Property Management Software

Property management software is a digital platform that provides a centralized place for landlords and property managers to collect rent online, handle maintenance requests, track finances, create leases, and more. For landlords and property managers seeking a better way to simplify their rental business, rental management software is an efficient and affordable solution.

TenantCloud's platform automates daily tasks for small, medium, and large portfolios. Its cloud-based system helps landlords save time and money by eliminating unnecessary add-ons and third-party apps. Capterra ranks TenantCloud among the best real estate property management software available today. Try it free for 14 days.

If you want to eliminate manual workloads, software streamlines your everyday tasks, saving landlords and property managers both time and money. Platforms like TenantCloud simplify administrative, marketing, and rental operations by centralizing tools all in one place. Features like property listings, digital leases, electronic signatures, online rent payments via credit card, debit card, or ACH, and maintenance requests help reduce time spent on manual tasks and boost profitability.

Any landlord or property manager who wants to efficiently manage their rental properties and keep tabs on important tasks like accounting may benefit from property management software:

Landlords and Property managers: With rental management software, landlords and property managers can collect rent online, store important rental information, upload property photos, manage maintenance requests, use automatic accounting features, accept online rental applications, sign lease agreements with e-signatures, create financial reports, communicate with tenants and team members, advertise rental vacancies across multiple rental websites, and more. Having the right tools can improve efficiency, whether you manage apartments, single-family houses, or multi-family rentals.

Tenants: In addition to searching for a rental property, tenants can pay rent online, request maintenance, apply for properties, sign lease agreements online, report their rent payments to credit bureaus, contact their landlord, and view their rental history.

Owners: Owners can access their property data, track finances, receive communications, and exchange funds with property managers.

Service Professionals: Many service professionals, from plumbers to contractors, can use property management software to receive maintenance requests from landlords, update repair statuses for landlords, and receive payments.

• Online Rent Collection & Income Tracking: Comprehensive rent collection and income-tracking with automated late fees, invoices, and reminders.
• Tenant Screening & Leasing: With as many as 42.9 million or 34.5% of U.S. households rent their homes, tenant screening can help you find the best tenants. Credit checks, criminal background checks, rental history verification, and income insights are helpful tools for making the right choice.
• Leads Tracking Tool: Handle potential tenants at every stage, from inquiries to screenings to move-in.
• Customizable Reports: Generate custom financial and tax reports, such as 1099 Tax Form, Rent Roll Report, Rentability Report, and Profit/Loss Statements.
• Landlord Forms: Lease agreements, rent increase notices, addenda, and other important paperwork can often be handled with landlord software. These documents are necessary for landlords, property managers, and owners since they streamline chores and ensure compliance with local, state, and federal laws governing landlord-tenant relationships.

The best rental property software for your business depends on your workload, budget, and the number of properties you manage. For growing and beginner portfolios, TenantCloud is highly recommended, providing a balance of property management tools like rent collection and tenant screening, as well as accounting tools like reconciliation and tax reports.

Property management software can cost as little as $0 per month for basic features or as much as $1000+ for comprehensive solutions. Typical pricing models include a flat monthly fee and/or a per-unit price. Smaller portfolios can expect to pay an average of $60 per month, while mid-sized and large portfolios may require $200+ plans to fit their needs.

Other costs to consider include:

• Tenant screenings (per screening prices)
• Processing fees for online payments
• Onboarding fees

To compare cloud-based property management software, first set your criteria based on your rental business needs. This should include the number of units you manage, the key requirements, and the level of sophistication your workflow setup needs.

Then, compare these features:

• Mobile & User Experience: Look for a mobile-friendly design if you’re on the go, overall usability for you and your tenants, and any integration capabilities, such as Google Calendar.
• Accounting & Payments: Features such as automated payments, rent reminders, expense tracking, bank reconciliation, and reporting are beneficial.
• Leasing & Applications: Integrated tenant screening, leasing, and esignatures speed up the application and approval process.
• Tenant Communications: Managing several units can get complex without a dedicated messaging system.
• Maintenance, Teams, Calendars, and More: Compare other built-in features, such as maintenance portals, team functionality, and task calendars, to ensure they meet your needs.

Narrow it down to your top 2 or 3, then start a free trial (if applicable) to compare usability.

Property management software typically offers a variety of tools to streamline rental operations. While the complexity of each tool varies, these are typically included:

• Accounting
• Tenant screening
• Online rent collection
• Leasing
• Reporting tools
• Separate owner and tenant portals
• Maintenance management
• Listing and marketing features

Other features like document storage and digital signatures may also be included, depending on the subscription package and product.

Property management software solves many problems, making a property manager's daily routines more manageable and streamlined. Here are just a few issues that property management software solves:

• Automate Rental Invoicing and Collections

These tools allow landlords to get paid quickly and easily with the help of online rental payment tools. Tenants can pay rent instantly from their phones using the TenantCloud app. Keeping records online makes it easier to track payments from each tenant and automatically create financial reports.

• Improve & Streamline Tenant Screening

With the help of a tenant screening report powered by TransUnion, landlords can determine whether a candidate is a good fit for their property. The more information you have, the safer your rental home and business will be.

• Resolve Issues More Efficiently

With maintenance management functionality, you and your tenants can communicate and assign work directly to service pros through the software, making maintenance requests simple and quick to create and resolve.

• Access Detailed Insights

With on-demand rental reports, you'll have the data you need. Running community analytics with property management software will allow you to check on every aspect of your business. TenantCloud automatically calculates things such as your gross income, operating expenses, non-operating expenses, net income, and much more.

• Effectively Advertise Your Rentals

Every TenantCloud property owner can create a listing website to promote vacancies and showcase properties to potential tenants. Create a portfolio, add property images to the gallery, and customize rental applications.