Jessie Moore has been writing professionally for nearly two decades; for the past seven years, she's focused on writing, ghostwriting, and editing in the finance space. She is a Today Show and Publisher's Weekly-featured author who has written or ghostwritten 10+ books on a wide variety of topics, ranging from day trading to unicorns to plant care.
Leases, screening, and compliance, Oh my! With the long laundry list of to-dos landlords and property managers have on their plates, it’s no wonder they are looking for help.
Finding the right rental management software can make all the difference — potentially eliminating over 80% of the work.
In this extensive review, I go over the best property management software out there and how you can use it to streamline your rental operations, create better work-life balance, and help you scale when you’re ready.
Not into the responsibility and hassle of being a landlord?
If you want to own property but don’t want to manage it…
Doorvest is a full-service property management app that does all the heavy lifting on your investment property.
Want a more passive approach? Consider one of these top-rated real estate crowdfunding apps:
- Best for small investments: Arrived Homes
- Best for diverse investments: Fundrise
- Best for opportunities for accredited investors: RealtyMogul
Note: We earn a commission for this endorsement of Fundrise.
The bottom line:
Thanks to the residential property management software on the market, there’s an affordable alternative to hiring a human or company to manage your properties.
After reviewing all my options, I like SimplifyEm because you really get a lot of bang for your buck. At a price point of $20/month and with as many features and benefits as it has, SimplifyEm is great for new and experienced rental property owners.
Diversifying your portfolio with real estate is typically a safe move, but it is not the only alternative asset you can add to your bag. Check out the best alternative investments savvy investors are adding to their portfolio.
1. Buildium
Overall rating: 4.5/5
Pricing + fees: Free Demo & 14-Day Free Trial + $52/month Essential Plan and $166/month Growth (More Features)
What it is: Buildium is a cloud-based landlord property management software that helps homeowners and property managers easily handle all aspects of their business.
Who it’s good for: Buildium is ideal for property owners with less than 5,000 units.
Buildium is a comprehensive, cloud-based software property management platform with a wide range of features that make it easy to manage rental properties.
I love that it is easy to use, has an intuitive dashboard, e-signature options, easy payment options, 1099 e-Filing, tenant screening, remote check printing for vendors, and more. The pricing is very reasonable considering the extensive set of features the platform provides.
2. AppFolio
Overall rating: 3.5/5
Pricing + fees: Free Demo + >1000 Units: $1.40/unit per month (Minimum Monthly Fee $280) or 1000+ Units: $3/unit per month (Minimum Monthly Fee $1,500)
What it is: AppFolio is a cloud-based real estate management software designed to help moderately experienced landlords manage their rental businesses.
Who it’s good for: AppFolio’s property management software is designed for small to medium-sized rental portfolios with at least 50 units.
I like that AppFolio offers features such as accounting automation, reporting, marketing tools, leasing tools, online maintenance, as well as a fully mobile experience. However, it may not be ideal for those just getting started, and the pricing makes it less accessible.
3. Yardi Breeze
Overall rating: 4/5
Pricing + fees: Free Demo + $1/unit per month (Billed Annually) ($100 min)
What it is: Yardi Breeze is an all-in-one, online, real estate management software designed to nearly all the property management work for you.
Who it’s good for: Yardi Breeze is a splendid choice for landlords, property managers and real estate investors with small-to-medium sized real estate portfolios that include residential, commercial, self storage, HOA/condos, and manufactured housing properties.
Yardi Breeze is an all-in-one property management software designed to help landlords, property managers, and investors streamline their operations and maximize profitability.
It offers a broad range of services, including tenant screening, online rent payments, maintenance requests, accounting tools, owner statements and reports, corporate websites, and many additional features. The minimum payment makes it accessible for those just starting out, though it is not the most affordable option.
4. TurboTenant – Best for New Investors
Overall rating: 4/5
Pricing + fees: Free Account or $8.25/month (Unlimited Uses)
What it is: TurboTenant is a comprehensive rental property management software that streamlines the entire process from beginning to end.
Who it’s good for: TurboTenant is great for independent landlords who are more hands on as well as first-time and experienced landlords.
Overall, TurboTenant is a great choice for landlords looking for an all-in-one platform to manage their rental properties.
I love the flat fee. I also like that it is easy to use and offers comprehensive features such as rental advertising, online applications, tenant screening, rental management, document management, rent payment management, and more.
It seems a little more limited than the other property management solutions out there, but not by much, considering the price.
5. SimplifyEm – Best Overall
Overall rating: 4.5/5
Pricing + fees: $20/ month -$1450/month (Depending on Units)
What it is: SimplifyEm is one of the best property management software tools out there. They help landlords save time and money by automating many of their daily tasks.
Who it’s good for: SimplifyEm works well for landlords with 1- 2000+ units.
SimplifyEm is an online rental property management system designed to make the lives of landlords and tenants easier.
I love that the platform allows users to quickly generate cash flow reports, manage tenant & lease information, automate tenant billing & late payment notices, accept online rent payments, set up tenant portals, and scan & store unlimited documents. At a starting price point of $20, this is certainly a very affordable option.
6. Doorvest – Best Full-Service Property Management
Overall rating: 4/5
Pricing + fees: Purchase Price of Home + Renovations + 10% of Rental Income Fee (Only When a Tenant is Paying You)
What it is: Doorvest is more than another residential property management software. The company will buy your home, renovate it, place a long-term tenant in it, then manage the tenant afterward.
Who it’s good for: Doorvest is ideal for busy homeowners and potential investors with more disposable income, as well as new investors and those who want to invest in rental properties but are busy or are unwilling to handle the day-to-day.
Doorvest piqued my interest because they handle the property management entirely for you — from buying the home to managing the tenants afterward.
Though the cost is reasonable once a tenant is in the property, the upfront investment may be prohibitive for small-scale landlords who are just starting out. However, most feel that a 10% Rental Income Fee is well worth the passive income they generate.
7. Innago – Best Free Option
Overall rating: 4.5/5
Pricing + fees: Free + Criminal Check Fee and a Rental Payment Fee (Paid by the Renter)
What it is: Innago is a free property management software that helps landlords save time and hassle renting their properties.
Who it’s good for: This is great for beginner and experienced landlords with residential and commercial properties.
Innago is a showstopping property management software most particularly because of the price tag. The company does a lot, including tenant screening, rent collection, maintenance tracking, document storage, and more. There are a couple of fees, but those are passed onto the renters.
Alternatives to Landlord Property Management Software
The expertise required to own a rental property turns many people off — even with the help of some of the best property management software. But instead of finding another alternative investment, they are turning to crowdfunded real estate investing platforms.
Instead of dealing with the nitty-gritty details yourself, this type of investment relies on a team of experienced professionals to handle all the day-to-day operations. There are added fees with this type of investment, but many feel the financial payoff is well worth it.
Top Crowdfunded Real Estate Options in 2024
1. Arrived Homes
Overall rating: 4/5
Pricing + fees: Minimum Investment is $100 + Sourcing Fee: 3.5%-5% + AUM Fee: 0.15%-0.125% of Property Purchase Price + Gross Rents Fee: 5% + Misc Fees
What it is: Arrived Homes is an online real estate platform that allows investors to invest in shares of properties while the experts handle all the details and work.
Who it’s good for: Arrived Homes is perfect for accredited and unaccredited investors who are ok with the 5-7 year hold period and who are looking to purchase rental properties.
Arrived Homes is a crowdfunding platform that allows you to invest in real estate without the hassle and expertise required to buy and rent the property.
The platform is simple, but there are a lot of fees.
Though the minimum investment and the fee percentages are small, the fees add up and make the pricing structure feel less transparent. However, with no personal liability and the fact that both unaccredited and accredited investors can participate, there’s a lot to like about this platform.
2. Fundrise
Overall rating: 4.5/5
Pricing + fees: $10/ minimum + .85%- 1.85% management fee + .15% advisory fee
What it is: Fundrise is an alternative investment platform and is one of the 50 largest real estate private equity investors in the world.
Who it’s good for: Fundrise is ideal for new and seasoned investors looking for diversification in their portfolios at a lower cost and with less risk.
Fundrise certainly offers an innovative approach to investing. Through its platform, investors can build a portfolio of alternative investments, roll over an existing retirement account, open a new Traditional or Roth IRA, and even give a registered investment advisor (RIA) access to invest on their behalf.
I appreciate they offer real-time and oversight reporting, have unlimited scaling, and are affordable.
3. RealtyMogul – Best for Accredited Investors
Overall rating: 4.5/5
Pricing + fees: The platform is free to use, but there are fees that differ with each investment.
What it is: RealtyMogul is a robust, online, real estate crowdfunding marketplace.
Who it’s good for: RealtyMogul is designed for both non-accredited investors and accredited investors who want to invest in single properties or “Private Placements” which are structured as an LLC.
RealtyMogul is an online real estate crowdfunding investment platform that allows investors to invest in equity of commercial and residential properties through real estate investment trusts (“REITs”) or individual properties.
While the platform is set up for both non-accredited and accredited investors, there are more opportunities available for accredited investors.
What’s an accredited investor? Find out in our article about the best investments for accredited investors.
Through RealtyMogul, you have access to exclusive deals and the ability to build custom portfolios. On the downside, fees vary with each investment, making each investment less transparent.
Final Word: Best Property Management Software
Landlords and property managers have a lot to do. Fortunately, there are several rental management software options to help do most of the tedious work for you.
Out of all the best property management software out there, SimplifyEm and TurboTenant certainly stand out above the crowd as great options for newer investors with their simplified easy-to-use platforms, extensive features, and alluring price tags.
For those with less time, crowdfunding real estate investment platforms, such as RealtyMogul and Arrived Homes shine as well.
FAQs:
What is the best property management software?
The best property management software depends on your needs. SimplifyEm is a great option because of its robust features and affordable price tag.
What is property maintenance software?
Property management software does most of the things a landlord or property manager needs to do. A good software will help landlords track income, generate lease agreement, perform tenant screening, advertise properties, and more.
Is Innago really free?
Yes, an Innago account is free. It covers most features, passing on a fee for a criminal check and a rental payment onto the tenant.
What is Yardi breeze?
Yardi Breeze is an all-in-one property management software designed to help landlords perform tenant screening, online rent payments, maintenance requests, and other tasks related to owning a rental property.
How does Rentberry work?
Rentberry is a rental platform. Landlords post available rental properties and renters search for rental opportunities. Rentberry also performs rental screening for landlords.
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