What is Rental Property Management Software?
A rental property management software is a digital solution designed to assist property owners and managers in efficiently handling various tasks associated with rental properties. From tenant management to financial tracking, this software streamlines operations, saving time and effort.
Importance and Benefits
Utilizing rental property management software allows property managers to do their job more effectively and more efficiently. These tools streamline various tasks and even automates some repetitive ones. Here are some of the benefits managers can expect to experience when they adopt this type of software:
Efficient Team Management – Easily manage tenant details, leases, and communications in one centralized platform.
Maintenance Tracking – Keep track of maintenance requests and schedules in one place, ensuring timely repairs and tenant satisfaction.
Improved Communication – Enhance communication with tenants through built-in messaging features, fostering better relationships.
Key Features
It’s important to select rental property management software that comes with the features you need to optimize your business. Each platform comes with a unique feature set tailored for different types of managers. That said, there are still some key features that are essential to these platforms, such as the following:
Tenant and lease management
Rent collection and invoicing
Maintenance tracking
Work order management
Financial reporting and analytics
Integrations with other work and property software
Communication tools
Mobile capabilities
Choosing the Right Software
Selecting the right rental property management software is crucial for optimizing your property management processes. But since choosing the best software can be hard, here’s a breakdown of the different options featured above.
Rental Property Management Software | Free Version | Paid Plan | Mobile App |
SafetyCulture | Yes | $24/seat/month* | Yes |
Rent Manager | No | $1/unit/month** | Yes |
AppFolio | No | Contact vendor for pricing | Yes |
Guesty | No | $16/listing/month* | Yes |
DoorLoop | No | $59/month* | Yes |
Rentroom | No | $49.99/month | Yes |
Propertyware | No | $1/unit/month** | Yes |
Hemlane | Yes | $30/month* | No |
Buildium | No | $58/month | Yes |
Entrata | No | Contact vendor for pricing | Yes |
* billed annually** minimum purchase of at least worth $200/month