As the market for DIY solutions expands, landlords searching for the best property management software in 2024 will have a wide range of options to consider.
Some come with a slew of free features, while others offer pricing tiers scaled to the number of units managed. Either way, choosing the best software for your needs is critical to starting on the right foot.
To help you along your journey, we examined the top property manager software options available today by accounting for the breadth of features each individual software presents, its pros and cons, and reviews.
Landlords new to property management software might not see the value in a solution if they have to pull out a credit card just to use it. With TurboTenant, you can sign up for a free account to get a feel for the platform risk-free.
A free account gives you access to:
And with the landlord app, you can manage your properties on your phone while seamlessly communicating with your tenants from anywhere. It’s an easy way to stay connected and productive while on the go.
After experiencing the benefits of TurboTenant’s free version, you may choose to upgrade to our Premium offering. With it, you’ll gain access to a comprehensive landlord forms pack, lawyer-reviewed leases for every state, and reduced ACH and tenant screening fees.
This cost-effective solution is a steal compared to hiring a property manager.
If you manage a large number of doors, the solution for you might be AppFolio.
You’ll see why after examining its Core tier. In the Core tier, each unit costs property managers $1.50 to manage, with a minimum monthly spend of $298. The cost includes access to:
Ultimately, however, AppFolio’s focus is on providing software for large-scale property management companies that work with a range of property types, from multifamily, student housing, affordable housing, and commercial real estate.
To access affordable housing features, you’ll need to step up to its Plus or Max tiers. Plus starts at a minimum of $960 a month. That price includes access to advanced leasing metrics, corporate accounting, flexible reporting, and bulk actions.
To get everything AppFolio offers in the Max tier, you’ll have to spend $7500 a month minimum. For a deeper look at how TurboTenant compares to AppFolio, click here.
While AppFolio’s focus appears to be on large-scale property management companies, Buildium seems to be aimed at small—and medium-scale property managers who work with HOAs and similar organizations.
This distinction is reflected in its pricing tiers. Buildium’s Essential tier starts at $55 a month and scales to $375/month for its Premium option. It’s a far cry from the upper levels of AppFolio’s pricing.
For the listed prices, landlords can manage up to 20 units. More units drive the cost up in every tier.
Once paid, investors who choose Buildium will find access to the most critical features included in the property management software segment.
Features you can expect include:
However, you’ll need to pay additional charges to access new client leads, and it costs $99 for each bank account you link.
Check out TurboTenant vs. Buildium for more.
If you want to company that puts a lot of emphasis on accounting in their core product, then Landlord Studio might be a good fit.
That’s not to say LandLord Studio doesn’t offer a range of property management tools. You’ll find:
After looking over their feature set, you find what you’d expect from property management software, but it’s clear that Landlord Studio empasizes accounting functionality.
In their Go tier, which is basically the entry level, Landlord Studio includes a feature you won’t find in the others: a free GPS mileage tracker to help you calculate your mileage at tax time.
Upgrading to the Pro tier allows you to manage three units for $12 a month. Every additional unit costs a dollar. Most interestingly, however, LandLord Studio features automated bank syncing that can automatically suggest expenses pulled from your bank account.
It’s not as much of an all-in-one solution as the others, but it’s worth a look if you’re a small landlord focused on accounting.
TurboTenant has all the features you need to manage your properties from a single location. As you grow your portfolio, you can hire a property manager to keep everything in order or confidently do it yourself from your computer or phone.
Manage your properties yourself for a fraction of the cost with TurboTenant. Sign up today!
Depending on the solution you choose, the right rental software could cost you nothing. You’ll have to consider your specific needs to determine whether choosing software with a hefty up-front fee will provide the tools you need to manage your properties effectively.
If you want to streamline your operations immediately without needing payment, try TurboTenant.
Property management software facilitates the streamlined management of rental properties by offering lease and tenant management tools, maintenance tracking, and financial oversight. It provides a centralized platform for organizing lease agreements, handling maintenance requests, and tracking rental income and expenses. Additionally, it often integrates online portals for tenant communication, allowing for efficient rent collection and maintenance coordination.
Software that integrates with QuickBooks includes Buildium, Rent Manager, AppFolio, Propertyware, DoorLoop, and Yardi. Although QuickBooks is the most popular accounting software, it lacks many features that rental property owners find especially useful, such as the ones that REI Hub has tailored for landlords.
Cloud-based property management software operates on remote servers, so you can access it from anywhere with an internet connection. It provides tools for lease management, maintenance tracking, and accounting within a centralized online platform. By leveraging cloud technology, property managers can streamline operations, improve accessibility, and benefit from automated updates and data backups.
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