Property management is complex. The sheer volume of data and transactions to be processed necessitates the use of effective solutions such as property management software.
Real estate ERP software is used to manage rental housing, hotels, real estate builders, and any business that deals with property management.
Real estate ERP software must meet the needs of property owners and managers when it comes to managing their portfolios. The software helps achieve this goal by making sales and rental tasks easier.
The software functions as a virtual assistant, allowing users to manage properties and analyse a significant volume of data to run a profitable real estate business.
What Is ERP Software for Real Estate?
Real estate ERP software helps in keeping track of your real estate portfolio. It ensures complete control over your finances, prospects, sales, purchase, projects and engineering.
Real estate software is a big benefit for individual realtors and real estate firms that need to maintain track of their cash flow and provide individualised customer service.
List of 8 Most Popular Real Estate ERP Software
Buildium is a cloud-based property management solution. It enables managers of residential and association properties to control every aspect of their business. This real estate ERP software includes features for online rent and payment, vacancy management, maintenance cycles, and accounting.
Buildium automates the entire lead-to-lease cycle, including syndication, online lease applications, tenant screening, lease renewal, and online rent payment. The software comes with add-on modules like general ledger, automated rent and fee reminders, and on-demand reporting.
Features of Buildium
- Allows property managers to convert requests into work items and assign them to maintenance managers and staff
- Allows users Communicate progress updates and check work completion
- Buildium analytics enable property managers to track their company success in relation to market
- Offers open API allowing users to export critical data points to other business tools and systems
Pros of Buildium
- Easy to use: The software is simple and straightforward
- Assisted implementation: The vendor helps with software installation
- Single Dashboard: Allows the management of numerous properties from a single place
- Search: It’s easy to locate specific documents and functions
- Phone support: 24*7 customer support available
Cons of Buildium
- The reporting options are limited and there is no option to customise the reports
- Technical glitches at times
BrokerMint ERP for Real Estate
BrokerMint real estate brokerage software runs on the cloud, streamlines, and automates your real estate business. There will be no more manual commission calculations, data entry, or spreadsheets. It helps save time and money by avoiding costly mistakes.
You can use Brokermint’s transaction management, commission automation, accounting, agent management, reporting, and analytics modules. CRMs, MLS, QuickBooks, and Realogy Dash are the popular integrations available. With a browser or the Brokermint app, you can access your account from anywhere.
Suggested Read: Best Floor Plan Software for Real Estate Developers
Features of BrokerMint
- Agent management, transaction management, commission automation, accounting, and reporting
- Manage agent onboarding, ensuring that each agent’s file contains the required and relevant documentation and licencing
- Create unique commission structures to reward top performers
- Boost productivity by making and tracking to-do lists and collaborative projects
- Use e-sign capabilities to keep track of all contracts and documents
Pros of BrokerMint
- Easy to use: It’s user-friendly software that makes real estate management easier
- Simple to learn: Consumers face minimal issues while using this software
Cons of BrokerMint
- Unable to integrate with state-specific forms
- Cannot track emails sent to agents
For all property management professionals, RealSpace property management is the go-to product. The real estate ERP software allows you to effortlessly manage units, schedule and allot work orders and efficiently handle daily duties.
It improves customer connections, helps track the inflows and outflows of funds, and offers a variety of other advanced property management capabilities.
Features of RealSpace
- It allows agents and agencies to track leads in real-time and collect data about the client’s journey
- This ERP software is an effective tool for guiding buyers through the sales funnel and driving conversion
- Automates email, SMS, and social media posting
Pros of RealSpace
- Manage tenants: It is a one-stop solution to track personal contact information and manage tenancy contracts
- Accounts Management: Keep track of credit and debit transactions for the properties you manage, as well as any overdue invoices that need to be paid
- Property Manager: This property manager can record and track work orders, expenses, and complaints until they are resolved
Cons of RealSpace
- There is no way to export transaction and property files into acceptable forms
- For small businesses, this software is a bit expensive
Deskera is a cloud-based, all-in-one platform for accounting, payroll, CRM, and other tasks related to property management.
This real estate ERP software allows real estate businesses of all sizes to automate processes and meet the needs of their customers. The software can handle a massive customer base and ensure timely service.
Deskera is most suitable for manufacturing, distribution, trade, building, engineering, and construction industries. It focuses on three major areas: Nooks, Sales, and People.
Users can use Deskera to manage invoices, purchase orders, charts of accounts, custom fields, and online collections. It helps manage deal stages, roles, pipelines, and dashboards, as well as sales offer contracts.
Features of Deskera
- Reverse Incorrect Entries: Get alerts when entries are missing and reverse them to correct the errors in commissions and principles
- Organise Data: Create and display financial data such as journal entries, debit notes, costs, account charts, and deposits
- Enhance Cash flow: It provides complete visibility of your financial data so you don’t miss payments
- Managing Customers and Vendors: Deskera allows users to manage customers and vendors and build stronger partnerships
Pros of Deskera
- Customer Engagement: Connect with your customers with targeted messaging at every stage of the sales funnel
- Contact Management: Gather information and plan outreach to drive higher conversion
- Orders and Sales: Users can manage the entire order and sales cycle from quotation to payment using the interface and document flows
- Reports: It enables tech-enabled inventory and invoicing management, with financial, accounting, and decision-making reports
Cons of Deskera: A steep learning curve
Elinext Real Estate ERP Software
Elinext is a customizable ERP solution for real estate businesses. It is an enterprise resource planning (ERP) system that assists businesses in managing large volumes of data. Through Elinext, you can create new custom ERP systems or integrate third-party software to meet your company’s specific requirements.
Features of Elinext
- Meeting specific business requirements with customised modules.
- Sales and transaction module
- Property bank systems and agent management platform
- Smart maintenance of properties and handling of sales
- Real-time invoice processing
Pros of Elinext
- Increases ROI: With streamlined sales and marketing processes
- Performance management: Manage your real estate agents’ performance, no matter where they are located
- Improves decision making: Make thoughtful business decisions based on precise analytical data
- Finance analysis: Analyzes cash flow, profit and loss data for smart financial insights
Cons of Elinext
- Implementation takes a little longer
- Higher procurement and update costs
The most widely used cloud-based accounting software in India is AlignBooks. It’s a one-stop solution for all your company needs. Accounting, inventory, billing, HR/Payroll, POS, CRM, job tasks, and production management can be done online. It’s user-friendly and cost-effective and is available on both mobile and desktop.
AlignBooks online business accounting software is created specifically for small and medium businesses, Chartered Accountants, professionals, and business executives.
- Asset Management: Using the purchase module, you can purchase assets and manage them by assigning serial numbers
- Discreet Production: Depending on the actual requirements of the production, generate issue requests and assign raw material to the production floor
- Advanced HR and Payroll: Define wage components, leave dependencies, tax implications, and calculation of other components in a simple and flexible way
- Intelligent Billing and Sales: Manage outstanding lump-sum and bill-to-bill payments, receive automatic reminders of overdue invoices and undertake bill-based ageing analysis
- Diverse pricing plans: Evaluate a wide range of software options to find the best fit for your company
- Expert Advice Available 24×7: Get help to use this software uninterruptedly
- Proper assistance: There are specialists available to assist you with various use cases to ensure you make the most of this software
Cons: Not available on iOS.
TYASuite cloud-based Enterprise Resource Planning (ERP) system allows organisations to keep track of sales orders, vendors, projects, and inventories all in one place.
It allows users to automate the entire procurement process, from optimising purchase requisitions (PRs), safety stocks, and lead time to processing invoices and payments.
Owners can map vendors to match products or services, review agreements, upload vendor onboarding documentation. It tracks their performance based on delivery dates, rejections, or quantity shortages using an integrated vendor management system (VMS).
Managers can create tasks using built-in templates, assign them to team members, establish due dates, and check project progress in real-time using the project management module.
- Better business intelligence: Remote access to all data stored in a single location, with no duplication, paperwork, or manual mistake
- Capital investment savings: With free updates on our cloud-based SaaS ERP, you can avoid the high capital needs of regular maintenance and updates
- Flawless data security: This AWS-hosted cloud ERP provides the highest level of security with zero downtime
- Fast implementation: Its plug-and-play ERP features are simple to set up, and the system can be up and running in just seven days
- Quick and easy: TYASuite is simple to set up. You can customise this ERP to meet your specific requirements
- User friendly interface: It has a user-friendly interface that helps reduce manual involvement
- Enhances management efficiency: This software improves requisition and optimises purchase processes
- Certain features were lacking for contacts management
- Minor troubles and bugs
Orion Enterprise is a dynamic enterprise resource planning solution from 3i Infotech that enables enterprises to combine different teams, functions, processes, and systems with ease.
Orion ERP is a cloud-based, comprehensive, and cost-effective industry solution for expanding and mid-sized businesses. It helps enterprises optimise business processes and make informed decisions with quick access to dashboards and analytics.
Features of Orion Real Estate ERP Software
- Customer management, pricing, sales & incentives, targets & allocation, and demand forecasting are all handled by the software
- Includes finance management module for account management
- Supply chain management, procurement, planning and budgeting
- Vendor management, and dropshipping are all parts of the software
- Includes contract management module for workforce management
- Hardware monitoring can be used to monitor over 4,000 servers
- Network monitoring is mostly for a big, siloed organization, because of the functionality provided
- Application monitoring has various functions you can experiment with
- To execute fundamental operations, you’ll still need other tools
- It doesn’t perform MSAs or SOWs; instead, they simply accept the EULA and pay for the goods
FAQs on Real Estate ERP Software:
What is ERP in real estate?
Real estate ERP software is an excellent tool for keeping track of your real estate portfolio. By using this software, you can ensure that all your data is visible and that you have complete control over your business processes and people.
What is the best commercial real estate ERP?
DoorLoop, RealPage Commercial, Total Management, AppFolio are some of the best commercial real estate ERP.
Which is the best ERP software for the construction industry in India?
The best ERP software for the construction industry in India are Dynamics 365 Business Central, StrategicERP, Real Builder and Bhoomi etc.