6 Best Property Management Software Products
If you’re a property management professional or a new landlord, having the right software to manage your properties is absolutely essential. Property management software saves you valuable time, and ensures that you are able to deliver excellent service to your tenants, both commercial and residential.
In this post, we’ve outlined our top picks for the best 6 property management software systems of 2018. Get the details below, and see if it’s time to make the switch to a property management system!
AppFolio has a long track record, and has been one of the most popular options for property management software for years. Let’s take a look at what this software offers now.
Pricing– AppFolio, like many competitors, uses a per-unit pricing system. Each month, you’ll pay:
- $1.25 per residential unit
- $1.50 per commercial unit
- $1.25 per student housing unit
- $0.80 per community association unit
Features – AppFolio has an enormous list of features, including:
- Advanced online owner portal with eCheck support and texting supports
- Maintenance request and work order portals
- Powerful marketing tools for advertising listings, getting leads, and posting vacancies
- Leasing tools include background checks, online renter portals, rent increase scheduling, and rental application management
- Flexible accounting & reporting tools
Property types– As mentioned in the pricing section, AppFolio can be used for commercial units, residential and student housing, and community associations.
Who is it right for?– AppFolio is ideal for anyone with a mix of both residential and commercial properties. However, it is not ideal for those managing larger industrial properties like warehouses and factories.
If you manage a mixed portfolio and need a simple management system with plenty of features, AppFolio may be the right choice.
2. Building Engines
Building Engines is a great choice for commercial real estate managers. Here’s what you need to know:
Pricing– Pricing for Building Engines is based on square footage, and the type of properties you are managing, including:
- Medical offices
- Commercial offices
- Retail space
- Industrial space
To get a personalized quote, you can enter information about your property on the Building Engines website.
Features – Building Engines is primarily meant to help owners handle work orders and maintenance, with features like:
- Work order management portal with preventative maintenance scheduling
- Certificate of Insurance (COI) automation
- Visitor tracking
- Tenant portals
- 24/7 support from Building Engines
- Accounting and reporting functionality
Property types– Building Engines can’t be used for residential properties. All other types of property are supported.
Who is it right for?– Commercial property owners who own a large number of different properties in diverse industries.
3. Yardi Voyager
Yardi Voyager is useful for both new landlords and property managers who own a large and diverse assortment of different units.
Pricing – Pricing for Yardi Voyager depends on the type and number of units you are managing. The company only provides pricing information upon request, and after receiving details about the properties you manage.
Features– Yardi Voyager has a number of advanced features like:
- Lease and workflow automation
- A powerful accounting engine and advanced analytics capabilities
- Document management
- Compliance tools
- Maintenance and repair portals
Property types– Yardi Voyager can be used for any type of real estate, including:
- Single-family properties
- Multi-family properties
- Military housing
- Commercial and industrial buildings
Who is it right for?– Property managers with very diverse portfolios who need cutting-edge technology and mobile support.
RealPage has been in the property management business for more than 2 decades. Here’ what you need to know about their cutting-edge platform.
Pricing – RealPage does not provide pricing to users until they ask for a quote. Pricing varies based on number of units managed, their type, and a number of other factors.
Features– The features of RealPage include:
- Utility management
- Fully-featured resident portal with online bill pay
- Compliance monitoring and document management tools
- Budgeting, accounting, and cash flow reporting and tools
- Asset condition management and valuation
Property types– RealPage supports a full suite of properties, including military housing, senior housing, student housing, vacation homes, single and multi-family properties, affordable housing, and commercial real estate.
However, it’s not intended for managing industrial properties.
Who is it right for?– Property managers with a varied portfolio of residential and commercial property, but no industrial properties like factories or pipelines.
5. Rent Manager
Rent Manager is perfect for newer landlords or property managers. Here’s what you need to know.
Pricing – Rent Manager offers Rent Manager Online, a cloud-based service, as well as Rent Manager Standalone, which runs on a local computer, and is meant for enterprise-level use. Both products have pricing only on request.
Features– The features of Rent Manager include:
- Complete platform customization
- Streamlining and automation of processes like sending rent reminders and overdue warnings
- Powerful accounting software suite
- Access from any device using Rent Manager Online cloud tools
- Integrations with other products like RHR, Metric-x, AmRent, Paylease, ApartmentList, Safeguard, and more.
Property types– Rent Manager can be used for all types of property, from multi-family housing to student housing, commercial property, and more.
Who is it right for?– Anyone looking for an easy-to-use, but flexible and customizable real estate management platform.
With a history that stretches back nearly 15 years, Buildium has been a go-to for residential property managers for quite a while.
Pricing – Buildium CORE can be purchased if you manage under 150 units. For 150 units, the cost is $225 per month, with fees for some services.
If you manage over 150 units, you must purchase Buildium PRO. For 150 units, this costs $240 per month. The more units you manage, the more you will pay. You can save 10% by prepaying for a year of service.
Features– Buildium has a number of desirable features, such as:
- Lead generation and conversion tools
- A full accounting, budgeting, and reporting suite
- Fully-featured tenant/owner portal with communication and maintenance request features
- Workflow and task automation
- Web-based architecture that can be accessed anywhere
Property types– Buildium is primarily targeted to those who manage affordable housing, student housing, residential properties, and homeowners associations (HOAs).
Who is it right for?– Property managers who focus on residential housing, and are looking for an intuitive, flexible, and powerful management platform.
Buildium was first founded in 2004 in Boston, and is primarily marketed towards property managers who manage residential rentals, student housing, affordable housing properties, or HOAs and other associations.
Find The Right Software For You!
Whether you manage one property, or 10,000, there is sure to be a property management software on this list that is perfect for you. Start scheduling demos today, and see if you can benefit by investing in a new property management system.
Max Cash Home Offers offers instant cash offers on houses nationwide. We do not provide legal or financial advice. For information on foreclosure, eviction or any other legal situation make sure you contact a local attorney.
Author: Ryan Cruz
Ryan received his Bachelors of Science in Business Administration from the University of La Verne. Ryan has a strong passion for marketing and the real estate industry while leading and managing all online marketing efforts for Max Cash Home Offers.