Top 5 Property Management Software

Are you looking for the best software to manage your rental properties? Look no further! In this article, we have compiled a list of the top 5 property management software that will make your life easier as a landlord.

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Introduction

Owning a rental property can be a lucrative investment, but managing it can be a daunting task. From collecting rent to handling maintenance requests, the responsibilities can quickly pile up. Fortunately, property management software can help streamline these tasks and make your life easier.

But with so many options on the market, choosing the right software can be overwhelming. That’s why we have done the legwork for you and compiled a list of the top 5 property management software.

Why Use Property Management Software?

Property management software can help simplify the day-to-day tasks of managing rental properties. Here are some of the benefits of using property management software:

Automate rent collection and track payments
Streamline maintenance requests
Keep track of leases and tenant information
Generate detailed financial reports
Improve communication with tenants

With these benefits in mind, let’s dive into our list of the top 5 property management software.

Top 5 Property Management Software

Software	Features	Pricing
AppFolio	Online rental applications, tenant screening, maintenance tracking, automatic payments	Starts at $1.25/unit/month
Buildium	Tenant screening, rent collection, maintenance tracking, tenant portal	Starts at $50/month
Cozy	Online rental applications, tenant screening, rent collection, maintenance tracking	Free for landlords
Propertyware	Rent collection, tenant screening, work order management, lease tracking	Contact for pricing
Rent Manager	Rent collection, tenant screening, maintenance tracking, accounting	Contact for pricing

1. AppFolio

AppFolio is a cloud-based property management software that is designed for residential and commercial properties. It offers a range of features to help manage your properties, including online rental applications, tenant screening, maintenance tracking, and automatic payments.

Some of the key features of AppFolio include:

Tenant screening: AppFolio allows you to quickly screen potential tenants by checking their credit history, criminal background, and eviction history.
Maintenance tracking: You can track maintenance requests, schedule repairs, and communicate with vendors all in one place.
Automatic payments: Tenants can set up automatic payments to ensure that rent is always paid on time.

AppFolio pricing starts at $1.25 per unit per month, and there is a one-time onboarding fee of $400.

Pros of AppFolio

User-friendly interface
Robust tenant screening options
Automated rent collection

Cons of AppFolio

Higher pricing compared to some competitors
Limited customization options

2. Buildium

Buildium is a cloud-based property management software that is designed for small to medium-sized landlords. It offers a range of features to help manage your properties, including tenant screening, rent collection, maintenance tracking, and a tenant portal.

Some of the key features of Buildium include:

Tenant screening: Buildium allows you to easily screen potential tenants by checking their credit history, criminal background, and eviction history.
Rent collection: You can collect rent online and set up automatic late fees.
Maintenance tracking: You can track maintenance requests, schedule repairs, and communicate with vendors all in one place.

Buildium pricing starts at $50 per month, and there is a one-time setup fee of $99.

Pros of Buildium

Affordable pricing
Robust tenant screening options
Easy-to-use interface

Cons of Buildium

Limited customization options
Reports can be difficult to generate

3. Cozy

Cozy is a property management software that offers a range of features to help manage your rental properties. It is completely free for landlords to use, and tenants can also use the software to pay rent and submit maintenance requests.

Some of the key features of Cozy include:

Online rental applications: Cozy allows potential tenants to apply for your rental property online.
Tenant screening: You can screen potential tenants by checking their credit history and criminal background.
Rent collection: You can collect rent online and set up automatic late fees.

Cozy is completely free for landlords to use, and tenants can use the software to pay rent for free.

Pros of Cozy

Completely free for landlords
Easy-to-use interface
Robust tenant screening options

Cons of Cozy

Limited customization options
Limited features compared to some competitors

4. Propertyware

Propertyware is a cloud-based property management software that is designed for residential and commercial properties. It offers a range of features to help manage your properties, including rent collection, tenant screening, work order management, and lease tracking.

Some of the key features of Propertyware include:

Rent collection: You can collect rent online and set up automatic late fees.
Tenant screening: Propertyware allows you to easily screen potential tenants by checking their credit history, criminal background, and eviction history.
Work order management: You can track maintenance requests, schedule repairs, and communicate with vendors all in one place.

Propertyware pricing is not listed on their website, so you will need to contact them for pricing information.

Pros of Propertyware

Robust reporting options
Integration with QuickBooks
Customizable dashboards

Cons of Propertyware

No pricing listed on website
Can be difficult to navigate

5. Rent Manager

Rent Manager is a property management software that is designed for residential and commercial properties. It offers a range of features to help manage your properties, including rent collection, tenant screening, maintenance tracking, and accounting.

Some of the key features of Rent Manager include:

Rent collection: You can collect rent online and set up automatic late fees.
Tenant screening: Rent Manager allows you to screen potential tenants by checking their credit history, criminal background, and eviction history.
Maintenance tracking: You can track maintenance requests, schedule repairs, and communicate with vendors all in one place.

Rent Manager pricing is not listed on their website, so you will need to contact them for pricing information.

Pros of Rent Manager

Customizable workflows
Integration with QuickBooks
Detailed financial reporting

Cons of Rent Manager

Can be difficult to learn
Limited customization options

Frequently Asked Questions

What is property management software?

Property management software is a tool that helps landlords and property managers manage their rental properties. It can automate tasks such as rent collection, maintenance tracking, and tenant screening.

How much does property management software cost?

The cost of property management software varies depending on the provider and the features you need. Some software is free, while others can cost hundreds of dollars per month.

Can I use property management software for commercial properties?

Yes, many property management software providers offer features specifically for commercial properties.

Is property management software difficult to set up?

It depends on the software you choose. Some software is easy to set up and can be done in just a few minutes, while others may require more time and effort to get up and running.

Can property management software help me screen potential tenants?

Yes, most property management software offers tenant screening features that allow you to check credit history, criminal background, and eviction history.

Can I collect rent online with property management software?

Yes, most property management software allows you to collect rent online and set up automatic late fees.

Can I track maintenance requests with property management software?

Yes, most property management software offers maintenance tracking features that allow you to schedule repairs and communicate with vendors.

Can tenants use property management software?

Some property management software allows tenants to use the software to pay rent, submit maintenance requests, and communicate with their landlord.

Can property management software help me generate financial reports?

Yes, most property management software offers detailed financial reporting that can help you track income and expenses.

Can I cancel my property management software subscription at any time?

It depends on the provider. Some providers require a contract, while others allow you to cancel at any time.

Is it safe to store tenant information in property management software?

Yes, most property management software providers use secure servers and encryption to protect your data.

Can I use property management software on my phone or tablet?

Yes, most property management software providers offer mobile apps that allow you to manage your properties on-the-go.

How often do I need to update my property management software?

It depends on the provider. Some providers automatically update their software, while others require you to manually update.

Can I use property management software if I only have one rental property?

Yes, most property management software providers offer plans that are suitable for landlords with just one rental property.

Conclusion

Managing rental properties can be a daunting task, but property management software can help simplify the process. We have compiled a list of the top 5 property management software that can help you streamline tasks such as rent collection, maintenance tracking, and tenant screening.

Whether you own one rental property or dozens, there is a software on this list that can meet your needs. Choose the one that works best for you, and get ready to make your life as a landlord a whole lot easier!

Disclaimer

The information contained in this article is for educational and informational purposes only and is not intended as legal, financial, or professional advice. Always consult a licensed professional before making any decisions regarding your rental properties.