What is a Property Management Software?
Property management software is a digital tool that supports property managers and landlords in performing their daily duties. It helps them maintain, monitor, and operate their real estate properties—from rent collection to maintenance and repairs. A property management app caters to residential, commercial, and industrial spaces of all sizes. Through effective property management, landlords can increase the value of their assets and keep their tenants safe.
Why Use a Property Management Software?
Property management app solutions help landlords and property owners accomplish their tasks more efficiently. Moreover, an efficient property management system also provides the following benefits:
Simplified Day-to-Day Operations
Tasks such as service requests and payment reminders often take up a lot of time when done manually. But with property management software, landlords can automate their workflow processes in a more streamlined fashion. This practice reduces manual workloads for property managers and their staff, allowing them to focus on more substantial tasks.
Time- and Cost-Effectiveness
Digitizing manual tasks enables property managers to save time, costs, and resources. For example, a property management software presents an exciting alternative to door-to-door rent collection. It allows landlords to collect fees and send invoices electronically. Doing so ensures that they receive payments accurately and on time. Managers no longer need to knock on their tenants’ doors to follow up, for the platform does the work for them.
Improved Tenant Services
A property management app also includes features that let managers screen, select, and manage their residents. The platform keeps track of contact, lease, rent, and other relevant details. It also enables them to relay important messages to tenants on any device. With this software, landlords can seamlessly manage their tenants from prospect to move out.
Efficient Property Maintenance
Aside from collecting rent and handling tenants, property managers also need to keep their properties in good working condition. This task becomes more streamlined with the help of property management software for landlords. Through this platform, managers can receive, assign, and track maintenance jobs in one place. This allows maintenance teams to accomplish tasks on time and resolve issues as early as possible.
How to Choose the Right Property Management System
Landlords and property managers require robust tools to stay connected with their residents and maximize the value of their assets. A property management app keeps them on top of the game to reach their goals. With the variety of applications available in the market, it can be challenging to find the one that caters to their round-the-clock needs.
Aside from the app features, it’s also essential to consider the following characteristics when deciding on a property management system:
Price
Property type: residential, commercial, industrial, or mixed
Portfolio size: small, medium, or large
Deployment: Web, Mobile (iOS, Android)
To help narrow down your search, the table below compares the best property management apps by their specialties, pricing lists, and deployment.
App/Software | Best For | Free Version | Lowest Paid Plan Monthly Price | Free Trial | Web | Mobile |
Mitti (by SafetyCulture) | All portfolio sizes and types | Yes | $24/user/month* | Yes, 30 days | Yes | Yes |
AppFolio | Large property portfolios | None | $1.40 | N/A | Yes | Yes |
Innago | Small to midsize properties | Yes | N/A | None | Yes | Yes |
Avail | Small property portfolios | Yes | $5 | None | Yes | Yes |
Buildium | Residential properties | None | $50 | Yes, 14 days | Yes | Yes |
ResMan | Multi-family apartments | None | N/A | None | Yes | None |
Condo Central | Condominium units | None | N/A | None | Yes | Yes |
Re-Leased | Commercial properties | None | Custom pricing | None | Yes | Yes |
Lodgix | Vacation rental properties | None | $69.99 | Yes, 30 days | Yes | None |
Easy Storage Solutions | Self-storage facilities | None | $70 | Yes | Yes | Yes |
* billed annually
