Best Real Estate Property Management Software

Real estate management software solutions are built with the aim to reduce costs and enhance value and productivity. For an investor, it is critical to understand the right geographic location to invest, the best property to buy, and the ways to efficiently manage properties to get the desired returns. Property management software for real estate has features that support the demands. If you are looking for a similar software, then take time to explore the below-mentioned list of best real estate property management software. The list is prepared specially by the expert analysts at GoodFirms. You can also find the reviews and key features of each of the software mentioned.

Real Estate Property Management Software
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List of Real Estate Property Management Software | Real Estate Property Software

  • Innago

    Property Management Made Simple.
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    Innago has the versatility to accommodate each of your properties, from student units to commercial space. Regardless of your portfolio, we’ve got you covered. We at Innago believe access to intuitive, simple property management tools should be universal and free. Better features attract better tenants and make your life easier.... learn more about Innago

    Entry Level Price
    Free version
    Free Trial
    Available
    50%

    Category Focus

    Real Estate Property Management Software
  • TheHouseMonk

    Give a world class customer experience
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    TheHouseMonk is a property management platform which helps customers better manage their real estate assets. The company services real estate developers, property management companies, home owners associations and property owners, and helps them in handling accounts, finance, facility maintenance, enhanced security and gate management, communications and much more! ... learn more about TheHouseMonk

    "An affordable suite of products for property management companies. Good customer service!"
    Shan Elangovan
    Entry Level Price
    Free version
    Free Trial
    Available
    50%

    Category Focus

    Real Estate Property Management Software
  • Buildium

    Manage more than properties.
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    Buildium lets you spend less time on your routine, so you can focus on your business. We're built to support property managers' needs. Whether you're working in an office, on-the-go, or looking to streamline financials, we've got you covered.... learn more about Buildium

    Entry Level Price
    $50 per Month
    Free Trial
    14 days
    25%

    Category Focus

    Real Estate Property Management Software
  • Yardi Breeze

    Refreshingly simple software.
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    Refreshingly simple software for property management. Go mobile with a platform that’s intuitive to use, quick to set up and designed to work on any device – backed by Yardi’s unmatched experience and reliable accounting. Manage properties the easy way!... learn more about Yardi Breeze

    Entry Level Price
    $1 per Month
    Free Trial
    N/A
    33%

    Category Focus

    Real Estate Property Management Software
  • Cozy

    The foundation for your rentals.
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    Landlords who manage their properties with Cozy have less stress and more time. List properties, screen tenants and collect rent for free.... learn more about Cozy

    Entry Level Price
    Free version
    Free Trial
    Available
    50%

    Category Focus

    Real Estate Property Management Software
  • OnSite Property Manager

    Affordable, professional rental property management software.
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    The heart of our software is the Rent Roll page, which means entering tenant payments, emailing statements and documents, viewing tenant notes, highlighting any tenant for tracking purposes, moving tenants in or out, and printing daily bank deposit slips are only clicked away.... learn more about OnSite Property Manager

    Entry Level Price
    $6.95 per Month
    Free Trial
    60 days
    50%

    Category Focus

    Real Estate Property Management Software
  • Rentec Direct

    SIMPLIFY. AUTOMATE. GROW.
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    Property management software with all the features your business needs. Whether you are a landlord managing a handful of properties or a property manager with thousands, Rentec Direct includes all the features you need to make your operation the most efficient it has ever been.... learn more about Rentec Direct

    Entry Level Price
    $35 per Month
    Free Trial
    14 days
    50%

    Category Focus

    Real Estate Property Management Software
  • openMAINT

    Open Source Property and Facility Management.
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    openMAINT is an application for the management of building, installations, movable assets, and related maintenance activities. It helps the managing authority to know, organize and update those data related to the asset inventory, in order to support their decision and operative procedures. It is a complete ready-to-use solution, i.e. it is configured with all necessary base files, processes, repo... learn more about openMAINT

    Entry Level Price
    Free version
    Free Trial
    Available
    12%

    Category Focus

    Real Estate Property Management Software
  • RealSpace

    Real Estate Software that Delivers Real ROI
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    It has an easy-to-learn, easy-to-use, web-based interface that brings together professional teams in one integrated, intuitive and ready to use real estate business solution for customer communications, sales, marketing and transactions.Quickly create, publish and syndicate your listings. Create beautiful brochures and automatically share to your leads. ... learn more about RealSpace

    Entry Level Price
    $39.00 per Month
    Free Trial
    14 days
    33%

    Category Focus

    Real Estate Property Management Software
  • RealtyWare

    All-in-one Real Estate Software
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    RealtyWare is a modern all-in-one app for international real estate agencies. It increases your organization's productivity via automation, minimizes mistakes, and gives you full control via a purpose-built CRM. Nothing gets lost anymore. And your staff will love it. Convenient emailing, feeds to real estate portals, (micro-)websites, and rentals and relocation with credit card payments. ... learn more about RealtyWare

    Entry Level Price
    $149.00 per Month
    Free Trial
    N/A
    25%

    Category Focus

    Real Estate Property Management Software
  • Building Engines

    Operational Risk Management Requires Preparation, Process & the Right Tools
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    Building Engines is one of the fastest growing SaaS companies serving the commercial real estate market. Based in the heart of Boston, our entrepreneurial and collaborative culture combines the best attributes of an established industry leader with the disruptive attitude of a startup. Building Engines is an operations platform designed for modern commercial real estate organizations to connec... learn more about Building Engines

    Entry Level Price
    Contact Vendor
    Free Trial
    N/A
    33%

    Category Focus

    Real Estate Property Management Software
  • RealPage

    It’s Your Reputation—Take Control of It
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    RealPage Reputation Management is a local SEO and online reputation monitoring platform that makes it easy to oversee all your properties, assess your reputation risks and opportunities and take action. With Reputation Management, you can easily manage reviews, update property listings and engage on social media to help drive lease conversions and directly influence renewal rates. Or you can choos... learn more about RealPage

    Entry Level Price
    Contact Vendor
    Free Trial
    N/A
    50%

    Category Focus

    Real Estate Property Management Software
  • ManageCasa

    Useful Property Management Software
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    ManageCasa’s Intuitive, Interactive & Automated Property Management Solution has been designed to work for DIY Landlords and all sizes of Property Managers that are looking for a holistic and all-inclusive, modern web and mobile solution to stay efficient while grow their portfolio and business. Whether you manage single family, multi-unit properties, student housing, HOA and/or commercial prope... learn more about ManageCasa

    Entry Level Price
    Free version
    Free Trial
    Available
    50%

    Category Focus

    Real Estate Property Management Software
  • UnitConnect

    Easy. Convenient. Powerful.
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    UnitConnect is an online platform for commercial and residential property management. UnitConnect offers solutions directly to service real estate professionals with property management needs, including property management firms, real estate investors, and individuals.UnitConnect makes it easy to manage properties of all types without superfluous features you'll pay for, but never use.Whether comm... learn more about UnitConnect

    Entry Level Price
    $34.00 per Month
    Free Trial
    N/A
    100%

    Category Focus

    Real Estate Property Management Software
  • Property Manager Cloud

    Successfully Manage Your Real Estate Business Anywhere, Anytime, Any Computer
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    Everything online: applications, leases, maintenance requests, late notices, accounting, resident screening, detailed property information and more. Save on office supplies and reduce clutter. Allows you the flexibility to work from anywhere and reduce overhead. Save some trees in the process. Unlimited users. Secure portal where residents can login anytime; create maintenance requests (which are... learn more about Property Manager Cloud

    Entry Level Price
    $15.00 per Month
    Free Trial
    30 days
    33%

    Category Focus

    Real Estate Property Management Software
  • TenantFile

    The best property management software at an affordable one-time price!
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    The Tenant File Property Management Software is owned by W G Software, Inc. It is the leader in software for property managers and owners of rental property. Over 15,000 customers use the Tenant File for their business.The Tenant File product comes in a 100 Unit Version and an Unlimited Version, to accommodate both small and large companies. It is low cost and easy to use, yet has powerful feature... learn more about TenantFile

    Entry Level Price
    Contact Vendor
    Free Trial
    N/A
    100%

    Category Focus

    Real Estate Property Management Software
  • Yardi

    Industry Leading Property Management Software
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    Yardi is dedicated to the design, development, and support of real estate investment management and property management software. We offer full business solutions for every real estate market, including multifamily, single family, affordable, public, senior and military housing as well as office, industrial, and retail market segments.Yardi has the highest commitment to quality, innovation, respon... learn more about Yardi

    Entry Level Price
    Contact Vendor
    Free Trial
    N/A
    33%

    Category Focus

    Real Estate Property Management Software
  • Reww

    BEST PROPERTY MANAGEMENT SOFTWARE FOR INVESTORS & LANDLORDS
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    Today, you are only as good as your software and tech solutions. You are only as efficient as the software you have. Your speed, ability to deliver great service and how much business you can do and money you can make will all rely on this. Not to mention how much free time you’ll have left over and the amount of (or lack of) stress you’ll have on a daily basis. It will even determine the tale... learn more about Reww

    Entry Level Price
    Contact Vendor
    Free Trial
    N/A
    100%

    Category Focus

    Real Estate Property Management Software
  • Planon

    Portfolio management and property planning
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    With over 35 years of experience, Planon is the leading global provider of innovative software, proven best practices and professional services that help building owners and occupiers, commercial service providers, and financial controllers to streamline business processes for buildings, assets, workplaces and people. Independent market research and consulting firms have consistently rated Planon ... learn more about Planon

    Entry Level Price
    Contact Vendor
    Free Trial
    N/A
    16%

    Category Focus

    Real Estate Property Management Software
  • CBT Comply

    Property Management Success And Efficiency
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    CBTComply (Community Banking Technologies) is a highly adaptable technology provider committed to helping solve complex business problems for mid-size companies. We are recognized for delivering Fortune 500 technology tools, right-sized and scaled to meet the needs of our clients as they manage critical exceptions and seek competitive advantage. We have multiple existing modules and construct cu... learn more about CBT Comply

    Entry Level Price
    Contact Vendor
    Free Trial
    N/A
    100%

    Category Focus

    Real Estate Property Management Software
  • Propertyware

    What if you could grow your business your way?
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    Propertyware® is a property management solution for single-family and low-density rental units through a full suite of on-demand property management tools, including customized, hosted websites; online payment processing via credit/debit cards and eChecks; electronic signature powered by DocuSign®; work order management; customer portals; inspections and trust accounting — all in one easy-to-u... learn more about Propertyware

    Entry Level Price
    $100.00 per Month
    Free Trial
    N/A
    100%

    Category Focus

    Real Estate Property Management Software
  • TotalBrokerage

    The only complete Real Estate Brokerage software solution from contact through closing.
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    TotalBrokerage was designed by one of the nation’s top real estate brokers and built by an accomplished software engineering team. After years of exploring inflexible, cumbersome and over-priced real estate software, the frustrated founders set out to design an innovative, world-class and complete real estate brokerage software solution.TotalBrokerage replaces all the other software that a typic... learn more about TotalBrokerage

    Entry Level Price
    $207 per Month
    Free Trial
    N/A
    14%

    Category Focus

    Real Estate Property Management Software
  • Get an up-to-date analysis of your business with KPI reports, graphs and comparisons which help you focus on growing your rent roll.Palace is a smart, easy-to-use property management software.Palace is powerful online property management software.Our trainers' primary focus is to train you on the Palace software and its features and functionality. There are a few different ways this training could... learn more about Palace

    Entry Level Price
    $1.75 per Month
    Free Trial
    N/A
    50%

    Category Focus

    Real Estate Property Management Software
  • Genkan

    PROPERTY MANAGEMENT SOFTWARE FOR VACATION RESERVATIONS & BOOKINGS
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    GENKAN is a new approach to holiday rental property management with online bookings for Real Estate agents and property owners in the business of short term Holiday Rentals Property Management. GENKAN incorporates functionality in one software solution only previously available by licensing multiple softwares with the hassle to integrate your system. ... learn more about Genkan

    Entry Level Price
    Contact Vendor
    Free Trial
    N/A
    25%

    Category Focus

    Real Estate Property Management Software
  • Soft4RealEstate

    Empower your property Management Business
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    SOFT4 is an international brand for industry-specific ("vertical"​) software solutions built on the Microsoft Dynamics 365 Business Central (Dynamics NAV) platform . We have helped 200+ customers and 50+ NAV partners grow and improve their business globally (USA, Canada, Australia, Switzerland, Sweden, etc.).Control your business with up-to-date information, and analyse the health of your proper... learn more about Soft4RealEstate

    Entry Level Price
    Contact Vendor
    Free Trial
    N/A
    100%

    Category Focus

    Real Estate Property Management Software
  • Smart Property Systems

    Your Complete Property Management Solution
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    Smart Property Systems, located in picturesque Sun Valley Idaho provides software as a service for property management. Data is stored in the cloud, giving the user access to valuable, current information about their properties from any internet connection, anywhere in the world. SPS provides a robust basket of tools which make the management of investment property almost automated. Code for this ... learn more about Smart Property Systems

    Entry Level Price
    Contact Vendor
    Free Trial
    Available
    100%

    Category Focus

    Real Estate Property Management Software
  • Bookex

    The smart property management system
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    Bookex is an online booking tool that connects travel managers and suppliers, making management easier and more efficient for both parties.The simplicity of Bookex allows corporate enterprises to easily transition from outdated systems to modern technology, in a secure and cost-effective way. ... learn more about Bookex

    Entry Level Price
    Contact Vendor
    Free Trial
    N/A
    50%

    Category Focus

    Real Estate Property Management Software
  • ManageGo

    A smarter all-in-one tool for property managers
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    ManageGo simplifies property management by integrating online rent payments, maintenance requests, scheduling, rental applications, and more in one platform.Renters pay online from a computer or mobile app, using a checking account or credit/debit card. Property managers get rent payments deposited directly to their bank account the next day.Don’t wait for checks to arrive and waiting to clear, ... learn more about ManageGo

    Entry Level Price
    Contact Vendor
    Free Trial
    N/A
    100%

    Category Focus

    Real Estate Property Management Software
  • Payquad

    ONE SOLUTION. BEST IN CLASS.
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    Payquad Solutions is Canada’s most simple and easy to use property management platform and online rent payment system. Our tenant and operations portals come fully loaded with essential features like maintenance management, a communication module and more to totally revolutionize the resident experience. As partners of Visa, Mastercard, and American Express, we offer residents a variety of onlin... learn more about Payquad

    Entry Level Price
    Free version
    Free Trial
    Available
    100%

    Category Focus

    Real Estate Property Management Software
  • RentMe

    Making life easy for landlords and tenants
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    RentMe - Property management at the push of a button - For Free - Get More Rent for your Rental Properties.It's easy and only takes a few minutes to create your listing and start managing your properties for free.With a single click, we automatically list your properties on Zillow, Trulia, Hotpads, & numerous other networks.Review online applications as well as the most attractive offer prices bid... learn more about RentMe

    Entry Level Price
    Free version
    Free Trial
    Available
    100%

    Category Focus

    Real Estate Property Management Software
  • Jupix

    Get everything, in one place
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    Founded in 2006, Jupix has gone from strength to strength, becoming one of the UK's leading property software providers.Jupix provides leading Estate and Letting Agencies with the complete property platform. As well as our innovative property software, we also provide a combination of web design and branding and bespoke training packages!Jupix is cloud-based property software that unifies your sal... learn more about Jupix

    Entry Level Price
    Contact Vendor
    Free Trial
    N/A
    100%

    Category Focus

    Real Estate Property Management Software
  • Realty Shine

    Automate and reduce sales cycle
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    Property Management Software integrated with Web Portal and Mobile App for Real Estate Agents, Brokers and Developers to stay ahead of the competition.We work hard for your Shining Success.Realty Shine is localized to suit your regional Realty market requirements. It's personalized to your niche business needs.Realty Shine is available on cloud at nominal monthly subscription as well as it can be ... learn more about Realty Shine

    Entry Level Price
    $25.00 per Month
    Free Trial
    N/A
    100%

    Category Focus

    Real Estate Property Management Software
  • Pilera Property Management

    No one offers you more ways to manage your community
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    Pilera is an online community management tool designed to provide highest-level of customer service to your residents. It allows you to save time and money in all aspects of community business. With Pilera you can easily send automated announcements and emergency messages, manage your work orders and vendors, enhance your customer service operations, provide a central login for residents to get al... learn more about Pilera Property Management

    Entry Level Price
    Contact Vendor
    Free Trial
    N/A
    33%

    Category Focus

    Real Estate Property Management Software
  • Hutstack is a cloud-based property management software for managing residential, commercial, and association properties. It helps you run a more modern and efficient business through automation, easier access to all your data, centrally manage your properties, financials, and more, from anywhere, anytime.... learn more about Hutstack

    Entry Level Price
    Contact Vendor
    Free Trial
    14 days
    50%

    Category Focus

    Real Estate Property Management Software
  • Moxtra

    Your OneStop Customer Portal
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    Keep your customers engaged by delivering a one-stop digital experience. Moxtra powers one-stop customer portals, providing a private communication hub, for all of your external and internal users - under your brand. It delivers a continuous connected experience with an all-in-one suite of collaborative services. Moxtra's Platform can power your branded OneStop Portal as a standalone web and mobil... learn more about Moxtra

    Entry Level Price
    Contact Vendor
    Free Trial
    N/A
    12%

    Category Focus

    Real Estate Property Management Software
  • agentOS

    A CRM platform that connects you, via open API, to your PropTech.
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    agentOS provides a comprehensive sales system; new processes for chain management and bespoke editable brochures are just a few of its unique features. Property brochures are one the most important tools that an estate agent has. agentOS gives you full control of your brochure designs using high resolution photo's within Microsoft Word templates. So you can create, edit and save all in Microsoft W... learn more about agentOS

    Entry Level Price
    $61.99 per Year
    Free Trial
    N/A
    50%

    Category Focus

    Real Estate Property Management Software
  • EasyBroker

    Accelerate your real estate sales
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    The management and collaboration platform for real estate agents. EasyBroker is the affordable and easy real estate software solution for managing leads, listings and your website. Get started in minutes and discover the easy way to manage your real estate business. Email and WhatsApp your listings to your clients and colleagues from your desktop computer or cell. Quickly create reports that help... learn more about EasyBroker

    Entry Level Price
    $29 per Month
    Free Trial
    7 days
    50%

    Category Focus

    Real Estate Property Management Software
  • Our Solution Will Help you to Manage all Real Estate Activities. This system is useful for any size Real Estate Companies. In this system, we try to make all real estate operation computerized. Why You Need our Real Estate Solution? Manage Multiple Projects at Same Time Make All Operations Online and Easy to Manage Manage Inventory Manage Office Expenses Communicate Quickly Want to Reme... learn more about Real Estate Solution

    Entry Level Price
    Contact Vendor
    Free Trial
    10 days
    25%

    Category Focus

    Real Estate Property Management Software
  • xRE CRM

    it is a CRM solution that enables businesses to manage projects, bookings, revenue, lease, and more.
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    Designed for small to large businesses in real-estate, it is a CRM solution that enables businesses to manage projects, bookings, revenue, lease, and more. Real estate CRM platform that helps users with email marketing, lead generation, property matching, and more. ... learn more about xRE CRM

    Entry Level Price
    Contact Vendor
    Free Trial
    N/A
    33%

    Category Focus

    Real Estate Property Management Software
  • Zenya

    Automating The Entire Experience Journey from Inquiry to Payment
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    All-inclusive integrated property management solution for rental business brings CRM + PMS + Invoicing + Customer Experience +Automation+ Website Booking+ Adding Partner's Inventory +Up-selling --- under one roof -- ZENYA. Customers can connect with entire team; sales & marketing, operation, administration & accounting, guests – anywhere, any time. Using 100+ configurable rules, customers can cu... learn more about Zenya

    Entry Level Price
    Contact Vendor
    Free Trial
    N/A
    100%

    Category Focus

    Real Estate Property Management Software
  • InteLease

    The best lease abstraction platform designed exclusively for the commercial real estate industry.
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    Uses artificial intelligence to analyze your contracts to help you find the information you need faster and more accurately. Designed and built for lease administration teams, InteLease reduces the time and cost associated with lease abstraction by up to 80%. Spend more time focusing on the important decisions by allowing InteLease to quickly identify, summarize and standardize the key data within... learn more about InteLease

    Entry Level Price
    Contact Vendor
    Free Trial
    N/A
    50%

    Category Focus

    Real Estate Property Management Software
  • Comparative Lease Analysis

    Commercial Real Estate management solutions.
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    Analyze prospective commercial real estate leases easily and accurately using RealData's Comparative Lease Analysis software. Just enter the terms and conditions in this fill-in-the-blanks program and in minutes you can compare the true cost or benefit of multiple leases or scenarios. Analyzes up to 6 lease scenarios, Compares net present values, Useful to both owners and tenants, Shows net revenu... learn more about Comparative Lease Analysis

    Entry Level Price
    $399 per One-time
    Free Trial
    N/A
    33%

    Category Focus

    Real Estate Property Management Software
  • Hive Properties

    One platform to buy, sell, lease, and manage commercial real estate.
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    Hive builds commercial real estate software to help companies simplify lease management and improve property performance. We pair the industry's top talent with the best technology to deliver seamless and intelligent solutions. Then, we bring those people together through our secure software platform. With Hive, Landlords, Property Managers, Brokers, and Tenants have complete visibility into criti... learn more about Hive Properties

    Entry Level Price
    $100 per Month
    Free Trial
    N/A
    33%

    Category Focus

    Real Estate Property Management Software
  • Lease Accelerator

    Manage all your leases centrally.
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    Standardized lease vs. buy analysis and policies, Access to 500+ lessors to get the best terms for every lease. Supports all asset types and complex payment structures and schedules, Centralized data for strategic business insights and cost savings. Single sub-ledger for all your leases that complies with ASC 842 and IFRS 16 standards. An automated, audit-ready monthly close through a global lease... learn more about Lease Accelerator

    Entry Level Price
    Contact Vendor
    Free Trial
    N/A
    50%

    Category Focus

    Real Estate Property Management Software
  • Peruse Software

    Used by organizations of all sizes saving significant time, making your staff more productive.
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    Peruse Software provides Property Management software for both retail tenants and commercial landlords. Each solution is designed to meet the specific needs of the retail tenant or commercial landlord. Peruse Lease is offered as a client/server solution or as an internet-based service. Peruse offers a variety of services designed to rapidly implement the software. Peruse Lease is an affordable app... learn more about Peruse Software

    Entry Level Price
    Contact Vendor
    Free Trial
    N/A
    33%

    Category Focus

    Real Estate Property Management Software
  • MRI Software

    Organize and view locations, contracts, and critical dates all in one place.
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    MRI Software is a web-based lease management solution for real estate departments that helps with renewals, payments, and other lease-related activities. Lease auditing can uncover hidden costs and identify savings opportunities by reviewing all financial considerations related to the lease. It can also involve a review of management and financial reports to ensure FASB and IFRS compliance. If you... learn more about MRI Software

    Entry Level Price
    Contact Vendor
    Free Trial
    N/A
    50%

    Category Focus

    Real Estate Property Management Software
  • LetHub

    A simple and powerful AI platform that decreases time to lease
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    Intelligent leasing automation software platform for property managers powered by Artificial Intelligence. Respond to renters, Book more tours & Promote properties on Autopilot. A simple and powerful AI platform that decreases time to lease‍ without changing anything. Responds to Emails, River is not just an AI chatbot, she also replies to email inquiries. Robust performance analytics to keep an... learn more about LetHub

    Entry Level Price
    $199 per Month
    Free Trial
    N/A
    33%

    Category Focus

    Real Estate Property Management Software
  • LeaseMatrix

    For commercial real estate brokers, landlords and tenants.
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    LeaseMatrix eliminates the need for a separate lease comp database by summarizing the terms of every lease proposal you analyze. CompVault includes dynamic record filtering, allowing users to quickly generate market statistics on demand. All deal terms are 100% confidential and only accessible by account administrators.Elegant, simple to understand charts provide specific and easily presentable re... learn more about LeaseMatrix

    Entry Level Price
    $29 per Month
    Free Trial
    30 days
    50%

    Category Focus

    Real Estate Property Management Software
  • Lease Notes

    Real Estate Lease Management Software.
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    It is a web-based lease management tool providing a cost-effective solution for managing your leases, generating reports, and more. It is Real Estate Lease Management Software. Practices- Lease Abstracting, Lease Administration, Lease Management Software. Industries- Real Estate Brokerage, Property Management, Corporate Services. ... learn more about Lease Notes

    Entry Level Price
    Contact Vendor
    Free Trial
    N/A
    33%

    Category Focus

    Real Estate Property Management Software
  • REportfolio

    Real estate lease administration software solutions.
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    REportfolio is a complete software solution for the management and administration of diverse property and asset portfolios, including multiple leased, owned, and revenue-generating properties. With REportfolio, your team can forecast occupancy costs, track and report payments and receivables, and be reminded of critical lease dates as they are approaching. Track owned and leased site information, ... learn more about REportfolio

    Entry Level Price
    Contact Vendor
    Free Trial
    N/A
    50%

    Category Focus

    Real Estate Property Management Software
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Buyer’s Guide

Introduction to Buyer’s Guide For Real Estate Property Management Software

As one of the long-standing industries today, Property management has undergone a sea of changes, especially in managing day-to-day property management operations. Adopting modern technologies gives an edge to the companies who manage both residential and nonresidential real estate for landlords/property owners. If you are in the real estate property business, it is essential to invest in the best real estate property management software to re-address your property business and to put your business in the best position, which can bring success and long-term growth.

Real-estate property management software is a modern system that infiltrates the property management sector allowing users to adapt to a more strategic and systematic approach with automation.

Some of the top real estate property management software offers mobility where users can be on the go and have the facility to access a variety of capabilities right from mobile devices.

To gain improved performance, develop a more customer-centric approach, and have enhanced real-time communications, the best real estate property management software is the right solution.

This buyer guide on real estate property management software is specifically designed to assist property owners and managers with insights on various aspects of real estate property management software.  It covers information that could be vital for property owners in selecting the best real estate property management software.  This buyer guide envelops real estate property management software features, benefits, future trends, security, cost, and much more.

What Are the Common Challenges of Real Estate Property Management?

  • Unexpected maintenance costs: Real estate property owners or dealers have to ensure that their property is well maintained and remains in good shape during its life cycle. However, tracking every minute detail about the property is quite challenging, and any unnoticed flaws in the construction could lead to unexpected maintenance costs. Unexpected maintenance costs can consume more resources and it could add up as extra expenditure to the real estate property business owners.
  • Manage tenant’s complaint: Landlords or property managers can find it difficult to track all the complaints. With multiple properties to manage, the tracking and responding to these complaints become confusing.
  • Rent contract management: Filing and managing contract documents is a tedious task, and it gets complicated when there are multiple tenants to manage. Landlords have to deal with various tasks related to contract management such as contract renewal, updating legal clauses, obligations upon termination, etc. The room for errors increases with manual contract management, which can lead to disputes between property owners and tenants.
  • Time management: Whether tracking maintenance work or boarding new tenants, the property owners usually struggle in finishing the tasks on time. The conventional method for property management is highly unorganized. It can take more time for landlords or property managers to accomplish tasks.

These are some common challenges that property owners face in managing their real estate businesses. It is necessary that property owners adopt a practical approach to eliminate these issues and achieve operational efficiency.  Real estate property management software turns out to be a holistic solution for property owners and those in the real estate property management business.

What Is Real Estate Property Management Software?

Real estate property management software is a tool that is designed to assist property owners, property managers, and landlords in managing properties efficiently and streamlining communication between landlords and tenants. They can perform a wide range of activities with real estate property management software such as property inspection, maintenance, accounting, marketing, etc.  The overall idea of real estate property management is to increase the value of the property and smoothly conduct the rental property business.

Real estate property management software are usually used by,

  • Residential property owners/ managers
  • Commercial property owners/ managers
  • Real estate investment firms and REITs

Why Should Real Estate Businesses Use Real Estate Property Management Software?

There is a huge customer base for real estate business, but the property owners using conventional methods for managing their rental property business cannot take advantage of it.  This is because the tenants have become smarter in choosing the rental property; they visit property listing websites and scrutinize all the details before finalizing the rental property.  If the users are not registered to these listing websites, the landlords or property managers can lose a huge customer base. The best real estate property management software facilitates the listing of their property on websites efficiently.  Some real estate property management systems also facilitate the creation of their own listing website and market properties for free. 

The property management software also facilitates smooth communication between tenant-landlord and establishes a healthy relationship. Activities like; rental reminders, late fee notifications, community announcements, etc., can easily be automated with the best real estate property management software. .

Besides that, some real estate property management software allows to take control of the accounting by linking the owner’s bank account with the business, which makes it easy to record the transaction and bookkeeping.  The users can fetch any transaction information with just a few clicks. The centralized storage system of property management software enables users to store large volumes of data and retrieve any information in a few seconds. 

Real estate property management software can automate many manual tasks such as payment collection, contract renewal, maintenance reminder, tenant’s profile check, etc.  It can save a lot of time for landlords or property owners. The software also supports mobile apps, which further fast-paces the processes, such as online payment, reporting, submitting tenant’s applications, etc.

There are also cloud-based real estate property management software available in the market, which does not require any installation, and users can straight away leverage the benefits of real estate property management software.  

What Are the Benefits Of Real Estate Property Management Software?

Significant benefits revolve around the overall operation of the properties, including maintenance, rent/lease collection, trash removal, security, and all sorts of renovation activities. The following points in this section will discuss this in detail.

  • Customizable lease agreement templates: A lease agreement is a foremost document used by real estate agents or owners to avoid conflict with tenants. There are various forms of lease agreements, and it would be a tiresome job for owners to draft new agreements for the tenants. Property management software comes with customizable lease agreement templates.
  • Track leasing process: Real estate owners managing multiple properties find it difficult to track all their leasing processes all at once. Real estate property management software allows users to keep track of the lease agreement and see which tenants have received the lease agreement and who have signed the agreement. The top real estate property management software even permits tenants to sign the agreement online. It makes the entire leasing process fast and efficient.
  • Tenant’s background checks: Real estate owners do not want their tenants to have any criminal records or bad payment history. Top real estate property management software provides screening services to check the tenant’s background, criminal history, and eviction history.
  • Maintenance management: Real estate property owners can receive and respond to ongoing or new maintenance tasks through real estate property management software. If there is any critical repair that requires the property owner’s immediate attention, then, the tenants can submit maintenance tickets with images or video.
  • Transparency: The top real estate property management software provides tenants their own dedicated portals.  This portal allows tenants with various activities such as paying rent, submitting maintenance requests, viewing agreements, etc. It helps to build transparency and avoid conflicts between tenants and property owners. With mobile devices, these processes have become more rapid and agile.
  • Bookkeeping and accounting: Individuals involved with real estate business generally deal with substantial cash transactions. They have to keep their account upto date and ensure that they have a record of all their transactions. The real estate property management software has inbuilt accounting software that helps real estate business owners with bookkeeping and managing transaction details. It also reduces the admin work.
  • Better productivity: Managing everything, including work orders, maintenance jobs, accounting, could be complicated for real estate managers, but with real estate management software solutions, these can be done easily. By automating all the tasks, real estate professionals can achieve higher productivity.   
  • Centralized document management system:  Real estate property software provides users with a centralized document management system.  It protects confidential documents and files from getting misplaced or lost. It means an individual can avoid the delay and complication caused due to missing data. Besides that, it comes with solid security features and a data backup facility, which keeps data safe and secure.
  • Work order management: Top real estate property management software can assist property owners in conducting regular work and coordinating it with the internal staff. It helps to optimize the efficiency of resources.

These benefits are just an overview of what real estate property management software can do, but to check what it truly holds, the essential features of the software is the best way to find it.

Must-Have Features For Real Estate Property Management Software

  • Rent collection tools
  • Accounting software
  • Maintenance requests
  • Utility billing
  • Tenant screening services
  • Customizable online leases
  • Property inspection tools
  • Residential lease templates
  • Rent & vacancy tracking
  • Credit risk management
  • Task and activity calendars
  • Lead tracking and follow-ups
  • e-signature
  • Mobile app
  • Custom reports
  • Credit card payments

Things to Consider For Real Estate Property Management Software

  • Accounting features:  Accounting is an integral part of the real estate business, especially for those managing multiple properties.  So, it is essential to consider a real estate property management software that supports accounting features such as full general ledger accounting, online payment, revenue recognition, and management. If the real estate property management system does not have an in-built accounting feature, it should support the integration of third-party accounting tools.
  • Pricing:  One of the critical factors that can influence the decision of real estate owners on buying a software is pricing. There are numerous factors that can affect the pricing of the Real Estate Property Software such as software setup fees, customization, staff training, etc. Those in the real estate property management business should consider all these factors while purchasing the real estate property management software. Few software vendors have a tiered pricing model and offer free real estate property management software for basic features.  Users should perform a thorough analysis of such software offers.
  • Interactive dashboard:  Interactive dashboard can provide readers with quick access to vital information such as recent property listings, pending contracts, payments, cash flow, expenses, etc.  Most real estate property management software overlooks the dashboard features, but an interactive dashboard can make a massive difference in presenting information in a comprehensive way.
  • Technical support: Real estate management software solutions with robust technical support could have significant value from the user’s point of view.  They don’t have to worry about any sudden stoppage of business operations due to technical glitches.
  • Advertising: Top real estate property management software allows users to create a separate marketing website.  The feature allows users to customize the website with the company’s logo, theme, and content. It enables real estate business owners to market their property and project their brand to prospective clients.
  • Maintenance requests:  For real estate business owner’s maintenance is an ongoing process. The real estate property management software without maintenance ticket generation could fail in delivering a better customer experience and eventually end up losing business.
  • Check for Free Property Listings: Some real estate property management software allows owners or landlords to list their properties on famous property listing websites for free such as Oodle, Zillow, etc.  It advertises property to a large customer base and increases the business. Before buying the property management software, an individual should check the limit of the free property listing.
  • Customization: The customization feature can help to configure the software to business needs. The users should verify the level of customization that the real property management software provides; also, they should check for other hidden costs. 

How Secure Is Real Estate Property Management Software?

Real estate property management software is absolutely secure to use. 

Real estate property businesses deal with sensitive data of the clients which often become a soft target for hackers. The modern real estate management software comes with robust security features and encrypts this sensitive information for its safe delivery. The additional security features that the software provides are double factor authorization and permission-based access. The software also provides data backup, which can help to retrieve data if users lose the data. 

On the user end, they can also take a precautionary step to avoid cyber attacks. They can conduct regular audits and follow security guidelines to keep the system secure from cyber attacks. They should ensure that the property management software is accessed on secure Wi-Fi networks. The property owners can also train staff on how to identify and avoid cybersecurity threats or can even run a cybersecurity awareness program on a regular basis.

Real estate property management software is certainly increasing the real estate business efficiency, but new innovation in technology offers plenty of growth opportunities for property owners.  To stay ahead and to meet the demands of tomorrow, tap on the future trends in real estate property management software.  

Future Trends In Real Estate Property Management Software

  • 3D product visualization/ AR/VR:  In the future real estate business owners can use technologies such as AR/VR for rendering virtual tours of the property. Property buyers or tenants can visualize the property in 3D with all virtual furniture and set-up. It helps realtors to give a glimpse of property to potential buyers before it is ready for possession. It can boost property sales.
  • Blockchain technology: Blockchain distributed ledger can be used to record all operations related to property management.  It enables access to the property-related document in a secure environment that many current systems fail to provide.  The blockchain has an immutable record, which means there could be no room for manipulation or loss. The other features that could help real estate businesses are secure payment, smart property contracts, tracking transactions across the network, real-time data view, etc.
  • Predictive analytics:  Predictive analytics can be used in multiple ways, and there are real estate companies that are already using it in their organization.  They are utilizing it to find potential buyers from leads,  locate ideal properties for investment, and evaluate property damage due to water, fire, or other factors.  
  • IoT:  IoT sensors are transforming many sectors, and they could do the same for the real estate businesses. Rental property equipped with electronic equipment such as air-conditioning, heaters, and lighting can be controlled through IoT sensors. The property owners can track various utility consumption and their performance. If any outages are noticed, or tenants violate any rules, IoT sensors connected with various electronic items can directly inform the landlord or property owners about the incident.  It helps the landlord to keep their property facilities up to date. In the future, it can even be used with robots for property maintenance.

What Is the Average Cost of Real Estate Property Management Software?

The average cost of real estate property management software could be anywhere from $1/month to $400/month plus. There are various software tools available in the market for property management; the price of these software solutions depends on the features, deployment options, and the size of the business.

  • Real estate property management software for startups and small businesses:  Startups and small real estate property business owners have to plan meticulously to cut business operation costs and conduct business with minimum expenses. By aligning their business with the right IT solution, they can achieve this. The real estate property management software market is broad, and startups can easily find the real estate property software that keeps their expenses in control. Real estate property management software like Yardee Breeze comes at  $1/month,  Palace at a price of $1.75/month. There are few more real estate property management tools that could be cost-effective and useful for startups, and small businesses like  OnSite Property Manager, RentRedi, Property Manager Cloud, etc. Many software offer free trials and some offer free and open source versions too. 
  • Real estate property management software for mid-size and large scale businesses:  The mid and large-scale real estate business owners have to deal with many customers and their operation scale is massive. By using comprehensive real estate property management software, they can make their tasks simple and easy.  Easybroker at a price of $29/month is one of the top real estate property management software for mid-size and large-scale businesses. Some unique features that the tool offers include multiple listing systems, market analysis of properties, personalized support system, etc.  UnitConnect is another classic real estate property management at $34/month.  Unlimited users, unlimited storage, automatic reminders, online rent payment, and many other features give users the power to manage complex business processes. Both these tools offer a free trial. There are more real estate management software solutions that could prove productive for the users, such as Buildium, Realty Shine, Common Areas, etc. There are also high-end property management tools available for users who are inclined towards customization and advanced features such as e-signature, check scanning, sub-accounts, transaction history, etc.  Property Matrix at a starting price of $400/month is a premium real estate property management tool that provides an end-to-end solution for all the real estate-related activities. A good alternative to Property Matrix is Propertyware priced at $100/month. Their long list of features could well meet all the requirements of the real estate business owners.  Users can also consider premium tools such as iRent, RealtyWare, and Hive Properties.
  • Free and Open Source Real estate property management software: Free and open source real estate property management software gives users the flexibility to customize the software features without bothering about the development cost. The most significant advantage of free and open source real estate property management software. It is cheap and easily accessible, which makes it an ideal solution for startups and small businesses.

Why Refer to GoodFirms' List of Real Estate Property Management Software?

GoodFirms is one of the leading review and rating platforms for IT solutions helping business owners from various sectors to find the right IT product for their industry. GoodFirms has been following a robust review and rating process to list out software solutions and ensure that customers get access to the best software products. It gives detailed insights on various software solutions, which helps customers to make better decisions on software purchases. Customers can compare them on various parameters such as features, pricing, deployment options, and so on. . GoodFirms’ list of the best real estate property management software can be a one-stop solution for viewing all major real estate property software available in the market today.

Conclusion

Finding tenants, collecting rent, and maintaining the properties, are some common tasks associated with the rental property business. Managing these tasks could be challenging when the property owners deal with multiple properties and a higher number of tenants. To top this,  tenants have also become selective about the rental property service and facilities.  In order to keep pace with the evolving trend of the rental property business, to satisfy the customers,  and reduce the workload, the landlords have to tap on the latest technology, such as real estate property management software. The software provides an end-to-end solution from boarding the tenant till the termination of the contract.  If you are in the rental property business and want complete control over your business, then do not fail to check the list of top real estate property management software prepared by GoodFirms’ expert team.