Top 54 Property Management Software (Jun 2024)

Property Management Buyer's Guide

Overview

Property Management software is designed to help businesses and real estate professionals manage residential, commercial, and other types of properties efficiently. This software automates various tasks such as rent collection, lease tracking, maintenance scheduling, and financial reporting, thereby streamlining property management processes.

Main Features

Key features of Property Management software include tenant and lease tracking, rent collection, maintenance management, accounting and financial reporting, document management, online portals for tenants and owners, and communication tools for landlords and tenants.

Main Business Processes the Software Apps can Help With

Property Management software can assist businesses with various processes such as property marketing and listing, tenant screening and onboarding, lease management, rent collection, maintenance and repair management, financial management, reporting and analytics, and communication with tenants and property owners.

Steps on How to Buy Property Management Software

1. Identify your business needs and goals for implementing Property Management software. 2. Research different software vendors and compare their features, pricing, and customer reviews. 3. Request demos from shortlisted vendors to see the software in action and ask specific questions about your requirements. 4. Consider scalability, integration capabilities, and customer support options before making a decision. 5. Negotiate pricing and contract terms with the chosen vendor before finalizing the purchase.

Things to Consider

When buying Property Management software, consider factors such as the size and type of properties you manage, the number of units, your budget, integration with existing systems, ease of use, training and support provided, and scalability for future growth.

Popular Vendors and Market Share

Some of the most popular Property Management software vendors include Yardi Systems, RealPage, AppFolio, Buildium, and Rent Manager. According to recent market research, Yardi Systems and RealPage hold significant market share in the industry.

Trends and Future of Property Management Software

Current trends in Property Management software include the integration of AI and machine learning for predictive analytics, mobile app development for on-the-go management, and enhanced cybersecurity features to protect sensitive property data. The future of this category is likely to see further automation, customization, and innovation in user experience.

10 Questions to Ask Software Vendors During a Demo

1. How does your software handle rent collection and late payments? 2. Can the software automate maintenance requests and work orders? 3. Does the system offer online portals for tenants to submit maintenance requests and payments? 4. How does the software handle accounting and financial reporting for properties? 5. Can the software integrate with other systems such as accounting software or CRM? 6. What security measures are in place to protect sensitive property and tenant data? 7. Does the software provide customizable reporting and analytics features? 8. How is training and customer support handled for new users? 9. Can the software scale to accommodate a growing number of properties or units? 10. What are the pricing options and contract terms available for the software?

Head to head Property Management software leaders comparisons:

List of Property Management Software:

Property Management Software Price Range

Property Management software has subscriptions whose price points are within $10 and more than $100 a month. Some of the software vendors also include additional charges such as API access, installation fees, implementation service, and training. The price model is typically in per month/unit format, but the vendors can state other models in their pricing. Some of the analysis of Property Management software are as follows:

• Small businesses can expect to pay between $0 and $55 a month for Property Management Software products. For example, Hemlane Basic plan goes for $37 a month for each unit, Propertyware pricing starts at $250 per month and Buildium for $50 monthly. Furthermore, FantasticStay is free, with another Pro plan, which goes for $55 a month. TenantCloud has a Standard subscription that costs $9 a month, with an advanced plan which costs $35 per month.
• Medium-sized companies would have to pay up to $1000 a month for Property Management Software units. For illustration, TOPS ONE pricing starts at $350 per month, PayHOA Professional cost price at $150 a month, and Storage Commander Cloud pricing goes for $80 monthly. Other vendors charge one-off licenses for their products, an example of such vendors are SKYLINE software, which costs $1000. iRent begins at $200 per month and Spacebase at $400 monthly. Bluebox Modules for the USA and other countries cost $360 a month, and Cirrus8 pricing goes for $450 a month.
• Large corporations can expect to pay up to $7500 for Property Management Software products. Re-Leased pricing, for instance, goes for $7500 a year, PropertyMe Pro plan can reach up to $6600 per month for multiple properties, and PropertyTree Premium Plus for $1200 a month.

Some of the best of breeds have individual pricing as well, and the analyses are as follows:

• Apartment Management systems Users can expect to pay between $1 and $129 a month for this software. For instance, ComVibe Pro pricing starts at $1 a month, ADDA ERP at $2 per month, and ClientLook at $129 monthly for each user. Rentredi Monthly plan costs $20 a month, with 3-month and Annual plans going for $15 and $9 per month, respectively. Other vendors charge annually, such as RISSOFT, whose non-cloud based subscription costs $750 a year for one user, and its cloud-based plan going for $1,850 annually. NestEgg pricing starts at $5 per month and Landport at $45 a month.
• Lease Accounting Software Lease Accounting Software products generally have prices that fall within $50-$300 a month. For instance, iLeasePro has a cost price of $50 per month, ZenTreasury pricing starts at $99 a month, and InfoSite pricing goes for $300 a month. Also, some Lease Accounting software has one-time license charges; for instance, users can outrightly purchase UGAAP for $3600, and Lease4000 for $7,000.
• Self-Storage Software Self-storage software products typically fall in the price range of $0 to $50 per month. Users can have Unit Trac from 50 cents a month for each unit. Other vendors include 6Storage, which has a starting price of $30 per month for each facility; Yardi Breeze, which costs $1 monthly, and Easy Storage Solutions Software, which goes for $29 a month. Furthermore, Self-Storage Pro charges annually, at the rate of $105 per year.
• Rental Property management Software These products have cost prices that could be up to $210 monthly. TheHouseMonk, for instance, has a variable cost price that starts at $210 a month for a maximum of 175 units; PropertyZar has a Basic plan which starts at $25, and a Standard and Enterprise plan which users can get for $45 and $130 respectively.
• Commercial Property Management Software CPM software products have prices that lie within $0 and $179 a month. For illustration, Total Management has a cost price of $1 a month for each unit, Soft4RealEstate pricing starts at $179 per month and UnitConnect for $34 monthly. Users would have to pay $350 a month for PropertyMatrix, and $250 monthly for Yardi Voyager Property Management. Also, PropertyTree has its pricing starting at $129 monthly and AppFolio Property Manager at 80 cents a month per unit.