As a landlord or property manager, the success of your business depends on the tools you have at your disposal. In today’s fast-paced rental market, choosing the right rental management software can make all the difference. With so many options available, it can be difficult to know where to start. That’s why we’ve compiled a list of the top 10 rental management solutions to consider in 2023.
Each of these software programs has unique features designed to help landlords and property managers streamline their operations, stay organized, and maximize their profits. From collecting rent and managing maintenance requests to marketing vacant properties and screening tenants, these programs can do it all.
We’ve scoured the market to find the best rental management software solutions available, so you can focus on running your business with confidence. Whether you’re managing a small portfolio of properties or a large commercial enterprise, we’ve got you covered.
Avail
Avail is a property management software platform that streamlines the rental process for landlords and tenants by providing a comprehensive range of tools. With Avail, landlords can efficiently manage their rental properties by utilizing features such as rental property advertising, tenant screening, access to legally-reviewed lease agreements and documents, rental property accounting management, and more, all from a centralized location. Tenants can benefit from Avail’s personalized renter profiles, online rent payment processing, and maintenance ticket submission system, all designed to enhance their rental experience.
Avail offers landlords two subscription options: Unlimited and Unlimited Plus. The Unlimited subscription option, available at no cost, provides a range of features, including syndicated rental listings, credit and criminal screening reports, state-specific leases, online rent payments, and maintenance tracking. Unlimited Plus, priced at $7 per unit per month, provides all of the features of Unlimited, plus additional premium functionalities, such as next-day rent payments, waived ACH fees, and customized applications and leases.
Avail is a powerful and user-friendly software platform that simplifies the rental process for both landlords and tenants. By offering an extensive range of tools and functionalities, Avail empowers users to manage their rental properties with ease and efficiency.
TurboTenant
TurboTenant is a property management software solution that caters to the needs of landlords with up to 100 rental properties in their portfolios. The platform provides a range of essential tools, including online rent collection, rental advertising, and document storage, without any additional charges.
While TurboTenant account creation is free of cost, landlords must pay a modest fee for state-specific lease templates and electronic signature requests. To ensure compliance with local regulations, landlords can utilize TurboTenant’s state-specific templates for $39 per tenant, while electronic signature requests for the same documents cost an additional $9. Processing one lease agreement through the platform totals to approximately $50.
For landlords seeking to offset these expenses through referral credits, TurboTenant provides limited support. Instead of providing platform credits, the platform rewards successful referrals with a $25 Amazon gift card.
AppFolio
AppFolio is a top-rated property management software solution designed to cater to the needs of landlords with large rental portfolios. The platform offers specialized features that enable remote management of rental units, in addition to providing comprehensive support and resources to help businesses grow and achieve greater efficiency. The two plan tiers available for residential landlords, as well as the plans for community associations and commercial landlords, are priced per unit, with a minimum cost per month. For residential landlords, the core plan entails a minimum cost of $280 per month.
AppFolio is a versatile platform that supports multiple property types, including residential properties, commercial buildings, student housing, and community associations. The platform provides a comprehensive set of features, tailored to meet the specific requirements of each property type. These include accounting software, rent collection, maintenance request management, multi-platform marketing, utility billing, and customizable online lease agreements.
Moreover, AppFolio offers advanced features such as an AI-powered leasing assistant, professional property websites, premium leads, tenant screening, proof of insurance tracking, online payments, a maintenance contact center, utility management, automated accounts payable, and tenant debt collections.
AppFolio is an advanced and versatile property management software platform that enables landlords to manage their rental portfolios with greater ease and efficiency. With specialized support and resources to help businesses grow, the platform offers a comprehensive range of features and functionalities tailored to various property types, providing landlords with a streamlined and powerful solution to manage their operations.
Rentec Direct
Rentec Direct is a highly regarded property management software solution that offers landlords a free basic plan, including rental property accounting and online file management features, for portfolios with up to ten properties. However, advanced features are only available with the paid plan. The monthly cost of Rentec Pro varies based on the number of properties managed, with different pricing tiers for one to ten units, 11 to 25 units, and beyond. While landlords can avail of a 10% discount by selecting an annual billing cycle, those with larger portfolios may still incur substantial costs.
It’s worth noting that the paid plan offers several additional benefits compared to the basic plan, requiring landlords with extensive portfolios to seek out supplementary tools to manage their rentals efficiently. It’s crucial to keep in mind that Rentec Direct’s monthly subscription cost rises as the portfolio size grows.
Propertyware
Propertyware is a specialized property management software solution designed for single-family home landlords, offering a comprehensive suite of features to manage their properties effectively. These features include online rent collection, accounting, maintenance request management, vacant property marketing with leasing agents, listing syndication, tenant screening services, lead tracking, follow-up, and a vendor portal.
The platform has three pricing tiers – Basic, Plus, and Premium – with prices starting at $1 per unit, $1.50 per unit, and $2 per unit, respectively. The Basic plan includes essential features such as report generation, vacancy advertising, property management with owner and tenant portals, streamlined maintenance work order management, accounting, tenant screening, and rent payments.
The Plus plan provides additional conveniences such as two-way text messaging, eSignatures, and inspections, while the Premium plan allows landlords to manage maintenance projects and add portals for vendors. Each plan comes with a minimum monthly fee of $250, $350, and $450, respectively. Propertyware is best suited for landlords managing at least 250 homes to optimize unit costs.
Propertyware integrates with DocuSign for greater efficiency and primarily relies on in-house approaches for marketing, lead generation, and tenant screening. This tailored approach ensures landlords have a more customized experience in managing their rental properties.
Propertyware is a reliable and feature-rich property management software solution designed for single-family home landlords. Its extensive set of features, combined with its pricing plans, makes it an excellent choice for landlords looking to streamline their property management operations.
Landlord Studio
Landlord Studio is a comprehensive property management software solution that offers desktop and mobile versions for iOS and Android devices. Its sleek and modern user interface and advanced accounting features make it a valuable option for landlords seeking a complete property management platform, although some functions may be less extensive than those offered by its competitors.
With a monthly pricing model and an additional cost per unit, Landlord Studio’s Start plan is priced at $5.99 per month for one unit, with an additional $1 per unit per month for each subsequent unit. For landlords managing larger portfolios, the premium Scale plan starts at $19.99 per month when paid annually for one unit, with an additional $1 per unit per month after the first unit.
Landlord Studio is a cost-effective property management software solution that offers a user-friendly platform, ideal for landlords who value simplicity and efficiency. Its powerful accounting tools and sleek design make it an attractive option for landlords seeking to streamline their rental property management operations.
Re-Leased
Re-Leased is a feature-rich property management software solution that caters to landlords and property managers managing various types of properties, such as commercial, retail, office, industrial, and mixed-family housing.
The platform serves as a centralized hub, providing a unified dashboard to oversee upcoming tasks, manage properties, delegate tasks to team members, and communicate with tenants via email and text messages. Re-Leased also offers automated workflows and reminders for critical tasks, with seamless integration with Google Calendar, Outlook, and Microsoft 365.
Requesting a pricing quote from the company’s website is the initial step to unlock Re-Leased’s comprehensive features. Users across all subscription plans enjoy unlimited access to customer support, unlimited property additions, Xero accounting software integration, and cloud-based platform access from any device with internet connectivity.
To safeguard sensitive business data from potential security threats, Re-Leased follows industry-standard security measures. Re-Leased is a versatile and trustworthy property management software solution that optimizes property management operations across various property types.
Hemlane
Hemlane sets itself apart from many of the rental management software tools available in the market with its unique and distinct features. The software offers a convenient agent match feature that can help landlords find local agents for showings, among other useful leasing tools.
While Hemlane is one of the pricier options on the list, it comes with a straightforward pricing model that balances its cost with a 30-day free trial to help prospective users decide on investing in it. The basic plan starts at $30 per month, with an additional $2 per unit per month after the first unit, making it ideal for landlords with a few properties to manage. However, for landlords with larger property portfolios, the Complete plan, starting at $60 per month and $32 per property per month after the first, offers more advanced features to effectively manage their properties.
Yardi Breeze
Yardi Breeze is a top-tier cloud-based property management software that offers a wide range of advanced features to simplify property management operations. With Yardi Breeze, property managers can efficiently manage a variety of tasks, such as rent collection, rental applications, maintenance requests, renters insurance, property marketing, and financial management using the software’s integrated account feature.
Although Yardi Breeze does not have a mobile app, its cloud-based architecture ensures ease of use and flexibility. The software has two pricing tiers: Breeze and Breeze Premier, specifically designed for residential and commercial property management, respectively. These pricing tiers have lower minimum monthly fees compared to most property management software. Additionally, Yardi Breeze offers a premium version that includes advanced features like property website creation, online lease document signing, and a maintenance call center.
Yardi Breeze is a highly advanced cloud-based property management software that delivers a comprehensive set of features to streamline property management operations. Despite its lack of a mobile app, Yardi Breeze’s cloud-based design and advanced feature set make it an excellent choice for property managers looking to improve the efficiency and effectiveness of their property management processes.
Buildium
Buildium is a comprehensive rental management software solution that caters specifically to landlords with substantial property portfolios of at least 50 units. While it offers similar capabilities as other property management software options on the market, it only provides a free trial period of 14 days.
Subscription costs for Buildium vary depending on the number of properties being managed and range from $50 to $460 per month. This price range includes access to advanced features such as tenant screening and standard reports. However, the higher costs may not be practical for landlords with smaller portfolios, as the annual expenditure for property management software alone ranges between $540 to $600.
As such, Buildium may be better suited for landlords and property managers with larger property portfolios who require a robust property management software solution to manage their operations effectively.