Summary: Rental property management software can assist you in screening and managing tenants, managing their maintenance requests, recording all expenses and revenue, and more. Let’s find out about top property management software that you can use to manage your rental properties.
Property management software plays an important role in streamlining and optimizing the tasks associated with real estate assets. From efficient rent collection, lease tracking to maintenance scheduling and financial reporting, the software enhances operational effectiveness, minimizes errors, and delivers valuable insights for property owners and managers.
In this article, you will learn about some of the top rental property management systems to manage your rental properties.
Our Methodology in Selecting the Best Property Management Software
Rental house management software examples that we have considered in this article offer a wide range of features. Some of them are suitable for small landlords and some for big enterprises that have multiple properties.
To help you choose the right property management software, we have compared them based on their features, pricing plans, pros and cons, etc. In addition to that, we have also looked at their best features and usability to help you make the right choice.
Types of Rental Property Management Software
There are different types of property management software, which differ in terms of key features. There is unique software for managing accounting tasks, marketing your rental properties, managing lease properties, etc. Let’s learn about these software options in detail below:
- Property management accounting software: This type of software helps with automatically generating invoices after payment, tracking expenses, recording rent collection, etc.
- Property Management Marketing Tools: These tools help in advertising your properties on professional listing sites or creating your own website to list your rental properties.
- Property Lease Management Tools: Property lease management software helps you in creating and managing lease clauses, visualizing lease property portfolios, marketing lease properties, etc.
Top Property Management Software in India
Here is the detailed enumeration of top rental property management systems that you can use for handling everyday operations of your rental properties. The list highlights software features, pricing details, pros and cons, etc.
1. Buildium: Best for maintaining property bookkeeping
Buildium is a property management software that helps property managers and landlords with rental property management, accounting, leasing, and maintenance. It offers tools for online rent payments, tenant communication, financial reporting, etc. Its main purpose is to simplify the management of residential and commercial properties.
Features of Buildium
- Creates a free website to manage your properties
- Collects rental payments via online mode
- Manages all lease properties at one place
- Manages rental property maintenance requests from tenants
Buildium Pros and Cons
- You can easily create and share rental listings on your own created website.
- It lets you e-file 1099 form directly via the software portal.
- The software hangs a lot while processing payments.
Buildium Pricing
No free plan available | Paid plan starts from INR 4,580.29/month
2. TurboTenant: Best for screening tenants and collect payments online
TurboTenant property management software assists landlords and property managers in managing their rental property process. With it, you get features like marketing rental listings, screening potential tenants, and managing lease agreements. It can also be used for managing online rental applications and conducting tenant background checks.
TurboTenant Features
- Manages different property types like townhomes and apartments
- Posts unlimited property listings on the software
- Provides tenant screen reports for background checks
- Sends automated reminders for late payments.
TurboTenant Pros and Cons
- This software can automatically sync payments for bookkeeping.
- It supports e-signature to sign important documents directly from the software.
- Its real-time communication feature does not function properly.
Pricing of TurboTenant
Free plan available | Paid plan starts from INR 687.01/month
3. AppFolio Property Manager: Best for managing property lease
AppFolio Property Manager offers multiple tools and features to streamline different aspects of property management. It helps property managers and landlords in managing tasks like accounting, property leasing, property marketing, and maintenance. This rental booking software can also help you with online rent payments, tenant screening, financial reporting, etc.
AppFolio Property Manager Features
- Manages single-family, multifamily, commercial, etc., properties
- Supports corporate and property accounting
- Offers an online portal for residents to manage their account
- Streamlines communication with tenants via text and email
AppFolio Property Manager Pros and Cons
- It lets you create automated workflows to manage maintenance requests, work orders, unit turn board, etc.
- Provides AI leasing assistant to streamline tasks like data entry and scheduling property showings
- Loading data into the software takes a lot of time.
Pricing of AppFolio Property Manager
No free plan available | Paid plan starts from INR 116.57/unit/month
4. Rentec Direct: Best for listing your rental properties
Rentec Direct offers property management software for landlords, property managers, and real estate professionals. It comes with features like online rent payments, tenant screening, accounts management, lease management, etc. Rentec Direct aims to simplify property management tasks and improve communication between landlords and tenants.
Rentec Direct Features
- Manages complete ledgers for all properties
- Collects rent via ACH, credit card, electronic cash payments, etc.
- Offers tools to market your rental properties
- Automatically adds vacant properties to property listing sites
Rentec Direct Pros and Cons
- It offers a File Library feature to save and share documents with tenants.
- With it, you can easily sign important documents electronically.
- Sometimes, the users are logged out automatically.
Rentec Direct Pricing
No free plan available | Paid plan starts from INR 3,747.29/month
5. TenantCloud: Best for managing backend accounting and maintenance requests
TenantCloud is a cloud-based property management software that helps landlords and property managers streamline rental management tasks. It typically includes features for lease tracking, rent collection, maintenance requests, and communication with tenants.
TenantCloud Features
- Lists rental properties on various listing sites
- Automatically screens tenants’ applications
- Collects rent online via ACH payments, credit, debit cards, etc.
- Provides templates for creating lease documents.
TenantCloud Pros and Cons
- It offers a built-in document creator to create different document types.
- You get a designated payment portal to streamline payments for residents.
- The procedure to add bank details in the portal is quite complicated.
TenantCloud Pricing
No free plan available | Paid plan starts from INR 1,415.44/month
6. PropertyWare: Best for managing single-family homes
PropertyWare property management software assists property managers, landlords, and real estate professionals in managing their property portfolios. It can help you with rental property marketing, tenant screening, lease tracking, maintenance management, accounting, and so on. Moreover, with its fee management module, you can manage and save all fee related documents in one place.
PropertyWare Features
- Offers an application portal to manage tenants’ applications
- Provides AI based scoring on applicant financial health
- Streamlines and manages property maintenance tasks
- Supports real-time communication between tenants and landlords
PropertyWare Pros and Cons
- Supports integration with QuickBooks to streamline bookkeeping and accounting tasks.
- It lets you create unlimited financial reports like general ledger, income statements, profit and loss, etc.
- Its built-in search engine is not very intuitive.
Pricing of PropertyWare
No free plan available | Paid plan starts from INR 83.27/unit/month
7. SimplifyEm: Best for managing tenants’ applications and screening
SimplifyEm rental management system provides tools for managing rental properties, tracking income and expenses, handling maintenance requests, and generating financial reports. SimplifyEm aims to simplify the management process for individuals overseeing residential and commercial rental properties.
SimplifyEm Features
- Collects rental payments via online mode
- Manages tenants and lease information
- Offers AI based tenants finding and screening
- Manages rental applications in a centralized repository
SimplifyEm Pros and Cons
- You can list your rental properties directly on the software.
- With it, you can create an online lease form for your applicants.
- You need to re-login into the software if the window crashes.
SimplifyEm Pricing
No free plan available | Paid plan starts from INR 2,914.14/month for managing 10 units.
Which Property Management Software Should You Choose?
If you are a property owner, then using property management software can be of great help. From screening tenants, managing lease to collecting rent, and communicating with residents, every operation can be streamlined via this software. In this article, we have listed some of the best software based on their features, pricing, pros and cons.
Based on this comparison, Buildium, TurboTenant, AppFolio Property Manager are the top choices because they are budget friendly and offer good property management features. However, do consider your requirements before investing in any of them.
FAQs
What are the best free property management software for small landlords?
Some of the best free property management software for small landlords include TenantCloud, Rentec Direct, Buildium, Propertyware, SimplifyEm, etc.
What is a rental property management system?
A rental property management system is used for managing operations of hospitality accommodations, commercial, and residential rental property. It is also used for listing rental properties, screening potential tenants, and managing lease documents.
What apps do landlords use?
Landlords use a rental management app to streamline and manage the operations of their rental properties. These apps help them with collecting property rent online, managing residents' maintenance requests, sending them late rent payment reminders, and so on
Do I need rental booking software?
Yes, if you have commercial and residential rental properties then you can use this software to manage your bookings. Some popular choices include Buildium, AppFolio, Rentroom, Rentec Direct, etc.
What is the goal of a property management system?
The goal of property management system is to help landlords manage their everyday property operations. These operations might include communicating with residents, collecting payments online, screening tenants, managing their portfolios, etc.
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Written by
Varsha
Varsha is an experienced content writer at Techjockey. She has been writing since 2021 and has covered several industries in her writing like fashion, technology, automobile, interior design, etc. Over the span of 1 year, she has written 100+ blogs focusing on security, finance, accounts, inventory, human resources,... Read more
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