Best Property Management Software for Small Landlords
Managing your own property comes with an ever-running list of to-dos.
Aside from collecting rent and scheduling maintenance, you also have to search for new tenants, vet potential candidates through background checks and credit reports, then onboard them with a slew of paperwork incorporating agreements, contracts, and waivers.
Even if you’re only managing a few properties, that’s a lot to do.
Fortunately, technology makes it possible to pull all these processes together onto one dashboard–putting accessibility right at your fingertips. But which one is right for you?
Rental Management Software for Just a Few Tenants
We’ve pulled together a list of the best property management software options for landlords averaging 1-5 properties. Each software comes with a suite of tools that can help you manage the basics and the extras without costing as much as a property management company.
Check out our selection below and see which tool is right for you!
If you’re looking for simple software that’s intuitive (it actually makes sense and is easy to learn), then Tenant Cloud is for you. Tenant Cloud has an excellent easy-to-use interface that’s “bare bones” for landlords looking for something easy to use.
Tenant Cloud sends out your listing to multiple websites like Zillow, Trulia, Hotpads, Oodles, Rentals, and Apartments.com to help your rental get the most exposure. Then receive and manage leads through the portal. Plus, you can require an application fee during the screening process to pass on the cost of credit reports.
Moving multiple tenants into one property? Easy. Tenant Cloud allows you to set up multiple tenant profiles and track payments from that property. Roommates can choose to pay separately or pay rent invoices together. You can also set up automatic late fees and schedule rent increases or decreases through the system.
You can also use Tenant Cloud to require incoming tenants to get renter’s insurance. Renter’s can provide their own insurance or acquire it through Tenant Cloud—powered by Assurant.
Landlords love using Tenant Cloud because it’s free. But premium plans with added features begin at $15/mo with unlimited listings under any plan.
Landlord Studio is one of the best management software options for landlords, especially those operating a small number of properties and prefer to be more DIY.
This solution offers a wealth of financial features to help you monitor your rentals’ progress at home on your desktop or on-the-go with their mobile app.
Their goal is to streamline the financial process for you with trackable accounting, property expenses, connected bank fees, and digitized receipts. Plus, you can set up automated rent collection with your tenants and never deal with a late payment again.
Apart from streamlined financial features, landlords can also search for their next tenants using Landlord Studio’s end-to-end marketing features—simply create your own free listing website through Landlord Studio, share your listing to Facebook and Craigslist, then prescreen, manage applicants, and run background checks all from one place. Credit reports and background checks may incur an additional cost.
Start with a free 14-day trial. Basic plans start at $5.99/unit per month.
Part of the Realtor.com network, Avail is another excellent platform for DIY landlords.
Like Landlord Studio, Avail offers its solution across multiple devices so you can manage your rental properties from anywhere. Avail’s goal is to provide “a complete set of tools, guidance, and best-in-class educational content,” so they can “give you everything you need to be a confident and professional landlord.”
When searching for tenants, Avail will list your rental property across top rental listing sites such as Zillow, Trulia, and Hotpads. You can learn about potential tenants with a full rundown of their renting history once an applicant creates a profile.
You can request credit, background, and eviction checks at no extra cost to you.
Apart from finding the right tenant, you can customize a lease tailored to your rental property’s location with their customized lease feature. Leases can be signed online and in no time at all. You can then request rent payment through the system, which is then directly deposited into your bank account.
Crack in the wall? Leaky pipe? Tenants can submit maintenance tickets through Avail for your review. You can easily track your maintenance and repair expenses for tax season.
Best of all, Avail is free to use for basic features. Plans begin at $5/unit per month.
RentRedi is an “all-in-one property management software for landlords.” RentRedi lets you manage your property across multiple devices like the two property management software solutions mentioned above.
Aside from usability, RentRedi prides itself on its rent collection feature. They offer customizable payment options, including cash (which can be deposited at over 90,000 retail locations), credit, ACH, and ACH-only payment options without any additional hidden fees for additional tenants or units. You can also accept partial payments or block payments.
To find your next tenants, RentRedi automatically lists your rental on Realtor.com and Doorstep. Create your own free marketing page through RentRedi to share and post on Facebook, Craigslist, or email to your network.
Like other property management solutions, you can funnel prospective applicants into a pipeline for review checks. Once your new tenants are onboarded, they can submit payment and repair requests through the app.
A new RentRedi feature allows landlords to offer credit boosting to tenants. RentRedi claims that “when a tenant chooses to report on-time rent payments to TransUnion, they can boost their credit by as much as 26 points.”
Pricing starts at $19.95/mo with pay as you go or pay annually for a discounted rate.
Hemlane is the go-to solution for everything you want in property management software, but landlords stay for the marketing power.
Hemlane doesn’t offer a mobile app like the other solutions listed in this article, but their software via desktop is mobile friendly.
Hemlane “advertises your rental on the top 30 rental listing websites, sends interested tenants to your rental listing website to book showings, and provides an online application with a comprehensive credit and background check.”
One of the most curious aspects of Hemlane is its use of local agents in each city. As posited on their website, Hemlane says it “connects owners with local real estate professionals for specific leasing and management tasks. Local agents and managers support owners in many ways, from rental showings to annual inspections.”
But as it comes to management for landlords with a handful of properties, Hemlane offers the same great onboarding, screening, rental payment, and communication features as the other solutions on this list.
Hemlane pricing starts at $30/mo per unit for annual plans, while monthly plans start at $36.50/mo per unit.
TurboTenant rounds out our list with an “all-in-one, property management tool that streamlines how you manage the rental process.” They claim it’s the “world’s easiest way to screen tenants, market your rental, receive applications and collect rent online.”
TurboTenant posts your rental listing across multiple sites, including Zumper, Realtor.com, RentPath, and Apartment List. Like the other options on this list, interested parties can apply directly through TurboTenant and enter your vetting pipeline. They offer free tenant screening, thanks to TransUnion.
Before they become official, you can have your tenant sign all your lease documents electronically. Then they’re automatically stored in your online hub.
The downside is you can’t collect rent payments online, but if all you need is a tool to find tenants and screen them quickly, then TurboTenant is the way to go.
Best of all, TurboTenant is free! Costs are passed onto the tenant and their $35-$45 application fee.
When choosing a property management software solution, be sure to factor in the features most important to you. From there, leverage pricing and the market your rental property is in. But with a full list of excellent solutions, you certainly can’t go wrong.