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Acquiring your first few rental properties can seem daunting, but the magic of computing has created property management software for small landlords.
There’s nothing “small” about being a real estate investor, especially a landlord. But, whether you have a single rental house or a portfolio of hundreds of apartments, you have taken a rarified step toward your financial legacy.
Many rental property management software solutions exist to help small-portfolio landlords run a tight ship, freeing up time for those landlords to either:
- Keep their day job.
- Look for more properties to add cash flow to their financial freedom plan.
With the right rental property software solution, you may not even need to take on the expense of a property manager before you need one. And most likely, other property management companies are already using these management software tools to run their business.
So which app should you choose? Here are our picks for the three best rental property management software for small landlords.
Cost: Free (with one-time extras)
If you want a solution that is always free, TurboTenant is a free property management solution to try. Other solutions offer a free trial period or a free limited service suite, but TurboTenant remains free for landlords bypassing the minimum monthly fee to the tenant.
Maybe that’s not the kind of landlord you want to be, but it’s worth a look with over 400,000 users, $10 million in VC funding, and praise from Forbes and Inc.com.
Maybe “freemium” is the better term. TurboTenant offers a variety of extras for one-time fees, including state-specific lease agreements (one-time $29 fee) and unlimited electronic signatures (one-time $9 fee).
- Free for any number of rental units
- 24/7 customer support
- Perfect for DIY landlords
- Few advanced management software features
- All fees are passed on to tenants.
- 14-day free trial
- Cloud-based platform
- Collect rent automatically
- Full-featured property management software
- Integrates with TransUnion, Apartments.com, Apartment List, Forte, HappyCo, Lovely, RevSpring, Nelco, MSI, Tenant Turner, PayNearMe, HotPads, Zillow, Trulia, and Zumper
Cost: Starts at $50 per month
Buildium is a comprehensive property management software solution designed by property managers to be an all-in-one remote platform for rental operations. Its automation makes it easy to manage tenant relations from prospect to lease to the termination, which quickly adds Buildium as one best landlord software.
For example, the tenant portal allows tenants to pay rent and create support tickets, while the back office makes it simple to keep the books and generate reports through this property management platform.
- Most robust selection of features
- The more units you acquire, the lower the cost
- Online ticket support
- Automated rent collection
- Extensive library of training materials
- Works best with more than one unit
- Some learning curve
- Inconsistent customer support
- Online rent collection
- Tenant screening
- Maintenance request tracking
- The software allows document storage
- Automation of repetitive tasks
- Renter’s insurance portal
- Income and expense tracking
- Financial reporting
- Phone and email support
Cost: Starts at $25/month (fewer than ten properties)
SimplifyEm offers robust property management automation features at an excellent price. Only $25/month for the first ten properties.
It’s ideal for small-portfolio landlords just starting. Still, rental property owners can manage a portfolio of up to 2,000 units with SimplifyEm so that it can grow with you.
- Suitable for portfolios between 1 and 2,000 units
- Easy to learn
- Many advanced features
- Can’t expand beyond 2,000 units
There are numerous landlord software systems to choose from. Fortunately, any one of these online property management services can be counted as a top property management tool to help you get started.
These features include rent collection, maintenance requests, and automatic late fees. So whether you choose to pay a monthly fee or choose a free plan, you’ve got options!