Did You Know? The Best Property Management Software for Self-Managing Landlords
Property management is a major undertaking for small-scale owners. Here are two of the most popular free/low cost all-in-one software services to self-manage your properties, market your available units, send and sign leases, manage maintenance and accounting, and stay organized with your tenants.
Can’t justify a dedicated property manager to service your properties? Here are some tools that can serve as an alternative.
Top Free Option - Avail.co
Avail.co has an easy user interface and the perfect set of management tools for most landlords.
Avail.co provides a comprehensive set of tools and services designed for owners self-managing their rental properties. What we liked best is the abundance of free features; a landlord can easily accomplish most management tasks under their free tier. Certain features like custom leases, property websites, and faster/fee-free rent payment processing can be obtained for a small monthly fee per unit managed. Avail.co provides users with a desktop and mobile app interface, making management possible at home or on the go. Here's a breakdown of the key features:
Advertise and Fill Vacancies Efficiently:
Create and publish rental listings on top rental listing sites with step-by-step guidance.
Manage communication with potential tenants directly through the app, schedule showings, and request rental applications.
Tenant Screening and Renter Profiles:
Request credit, criminal background, and eviction reports from applicants at no cost.
Receive comprehensive renter profiles and histories, including residence history, employment and income verification, and contact information.
Customized Lease Management:
Customize leases tailored to your property's location using state-specific templates.
Draft custom leases by adding or editing clauses, rules, and attachments.
Complete disclosures and facilitate online, secure, and legally binding e-signatures.
Rent Collection:
Collect rent and deposits with ease by requesting payments from tenants through email.
Fast rent payment processing to ensure timely receipt of rent payments.
Maintenance Tracking:
Transparent maintenance and repair tracking system.
Allow tenants to submit maintenance requests, upload photos of the issues, and track repair progress.
Receive real-time status updates and easily track repair expenses for simplified tax reporting.
Rental Property Accounting:
Streamline the accounting process by automatically tracking rental property income and expenses.
Rent payments and maintenance costs are uploaded to the accounting dashboard for easy monitoring of financial inflows and outflows.
Direct Deposit for Rent Payments:
Rent is directly deposited to your bank, eliminating the need for manual trips.
Tenants receive instructions via email to pay their rent, security deposit, or any fees using their preferred payment method.
Top Paid Option - TenantCloud
TenantCloud takes the user interface design and property management capabilities a step further than Avail. If you own more than 5 units, its flat monthly fee pricing makes it the more economical choice.
TenantCloud is an excellent step up from any free solution on the market. TenantCloud boasts a user-friendly interface and a well-organized property maintenance tracker. As you scale your property management efforts beyond five units, it becomes the more cost-effective choice for comparable premium features when compared to Avail.co. This is because TenantCloud employs a flat fee structure, in contrast to Avail.co's per-unit fee per month. Much like Avail.co, TenantCloud provides all of the features needed to successfully manage a multifamily property and more:
Online Payments:
Collect rent and pay Service Pros online.
Receive payments directly to your bank account.
Make online and mobile payments.
Get notifications and track payment history.
Tenant Screening:
Run screenings directly from applications.
Choose to pay for screening or require tenants to pay.
Receive ready reports directly to your TenantCloud account.
Enhanced security measures for safety.
Listing Website:
Customize a listing website showcasing vacant rentals.
Accept rental applications and fees online.
Manage tour requests and messages efficiently.
Premium Leads - Database of Tenant Leads:
Partnered with Rentler to match tenants with landlord properties.
Automatic Listing Syndication:
Syndicate listings for maximum exposure.
Receive leads and applications.
Require screening for potential tenants.
Lead Tracking:
Automatic lead capture tools.
Track lead status and activities.
Log calls, add notes, and maintain a timeline of interactions.
Rental Applications:
Customize rental applications.
Request background and credit checks.
Set up and receive application fees.
Accessible online on the go.
Lease Agreements:
Create online leases with a few clicks.
Utilize rental agreement templates.
Request digital signatures and manage lease renewals.
Allow joint rent payments and apply various financial transactions.
Accounting:
Manage property transactions, balances, and invoices.
Scheduled invoices, late fees, and receipts.
Export data for reporting and analysis.
Visual overview and customization of rental and financial reports.
Maintenance Requests:
Communicate, plan, and schedule maintenance.
Track expenses and materials used.
Receive status updates on request progress.
Connect with verified Service Pros for quotes.
Team Management - Collaboration:
Add team members and customize permissions.
Grant access to specific properties.
Assign tasks and create reminders.
Rent Reporting for Tenants:
Report rent payments to credit bureaus to build tenants' credit history and score.
Find Local Service Professionals:
Easily find and schedule repairs or services online.
Service Pros have verified profiles with reviews for reliability.
Competitive Rent Pricing:
Analyze local market rental rates.
Adjust pricing based on insights into listings similar to yours.
Top Option for Mixed-Use Properties/Portfolios - DoorLoop
Doorloop combines an easy user interface with the flexibility to handle commercial units
If you own properties that have a mix of residential/industrial/office/retail, then your choices for management software become very limited. Small-scale landlords often find it impractical to use services like Yardi Breeze, Appfolio, and Buildium due to their minimum unit requirements or exorbitant monthly fees. The user interfaces of these apps can also be particularly complex, especially for landlords who log in only a few times per month. Doorloop, on the other hand, combines affordability with an approachable user interface capable of tracking and managing commercial units. Though Doorloop can handle many aspects of commercial tenant management, commercial leases in particular can be complicated - we recommend finding a good leasing agent to draft and negotiate commercial leases that will best serve both parties.
Support for Multiple Property Types
Residential
Commercial
Student Housing
Mobile Homes
Affordable Housing
Community Associations
Self-storage
Automated Rent Collection:
Set up automatic rent collection on the 1st of each month.
Accept payments via credit card, debit card, ACH, cash, and check.
Send automated payment reminders.
Track paid or overdue rent.
Accounting for Non-Accountants:
Run custom reports for robust cash flow tracking.
Real-time reporting for data-driven decisions.
Customizable chart of accounts for easy financial management.
Connect with any bank and sync with QuickBooks.
Maintenance Request & Vendors Management:
Utilize an easy-to-use online portal for handling maintenance requests and vendors.
Receive maintenance requests online.
Assign and track work orders, including the issuance of 1099 forms.
Automate payments to vendors, such as mailing checks or wiring money.
Online Marketing and Custom Website:
Market your listings online to find tenants or owners quickly.
Fill vacancies efficiently by screening tenants and collecting applications online.
Utilize popular platforms like Zillow, Trulia, Hotpads, and more.
Receive electronic rental applications and background checks.
Build a custom website to enhance your online presence.
Owner Transparency:
Keep owners and investors satisfied with an owner portal.
Share documents securely through the portal.
Provide financial transparency with reports and distributions.
Foster user-friendly communication between property managers and owners.
Sources:
https://www.doorloop.com/
https://www.tenantcloud.com/
https://www.avail.co/
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