As a property owner or real estate administrator, you must maintain total control over a variety of activities, such as property advertising, leasing, documenting accurate occupant data, and adhering to state and local legislation. Hence, managing your real estate holdings without a property management tool might be difficult.
This post will go through the top five real estate property management tools.
Post Contents
1. TurboTenant
TurboTenant has many features that simplify property management, such as rental advertising, processing online applications, tenant screening, signing lease agreements via electronic signature, rent collection, and keeping track of maintenance requests.
Some residential property management software packages offer free versions, usually for 14 days or less, but this offer is limited to one or two properties. TurboTenant, on the other hand, is completely free regardless of the number of properties you handle. While many free residential property management software systems are not user-friendly, TurboTenant is relatively easy to use, with an uncomplicated platform and structure.
Furthermore, by partnering with platforms such as Rent.com, Realtor.com, Facebook Marketplace, and other residential advertising sites, TurboTenant allows property owners to market an empty apartment across many platforms with a click of the mouse.
But if you’re in charge of a small property, you might want to check out the available software for small property managers.
2. Buildium
Buildium can be your magic wand if you own some properties and are wondering how to manage them effectively. This property management tool is unique because it offers a one-month satisfaction guarantee. It also includes a user guide that explains how to use it and provides crucial information about Buildium. Customer care is excellent, providing prompt assistance if you encounter any problems.
It’s natural to have reservations about Buildium’s performance. After all, acquiring it will cost you a lot. However, Buildium offers a free two-week trial period, giving you enough time to test it out. On the other hand, pricing is determined by the number of units you oversee—the more units you oversee, the lesser the price. Furthermore, you’ll receive a substantial discount if you opt for a yearly subscription.
3. Entrata
The beauty of Entrata is that it’s designed for property administration, advertising, and leasing functions in addition to being cloud-based. Its all-inclusive advertising tools enable you to promote your property on market-leading platforms, attracting potential clients.
Also, Entrata offers real-time data to boost the visibility of your ads. Its leasing suite has a feature that creates unique lease contracts based on your requirements.
Furthermore, Entrata saves you the hassle of printing documents since all lease filing can be instantly e-signed by your tenants. Its accounting tool keeps track of all account books, reimbursements, and expenses in one place.
4. MRI Software
This property management tool is ideal for owners of commercial buildings such as multi-family residential apartment buildings or building complexes.
MRI Software also provides functions not found in competing companies’ plans or portfolios, such as capital management, corporate strategy design and evaluation, lease abstracts, space administration, as well as apartment building regulations.
Commercial estates are associated with significant fiscal complexities, and the venture capitalists that control them require several estate reports, such as strategic planning and assessment and financial advisory reviews.
As a property management tool, MRI Software was primarily designed to meet these needs. It’s particularly well-suited to the commercial industry or enterprises with a diverse portfolio of assets, such as residential estates.
5. AppFolio
AppFolio has several functions that boost efficiency and simplify real estate management. Taking advantage of these features enables you to significantly reduce time spent on monotonous tasks, so you can concentrate on the vital processes of property management.
Additionally, the application suite embedded in AppFolio allows real estate managers to conveniently manage several properties. For instance, if you’re handling several rental properties with many occupants, the capabilities of AppFolio enables you to seamlessly move occupants from one unit to another while still maintaining and updating all lease documents.
Furthermore, the app makes your work even easier since you can obtain renters’ credit statements and register claims electronically, streamlining the process of managing several properties.
Final Thoughts
When selecting a property management tool, make sure it’s simple to use and that you have access to the data you need to manage your assets properly. Your property management tool should also have built-in security features to protect your data.
These important considerations will help you choose the right tool for managing your real estate properties. In the end, investing time and money in any tool is pointless if you’re not going to get the greatest value for money.
