Managing rental properties is easier than ever with advanced property management software. From mobile-first tools like Landlordy to robust platforms like Buildium, these solutions streamline rent collection, tenant communication, maintenance tracking, and financial reporting. Here are 10 best property management software for small businesses.
In 2024, the United States is home to an estimated 326,000 property management companies, managing a vast portfolio of 19,341,000 rental properties nationwide. Notably, around 70% of these rental properties are owned by individuals rather than businesses.
Among the professionals in the field, women dominate, making up 61.9% of U.S. property managers. The country has approximately 124,866 property managers overseeing the diverse needs of property owners and tenants.
Managing rental properties, even for small businesses, can be a daunting task. From rent collection to tenant communication, maintenance, and bookkeeping, the list of responsibilities can quickly become overwhelming. Fortunately, property management software provides an effective solution, streamlining operations and making property management far more efficient.
In this article, let’s explore the benefits of property management software, key features to look for, and the ten best options available for small business.
What is a property management software?
Property management software is a specialised platform designed to simplify and automate the management of rental properties. These tools cater to landlords, property managers, and real estate professionals, helping them oversee multiple properties, handle financial transactions, communicate with tenants, and track maintenance tasks with ease.
By integrating features such as rent collection, document management, and tenant communication, these software solutions enable small businesses to efficiently manage their properties while saving time and resources.
Benefits of property management software for small business
- Time-saving automation: Tasks like rent collection, lease renewals, and maintenance requests are automated, freeing landlords from tedious manual work and allowing them to focus on higher-level property management goals.
- Improved tenant communication: Streamlined communication through built-in messaging tools ensures timely responses to tenant inquiries and promotes better tenant relationships.
- Simplified financial management: Secure platforms for online rent collection, expense tracking, and detailed financial reports provide landlords with a clear view of their property’s profitability.
- Organised documentation: Centralised repositories for lease agreements, inspection reports, and other documents minimise the risk of misplacing critical information.
- Enhanced maintenance tracking: Efficient maintenance management, including tenant-request portals and task scheduling, keeps properties in excellent condition and reduces costly repairs.
- Scalability and accessibility: Many platforms are designed to grow with landlords, accommodating additional properties and allowing remote access via mobile apps.
Features of an efficient property management software
- User-friendly interface: An intuitive design ensures quick adoption and efficient workflows.
- Customisable reports: Tailored financial and operational reports enable better decision-making.
- Integration capabilities: Compatibility with existing tools, such as accounting software, enhances functionality.
- Scalability: The ability to manage multiple properties as your portfolio grows.
- Customer support: Reliable help for technical or operational issues is essential.
10 best property management software for small businesses
- Landlordy
Landlordy is specifically designed for small businesses who prefer managing their properties on mobile devices. It is a lightweight yet efficient app that integrates seamlessly with your smartphone, making it a great choice for landlords who need flexibility and mobility.
Key features:
- Lease and expense tracking: Easily monitor rental income and associated property expenses.
- Tenant management: Maintain records for tenants, including payment history and lease terms.
- Mobile management: Allows you to perform all tasks via a dedicated app, such as sending invoices and storing receipts digitally.
Pricing:
Landlordy offers a free plan for a single property. Paid plans (Mini, Plus, and Pro) include enhanced features and require a one-time payment rather than recurring subscriptions.
- TenantCloud
TenantCloud provides an all-in-one platform for property management. It is particularly suitable for small businesses who want to streamline rent collection, tenant screening, and maintenance tracking.
Key features:
- Online rent payment: Tenants can pay securely online, ensuring timely rent collection.
- Maintenance requests: Tenants can submit requests via a portal, simplifying task assignment and resolution.
- Google Calendar integration: Sync tasks and appointments to stay on top of lease renewals and inspections.
Pricing:
TenantCloud offers both free and paid plans. Paid plans are priced monthly and scale with your needs, making it cost-effective for small-scale landlords.
- DoorLoop
DoorLoop is a robust solution for landlords managing diverse property portfolios. It includes advanced tools for marketing, performance tracking, and detailed reporting, catering to both residential and commercial properties.
Key features:
- Property listings and vacancy management: Market vacant properties effectively.
- Custom reports: Generate detailed insights into property performance, tenant activity, and finances.
- Mobile accessibility: Manage properties through a user-friendly app available on iOS and Android.
Pricing:
DoorLoop offers flexible pricing plans that cater to small and large landlords, ensuring scalability as your portfolio grows.
- Buildium
Buildium is a cloud-based software widely used for managing residential, commercial, and student housing properties. Its comprehensive features make it a strong choice for landlords managing more than a few properties.
Key features:
- Online rent collection: Automate payments to ensure timely receipts.
- Maintenance contact centre: Submit and monitor maintenance requests in a single interface.
- Built-in accounting tools: Track financial transactions and generate reports for tax preparation.
Pricing:
Buildium offers three tiers of paid plans, providing scalable options to accommodate varying business sizes and requirements.
- AppFolio
AppFolio is designed with scalability in mind, offering a per-unit pricing model ideal for small businesses who may expand their portfolios over time.
Key features:
- Online payment integration: Manage rent payments and track expenses with ease.
- Comprehensive tools: Includes maintenance tracking, tenant screening, and vacancy marketing.
- Financial reporting: Provides a detailed analysis of income and expenses.
Pricing:
Plans are charged per unit, allowing small businesses to pay only for what they use. This flexibility ensures affordability and scalability.
- Stessa
Stessa is aimed at real estate investors and landlords seeking detailed property performance analytics. It offers unique integrations with financial tools to help you manage and track your investments.
Key features:
- Income and expense tracking: Monitor cash flow and categorise expenses.
- Integration with QuickBooks and TurboTax: Simplifies accounting and tax preparation.
- Real-time insights: Provides dashboards for real-time property performance.
Pricing:
A free plan is available for basic use, with an optional paid plan for expanded features.
- Landlord Studio
Landlord Studio is a mobile-focused property management tool designed for landlords who need accessible accounting and management features.
Key features:
- Rent and financial tracking: Log payments and generate financial reports.
- Tenant communication: Screen tenants and maintain communication via the app.
- Maintenance management: Assign and track repair tasks.
Pricing:
The Go plan is free for managing up to three units. The Pro plan offers a 14-day free trial and additional features for a nominal subscription fee.
- Avail
Avail simplifies tenant acquisition, rent collection, and property management for small businesses. It offers tools for managing all aspects of tenant relationships.
Key features:
- Custom lease templates: Create state-specific leases to ensure compliance.
- Online rent payments: Tenants can pay rent and security deposits online.
- Maintenance ticketing: Accept tenant requests and track repair progress.
Pricing:
Avail has a free plan for basic features and a premium plan for landlords needing advanced functionality.
- Rentec Direct
Rentec Direct is a comprehensive platform that centralises operations for managing residential and commercial properties.
Key features:
- Tenant communication: Streamlined communication tools enhance tenant relations.
- Online rent collection: Securely accept payments and monitor transactions.
- Accounting integrations: Syncs with third-party tools like QuickBooks for advanced financial management.
Pricing:
Pricing is based on the number of properties and can be calculated using Rentec Direct’s interactive pricing tool.
- SimplifyEm
SimplifyEm is a straightforward yet powerful property management software ideal for landlords with smaller portfolios. It is easy to use and provides essential tools for effective property management.
Key features:
- Tenant screening: Find reliable tenants through integrated background checks.
- Expense categorisation: Simplify bookkeeping with detailed expense tracking.
- Compliance support: Stay informed about legal requirements and best practices.
Pricing:
SimplifyEm offers flexible plans, starting at affordable rates for landlords managing up to 30 units.
Final thoughts
Property management software offers small businesses a powerful way to streamline operations, enhance tenant satisfaction, and maximise property performance. With a wide range of solutions available, choosing the right platform depends on your unique needs, portfolio size, and budget.
Whether you prefer mobile-first options like Landlordy and Landlord Studio, or robust platforms such as Buildium and DoorLoop, there’s a solution to suit every landlord. By adopting property management software, small businesses can save time, increase efficiency, and focus on growing their rental property business.
Himani Verma is a seasoned content writer and SEO expert, with experience in digital media. She has held various senior writing positions at enterprises like CloudTDMS (Synthetic Data Factory), Barrownz Group, and ATZA. Himani has also been Editorial Writer at Hindustan Time, a leading Indian English language news platform. She excels in content creation, proofreading, and editing, ensuring that every piece is polished and impactful. Her expertise in crafting SEO-friendly content for multiple verticals of businesses, including technology, healthcare, finance, sports, innovation, and more.
