The 13 Best Rental Property Management Software Providers of 2024

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Property management can be a challenging and demanding job, involving a wide range of responsibilities and tasks. One of the most important responsibilities is dealing with tenants, which can be difficult as they may have different needs and expectations. Additionally, maintaining and repairing the property can be time-consuming and expensive.
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Financial management is also a major responsibility, as property managers must keep accurate financial records and manage the finances of the property.
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Overall, managing property requires a lot of attention to detail, good organizational skills, and the ability to handle difficult situations.

This is where property management software comes in handy. There is so much to deal with on a day-to-day basis in property management that it is almost a necessity to adopt software to help!

Property management software can help with many of the tasks and responsibilities involved in managing property. Some of the ways in which it can assist include:

• Automating rent collection: Many property management software programs allow tenants to pay rent online, and automatically track and record payments. This can save time and reduce the risk of errors.
• Maintenance and repair tracking: Property management software can be used to schedule and track maintenance and repair work, making it easier to ensure that the property is well-maintained.
• Tenant screening and selection: Some software programs include tools for screening and selecting tenants, such as credit and background check integration.
• Financial management: Property management software can be used to track income and expenses, generate financial reports, and manage budgets.
• Document management: Many software programs include tools for storing and organizing important documents, such as lease agreements, insurance policies, and maintenance records, making it easier to find and access the information you need.
• Compliance: Some software programs include tools to help property managers comply with laws and regulations, such as fair housing laws, health and safety regulations, and zoning laws.
• Communication: Property management software can also help with communication between tenants and landlords, whether it be through email or messaging, it allows for easy and organized communication.

Overall, property management software can help make many of the tasks and responsibilities of managing property more efficient and streamlined, allowing property managers to focus on other important aspects of their job.

With that, we have outlined what to look for in a property management software and compiled a list of the best property management software providers to help in your decision making process.

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What features should you look for in rental property management software?

When looking for software, you should determine what it is you need and what might be a “nice-to-have”. Some things that may we at Rentroom consider to be requirements include:

• Rent collection and payments: Look for software that can automate rent collection and payments, including online payments and recurring payments.
• Maintenance and repair tracking: Look for software that can help you schedule, track, and record maintenance and repair work, including the ability to generate work orders and invoices.
• Tenant screening and selection: Look for software that includes tools for screening and selecting tenants, such as credit and background check integration.
• Financial management: Look for software that can help you track income and expenses and generate financial reports.
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Meanwhile, there are some features that many property management software companies offer; however, they just may not get used or don’t fit into your business. A few of those examples might include:

• Budgeting tools
• Compliance tools
• Tax preparation
• etc.

It is important to find a software that fits your specific needs, so make sure to evaluate the features that are important to you and your business before making a decision.

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The 13 Best Rental Property Management Software

Yes, there are a lot of options for property management software. The market offers a wide range of software programs, with different features and pricing plans.
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There are many available options, including both commercial and open-source software. The options can range from simple, basic software to more advanced, feature-rich software.
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When considering a property management software, it is important to research and compare different options, looking at the features and pricing plans to find one that best fits your specific needs and budget.
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Also, it's important to note that some software might be specialized for certain types of property management, such as commercial or residential, so make sure to look for the one that fits your type of property management.

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Rentroom

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We have developed Rentroom to encompass every aspect of the property management business. Some of the features include:

• Rent collection: Rentroom offers an online rent payment system that allows tenants to pay rent through a mobile app.
• Maintenance requests: Tenants can submit maintenance requests through an online portal, and landlords can track the status of requests and assign them to vendors or maintenance staff.
• Lease management: Rentroom allows landlords to create and manage lease agreements, track lease expiration dates, and set up automatic lease renewal reminders.
• Financial reporting: Rentroom provides financial reporting tools that allow landlords to track income and expenses, generate income statements, and produce detailed financial reports.
• Accounting integration: Rentroom integrates with several accounting software such as QuickBooks, and allows landlords to track financial transactions, create invoices, and generate reports.
• Communication tools: Rentroom allows landlords to communicate with tenants through email and text messaging, and also allows tenants to communicate with each other and with landlords through a community portal.
• Tenant screening: This allows landlords to run background checks, credit checks, and eviction history checks on potential tenants.
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Rentroom is priced affordably - starting at $75/mo. Included in this price is:

• Free onboarding
• Unlimited support/Zoom calls
• A dedicated account manager

Rentroom truly puts a big emphasis on customer support and training, making it one of the best options on the market today. You'll notice there is a lot of feature overlap between property management software; however, the service and support are where things begin to differentiate.

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Interested in learning more about Rentroom? Book a free demo here!

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Buildium

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‍Buildium is a cloud-based property management software that provides a wide range of features for landlords, property managers, and property owners. Some of the key features include:

• Rent collection and payments: Automates rent collection and payments, including online payments, recurring payments and ACH payments, also allows for late fees and other charges.
• Financial management: Includes tools for tracking income and expenses, generating financial reports, creating budgets and forecasting future income. It also allows for managing multiple properties and bank accounts, generating invoices, and tracking payments and balances.
• Maintenance and repair tracking: Allows to schedule and track maintenance and repair work, including the ability to generate work orders and invoices, and to assign tasks to vendors and contractors.
• Tenant screening and selection: Includes tools for screening and selecting tenants, such as credit and background check integration, also allows for creating and storing tenant files, and tracking lease agreements and renewals.
• Communication: The software allows for communication between tenants and landlords, whether it be through email, messaging or other means.
• Document management: Includes tools for storing and organizing important documents, such as lease agreements, insurance policies, and maintenance records.
• Compliance: Includes tools to help property managers comply with laws and regulations, such as fair housing laws, health and safety regulations, and zoning laws.
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In terms of pricing, Buildium offers several different plans, including:

• A free plan that allows users to manage up to 10 units
• A basic plan that starts at $50 per month for up to 50 units
• A professional plan that starts at $95 per month for up to 100 units
• A business plan that starts at $150 per month for up to 200 units
• An enterprise plan that starts at $300 per month for over 200 units
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The pricing plans also include a number of add-on options and features such as a website builder, tenant self-service portal, and integration with other third-party software, which can be added for an additional cost.
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It's also worth noting that Buildium offers a free trial for their software, so you can test the features before committing to a plan.
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Buildium, like any software, has its pros and cons. Here are some of the cons that some users have reported:

• Limited customization options: Some users have reported that the software does not allow for a lot of customization, and that it is difficult to tailor the software to their specific needs.
• Some users reported that the support service is not always as responsive as they wish.
• Some users have reported that the user interface can be difficult to navigate, and that it takes some time to learn how to use all of the features and functions.

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RentRedi

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RentRedi is a property management software designed for landlords and property managers. Some of the features it includes are:

• Tenant screening
• Rent collection
• Maintenance requests
• Lease management
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Pricing for RentRedi starts at $12 per month.
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Pros of RentRedi include:

• Affordable pricing
• Multiple payment options
• Automated rent collection

Cons of RentRedi include:

• Self-service support.
• Reporting is incredibly limited.
• Limited integrations with other software.
• Some users have reported technical issues.
• Some features are only available in the higher-tier plans.

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‍Appfolio

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AppFolio is a very popular choice for property management companies. Some of the features it includes are:

• Tenant screening
• Rent collection
• Maintenance requests
• Lease management
• Financial reporting
• Accounting integration
• Online tenant portal
• Communication tools
• Marketing tools for vacant properties

Pricing for AppFolio is not openly disclosed on their website and it's based on the number of units and additional services desired.

Pros of AppFolio include:

• Comprehensive feature set
• User-friendly interface
• Good customer support

Cons of AppFolio include:

• No intergeations with accounting software. You are locked-in to using their in house solution
• Higher pricing compared to some other property management software
• Some users have reported technical issues
• Some features are only available in the higher-tier plans
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Rentec Direct

Rentec is a property management software that offers a variety of features to help landlords and property managers manage their rental properties. Some of the core features of Rentec include:

• Tenant screening and applicant tracking
• Online rent payments and automated late rent reminders
• Maintenance management and tracking
• Accounting and financial reporting, including income and expense tracking
• Marketing and leasing tools, including listing and advertising vacancies
• Communication tools, including email and text messaging
• Customizable lease agreements and forms

Pros of Rentec include its comprehensive set of features, ease of use, and the ability to automate many of the tasks associated with property management. Additionally, Rentec's customer support is generally well-regarded.

Cons of Rentec include that this software is on the older side. Also, some users have reported that the software can be slow to load at times.

Pricing for Rentec starts at $45 per month, and increases with the number of units managed and the level of service desired. There is also a free trial available for landlords to test the software before committing to a subscription.

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Rent Manager

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Rent Manager is a property management software designed for landlords and property managers. Some of the features it includes are:

• Tenant screening
• Rent collection
• Maintenance requests
• Lease management
• Financial reporting
• Accounting integration
• Online tenant portal
• Communication tools
• Marketing tools for vacant properties
• Work order management
• Inventory management
• Mobile access

Pricing for Rent Manager is not openly disclosed on their website and it's based on the number of users/units and additional services desired.

Pros of Rent Manager include:

• Comprehensive feature set
• User-friendly interface
• Good customer support
• Highly scalable

Cons of Rent Manager include:

• Difficult to learn
• Desktop application
• Higher pricing compared to some other property management software
• Some users have reported technical issues
• Some features are only available in the higher-tier plans.

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Hemlane

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‍‍Hemlane is a property management software designed for landlords, property managers and real estate investors. Some of the features it includes are:

• Tenant screening
• Rent collection
• Maintenance requests
• Lease management

Hemlane pricing is transparent, it starts with a free plan, and paid plans starting at $30 per month. The paid plans offer more features and the ability to manage more properties.

Pros of Hemlane include:

• Good customer support
• Automated rent increases and late fee charges

Cons of Hemlane include:

• Limited features compared to other property management software
• Some users have reported technical issues
• Some features are only available in the paid plans
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TenantCloud

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TenantCloud is a property management software designed for landlords and property managers. Some of the features it includes are:

• Tenant screening
• Rent collection
• Maintenance requests
• Accounting integration
• Document management
• CRM

TenantCloud pricing is flexible and offers a free version and paid plans starting at $12 per month. The paid plans offer more features and the ability to manage more properties.

Pros of TenantCloud include:

• Affordable pricing
• User-friendly interface
• Available in multiple languages

Cons of TenantCloud include:

• Limited features compared to other property management software
• Some users have reported technical issues
• Some features are only available in the paid plans
  
  

Yardi

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Yardi is a property management software that offers a wide range of features for landlords, property managers and real estate investors. Some of the key features include:

• Marketing tools for vacant properties: Yardi provides marketing tools that allow landlords to create and publish listings, track leads, and view analytics on their listings.
• Work order management: Yardi allows landlords to track the status of work orders, assign vendors, and view work order history.
• Inventory management: Yardi allows landlords to track inventory, assign equipment, and view inventory history.
• Mobile access: Yardi provides mobile access for landlords and tenants, allowing them to access their account information, pay rent, and submit maintenance requests from their mobile devices.
• Document management: Yardi allows landlords to store and access important documents, such as lease agreements, insurance certificates, and maintenance records, in a centralized location.
• Marketing and leasing tools: Yardi provides marketing tools to help landlords promote their properties and attract new tenants.
• CRM: Yardi includes a customer relationship management system that allows landlords to track leads and communicate with potential tenants.
• Business Intelligence and analytics: Yardi provides a variety of analytics and business intelligence tools to help landlords make data-driven decisions about their properties.

Yardi is generally considered a robust and comprehensive software solution, but as with any software, it may not be the best fit for everyone. It can be complex to implement and may require significant training and support to get the most out of it. Additionally, the pricing can be high compared to other solutions.

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SimplifyEm

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SimplifyEm is a property management software designed for landlords and property managers. Some of the features it includes are:

• Tenant screening
• Rent collection
• Maintenance requests
• Lease management
• Financial reporting
• Accounting integration
• Online tenant portal

SimplifyEm pricing starts at $25 per month and goes up to $1620 per month. It offers a free trial as well.

Pros of SimplifyEm include:

• Scalable

Cons of SimplifyEm include:

• This software very antiquated and old
• Difficult to navigate and learn
• Limited features compared to other property management software
• Some users have reported technical issues

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Innago

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Innago is a cloud-based property management software for residential properties. It includes features such as online rent payments, lease management, tenant screening, and maintenance tracking. It also provides a customizable dashboard that allows property managers to view and manage their properties, tenants and leases in one place.

Pros:

• Innago is free
• Innago is a cloud-based software, which means it can be accessed from anywhere and does not require any additional hardware or software to be installed.
• Customizable dashboard allows property managers to view and manage their properties, tenants and leases in one place.

Cons:

• No support, limited features, and slow.
• As with any software, there might be a learning curve associated with using Innago.

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Avail

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Avail is a property management software designed for landlords and property managers. Some of the features it includes are:

• Tenant screening
• Rent collection
• Maintenance requests

Avail pricing is not openly disclosed on their website and it's based on the number of units and additional services desired.

Pros of Avail include:

• User-friendly interface
• Automated lease renewal and rent increase
• Online rent payments and lease signing
• Credit check

Cons of Avail include:

• Limited feature set
• Some users have reported technical issues
• Some features are only available in the higher-tier plans

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Zillow Rental Manager

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Zillow Rental Manager is a property management software designed for landlords and property managers. Some of the features it includes are:

• Listing creation and management
• Tenant screening
• Rent collection
• Maintenance requests

Zillow Rental Manager pricing is not openly disclosed on their website, but it's generally understood that the software is offered as a subscription service with a monthly fee.

Pros of Zillow Rental Manager include:

• Integrates with Zillow's listing platform which can increase visibility of your properties
• Online rent payments and lease signing
• Credit check

Cons of Zillow Rental Manager include:

• More focused on the marketing aspect of the system
• Limited features
• Not a priory for the broader company

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Conclusion

To sum up, property management encompasses a plethora of tasks and responsibilities, such as managing tenants, maintaining the property, and keeping accurate financial records. These responsibilities require a high degree of attention to detail, organizational skills, and the capability to handle challenging situations. Property management software is a valuable asset for property managers, as it assists them in simplifying their work and managing the various tasks of property management with greater ease. Utilizing property management software allows property managers to stay organized, maintain accurate records, and effectively manage their properties.

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The property management software market is quite competitive and there are many providers offering different solutions for property managers. However, Rentroom is considered to be one of the best all-around solutions in the market, due to its comprehensive range of features and its ability to streamline the property management process. Rentroom's user-friendly interface, scalability, and customer support also make it a popular choice among property managers.

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