The real estate market is on a global high, and technology has led to a huge disruption in the way people hunt for properties. With the entry of real estate property management software, the dynamics have changed – all activities right from rent to vacancy monitoring, contract documentation and insurance can be handled with the click of a button!

Choosing the best property management software from the tons of options available in the market can indeed be a daunting and overwhelming task. So, we have put together a list of the best real estate property management software tools that can help you save time, money and effort:

Best Real Estate Property Management Software

1. TRIRIGA Real Estate Manager

One of the best property management systems in the market, TRIRIGA by IBM is a comprehensive solution with a rock-solid reputation.

 

Pros:

• Automates the management of real-estate and asset-lease contracts
• Prebuilt lease accounting controls
• Advanced reporting capabilities with drill-down options
• Balance -sheet and income statement analysis
• Automated lease payment reconciliation

Cons:

• No scope for scalability
• Makes sense for larger business models and organizations

Pricing: It is a slightly expensive real-estate property management platform, and getting a valid software license can cost your organization 13,500$.

2. Rent Manager

This is an advanced real estate software that is specifically designed to manage every unique facet of property management.

 

 

Pros:

• Manages a comprehensive database with an integrated accounting system
• Intensive contact management and marketing solutions
• Open API portal for customizations
• Easily navigable interface with data security features

Cons:

• Some features need more fine tuning
• Reports need to be  more customizable

Pricing: There are several pricing options, including standalone solutions and an online version – a price quotation is tailor-made for organizational requirements.

3. 360Workplace

This is a diverse suite of systems that can holistically management a range of functions such as facility maintenance, space management, construction management, and lease administration)

 

Pros:

• The cloud-based solution with no cap on users
• Manages construction timelines and schedules
• Stimulates project expenses and ensures strict tax compliance
• Streamlines real-time asset and inventory tracking

Cons:

• Built for corporate real-estate businesses, hence not suitable for individuals or start-ups that require heavy customization options

Pricing: 360Workplace has not listed pricing plans, however, they do provide free demos for interested users to check out all features and applicability.

4. Appfolio Property Manager

An innovative cloud-based property management software, Appfolio allows agents, realtors, and organizations to remain connected on the move.

 

Pros:

• Facilitates the creation of professional websites
• Advanced reporting and analytics
• A user-friendly system with multiple features
• Easy updates and stringent security measures

Cons:

• Certain features need to be added for better functionality
• Support team needs to be more responsive

Pricing: Appfolio has different pricing plans – it charges $1.25 per unit per month for residential usage. It is priced at $ 1.50 for commercial users, $1.25 for student housing and 0.80 for community usage.

5. Buildium

This real estate property management software is a top choice as it is used extensively in more than 46 countries due to its simple interface and multi-faceted features.

 

Pros:

• Handles a wide range of functions such as leasing, accounts, and taxation
• An integrated resident portal that processes maintenance and payment requests
• Data backup in the cloud
• Customized website creation

Cons:

• Requires an initial learning curve for first-time users
• Set-up can be complex and time-consuming

Pricing: Buildium has a variable pricing model that depends on the number of units, and the payments can be monthly or annually. They provide an extensive free trial for interested parties.

6. Planon Real Estate Management

This is an ideal real estate CRM software as Planon can handle large volumes of property data with ease, and has a vast array of advanced features.

 

Pros:

• Organizes, stores and structures data such as property listings and tenant details
• Transaction management for better financial planning
• Visual centralized dashboard for informed decision making
• Analytics and forecasting ability

Cons:

• Planon is more suited for medium and large sized businesses, and may not be cost-effective for smaller organizations.

Pricing: Planon has different pricing plans which are not listed publicly. They provide a free demo and work out pricing depending on organizational requirements.

7. Property Operations Workspeed

This is a popular rent and real estate management software that can manage business analytics, risk and asset management.

 

 

Pros:

• Visitor management for multiple properties
• Users have complete access to equipment library
• Mobile app for better accessibility
• Service request tool to submit work orders and enhance support capability

Cons:

• Does not allow for any kind of customization, hence organizations may require to depend on MRI solutions

Pricing: Property Operations has a range of differential pricing plans, however, they are not listed. Interested users can get personalized quotes and avail a free demo from the website.

8. Rentec Direct

A complete and comprehensive property management software, Rentec Direct is the preferred choice amongst individual realtors and real estate organizations as it offers a user-friendly interface, rich features, and data security.

 

Pros:

• Automatic tenant screening with logins for both owners and tenants
• An online portal that tracks payments, expenses, and maintenance
• Ability to publish vacancies online
• A responsive system with long term user support

Cons:

• Reporting capability can be improved by enhancing customization options

Pricing: The company offers a free two-week trial, and prices start at $0.90 per unit per month.

9. Entrata

A cloud-based property management software, Entrata has the capability to manage a vast range of functions and also has open API integrations with third-party providers.

 

Pros:

• Diverse functions such as accounting, vendor management, and bank reconciliation
• Full-time support team and trainers
• A visual intuitive dashboard that enhances workflow management
• Highly user-friendly with feature integration

Cons:

• Updates may seem to be a bit slow, and there have also been reports of bugs in the system at times

Pricing: Pricing is not listed on the website, however, Entrata provides customized quotations to interested parties.

Managing your properties is now super easy and fun with these amazing real estate management software tools and manage your leads effectively. Make sure to grab the best one for your organization, and witness a dramatic increase in operational efficiency and productivity.