in our top property management software suppliers’ easy-to-use software.
The best property management software companies were chosen based on the following criteria:
- Structure and a la carte alternatives for pricing
- What is included in each tier’s features?
- What sorts of properties does it specialize in, such as single-family houses or apartment complexes?
- The number of units: The software’s capacity to handle a certain number of units.
Conclusion
Based on their price structure, features, and property management software evaluations, we identified our top six property management software suppliers. For you, the finest property management software is one that offers the most features at a reasonable cost.
