Property Management Software for Realtors
What are the best property management software solutions for today’s real estate investors and professionals?
Today, you are only as good as your software and tech solutions. You are only as efficient as the software you have. Your speed, ability to deliver great service and how much business you can do and money you can make will all rely on this. Not to mention how much free time you’ll have left over and the amount of (or lack of) stress you’ll have on a daily basis. It will even determine the talent you can attract and retain for your real estate business.
It’s important. This applies no matter whether you are wholesaling houses, fixing and flipping houses, building a portfolio of rentals or just manage properties for others.
When getting started you might get by with using other types of real estate software to manage your leads, acquisition processes and deal flow. Though at some point you will want something a little more robust and property management specific to meet your needs, and those of your partners, investors and customers.
Here are six top property management software solutions in the market today…
InfoTycoon is a multifamily specific property management software. It’s used by at least 4 of the 5 largest property managers in America. Its client list includes CAPREIT, Greystar and Cortland Partners. Among its features is tablet based integration for quick reporting from the ground, and a variety of tools for storing key images, preventative maintenance and speeding up unit turnarounds.
Appfolio has been gaining a lot of users in the real estate space. Features include online rental payments, online maintenance requests, 1099 creation, and more. Just watch out for the per unit pricing model, which may be cheap or expensive depending on how many units you have in your portfolio.
Propertyware is becoming popular with real estate investors who are operating turnkey real estate investments and new build projects. Propertyware claims to decrease rent late payments by 566%, with online rent collection. It also offers unlimited training and esignature tools. Pricing is based on units under management, with a $250 monthly minimum, and startup fee equal to 2 months of the chosen subscription.
Yardi Breeze offers a streamlined solution for both residential and multifamily property portfolios, as well as mixed portfolios. This property management software has a strong mobile component, and integrates with Rent Cafe for getting units listed and attracting renters quickly. Yardi is well respected as one of the best established property management providers and data compilers. Pricing is comparable to other options, by may require a contract.
Property managers now reportedly use Buildium to manage over 1M units. You can use it to manage rentals, associations, student housing and affordable housing. It maintains high reviews from Software Advice, though it may be important to watch the menu of fees for using various features on the platform.
Property Matrix starts at $350 per month, and boasts a lot of customization for data fields, creating e-leases, and zero cost ACH payments. Prides itself on great accounting, with ease of separating accounts for multiple corporations and entities.
These are just some of the best property management software solutions available today. When choosing yours, make sure to look for a match for your budget and growth projections, features needed, ease of use and implementation, integration and what you will need to run your business in the future.