Property management is that the method of creating a system that may minimize hidden and visual losses , mix isolated property clusters during a connected network, automatize and speed up otherwise slow processes, maximize profits, and ultimately attain a high degree of satisfaction and happiness in tenants and patrons. Vacation rental software is just a system to investigate the maintenance prices of multiple properties, collect rental payments, examination & maintenance before a tenant moves in, recruitment vacant housing for advertising, and conducting background or criminal or credit checks of tenants. All these things are done by rental management software which saves you a lot of time. There are various management software are available for various purposes. Like time management software, expense management software and many more but here we are concentrating on best property management software.
What is property management software?
A program that is designed to help the property managers to perform their operational tasks of managing a residential and commercial property is called property management software. These tasks include accounting, property inspection, maintenance and making reports. A key advantage of using it is that it combines all the functions which save you a lot of time. It also helps in maintaining a clear digital record trail, which makes it convenient for the auditors while performing a tax audit. With the help of these rental management software you can do marketing of your property, if needed.
Types of property management software:
Depending on the mode of installation there are two types of property management software which are installed software and cloud software.
1. Installed property management software:
This software has to be installed manually in your computer where your data is stored in a server that is on site. The maintenance, implementation and upgrading of this software are required to be done by an IT professional, and the data can only be accessed when you are in the office.
2. Cloud property management software:
This software doesn’t need to be installed on your computer. You can access this software by logging in to your device. You can access your data from anywhere with an internet connection as the data is stored in the cloud.
Why use property management software for a business?
In a market, as volatile as the real estate, property management software is not only cost-effective but makes it convenient for you to perform all your managerial tasks. It saves you from a lot of paperwork and unnecessary software as all the important tasks can be performed using single software. Since cloud property management software doesn’t require you to have a single server, you can manage any quantum of your properties and employees by simply logging into your device using an internet connection. This saves a lot of time and money, which in turn will help you concentrate on other aspects of the business. Also this software are user-friendly and proven best management system in the field of real-estate.
How much does a property management software cost?
Property management software is usually affordable and costs somewhere in the ballpark of the $1.25per month for a single unit to $1080 for 5000 units per month. Based on how many units have software like Rent post cost around $29 to $249 for a month. For a project which has up to 40 units Buildium costs around $40 for a month, and they also offer lower rates for projects with more than 40 units. Some software offers a flat rate for a month, but a majority of the software’s cost depends on the number of units of the project. Some companies also offer a free monthly trial for their software, so their customers can test the product.
Seven best property management software of 2020
Avail is end-to-end cloud-hosted software which offers property solutions to landlords with around 10 or fewer units. It also offers a free monthly trial for its customers.
Along with a free basic trial, avail offers four pricing plans
- Basic – $0 per month for a single unit with $2 bank fee and $6 for additional units with basic customisation software
- Landlord – $10 per month with full customisation software including a marketing website and no additional bank fee.
- Landlord Plus – $25 per month for up to 5 units with everything from “Landlord” plus unlimited photos and messages, priority support and $5 for every additional unit.
- Professional – $50 per month for up to 15 units with everything from “Landlord Plus” plus multi-deposit function and $2 for every additional unit.
Why choose from Avail?
1) Good support system
2) Ease of use for the landlord and the tenant
3) Multiple listing of the property.
1) Cluttering interface
2) Payment dues notification tend to be a little aggressive
3) Sometimes a delay in transactions
Buildium is a Boston based cloud-hosted property management software catering to more than 15000 customers over 46 countries.
Buildium offers various price plans depending on the number of units which range from $47 per month for up to 40 units and goes up to $1080 per month for 5000 or fewer units. Buildium also offers customised rates for landlords with more than 5000 units.
Why choose Buildium? –
1) Easy to use interface
2) 24/7 customer support
3) Easy tenant tracking and financial transactions
1) Software changes
2) Option for the size of uploading documents is smaller.
3) No option for opening multiple windows at a time
It is web-based SaaS property management software. It has been felicitated with numerous awards. And more importantly it is one of the best user-friendly software.
It offers numerous pricing plans which are as follows
1) Residential – $1.25 per month per unit
2) Commercial – $1.50 per month per unit
3) Community associations – $0.80 per month per unit
4) Student housing – $1.25 per month per unit
Why choose appfolio?
1) No online fee for tenant payment
2) Multiple features for different functions
1) No audit capability.
2) Increased pricing with an increase in the number of units
3) Difficult to track transaction information
It is property management software used for AirBnB properties
Hosty app offers three pricing plans for AirBnB properties
1) Hosty Basic – $0 per month for one Airbnb account and listing.
2) Hosty Advanced – $10 per month for unlimited Airbnb accounts and listings.
3) Hosty Pro – $20 per month for all Hosty Advanced features plus task management, expenses tracker, financial reports and team management.
Why choose Hostyapp?
Hosty app is a prime choice for property management software among Airbnb users.
1) Synchronized listing.
2) Updating info on all platforms from a single platform.
1) No live chat support for customers
2) Only useful for Airbnb customers.
Rentmanager is Ohio based property management software. Not only that but it saves a lot time of the user and proven the best time management software in terms of Property.
Rent manager offers various pricing plan that the customer can get by sending a request on their official website www.rentmanager.com, The prices are in the range of $10 to $35 per month for basic service and $50 to $100 per month for advanced service.
Why choose rent manager?
1) Rent manager offers a unique feature for the users to record their voice and send it across.
2) It also saves money and time through their virtual post office feature.
3) It provides a feature where you can calculate the charges levied on your property, along with other features
1) Issues with the software
2) Only call based customer support
3) Upgrading to a new version takes time to get used to.
It is Texas-based cloud-hosted property management software.
Tenantcloud offers various pricing plans depending on the number of units.
1) Free trial – $0 per month for up to 75 units with 512MB storage space
2) Standard – $9 per month for up to 150 units with 1 GB storage space
3) Advanced – $35 per month for up to 500 units with 10 GB storage space.
Why choose tenant cloud?
1) Immediately accessible after registration
2) Personal Virtual Assistance
3) Free online support and system upgrades
4) No credit card information needed
5) Edit site content with E-site Editor
1) Not so efficient inspection tool
2) Lack of phone customer support
3) Not enough reports feature
It is a Texas-based cloud-hosted property management software company with over 5000 employees
Propertyware offers the following pricing plans
1) Basic – $1 per unit per month with a minimum monthly fee of $250
2) Plus – $1.50 per unit per month with a minimum monthly fee of $350
3) Premium – $2 per unit per month with a minimum monthly fee of $250
Why choose propertyware?
1) All tasks performed by core systems
2) Customisation available
3) Better accessibility between tenants and landlord
1) System glitches sometimes.
2) Limited features available in comparison to other software
In a vast market like real estate where keeping records and other managerial tasks are of the utmost importance, it is imperative to use property rental management software. A cloud-hosted software is advantageous as it is accessible from anywhere and doesn’t require special on-site servers. These vacation rental software are the need of the hour for residential and commercial properties.