The 8 Best Property Management Software for Landlords

Maximize your property management efficiency with our selection of the top 8 software solutions in 2024. These tools offer the latest in operational efficiency, tenant satisfaction, and increased asset value, revolutionizing the way landlords manage their real estate investments. Read on to find out which software fits your needs the best, and how it can propel your property management to new heights.

By
Katie McCann
|
Last Updated
February 2, 2024
The 8 Best Property Management Software for Landlords

In the dynamic world of real estate, efficiency is key. The JLL 2023 Global Real Estate Technology Survey notes that 72% of real estate firms now implement PropTech, a significant jump from just 48% in 2020. This surge highlights the evolving landscape where technology is quickly becoming a vital tool in modern property management.

Read on to learn our top picks for the best property management software that can transform your real estate business, making every aspect of real estate management more efficient and profitable, aligning with your immediate operational needs and your long-term strategic goals, setting you up for sustained success in the competitive real estate landscape.

Features to look for in property management software

Selecting the right property management software requires an in-depth understanding of the key functionalities that each offers, and which features align with your business needs.

Tenant screening and management: This feature is pivotal for establishing a reliable tenant base and simplifying administrative and contact management tasks. Opt for software that offers comprehensive tenant screening services alongside robust management capabilities, ensuring a streamlined process for both rental property owners and tenants.

Rent collection, payment history, and accounting capabilities: The ideal software should offer automatic rent collection features through online payments, reducing the likelihood of late or missed payments. It should also integrate an accounting component for tracking all financial transactions to ensure timely rent payments and precise financial management.

Maintenance and work order tracking: Maintenance tracking is key to keeping properties in top condition. Look for software that allows you to easily track and manage maintenance requests and work orders, so you can resolve issues quickly and keep tenants happy.

Communication tools, mobile apps, and portals: Effective communication is important for a successful tenant-landlord relationship. Choose software that includes features like direct messaging, announcements, and document sharing. These tools should enable seamless interactions between property managers, tenants, and other stakeholders, fostering a collaborative environment.

Reporting and analytics: Many property management software options include customizable reporting tools for tailored insights, export options for external data analysis, and comprehensive analytics for tracking financial performance and tenant activity. Advanced features, particularly in cloud-based systems, such as predictive analytics and automated reporting, also help in data-driven decision-making.

The 8 best property management software options

In today's dynamic real estate market, selecting the right property management software can make or break your growth. To assist you in making an informed decision, here are our 8 best property management software options, each offering unique features and benefits tailored to various property management needs.

1. Azibo

Overview

Azibo is a robust property management software option that caters to a range of property types. Designed primarily for independent landlords, it offers a comprehensive suite of property management tools and features, making it an all-in-one platform for managing rental properties. It positions itself as a one-stop shop for rental property finances, offering a range of tools to stay organized, save time, and optimize passive income generation.

Main features

  • Online rent payments: Azibo simplifies the rent collection process with secure transactions, making it easy for tenants to pay their rent online.
  • Centralized system: Azibo provides a unified dashboard for rental property management, allowing users to easily access and manage all their properties in one place.
  • Scalability: This software is designed for scalability, making it suitable for growing portfolios. It is particularly focused on small to mid-size businesses.
  • Mobile access and integration: Azibo ensures ease of management on the go with its mobile access feature. It is also compatible with other real estate applications, allowing for seamless integration.

Price

Azibo stands out for its cost-effectiveness, offering many of its services for free. Key aspects of their pricing include:

  • Free services: Online rental application, ACH transactions for rent collection, landlord bank account, accounting, reporting, tax prep tools, maintenance coordination, and tenant messaging.
  • Paid services: Custom state-specific lease agreements and e-signature services, tenant screenings, credit card transaction fees for rent payments, optional rent payment reporting to credit bureaus, and premium onboarding for larger portfolios.

Who is Azibo best for?

Azibo is an ideal choice for self-managing real estate investors who are looking for a versatile and centralized property management solution, particularly those handling a small to medium number of units with growing portfolios. It is especially beneficial for landlords focused on the financial and accounting aspects of property management, offering tools that streamline these processes and assist in growing their business.

2. Avail

Overview

Avail is a comprehensive property management software designed primarily for independent landlords and small rental businesses. It simplifies various aspects of property management, including tenant screening, lease creation, rent collection, and maintenance tracking. The software is known for its ease of use, scalability, and affordability, making it a practical solution for landlords who manage a few units or are gradually expanding their real estate portfolios.

Main features

  • Rental listings: Avail allows syndication of rental listings across multiple platforms, such as Zumper, Padmapper, and Apartments.com, increasing the visibility of properties.
  • Tenant screening: Offers thorough tenant screening services, including credit checks and background checks.
  • Digital leasing: State-specific, lawyer-reviewed lease templates with digital signature capabilities.
  • Online rent collection: Facilitates direct-deposit online rent payments, along with features like auto-generated receipts and rent reminders.

Price

Avail offers a tiered pricing structure:

  • Unlimited plan: Free, includes basic features like rental listings, tenant screening, and online rent payments.
  • Unlimited plus plan: Starts at $7/unit/month, adds features like next-day rent payments, waived ACH fees, custom applications and leases, and a property website.

Who is Avail best for?

Avail is best suited for small-scale or independent landlords who need an all-in-one solution for managing rental properties. It's particularly beneficial for landlords who are starting with a single unit or a small number of units and looking for a scalable solution that can grow with their real estate business. The software is ideal for landlords who prefer managing their properties remotely or without the need for a large property management team.

3. TurboTenant

Overview

TurboTenant is a popular property management software that caters to DIY landlords, particularly those managing properties between 1 to 100 units. It is specifically designed for managing residential properties and offers an easy-to-use interface.

Main features

  • Rental listings and advertising: TurboTenant allows for the syndication of rental advertisements to multiple platforms, increasing the visibility of properties.
  • Tenant screening: The platform provides comprehensive tenant screening services, including credit reports, criminal records, and eviction history checks.
  • Online rent collection and payments dashboard: Offers a streamlined system for rent collection and a clear record of all payment transactions.
  • Maintenance requests and tracking: Landlords and tenants can initiate and track maintenance requests through the platform.

Price

TurboTenant operates on a "freemium" model. The free plan covers most basic features, but for additional capabilities such as expedited rent payouts and unlimited e-signatures, the Vacancy Pro and Manage Pro plans are available at a minimum monthly fee of $8.25 per month billed annually. There is also a Premium plan at $10.75 per month.

Who is TurboTenant best for?

TurboTenant is an ideal choice for landlords and property managers who primarily deal with single-home properties. It is particularly well-suited for DIY landlords who want a user-friendly software solution without breaking the bank. However, it may not be the best fit for those managing larger portfolios or commercial properties, as it is primarily focused on residential property management.

4. DoorLoop

Overview

DoorLoop is a comprehensive property management software launched in 2021, designed to cater to various types of real estate, including residential, commercial, community associations, and more. It offers a range of features for landlords, rental agents, and investors, enabling efficient management of properties, whether from a computer or through its convenient mobile app.

Main features

  • Tenant and property management: DoorLoop provides tools to manage tenants and properties efficiently, with features like tenant portals for communication, rent payments, and maintenance requests.
  • Accounting and financials: The software includes robust accounting features, allowing for direct deposits, tax preparation, and bank account synchronization. It integrates with popular accounting software like QuickBooks.
  • Tenant screening: Comprehensive tenant screening tools are available, including credit, criminal, and eviction checks.
  • Customizable reports: The platform offers unlimited custom reports, making it easier for property managers to track and manage various aspects of their properties.

Price

DoorLoop offers three main pricing plans:

  • Starter Plan: Starting at $24.50/month for managing 1-20 units, this plan includes basic features like tenant screening and maintenance management.
  • Pro Plan: Beginning at $49.50/month for 1-20 units, it offers additional features like user access roles and QuickBooks Online Sync.
  • Premium Plan: Starting at $74.50/month for 1-20 units, this plan includes all Pro features plus free ACH payments and API access.

Who is DoorLoop best for?

DoorLoop is ideal for a wide range of property management scenarios. It's particularly beneficial for those managing multiple types of properties, from small residential units to large commercial properties. Its user-friendly interface and comprehensive feature set make it suitable for both new and experienced property managers who seek an all-in-one property management solution.

5. Rentredi

Overview

RentRedi is a landlord-tenant rental management software designed for managing rental properties efficiently. It's particularly suitable for small to mid-size landlords and property managers. RentRedi offers a comprehensive dashboard for landlords to manage various aspects of their properties, including listing properties, screening tenants, collecting rent, and handling maintenance requests.

Main features

  • Tenant management: RentRedi enables landlords to prequalify and screen tenants, including services for credit reports, eviction history, and custom leasing recommendations.
  • Rent collection and tracking: Landlords can collect rent through mobile-submitted payments and track all transactions within the software.
  • Maintenance management: The platform allows for the management of maintenance requests submitted by tenants, ensuring efficient tracking and updating of the entire maintenance process.
  • Marketing tools: RentRedi provides tools for advertising rental properties across various platforms. Additionally, landlords can create a marketing webpage for their properties.

Price

RentRedi offers a straightforward pricing model with no hidden fees:

  • Monthly Pay-As-You-Go Plan: $29.95/month
  • 6-Month Plan: $19.95/month
  • Annual Plan: $12.00/month

Note that additional setup fees and costs may apply for certain features, such as maintenance coordination.

Who is Rentredi best for?

RentRedi is an excellent choice for small to mid-sized landlords and property managers who need a comprehensive set of tools for managing rental properties. It is particularly beneficial for self-managing or long-distance landlords who manage multiple properties from a single platform.

6. Tenant Cloud

Overview

TenantCloud is an all-in-one rental, property accounting, and management software that caters to both landlords and property managers. It's a versatile tool that can be used effectively by landlords with a few properties or larger-scale investors managing hundreds of properties. The software's primary features include rent collection, rental property accounting, vacancy listing, and property analysis reporting. TenantCloud is cloud-based, making it accessible from any device.

Main features

  • Rent collection and accounting: TenantCloud facilitates online payment collection and includes basic accounting features.
  • Maintenance requests and scheduling tools: The software offers efficient tools for managing maintenance requests and scheduling.
  • Tenant and property management features: TenantCloud provides comprehensive property management functionalities including lease agreement templates, online leases, work order management, and property keys and specs management.
  • Tenant screening: The platform includes tenant screening services such as identity validation and comprehensive reporting.

Price

TenantCloud offers several pricing plans (when paid annually):

  • Starter Plan: $15.60/month, suitable for small portfolios.
  • Growth Plan: $29.30/month, aimed at larger portfolios.
  • Business Plan: $50.40/month, designed for property managers and owners. Customized pricing is also available for larger business needs.

TenantCloud also offers a free version, although it is limited to 75 units.

Who is TenantCloud best for?

TenantCloud is an ideal solution for landlords and property managers who need an internet-based platform for managing rent collection, maintenance requests, online payments, and various aspects of property management. Its scalability makes it a good fit for those managing a small number of properties, as well as those overseeing larger portfolios.

7. Propertyware

Overview

Propertyware is a comprehensive property management software tailored for residential rental property managers, particularly those managing single-family units. It's known for its advanced tools that optimize profitability in real estate investments and cater to landlords and property management firms of various sizes. The software's key attractions are its comprehensive functionality, seamless integration, easy customization, and user-friendly interface.

Main features

  • Maintenance management: Propertyware allows tenants to submit maintenance requests, which managers can address directly within the software, including hiring vendors and monitoring job progress. It also features automatic maintenance scheduling.
  • Tenant screening: The software includes custom screening criteria with AI-powered credit scoring reports.
  • Financial reporting and expense tracking: Propertyware offers comprehensive financial reporting and expense tracking, with online rent collection and check scanning capabilities.
  • Tenant portal: This feature enables tenants to submit maintenance requests, communicate with landlords, and make rent payments efficiently.

Price

Propertyware's pricing is divided into three plans:

  • Basic Plan: $250/month, plus $1.00/unit, with a focus on small portfolios.
  • Plus Plan: $350/month, plus $1.00/unit, suitable for larger portfolios.
  • Premium Plan: $450/month, plus $2.00/unit, designed for extensive property management needs.

Each plan has an implementation fee, typically double the monthly subscription price. Additional fees apply for tenant screening and online payment services.

Who is Propertyware best for?

Propertyware is best suited for residential rental property owners and managers, specifically those dealing with single-family units. It is not recommended for commercial or multi-family property management companies. The software is ideal for landlords and property managers seeking a robust, customizable solution for managing a range of property management tasks, from maintenance and leasing to financial reporting.

8. PayRent

Overview

PayRent is a property management software designed with DIY landlords in mind. It offers a convenient and secure platform for landlords to manage rent collection, track renter's insurance, and send past-due notices. PayRent's focus is on simplifying the rent collection process, ensuring timely payments, and building positive relationships between landlords and renters.

Main features

  • Rent collection: Landlords can collect rent securely, with options for bank transfers and credit card payments. The software streamlines the rent collection process and offers tools like Bank Balance Verification to minimize non-sufficient funds issues.
  • Payment controls: PayRent allows landlords to set rules for late or partial payments, ensuring greater control over cash flow.
  • Automated late fees: The software can automatically add late fees for overdue rent payments, helping maintain payment discipline.
  • Tenant communication: PayRent facilitates communication between landlords and renters, ensuring smooth transaction processes.

Price

PayRent offers three plans:

  • Pay-As-You-Go: Ideal for landlords with less than 10 units, offering unlimited units and no monthly fee, but with a $5 bank transfer fee per transaction.
  • Do-It-Yourself: Suited for landlords with 10 or more rental units, priced at $19/month for 25 units included ($3/additional unit).
  • Go-Like-A-Pro: Designed for professional property managers with more than 25 units, costing $49/month for 10 units included ($3/additional unit).

Who is PayRent best for?

PayRent is best suited for DIY landlords, especially those managing a smaller number of rental units. It is ideal for landlords who prioritize ease of rent collection and need a platform that offers security and control over the payment process. The software's features also cater to landlords seeking to establish positive long-term relationships with their tenants.

Deciding which property management software is right for you

Choosing the right property management software involves a balance between your specific operational needs and the software's features while considering pricing, user experience, customer support, and scalability for future growth.

Key considerations

  • Assess needs: Identify your unique business requirements, such as compatibility with current systems and scalability potential. Look for software offering comprehensive solutions across various property types and management aspects, including accounting and tenant relations.
  • User-friendliness and support: Evaluate the ease of use and the quality of customer support. A user-friendly interface, accompanied by extensive training resources, ensures smooth operations and tenant interactions.
  • Scalability for growth: Consider if the software can manage the increased demands of a growing portfolio. Important features include robust property and tenant management tools, comprehensive financial management, effective communication channels, and integration capabilities for additional services or systems.

The right property management solution should align with your business objectives, be user-friendly, provide strong customer support, and grow your business. Assessing these factors will guide you to a software that contributes to the efficient and successful management of your properties.

The advantages of adopting property management software for landlords

The integration of property management software into real estate professionals' toolkits is more than just a modern convenience; it's a strategic move that revolutionizes property management.

The primary advantages gained from adopting property management software, as identified by firms, are threefold: 63% report enhanced operational efficiency, 57% experience an improved tenant experience, and 52% see an increase in asset value. These benefits reflect the significant impact of new property management software such as Azibo, enriching tenant interactions and boosting the overall value of real estate assets.

Why Azibo stands out as the best choice:

  • Streamlined operations: Azibo automates crucial tasks like rent collection, lease renewals, and tenant screening, significantly reducing the time spent on routine activities.
  • Robust financial management: With features to meticulously track income and expenses, Azibo ensures landlords can generate accurate and timely financial reports.
  • Efficient maintenance coordination: Its online portal system simplifies the process of receiving and addressing maintenance requests, connecting landlords directly with pre-screened contractors.
  • Comprehensive integration: Azibo's compatibility with various real estate applications creates an all-encompassing platform for diverse property management needs.

Ultimately, Azibo emerges as the top recommendation, distinguishing itself with its blend of user-friendly technology, comprehensive management tools, and integrative capabilities. By leveraging Azibo, landlords can expect not just to manage but to excel in their real estate ventures, fostering growth, tenant satisfaction, and a streamlined approach to property management.

Property management software FAQs

What is the largest property management company in the US?

The largest property management company in the US may change over time, so it's best to refer to current industry reports or conduct an online search for the most up-to-date information. However, Greystar Real Estate Partners LLC is believed to be the largest property management system in the US currently.

Is property management software suitable for small landlords?

Small landlords using property management software find it useful to streamline many aspects of their portfolio management, depending on their specific needs and preferences. There are software options designed for various property sizes, including smaller portfolios.

Small landlords can benefit from software that helps them streamline day-to-day business operations, track maintenance requests, collect rent, and more. To learn about the best options for small landlords, check out this article.

Can you use Excel for property management?

While Excel can be used for basic property management tasks like tracking expenses and rental income, dedicated property management software offers more robust features for tasks such as tenant screening, task automation, and generating rental listings. Excel may be suitable for small-scale property management, but software designed for property management can offer greater efficiency and organization.

Does QuickBooks have property management software?

QuickBooks offers accounting software but does not provide dedicated property management software. Small landlords can use QuickBooks to manage financial aspects of their properties, such as tracking rental income and expenses, but they may need additional property management software to handle other aspects of property management.

Katie McCann

Katie is a seasoned freelance writer specializing in SEO with a passion for educating others. As she's grown her own site, she's mastered keyword research, content creation, and trend analysis. Leveraging her extensive renting experience, Katie offers unique insights into the rental property sector, producing content that connects with both landlords and tenants. Beyond SEO, her knowledge spans e-commerce and blogging, highlighting her commitment to excellence.

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