When it comes to accumulating and managing your investment properties, the last thing you want is an outdated management software hampering their performance. I know this from experience, which is why I constantly measure my property management software against developments in the real estate industry. I am always on the look out for the latest versions of property management accounting software since the quality of the software is what determines how efficient the results are for all my properties. This is true as far as small, apartment property management software goes, as well.
This is a customizable property management solution designed to assist property managers in the day-to-day tasks of property management. The solution is integrated with tools to manage custom listings and contracts, set up accounting and finances, design custom reports, and maintain resident portals.
Property management accounting software is a great option for you if you want a comprehensive and cost-effective software for handling day to day tasks. But finding the best small property management software can be tough, especially if you don’t know what to look for. That is why we have come up with this list of top small property management software.
In spite of the growing needs for such software, there are many property management software companies that provide the service for free. The best small property management software will take care of your day-to-day tasks like accounting, marketing and budgeting.
Who Should Use Rental Property Management Software?
Beginning investors with small rental portfolios (fewer than 10 units) and large commercial property management firms can use rental property management software. Different companies create software with specialized features that work best for certain categories of landlords, property types, and portfolio sizes. These programs can be useful to a DIY investor, as well as to a team of users made up of owner, property manager, facility maintenance, and leasing agent, to name a few.
RentRedi
RentRedi is a good option for small landlords as they have a smartphone version that’s easy to take with you while offering an affordable $20 monthly plan with an unlimited number of units.
However, it’s important to note that users report that RentRedi can be inconvenient to use regularly if you have more than a few units, particularly when you’re trying to manage multiple tenant payments.
Features are also limited compared to the more comprehensive software on this list, though it offers a decent place to get started.
Features include:
- Mobile app
- Rent payment tracking
- Tenant portal
RentRedi pricing
RentRedi has an affordable pricing model starting at $19.95 for an unlimited number of units, though with limited features.
Unlike most of the options on this list, however, they don’t offer a free trial version. So, you’ll need to invest in the first month to see how you like it.
Rentec Direct
Rentec Direct is a property management tool with a large set of features and a great pricing model.
It has one of the most comprehensive sets of features of any option on this list. Their accounting features, in particular, are diverse, including everything from online rent payments to robust reporting tools.
However, users report Rentec’s interface is hard to navigate and find what you need, making it a bit of a pain to use on a regular basis.
Features include:
- Good accounting features
- Work order management
- Tenant communications tools
- Owner portal
Rentec Direct pricing
Rentec Direct’s pricing starts at a base of $35 per month for up to 10 units, with pricing increasing based on a tiered model.
For up to 50 units, you’ll $55 per month, 100 units for $90, and all the way up to 500 units for $450 per month.
TenantCloud – for Landlords who want a Free Property Management Software
TenantCloud is one of the most popular property management software in the industry. That’s not surprising, considering that you’re getting property management software free of cost.
| Cost | Free up to 75 units. |
| Mobile app | Yes. |
| Free trial | Yes. Unlimited free trial for up to 75 units. |
What TenantCloud can offer you
- Online payments
- Full accounting
- Maintenance requests & equipment tracking
- Rental agreements, notices & e-sign
- Lead generation
- On-demand printable reports
- Renters insurance tracking
- Automatic listing syndication
- Vacancies marketing
- Online rental applications & tenant screening
- Contacts management
Where TenantCloud is a winner
Absolutely free
You won’t have to pay a dime to get access to this software. You’ll be able to communicate with your tenants and keep track of your property professionally, and that’s more than we could ask for from a free service.
The paid version is cheap
Automatic online payments for up to 150 units? That’s pretty much the best pricing we’ve seen throughout the market and it’s worth getting. Seeing that the free trial doesn’t have a time limit, you could easily work with the software until you feel sure that you want to step things up and move to the premium version – no pressure!
Free website
Just like Rentec Direct, TenantCloud offers you a free website where you can publicize your business and grow your client base.
Great interface
Most free software have this old-school look and feel, but TenantCloud doesn’t fail to impress whatsoever. The interface is smooth and easy to understand.
Where TenantCloud falls short
The app isn’t as good as the browser software
It’s hard to pick on a software that’s available for free, but it could definitely improve its mobile app. You’ll have a much better experience with the browser version, and a lot of users prefer working with their mobile apps instead.
No phone support
If you have any issues with the software, you’ll have to go through a ticketing system, which might be frustrating for some users.
Tenant screening is expensive
Tenant screening will cost you $25 a pop, which is pretty high in comparison to competing software.
The paid version has limited templates
Even if you sign up for the $9 a month service, you’ll still be limited to 30 templates for communicating with your tenants. While 30 should be enough for most, if not all, of your basic needs, we’d be happier if TenantCloud didn’t put a cap on it for premium customers.
Our verdict on TenantCloud
TenantCloud is the perfect solution for landlords who want a barebones structure to lean on as they manage their rental property. You’ll be able to communicate with multiple tenants comfortably.
This software’s paid version is also quite worth the money as it comes with valuable features. The only downside is that additional services like tenant screening are quite expensive. If these services are a must, then we suggest sticking to other software on this list, like Landlord Studio.
SimplifyEm
Designed by real estate professionals, SimplifyEm offers the ideal balance of price and features, making it the perfect choice for landlords that need help managing a few properties and don’t want to pay the high cost of other software plans.Pros
- Supports one to 2,000 units
- Designed by real estate professionals
- Has advanced features
Cons
- High fees for online rent payments
- If you have more than 2,000 units, the platform can’t grow with your portfolio
While SimplifyEm supports any number of units from one to 2,000, it’s the best fit for a few properties, because you can keep your costs as low as $20 per month if you’re starting out with fewer than 10 properties.
The price starts at $25 per month for 10 units and increases by $10 for every 10 units after that. At 50 units it is $60, increasing to $75 for 75 units and 100 for $100 units. You can create a free 15-day trial account without needing to enter a credit card. It does not require a dedicated professional to manage this platform. Independent property owners should find this accessible regardless of their experience.
All packages include email and phone support, income and expense tracking, tenant and lease management reporting, and renters insurance.
SimplifyEm is designed to give a simple and easy way for landlords to manage their properties while also saving time and money. It allows users to track income and expenses, collect rent and tenant applications online, screen tenants, generate and analyze owner reports, track maintenance requests, store documents, and automate repetitive tasks. You can get started immediately because it is cloud-based.
SimplifyEm integrates with some of the leading names in the finance and real estate industry, including Zillow, Trulia, NARPM, ACH.com, Fidelity, TransUnion, and more.
Founded in 2006, SimplifyEm has a goal of utilizing the latest in user experience and web technology to develop a software solution that meets the needs of busy real estate professionals. With almost 15 years of experience and clients across the U.S. and Canada, SimplifyEm has been used to manage over $42 billion in property assets and has been verified by Authorize.net and GeoTrust, with high ratings from Software Advice and Capterra.
How Much Does Rental Property Management Software Cost?
Most property management software programs charge between $1 and $2 per unit under management. It’s important to note when you’re shopping for a program, most providers will charge you a monthly minimum fee, usually in the $200 to $250 range, even if you don’t have enough properties to warrant that high of a fee. Most programs charge the landlord team, but TurboTenant is a notable exception, pushing its costs onto the tenants. With TurboTenant, and almost all other property management software companies, there are also optional features for both the landlord and the tenant to pay for and use.
Conclusion
Small property management software options are available for even the tiniest of operations and can run the gamut from best free property management software to online accounting software to specialized property management accounting software.
Software to manage a real estate business or other investment properties is among the most popular types of software. In fact, there are several options, allowing for different levels of investment for anyone involved with owning or renting out property. There are a number of systems which are particularly useful for small businesses and individual consumers as well as many others targeted towards commercial companies with many properties. All of them offer features that can help to streamline various aspects of managing real estate.