Top Rental Property Management Tools
Property management involves many processes, from building maintenance tracking and expense management to tenant screening, tax reporting, and more. What follows are some useful resources for property managers:
- If you’re a first-time rental property investor, Zillow’s comprehensive “Landlording 101: A Rental Management Guide” is a great resource to gain a comprehensive overview of everything you need to know to make your investment a success. The information is divided into clear sections: Landlord Basics, Understanding Your Real Estate Investment, and Managing your Rental. It provides concise, to-the-point information about the basics, such as how to screen tenants online or perform market analyses. It’s a good idea to use this online guide in tandem with your property management software or app to make sure you’re covering all your bases… and not forgetting something crucial like tax documents or fire safety inspections.
- Buildium was created by property managers for property managers—and that shines through in its comprehensive features and resources, as well as its ease of use. Currently, more than 12,500 property management professionals and over 175,000 property owners in 46 countries use Buildium to coordinate a wide range of accounting, business operations, and leasing processes. Some of the features it offers include property accounting, financial reporting, company financials, online payments (for an additional fee), and maintenance request tracking. It provides portals for residents and owners, as well as tools for document management. It also offers features for rental listings, tenant applications, and—for an additional fee —integrates eLease and tenant screening. It can be accessed from your desktop, laptop, tablet, or smartphone. After a 15-day free trial, you can sign up for either a Core or a Pro subscription. The pricing depends on the number of units you manage. Note: Buildium has 4.5 stars (out of 5) with more than 400 reviews on Capterra’s Rental Property Management Software product listing.
- Propertyware is customizable property management software that allows property managers to be in control of the entire property management lifecycle. Designed specifically for single family properties, it allows you to perform all necessary marketing, property management, accounting, and maintenance tracking processes within one platform that you can access from your desktop computer, laptop, or mobile app. Users can reduce late payments by as much as 85 percent thanks to the online payment capabilities, save 16 hours per week on communications by using the owner and tenant portals, and reduce new tenant turn-around times to as little as 48 hours with automatic lease expiration monitoring. Propertyware has three subscription levels. Basic costs $1 per unit p/m with a minimum of $250 per month, Plus costs $1.50 per unity p/m with a $350 monthly minimum, and Premium costs $2 per unit p/m with a $450 monthly minimum. All levels have an implementation fee of twice the monthly subscription price. Overall, Propertyware scores high ratings for its comprehensive functionality and ease of use.
- Housters is a mobile app specifically designed for the on-the-go landlord and property manager both in the U.S. and abroad. Its features include tenant tracking, accounting, task management, reporting, alerts, a customizable form generator, and document management capabilities. It’s available for both Android and iOS. Housters offers a free three-month trial, after which the monthly subscription costs $1 per unit p/m with a minimum of $5 per month.
- Landlordy is an investment property management app for buy-to-rent real estate investors; private landlords; and property managers of small portfolios consisting of multi-family homes, apartments, vacation rentals. Its features include property and tenant tracking, rental payment management, business expense management, document management, and instant cash flow reports. It’s available for free for iPhone and iPad.
Remember: The features you need will depend on the size of your portfolio and types of rental properties you manage, so always remember to take advantage of free trials to see which solution(s) work best for you before investing in them.