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Best Software For Rental Properties Software With ExtensiveIn todays digital era, landlords have access to some of the best property management software programs out there, making the process of managing a single unit or 100 units more streamlined than ever. Best Software For Rental Properties Upgrade To AIf youre looking to upgrade to a new management program or planning to use an online property management software for the first time, this article will explain what to look for in property management software program and compare the top property management software companies to see which program is best for your needs. Who is property management software best for Online property management software is best for real estate investors or professional property managers who own or manage rental real estate and want to streamline the process of managing a single rental property or multiple rental units. There are a number of free software systems that offer basic management features, making them great options for property owners who only own one to 49 rental units. Other software systems have more robust features and charge an annual fee, monthly fee, or a combination of the two; these systems are typically better for those who are managing 50 or more units. What to look for in the best property management software A property management software solution should provide the landlord or property manager with everything they need relating to the property(s) in one centralized location. Property management software should improve the management process for its users by simplifying things such as: Tenant screening Rental applications Rent collection and online payments Communicating with tenants Maintenance requests Signing or renewing leases Advertising properties Income and expense tracking Accounting tools Reporting and more How I determined which software companies were best There are literally dozens of different property management software systems out there, making choosing a platform an intimidating process. Rather than you having to go at this alone, I compared 12 of the top companies based on customer reviews and popularity on Capterra to determine which programs were best. I looked at features like: Customer reviews Customer support Mobile functionality Usability and ease of interface Features Cost I took all of these factors into consideration and chose the best company for real estate investors looking for a free software program, mid-range software program, or professional program. The paid version is great for landlords who own 75 units or want to benefit from additional features. Extra features are only available in the paid versions of this software (9 or 35 per month). The most expensive tier is 1,080 per month for up to 5,000 units. Tenant Cloud is a really robust program considering its free for up to 75 units. Overall, this is the best property management software system for a small rental portfolio in terms of value, features, and functionality. Pros of Tenant Cloud: Cloud-based, not desktop-based Mobile functionality Advertise rental units Contact and task management Screen tenants with a customizable online application and credit, criminal, and background check service Communicate with tenants Handle maintenance requests Collect rent online Automatic email reminders to tenants when rent is due or late Accounting and expense tracking (paid feature will link to QuickBooks) Cons of Tenant Cloud: No digital leasing (cannot send lease for e-signature with free membership) No calendar syncing Certain features like syncing with Quickbooks or automatic tenant payments are restricted in the free version Mixed reviews about its customer service Software updates are infrequent and new or improved features arent introduced often Runners-up for best free property management software: Cozy.co is second in line for the best free property management software. It has many of the features listed above; however, it does not offer customizable applications. Turbotenant.com is 100 free no matter how many rental units you have. It offers similar advertising, tenant screening, and application features as Tenant Cloud, but does not allow you to collect rent online, which is a major downside. Its monthly fee is expensive, but its program functionality, features, and user-friendly interface make it my top pick for a mid-tier property management software. It can be used for residential or commercial rentals, as well as community associations.
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