We have seen a tremendous change in the last 30 years in every industry due to technology, and the real estate industry is no different. Property listings are now available on the internet at a click of a button. We have seen a massive change in the industry due to proptech startups such as AirBnb.
The important question we need to ask ourselves is if there are any other opportunities brought by technology, we can take advantage of at the moment.
Introducing property management app.
With property management apps, you are able to track rent, vacancy, manage contracts and insurance, and maintain and organize payments.
Simply put– property management software helps you manage your properties with less effort and more orderliness.
A great thing about these apps is that it doesn't matter if you manage 5, 80, or 300 properties because, with the use of these software, you will remain organized and aware of what's happening at each.
Prince George's County property management company, Bay Property Management Group had this to say about the importance of these tools in the industry:
“The importance of property management software today can't be stressed enough. With a team like ours, which manages thousands of properties across multiple states, property management apps and software couldn't be more important. These tools save our team numerous hours a week, and it ultimately allows us to better serve our clients.” ~ Nichole, Shahverdi, Marketing Director
Now the issue is that there are so many property management app that it can get overwhelming to find the best one.
We decided to research these sites based on social presence, number of reviews, and SEO ranking and show you the best ones. One thing we want to mention is that the software are not in any chronological order (meaning number one is not necessarily better than number five.)
Here are the best property management software you can possibly find:
Top Property Management App System
1. Appfolio Property Manager by Appfolio
Appfolio property manager is a cloud-based property system made for real estate agents who want to monitor properties from anywhere, any time. It is one of the most favored property management software available on the market.
This app/software is very easy to operate, and the appfolio help center has fantastic customer support. One of the other pros of this software is that it allows you, among other things, to create professional websites for your properties.
Some users complain that the software doesn't have enough important features and that it is somewhat of a work in progress.
Appfolio charges $1.25 per unit, and $1.5 per unit for residential and commercial usage. For community associations, it is $0.80 and for student housing $1.25.
2. 360Workplace for Commercial Real Estate by Accruent
This software can be described as a suite of systems since it offers space management, facility management, lease administration, and construction project management. 360Workplace for Commercial Real Estate is ideal for people that are looking to manage real estate with more than just a single solution.
Users can monitor all essential aspects of their business, such as track vendor interactions, observe construction goals, ensure tax compliance, or even prepare your home for renting.
Note: If you're not yet using this app and want to know everything about preparing your home for renting, click here for more information.
This software is focused more on corporate real estate, so if you're a small business, it doesn't have to work as good for you, and you should probably look elsewhere.
There is no publicly listed pricing, but don't worry since you can contact Accruent’s customer support or schedule a demo.
3. Avail by Avail
Avail is a fantastic property management app that makes it easy for you to find tenants, and it has the features you need for each stage of the rental process.
The software works like this– once you publish a new rental listing with Avail, they will post your listing on various sites over the internet to accelerate the process of finding tenants.
This software is quite popular due to its features across many landlords. In fact, Avail has over 150 000 clients.
This software isn't so developed when it comes to property management. There are several basic features, but Avail made this software for more “DIY“ landlords.
One of its great features is that the basic plan is for free. The premium plan starts at $5/ unit per month, which can still be considered reasonable.
4.Property Operations Workspeed by MRI Software
Property Operations Workspeed has slightly under 3000 clients worldwide and focuses on business analytics, risk management, and visitor management.
If you're maintaining multiple properties, then this is the right solution for you since this real estate management software handles all the essential aspects of owning multiple properties. You may think that 3000 clients isn't a lot, but this software focuses on professional real estate investors with huge portfolios rather than on every landlord owning two rental properties.
We noticed that the biggest con of this software is its lack of customization, and since it's made for commercial real estate, you'll most likely have to rely on other MRI solutions if you're a small business owner with different types of properties.
Since this is a more professional software, the pricing isn't listed publicly.
5. Rentec Direct by Rentec Direct
Rentec Direct is a property management software for landlords with smaller portfolios. Apart from others, its features include online rent collection, tenant screening services, maintenance requests, accounting or even calculations on how expensive of a house you can afford. However, the calculation is more so a nice-sounding feature than a real useful one since this can be very easily figured out and is greatly explained in many articles available online such as this one.
The great thing about this software is that landlords with ten or fewer properties get a special free version, so if you're just starting out and want to use property management software, but don't want to spend money on it, this is the perfect choice for you.
The only con we found about this software is that, yes, it offers services for clients with up to 5000 units, but once you're on such scale, we recommend using more professional property management app.
The pro version of this software costs $1.2/ unit per month.
What's the best property management app?
It actually depends on what you need. The options that we showed you are just a few of the most popular property management apps out in the market right now. Before you choose one, make sure to weight the pros and cons of each app based on the number of listings you have, your budget for a property management app and ease of use.