The lines between hotels, short-term rentals, and multi-family properties are officially blurred. With brands like Sonder and Selina redefining the category, this combination of hospitality and multifamily has been a pre-pandemic trend that’s only accelerating.
As property owners explore new income streams, longer stays are becoming more attractive. After all, apartments are really just limited service hotels that you can stay in for a very long time! Real estate management software is available in a number of different formats.
Best for large property owners (50+ units) Property Manager App Folio
AppFolio provides comprehensive property management so you can run your entire real estate business in one place. The Standard Edition includes marketing, maintenance, accounting, rental and leasing management, as well as online payments and customized training. The Plus version adds advanced performance insights, configurable workflows, data export, and revenue management tools.
Pros: Improved mobile experience for tenants, from ordering to submitting maintenance requests online through an online portal; The AppFolio call center can record after-hours maintenance calls, dispatch to vendors, and activity. A mobile app for property managers that works anywhere and has the same data and reports as the desktop version.
Cons: A single system approach means you can’t integrate other systems and customize your technology to your needs.
Cost: AppFolio costs $1.25 per residential and $1.50 per commercial unit per month, with a minimum monthly fee of $250.
Buildup’s property management software designed to handle everything property managers need in accounting, operations and leasing. For the back office, there are property accounting and financial reporting as well as rental listing management and tenant apps. For the front office, there is a portal for residents with maintenance requests as well as rental management and documentation.
Pros: Designed to fit your business. Those who manage more than 100 units can customize it with specific jobs. Works on equipment; Powered by RealPage.
Cons: Additional fees for plan payments, e-leasing, inspections and property inspections
Cost: $99 setup fee plus: Basic plan starts at $50 per month for up to 20 units and $160 for Growth plan (up to 20 units). The unit cost is over 20 units based on the work required.
Of all the property management tools we reviewed, YardiBreeze is a look cleaner and more brittle (along with Hamlin and Avill). Its modern feel is ideal for tenants who value a well-designed experience that works well on their computer and mobile device. Tenants can sign leases, manage orders and pay rent online, while property managers can access property management tools on the go on any device.
Pros: All the features you need to manage your property, accessible through a simple and modern interface on desktop and mobile web; CRM to automate follow-up processes; Breeze Premier Edition includes job cost tracking, corporate accounting, and CRM to increase marketing efficiency. There is no setup fee.
Cons: Fewer customization options; There is no standalone application.
Cost: Starting at $1 per residential unit and $2 per commercial unit, with a minimum monthly cost of $100 per residential unit and $200 per commercial unit.
Perfect for commercial real estate
TRIRIGA Real Estate Manager for IBM
IBM integrates its Watson AI into TRIRIGAI, a full-featured property management platform. From energy management and maintenance to space optimization and rent calculation, this software is ideal for large buildings with strong space and staff management needs.
Pros: Highly integrated solution combines Wi-Fi, IoT, and AI to give property managers complete visibility into high- and low-use spaces. It not only helps to improve the exterior appearance, but also keeps the occupants safe.
TRIRIGA is an enterprise-level product with an enterprise-level price. This is only for those with the strongest property management needs.
Cost: Custom deployments based on property needs.
The Property Management Program at MRIA is a comprehensive solution for managers in both residential and commercial real estate. The platform includes both front and back office functionality, and integrates accounting and analytics with comprehensive tenant management.
Pluses: Automation of complex lease calculations for commercial real estate owners; Offers an online portal for tenants and residents. Easy integration between proprietary and third-party solutions, including seamless integration between other MRI software; Global Offices means Global Support Teams;
Cons: You may pay for features you don’t use.
Cost: Cost varies according to usage.
Perfect for small property owners Hamlin
The comprehensive rental management platform for Hamlin is designed specifically for property owners of 1 to 100 units. Owners and property managers can advertise job vacancies, track applicants, screen tenants, manage leases, perform maintenance and accounting. Particularly useful is the high-end service (“Complete”), which connects out-of-town landlords with local rental agents and repairers to facilitate remote property management.
Pros: The simple design keeps the focus on functionality. The Service Professionals Network makes remote property management easy with 24/7 repairs in the United States. Offers country-specific leases through external partners. Automation, like late-face, saves time; There are no setup fees, and phone support for both managers and tenants.
Cons: No standalone application, less customizations, may not be the best tool if you plan to expand your business beyond 100 units. The maintenance format is not available in the base plan.
Cost: A small base fee of $34 then varies per unit according to service level: Basic $2.50 per unit, Basic $15 per unit and Complementary $40 per unit. Plus: 1 month free trial without credit card.
With a low-cost model, with no minimums, Rentec Direct is also of great value to small property owners. It’s a little less advanced than Hamelin, but it checks the boxes: background checks and checks, marketing tools, online file management, and full accounting functionality. There are two levels: Rentec Pro for property owners who manage their properties themselves and Rentec PM for those who manage on behalf of owners (and need trust accounting).
Pros: Inexpensive (and supported by the US); Makes it easy to collect rent online and collect rent in cash to landlords. A website dedicated to taking direct bookings; Includes a work order management system and a mobile app for tenants.
Cons: Reporting is not highly customizable and the design is a bit dated.
Cost: Starts at $35 per month for Pro and $40 per month for PM for up to 10 units, with additional cost per unit beyond 10 units.
The best value benefit
Avail It is a full-featured and well-designed platform for finding, screening and retaining tenants. Since it’s free for landlords, it’s no surprise that the company claims over 170,000 clients. On the free tier, landlords can compile listings, perform credit and forensic checks, accept rent payments online, track maintenance, and create state-specific leases. Paid features include next-day rental payments, exempt ACH fees, the ability to clone and reuse apps and leases, and a dedicated website.
Pros: The free tier includes all the features you need to manage your rentals, including rent customization and electronic signatures; easy rent payments; Tenant photos for maintenance requests; Customizable questions on rental requests.
Cons: The trade-off is that you will pay ACH
Cost: Free to us for unlimited units with premium features available for $5 a unit per month.
For a hand-crafted property owner, the TenantCloudForever Free category includes basic functionality for up to 75 units. This includes the ability to track rental information,. Accept and send payments, manage leases, perform maintenance, and tenant communications. As well as track insurance and import/export data. Priority support and QuickBooks integration are among the features upgraded in the latest version.
Pros: The price is cheap, the free package includes many functions. printable reports on request; Apple and Android applications.
Compared to other options, this doesn’t offer as many features. Minimal integrations and customizations.
Cost: Free tier with functionality limited to 75 units; It is $9 per month for the standard plan and $35 per month for the advanced plan.
Perfect for a family Property
Focus Property Ware exclusively on single-family homes, from those operated by small property managers to those owned by institutional investors. This includes tenant and landlord portals, payments. Maintenance, marketing, and tenant screening. There is also a call center that can augment the leasing. Management and maintenance teams.
Profession: Text messaging with tenants, landlords and sellers; Part of the Rampage family, which means more stability than startups or small businesses; powerful customization options, such as custom fields and reports; built-in automation around tasks, reports and fees;
Cons: Not ideal for multiple families or apartments, which may limit the ability to support expansion into other property types. Excessive enforcement costs
A monthly fee of $250 plus $1 per unit is charged with a maximum of $450 per month plus $2 per unit. There is also a processing fee that is double the monthly subscription price.