Rental software helps you manage a small business with rented property. Learn how to choose the best rental software for your small business, and save thousands on leasing by using free rental software instead of costly software packages.
Sometimes, it is better to have a tool that can help you manage your vacation property business that free. This is where rental software for small business comes in. If running a small business is your goal, then you will understand how tough it can get to manage everything. From time-to-time, you will need some sort of help from tools and software which has been created to support small businesses.
Our rental software will streamline your operations, making your business more efficient and productive. Our rental software simplifies the day to day tasks of running your rental business with features such as online rentals, inventory tracking, employee management and customer marketing. Whether you’re a small business or large corporation, our flexible programs can be customized to suit your needs.
Provides software and services to help you manage your company’s equipment rental needs. The software is designed for small business owners and is available online or can be locally installed on your server.
Benefits of Property Management Business Software
- Scalability
This software helps you manage to properties of all types and sizes. Moreover, modern platforms are easily upgraded and enhanced so that you can grow effortlessly while meeting expanding needs and demands.
- Save money
By investing in a top property management software for small business, you are effectively lowering the need for additional manpower and are saving wages. A lot of software solutions in the market are cost-effective options.
- Save time
Thanks to the software, you are able to automate complex tasks and processes, which help you save a ton of manpower and time. You’re able to do pretty much anything, like send reminder emails and notifications, create documents and reports, communicate with your staff, and more. Automating all your manual processes helps you save time so you can focus on the big picture.
- Information access in real-time
You don’t have to be at your desk to complete your work because property management software is available anywhere and at any time, and probably on your mobile device too. When all key data is available in one place and is available at any time, you have a simple and accessible platform to manage your business and employees.
- Easy to use
It’s a bit of a no-brainer that the solution you choose should be easy to use and to implement. If it’s time-consuming and complicated then you won’t use it and neither will your team. Make sure the training is short or is just that easy you don’t need to train a single person on the software.
- Security
Keeping all your confidential information secure in a trusted property management software solution is a must. Many top solutions have advanced security measures like encryption, firewall, and backup/recovery modules.
With all the above in mind, you know have all the information needed to choose the best property management software for your small business. We have separated the solutions by the tools your business would benefit most from – management, business software, and other necessary tools.
DoorLoop
DoorLoop is a rental property management system created to manage all types of properties such as residential, commercial, student housing, affordable housing, and community associations. It is designed to serve as a one-stop for your operations which can be accessed by owners, tenants, accounting, marketing, maintenance, and other stakeholders. Whether you manage a small community of renters or lead an entire company with various commercial properties, DoorLoop can handle it for you.
Try out DoorLoop with their free trialVISIT WEBSITEFREE TRIAL
As a centralized system, it provides numerous functionalities, so you never have to pay for multiple, disconnected applications. It comes with a CRM where you can keep track of tenants, automate rent collection, and even offer renters insurance. Owners can access practically all information related to your operations, from detailed transactions to financial reports. DoorLoop also allows various payment methods which go directly to financial statements that accountants can access.
Key Features of DoorLoop
- The platform is designed to be a centralized platform where you can manage your entire operations.
- It houses functionalities for tenants, property managers, owners, landlords, and other stakeholders.
- The software comes with powerful accounting features which allow you to accept payments, generate financial statements, and create custom reports.
- You can list your properties within DoorLoop and attract tenants online through custom-branded websites and listings.
- It can centralize all of your tools through open API and Zapier.
Buildium
Built by property managers for property managers, Buildium’s comprehensive service allows property owners to control every aspect of their business remotely, making it the best overall choice for both residential and association property managers.Pros
- Built by property managers for property managers
- Automatic rent collection through a tenant portal
- Online ticket support during business hours
- A lot of training materials offered
Cons
- Expensive pricing plans
- Some customer support complaints
- Not a fit for single property managers
Buildium, our overall best, is a comprehensive software that allows rental managers to control everything from online rent payments, vacancy management, maintenance cycles, and accounting. Through accounting, business operations, leasing, and community association management features, Buildium streamlines the whole property management process. It facilitates the lead-to-rent collection cycle through tenant and lease tracking, automated rent and fee reminders, complete general ledger accounting, and on-demand reports. Among its features, Buildium also has a specialized tenant portal that allows property managers to receive online payments automatically.
While there is no free version, they offer a free 15-day trial. Pricing is based on the number of units you manage and starts at $50 per month for up to 150 units. The more units you have, the lower the cost per unit with a maximum number of 5,000 units. Buildium also has a 10% discount for anyone that signs up for annual billing.
As it streamlines the whole process, Buildium is fairly simple to use, although basic users may not be able to maximize all of its features. To help users find their way through it easier, Buildium has a ticket-based customer support system, although there were some complaints about the slow responses clients received from it.
To support its features, Buildium integrates with several outside software platforms, including Apartment List, Apartments.com, Forte, HappyCo, HotPads, Lovely, TransUnion, RevSpring, MSI, Nelco, Tenant Turner, Happy Inspector, PayNearMe, Trulia, Zillow, and Zumper.
The idea began between 2002 and 2003 when Michael Monteiro & Dimitris Georgakopoulos started their rental property business and realized they needed software that will help them manage their properties easier. In 2004 they founded Buildium, which quickly grew to 10,000 customers by 2014, receiving many awards and recognitions to date from G2, SoftwareAdvice, and Capterra.
TurboTenant
TurboTenant’s pricing model puts all of its costs on the tenants, making it the best free option for landlords.Pros
- Free regardless of the number of units managed
- Great for DIY landlords
- 24/7 customer support through phone and online
Cons
- Tenants have to pay for it
- Limited advanced features
A lot of rental property management software platforms have free trial options, but often for only a limited number of units or a limited period of time. This is not the case with TurboTenant, which will remain 100% free no matter the number of units you manage. While many free rental property management software platforms leave a lot to be desired, TurboTenant is pretty straightforward to use with a simple interface and setup.
While TurboTenant is free for landlords, tenants pay a fee of $45 for application and screening, a credit card rent payment fee of 3.49%, and an optional renters insurance monthly fee starting as low as $8. Landlords can purchase a few optional services for a one-time fee, such as state-specific lease agreements for $29, an unlimited number of electronic signatures for $9, and 32 common landlord forms for $99.
TurboTenant has several features designed to facilitate tenant management for landlords, including managing applications and screening tenants online, creating dedicated listing pages, and sending bulk tenant messages from one inbox. By integrating with Craigslist, Meta, Realtor.com, Rent.com, Apartments.com, and other rental listing sites, landlords can advertise a vacant property with a single click across multiple platforms.
You can then screen tenants through TransUnion, send and sign all documents online via the platform, and send payment and maintenance requests online. Payments are made through ACH with no fees or by credit card for a 3.49% charge.
Although it’s a free, cloud-based platform, it has been featured and praised by Reuters, USA Today, and Forbes. Considering there are over 400,000 landlords using their software, the reliability and support provided by TurboTenant’s online tools have been proven and endorsed since their founding in 2015.
The company’s strong reputation has earned them three rounds of venture capital investment from four different firms, totaling $10 million.
Condo Control Central
Condo Control Central is a unified property management software for condominiums. It comes with a comprehensive set of features that go beyond screening applicants, preparing their leasing agreements, and processing their rent payments. The platform also comes with a task calendar that helps managers get a better view of their day-to-day responsibilities as well as a file library that makes it easier to store important leasing documents. Moreover, it facilitates interaction among the management, tenants, and other stakeholders through its built-in communication tools. In fact, it comes with proxy voting tools that let you achieve a quorum at important meetings such as passing a new bylaw and amending declarations.
Try out Condo Control with their free trialVISIT WEBSITEFREE TRIAL
Condo Control Central also has quite a few auxiliary functionalities that make it easy to aggregate all the possible situations you might encounter in handling a condominium. These tools include package tracking, amenity reservations, event management, and security checkpoint management. Lastly, in case you still feel that this platform has limited features, Condo Control Central is built to integrate with various third-party payment gateways, accounting systems, security systems, and other software.
Key Features of Condo Control Central
- It is designed to help you fully digitize your property management processes for condominiums.
- It supports multiple types of online payment methods which makes transactions more convenient.
- It is equipped with strong security features and consolidates your security logs, key records, parking permits, entry requests, and the like.
- It has a dedicated online portal where managers can communicate with tenants and other stakeholders.
- It comes with automated package processing for recipients residing in your condominium.
AppFolio
AppFolio, popular among landlords with large rental portfolios, offers the best advanced features to control your units remotely, and additional support and resources to grow your business and maximize its efficiency.Pros
- Pay only for the features you need and use
- Supports all types of units
- Has a mobile app
Cons
- Has a minimum monthly fee
- Not fit for a small number of properties
Besides supporting all types of units, AppFolio has developed à la carte features a landlord would need to operate and grow their business remotely, earning our top vote for best for advanced features.
Because it doesn’t have tiered pricing, but rather an onboarding fee and then a monthly fee based on the number of units, AppFolio is best for those that have multiple properties. Although each advanced feature is pay-as-you-go, there is a minimum monthly fee of $280, which means smaller property managers would have to pay a higher cost per unit if they manage fewer than 166 commercial units or 200 residential rentals.
To set up an AppFolio account, you would need to pay a at minimum $400 onboarding fee, after which the cost of each property is as follows:
- Residential: $1.40 per unit monthly
- Commercial: $1.50 per unit monthly
- HOAs: $0.80 per unit monthly
- Student Housing: $1.40 per unit monthly
AppFolio supports multiple property types, including residential properties, commercial buildings, student housing, and community associations. Each of the features is designed for the specific property type you’re using, so AppFolio has everything a landlord would need—accounting software, rent collection features, maintenance requests, marketing tools for multiple platforms, utility billing, and customizable online leases.
Optional advanced features include a leasing assistant powered by artificial intelligence, professional websites for your properties, premium leads, tenant screening, insurance for landlords and renters, online payments, maintenance contact center, utility management, automated accounts payable, and tenant debt collections.
Founded in 2006, AppFolio has over a decade of experience in providing property management services to clients. Their property management software was the first product they developed, so it’s what they take the most pride in and continuously develop. With over $140 million in revenue in 2017 and an additional $60 million of investment in 2019, AppFolio is confirmed to keep developing and growing in the future.
Market Trends to Understand in Rental Management
Shift to online renting. This could be as simple as “it worked for the car rental industry,” but there are more layers to the trend in equipment rental businesses offering online catalogues and reservation capabilities. The age for digital B2B commerce is here, so it’s imperative that equipment rental business build their online presence.
Mobile. Providing mobile apps, or at least mobile-friendly websites, enables renters to quickly turn to your business to browse available equipment while in the field. And mobile customer portals to review current rental details and communicate with rental businesses offers a value add for renters while improving the chances of a business renting more or upselling equipment.
Internet of things (IoT). The innate mobility of rented lends itself well to GPS tracking tools. And the extreme costs of operating these machines (i.e., fuel, maintenance etc.) makes onboard equipment monitoring sensors a beneficial and welcomed addition for renters. The combination of these tools and the many mobile and wearable devices typically used in the field by renters creates a healthy ecosystem of connected devices, also know as the internet of things (IoT). The monitoring prowess of the IoT, especially as it relates to sensors in rented equipment provides a great value add for equipment rental businesses that very soon will become expected from many industries that rely on said equipment to complete jobs.
Conclusion
Small business property management software for vacation rental businesses is an essential to the growth and operation of a successful short-term rental enterprise. It is important that you understand how much time and money you can save by installing rental management software for small business, especially if you already have a vacation rental business or are considering opening one.
Rental Software for Small Business to manage customers, inventory and equipment. Create invoices and statements, track payments and print receipts. Easy to get started and use. A simple solution for small businesses.