Top 10 Property Management Software for Real Estate

Are you finding it tougher to manage the complexities of multiple properties? Handling tenant requests, scheduling maintenance, and collecting rent on time can quickly become overwhelming. 

Without the right tools, such as real estate property software, these tasks can stack up. This leads to missed opportunities, unhappy tenants, and a negative impact on your profits.

Why is this such a pressing issue? According to Grand View Research, the global property management software market was valued at USD 5.51 billion in 2023 and is projected to expand at a compound annual growth rate (CAGR) of  8.9% from 2024 to 2030. This growth highlights the increasing need for automation and efficiency in real estate management. 

As the industry evolves, staying competitive requires adopting real estate property software that directly addresses these challenges.

In this article, you’ll discover how property management software can help you overcome these obstacles. We’ll explore the features, benefits, and the top tools available today. By the end, you’ll know how to choose the right software to streamline your operations and enhance your business’s profitability.

Ready to take control of your real estate management? Let’s dive in.

 

What is Real Estate Property Management Software?

Real estate property management software is here to make your life easier. It simplifies all the tasks that involve managing real estate properties. Whether you’re handling residential, commercial, or mixed-use properties, this software acts as your central hub. It streamlines operations, boosts efficiency, and helps you avoid mistakes.

At its core, real estate property software is a digital tool that assists you. It helps you manage different aspects of property ownership and leasing. This includes everything from finding tenants to dealing with maintenance and tracking finances. 

The main goal? To automate common tasks and improve communication with your clients. Plus, it gives you real-time insights into how your properties are doing. By pulling all these functions together in one place, the software lets you manage your properties more efficiently. This way, you can spend less time on daily tasks and more time on growing your business.

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H2. Key Functionalities of Real Estate Property Software

Real estate property software comes with several features that help you run your business more smoothly. Here’s what you should expect from any reliable property management software.

1. Tenant Screening

Tenant screening is essential in property management. This feature helps you quickly assess potential tenants by checking their credit scores, rental histories, and background information. When you automate this process, you can choose reliable tenants more easily. This reduces the risk of late payments and property damage.

2. Rent Collection

Collecting rent can take up a bunch of your time. But with real estate property software, you can automate rent collection. Tenants can pay online, which makes it easier for them and ensures you get paid on time. This helps you avoid cash flow issues.

3. Maintenance Scheduling

Keeping your properties in good condition is key to keeping tenants happy and maintaining property value. Property management software helps you schedule and track maintenance tasks efficiently. 

You can set up automated reminders for regular maintenance, track work orders, and communicate with contractors directly through the platform. This way, you can address maintenance issues promptly.

4. Financial Reporting

Precise financial reporting is vital for making informed business decisions. Property management software gives you detailed financial reports, including income and expense tracking, profit and loss statements, and tax preparation documents. 

These reports provide a clear picture of your financial performance, helping you manage your budget more effectively and plan for the future.

Now that you know what real estate management software is and how it works, let’s explore why it’s so valuable for your real estate business

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H2. Importance and Benefits of Property Management Software in Real Estate

Managing real estate properties requires more than handling rent and tenant requests. You must stay competitive, keep operations smooth, and make informed decisions. Real estate property software provides you with the tools to manage your business effectively.

H3. 1. Competitive Advantage

In today’s market, efficiency keeps you ahead. Property management software automates routine tasks, allowing you to focus on business growth. 

With features like automated rent collection and real-time data access, you can respond quickly to market changes, adjust rental prices, and keep your properties occupied. This adaptability ensures you stay competitive, even as the market shifts.

H3. 2. Indispensability for Managers and Owners

Managing multiple properties can overwhelm you. Real estate property software simplifies this by centralizing essential information—tenant details, maintenance schedules, and financial records—in one place. This centralization reduces your workload and ensures tasks get done efficiently. 

Owners with large portfolios benefit from monitoring everything from one dashboard, providing peace of mind and operational clarity.

H3. 3. Enhanced Efficiency and Decision-Making

Efficiency and smart decisions drive a successful real estate business. Property management software automates tasks like rent collection and maintenance scheduling, freeing your time for strategic work. 

The software provides real-time insights into occupancy rates, maintenance costs, and tenant satisfaction. This data enables you to make informed decisions, preventing issues from escalating and ensuring your business runs smoothly.

Understanding these benefits is the first step. In the next section, we will guide you through the top property management software platforms available today.

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H2. Top 10 Real Estate Property Software Platforms

Choosing the right real estate property software can transform the way you run your real estate business. Below, we explore the top 10 platforms, each presenting unique features tailored to meet the needs of real estate professionals.

 

1. Sell.Do

G2 Rating: 4.9/5

Sell.Do is a dedicated CRM for Real Estate, Founded in 2011. It is an integrated CRM and marketing automation platform designed specifically for the real estate industry. It’s ideal for real estate developers, brokers, and agents looking to streamline their processes. Sell.Do helps you manage leads, automate sales, handle inventory, and run marketing campaigns—all from one platform.

Key Features of Sell.Do

• Lead Management: Centralized system to capture and nurture leads effectively.
• Omni-Channel Communication: Seamless communication across multiple channels, including calls, emails, SMS, and WhatsApp.
• Inventory Management: Real-time inventory tracking to keep you updated on availability.
• Workflow Automation: Customizable workflows to automate repetitive tasks, ensuring consistency and saving time.
• Performance Analytics: Advanced analytics to track and optimize sales performance.

Pricing: Sell.Do offers custom pricing tailored to your business size and needs. Pricing details are available upon request.

Also Read: How to Power-up Your Real Estate CRM and Social Media Integration?

 

2. Buildium

G2 Rating: 4.4/5

Buildium is a real estate property software designed for rental property administrators. Whether you manage a small or large portfolio, Buildium provides all the necessary tools. It’s prevalent for its ease of use and extensive feature set.

Key Features of Buildium

• Online Rent Payments: Facilitates secure, online rent payments, ensuring timely collections.
• Tenant and Lease Tracking: Keeps all tenant and lease information in one place.
• Maintenance Management: Streamlines maintenance requests and task management, improving response times and tenant satisfaction.

Buildium Pricing

• Essential: $55/month
• Growth: $174/month
• Premium: $375/month

 

3. TurboTenant

G2 Rating: 3.8/5

TurboTenant is a free, user-friendly property management tool primarily for independent landlords. It simplifies the rental process by offering essential features like tenant management, rent collection, and online applications. 

Key Features of TurboTenant

• Free Basic Plan: Offers essential features at no cost, making it ideal for smaller landlords.
• Online Applications and Screenings: Streamlines the tenant application process with integrated screening tools.
• Rent Collection: Allows tenants to pay rent online, reducing late payments and simplifying the process.

TurboTenant Pricing

• FREE: $0/month
• PREMIUM: $9.92/month

 

4. AppFolio

G2 Rating: 4.6/5

AppFolio stands out as an advanced property management solution tailored for large portfolios. It presents many features designed to streamline operations, making it an ideal choice for property managers handling multiple properties. 

Key Features of AppFolio

• Accounting and Reporting: Comprehensive financial tools that allow you to track expenses and generate detailed financial reports.
• Tenant Portals: Provides tenants with a dedicated portal for paying rent, submitting maintenance requests, and communicating with property management.
• Mobile App: A mobile app that ensures you can manage your properties on the go, with access to all critical data and tools.

Appfolio Pricing

• Core: $1.49 per unit/month
• Plus: $3.2 per unit/month

 

• Max: $5 per unit/month

 

Also Read: Tech Adoption For Efficiency In Real Estate Business

 

5. DoorLoop

G2 Rating: 4.8/5

DoorLoop offers flexible and comprehensive real estate property software, particularly suited for rental properties. It’s known for its ease of use, making it accessible even to those who might not be tech-savvy.

Key Features of DoorLoop

• CRM and Lead Management: This helps you manage and nurture leads effectively, ensuring higher conversion rates.
• Maintenance Tracking: Simplifies the tracking of maintenance requests, helping you stay on top of property upkeep and tenant satisfaction.
• Marketing Tools: Integrate marketing features to promote your properties and reduce vacancy rates.

DoorLoop Pricing

• Starter: $34.5 per unit/month
• Pro: $69.5 per unit/month

 

• Premium: $99.5 per unit/month

 

 

6. Yardi Breeze

G2 Rating: 4.0/5

Yardi Breeze is a straightforward, user-friendly property management platform ideal for small—to medium-sized portfolios. Its design can handle both residential and commercial properties, making it adaptable and capable of varied use. 

Key Features of Yardi Breeze

• Rent Collection: Facilitates timely and secure rent collection, reducing the likelihood of late payments.
• Invoice Processing: Simplifies the processing of invoices, helping you keep track of expenses and payments.
• Tenant and Lease Tracking: Manage tenant information and lease agreements with ease, ensuring you stay organized and compliant.

Yardi Breeze Pricing

• Residential: $1.00 per unit/month
• Commercial: $2.00 per unit/month
• Affordable Housing: Contact for pricing

 

7. Hemlane

G2 Rating: 4.8/5

Hemlane stands out by combining cutting-edge technology with local agent support, creating a hybrid real estate property software tailored for real estate investors. This unique approach lets you benefit from both automation and personalized service.

Key Features of Hemlane

• Local Agent Network: Connects you with local agents to handle tasks like property showings and inspections.
• Automated Alerts: Keeps you informed with automatic reminders and alerts for critical tasks.
• Lease Tracking: Efficiently track lease agreements and renewals to stay organized and compliant.

Hemlane Pricing

• Free: $0/month
• Basic: $30/month (or $2 per unit + $28 base fee)
• Essential: $48/month (or $20 per unit + $28 base fee)
• Complete: $96/month (or $68 per unit + $28 base fee)

 

8. Landlord Studio

G2 Rating: No Rating

Landlord Studio caters specifically to small landlords. It offers a simple yet powerful toolset to manage finances, maintenance, and tenant communications. With its user-friendly interface, Landlord Studio helps you stay on top of your property management duties.

Key Features of Landlord Studio

• Income and Expense Tracking: Easily track your rental income and expenses to stay financially organized.
• Tenant Screening: Screen potential tenants quickly to find the most reliable ones.
• Reporting Tools: Generate financial and operational reports to gain insights into your property’s performance.

Landlord Studio Pricing

• GO: Free for up to 3 units
• PRO: $12.00/month for the first three properties, then add $1.00/month for each additional property

Also Read: The Ultimate Guide to Real Estate CRM Lead Management

 

9. Propertyware

G2 Rating: 3.7/5

Propertyware is a robust property management platform specifically designed for single-family and low-density residential properties. It presents a comprehensive suite of features at competitive pricing.

Key Features of Propertyware

• Accounting Tools: Manage your property’s finances with advanced accounting features.
• Marketing and Leasing: Promote your properties and manage leases all in one platform.
• Payment Processing: Facilitate secure, online rent payments and other transactions.

Property Ware Pricing

• Basic: $1.00 per unit/month
• Plus: $1.50 per unit/month
• Premium: $2.00 per unit/month

 

10. Rentec Direct

G2 Rating: 4.5/5

Rentec Direct offers cost-effective real estate property software for small and mid-sized portfolios. It provides a balanced mix of accounting, tenant management, and marketing tools.

Key Features of Rentec Direct

• Tenant Portals: Provide tenants with a portal for rent payments, maintenance requests, and communication.
• Rent Collection: Simplify rent collection with online payment options.
• Financial Reporting: Generate detailed financial reports to monitor income, expenses, and profitability..

Rentec Direct Pricing

• Rentec Pro: $50 per unit/month for landlords and investors.
• Rentec PM: $50 per unit/month for property managers.

These real estate property software offer a variety of features to meet different needs in the real estate industry. Whether you’re a small landlord or managing a large portfolio, these tools can help streamline your operations, boost efficiency, and enhance tenant satisfaction. With this comprehensive overview, you're well-prepared to select the right property management platform for your business.

Now, let’s explore how to select the best real estate property software that fits your specific needs.

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How to Choose the Right Real Estate Property Software

Choosing the right real estate property software can make a big difference in how smoothly your business runs. Let’s break down the key steps to help you make the best decision.

1. Assessing Business Needs

Start by understanding what your business really needs. Think about the type of properties you manage—whether they’re residential, commercial, or a mix of both. 

Also, consider the size of your portfolio. If you manage just a few properties, your needs will differ from someone who oversees many units.

For small portfolios, you might need software focusing on tenant management and rent collection. You’ll need advanced features like lease management, detailed financial reporting, and maintenance tracking if you handle a large portfolio. Determining your exact needs will help you choose software that fits your business.

2. Evaluating Features

After understanding your needs, look at the features offered by different software platforms. Not all real estate property software is the same, so it’s important to find one with features that match your business.

Focus on the essential features first. These might include tenant screening, online rent payments, maintenance management, and financial reporting. 

Once you have the basics covered, consider additional features that could benefit your operations, like marketing tools or mobile access.

Don’t be swayed by software with a long list of features you don’t need. It’s better to choose a platform that offers the right tools. A streamlined, easy-to-use software with the necessary features is more valuable than a complex one with extras you’ll never use.

Also Read: CRM Best Practices for Real Estate Developers

3. Cost Considerations

Cost is always a factor when choosing software. Pricing can vary widely—from subscription models to one-time purchases. Some platforms charge per unit, while others offer flat rates.

Think about your budget and how it matches with the software features you need. If you manage a small portfolio, a free platform like TurboTenant might work well for you. 

For larger portfolios, investing in a more robust platform like AppFolio or Buildium might be worth the higher cost. Make sure to check any extra costs, such as fees for premium features, customer support, or setup and training. 

4. User Experience and Support

Finally, you should consider the user experience and the quality of customer support. A user-friendly interface can make your job easier and save you time. Look for software that’s simple to navigate, reducing the learning curve for you and your team.

Good customer support is also essential. Reliable support can be crucial, especially when setting up the software or troubleshooting issues. 

Choose platforms like Sell.Do that offer strong customer service, whether through live chat, phone support, or helpful online resources.

In summary, choosing the right real estate property software involves understanding your business needs, evaluating features, considering costs, and ensuring a positive user experience. By keeping these factors in mind, you’ll be able to select software that not only meets your present needs but also supports your business as it grows.

Also Read: CRM Features That Real Estate Developers Need To Consider

 

Conclusion

Managing real estate properties efficiently is essential to staying competitive in today’s market. Real estate property software offers the tools you need to streamline operations, automate tasks, and make better decisions.

Throughout this article, we’ve shown how property management software can help you reduce workload, minimize errors, and gain real-time insights. We also reviewed top platforms designed to meet the specific needs of real estate professionals like you.

Investing in property management software is a smart move if you want to optimize your business. As the real estate industry grows, managing properties effectively, responding quickly to changes, and providing excellent service will help you stand out.

Sell.Do provides a comprehensive solution tailored for real estate professionals. Its features include lead management, omni-channel communication, and performance analytics. Sell.Do helps you manage properties more efficiently, increase sales, and improve overall business performance.

Take the next step to enhance your property management. Book a free demo with Sell.Do today and see how this tool can transform your real estate business.