Small landlord software is intended for landlords and property managers who are renting out their real estate for profit; in a nutshell, it’s a real-estate accounting software. Small landlords can install good landlord software to get rid of tedious tasks such as filling out paper work, calculating payments and expenses, credit card processing, etc. It allows business owners to monitor their finances in real-time and take full control over their properties.
There are many types of management software out there. If you are looking for one that will help you manage all areas of your property, then this article is perfect for you. It compares the features of landlord softwares so that you can make the best decision when it’s time to choose a platform for your small business.
Finding the best and free property management software for small landlords can be time-consuming and overwhelming. This article will show you the top best free property management software for small landlords with a brief description of each product and its major features.
Best Small Landlord Software is a web-based collection of applications for landlords that allows you to manage your rental property. Our property management software is the perfect solution for managing your rent rolls, tenant screening, maintenance and much more in one place.
Build a business case for property management software
Sometimes it’s difficult to get management to sign off on a new investment like software. But there are a few key property management software benefits that could help you get buy-in from your team:
- Faster lease signing. Automated vacancy postings and screening tools streamline the application process so that you find the best tenants and can have them sign leases quickly.
- Automation facilitates communication. Software provides a tenant portal that connects residents and landlords to conveniently contact each other about important information so that managers can focus on improving the business.
- Financial tools handle tedious tasks. Property management software has industry-specific tools to calculate common area maintenance (CAM) reconciliation or automate late fees.
BEST FOR INTEGRATIONSMRI Software
With over 175 solution partners and over 25 consulting partners, MRI Software gives users the flexibility to choose what they need to facilitate the work of accountants and bookkeepers, making it the best choice if integrations are important to you.Pros
- 175+ solution partners and 25+ consulting partners
- Pay only for what you use
- Reliable company with a long history
- More fit for commercial users
- No predesigned packages
To simplify and streamline the whole accounting process, MRI has partnered with over two hundred companies, each designed to provide a financial solution that meets the unique requirements of each management firm, making it best for integrations.
MRI Software doesn’t have specific pricing tiers or a free trial version. As you can add over 175 integrations and features, the cost can vary.
The list of MRI Software’s features is lengthy: online rent collection, maintenance requests, tenant screening, multifamily insurance, resident communication, investor relations, rent tracking, compliance solutions, credit risk management, and more. This integrated accounting software can grow with you as your needs change through its Partner Connect program. Through this program, you can add third-party tools for AP automation, debt collection, electronic payments, and more.
Because of the many features and the option to add additional tools, commercial users would be able to optimize MRI Software as well as their partner relationships.
MRI Software has been in business since 1971, a testament to its reliability and expertise in providing a variety of services to clients across different industries.
Hemlane is designed for rental property management and offers unique features such as being able to match you with local agents. If you’re uniquely concerned with placement, Hemlane is worth considering for its leasing tools.
However, it’s one of the most expensive options on this list, so you’re paying more for those extra features.
- Good leasing tools such as tenant screening
- Other useful local support features
- Work order management
- Online rent payments
Hemlane’s pricing starts somewhat affordable but quickly escalates at a $2 per unit pricing model.
Their Basic plan starts at $30 per month with $2 per unit additional after the first. That means if you manage even 20 units, Hemlane will be $70 per month.
Their premium-tier Complete plan starts at $60 per month but costs $32 per property after the first.
Hemlane’s enterprise pricing model comes partly due to its unique on-location support features, which other rental property software solutions don’t offer.
Chances are, these might not be useful to you. However, to those that find such local support invaluable or necessary, Hemlane is worth considering.
Hemlane offers a 30-day free trial, so you can try it out for free.
TenantCloud is one of the most affordable tools on this list, partly because it offers a 100% free plan up to a surprising 75 units.
However, depending on what features you’re looking for, you’ll find TenantCloud lacking many useful features that come standard in other tools unless you move up to one of their premium plans.
- Work order management
- Online rent payments
- Insurance reminders
- Vendor payments
TenantCloud is unique in that it offers a 100% free basic tier plan for up to 75 units.
The number of units included is impressive, though the plan lacks several essential features that make it a difficult fit for anymore with more than just a few properties.
Their lowest-level paid tier includes up to 150 units at $9 per month, and their premium tier includes up to 500 units at $35 per month, as well as their entire suite of features.
Rentec Direct is a long-time player with all-around solid features, a mobile app, and multi-user access.
Its feature list is one the most robust of any tool on this list, but it’s also less intuitive, and the interface feels a bit dated and hard to navigate.
- Mobile app
- Work order management with tenant maintenance requests and vendor payments
- Tenant screening and lead tracking
- Built-in tenant communication, including SMS text and email
- Robust reporting
Rentec Direct pricing
Rentec Direct has competitive pricing, with their basic Rentec PRO plan starting at $35 per month, though it only covers ten units.
Additional units won’t cost you much, though, with 50 units costing just $55 per month up to 500 units at $450 per month.
In addition to their basic pricing tier, Rentec offers a tenant screening add-on for between $7 per month with their Basic Screening Package up to $15 for the Premium Screening Package.
Best accounting software for landlords that offers the best customer support
Rentec Direct offers users one of the best customer support systems out of the landlord accounting software we reviewed based on knowledge, responsiveness, and availability.
Ease of use:
Rentec Direct is another software program that is very user-friendly, even with its modern integrations. You don’t need any accounting or business background to operate the software.
The process for managing monthly rent collection and on-time lease renewals is very transparent. Onboarding new properties and tenants is very straightforward. Not only is it user-friendly for owners but tenants as well. Tenants have their own portals they can use to check their balances and make payments.
Rentec Direct has all the bells and whistles when it comes to its features. The software has a lot of modern integrations, such as online rental payment, online rental applications, and electronic signatures for lease agreements.
It has a useful feature where it screens potential tenants. You can order tenant screening reports, such as rental background checks and credit reports. There are built-in marketing tools where your property listings will automatically populate to your website and publish your rental property and property vacancies.
Other standout features include:
- An API for integration into in-house solutions
- Archiving and retention capabilities
- Automatic backups
- Cash flow management
- Applicant tracking
- Approval process control
- QuickBooks integration
- Real-time analytics and data
- Secure login and data storage
- URL customization
- Administrative reporting
- Advertising management
- Credit card management
- Deadline management
- Image library
- Income and balance sheets
Their customer support is above and beyond the other software programs we reviewed here. What stands out is their quick response time. Their support team is extremely responsive and will help you with any issues you are experiencing.
It doesn’t matter whether you call or email, you will get a response right away. They know their product inside and out and are extremely helpful. Their support system includes email, help desk, FAQs, a forum, an extensive knowledgebase, phone support, chat, live online help, webinars, documentation, and videos.
Pricing starts at $35 per month. You can try Rentec Direct out with a free trial period.
Most affordable accounting software for landlords
Stessa offers users one of the most affordable software packages on the market. It is a free platform that offers optional premium services, such as mortgage financing, rent analysis, and market research for a fee.
Ease of use:
The software is user-friendly and intuitive, with visually appealing dashboards that merge analytics and puts everything right at your fingertips. The software walks you through property setup one question at a time. Once the property profile is set up, you can connect the profile to your business bank account and transactions will automatically upload.
Even though Stessa is the most affordable, the developers have not skimped on any of the features. Some of the key features include:
- Cash flow management
- Document storage
- Real-time data
- Sales forecasting
- Personalized dashboard to monitor key metrics
- Apps to scan invoices and receipts
- Automated expense tracker that categorizes and consolidates loan and bank transactions
- Tax ready financial reports
Their customer support is very helpful. You can get in touch via email or chat, and they also have an extensive knowledgebase.
They offer a free version and a free trial. There are optional premium features for a fee.
Competitive advantages of using property management software
Whether managing a single apartment complex or dozens of commercial facilities, property management software provides the functionality needed to handle daily tasks, letting a landlord focus on their business in other ways:
- Grow your business. Automation, such as built-in tenant screening to find the best residents or renters, allows a property manager to spend more time marketing properties and managing applicants. Marketing tools give users the ability to post vacancies to various sites, such as Craigslist or Apartments.com, with just a few clicks.
- Offer increased convenience. With an online tenant portal, residents can pay rent any time of day, which adds convenience for them and makes rent collection easier for landlords. In addition, the portal opens a line of communication amongst tenants and office and maintenance staff, so everyone can be quickly notified about important announcements.
- Gain financial oversight. Reporting and analytics tools help landlords gather financial, tenant, or marketing data to identify trends that could be harming their business or opportunities to make improvements.
If you are a landlord it is hard to manage your property. There are many things you have to do as a landlord, especially collecting rent and paying bills. Everyone knows that computerization is an incredibly strong trend and most new landlord software applications will help you to keep control, and save time and money. Small landlord software is known to be one of the most successful small business software solutions around. Small landlords need a good property management and accounting software that can help them run their business easily and efficiently. Small landlords who want to go professional must look for best landlord software available in the market so that they can feel confident about their processes.
There are many landlords who would love to invest in property but they don’t know-how. Real estate may seem like an intimidating purchase but it doesn’t have to be. There are plenty of landlords making a great living off of their rental homes and there are lots of software programs that can help you find the best tenant, automate your rent collection, and connect you with tenants and other landlords in your local area.