6 Best Multifamily Property Management System Softwares

Rental property registrations, generating monthly and yearly financial statements, collecting fees, carrying out routine inspections, working on move-in and move-out reports, handling resident and landlord complaints and grievances, paying contractors, getting on the top of repairs and maintenance, planning and managing property showings, creating marketing and advertising plans… Managing a property is no easy task and it can get super overwhelming! This is where good property management softwares can make your life easy. They not only help you with controlling your real estate portfolio, but also help you organize your rental properties. The property management system can also assist you in managing rent rolls and finances, and storing account information. 

Top 6 Property Management Softwares

Here’s a list of 6 multifamily housing softwares that can help you manage your workload and stay organized.

RentCafe

This one is our favorite. In fact, we at BFPM use RentCafe to manage our client’s properties effectively and efficiently. For residents, RentCafe helps save time and manage rental homes effortlessly, from anywhere. They can make rent payments, keep a track of pending payments and due dates, raise maintenance requests, and get their leases renewed as well.

A popular property management software for small and large landlords as well as property management firms, this multifamily property management system helps you with increasing your market exposure, getting more leads, and bettering the chances of filling vacancies with qualified residents. You can also generate higher resident retention and satisfaction with easy online rental applications, approvals, and lease renewals.  

Entrata

Entrata has everything you need to be more efficient, including moving tenants in faster, posting transactions to the ledger, and automating the renewal offer process. It has tools that help you with leasing and rents, tracking purchase orders, creating invoices, managing vendors, creating, editing, and managing work orders, and managing inspections for units, buildings, and common amenities. It even has a multifamily accounting software which includes tools for balance sheets, ledger management, income statements, and budget creation.  

RealPage

RealPage is an easy-to-use property management and maintenance software that helps with day-to-day property maintenance management, reporting, task reminders and budgeting. It also has a tenant portal where the residents can pay their rents, track their due dates and even raise service requests. This software is an open and flexible platform that gives owners, operators, property managers and investors real-time visibility across their entire portfolio to help them extract value faster and achieve excellence.

Rentec Direct

Rentec Direct offers 3 software plans. The Rentec Pro, the Rentec PM and the free property management software called Rentec Basic. With this excellent software, you can do the following things:

• Build a website for your property business
• Online vacancy publishing
• Tenant screening
• Online tenant payments
• Operation management
• File management, and a lot more

Rentec Direct also includes a multifamily accounting software which makes calculations related to property management quick and easy.

AppFolio

A popular property management software provider, AppFolio offers a robust suite of features and services. They have two softwares for multifamily property management.  The AppFolio Core includes accounting and reporting services, resident and owner management portals, marketing and leasing tools, and a property maintenance feature. The AppFolio Plus software includes everything mentioned in the Core suite, plus it gives performance insights, and helps with workflow and revenue management, data exporting, and strategic account management.

LeaseHawk

LeaseHawk is a property management software for small landlords; property owners who don’t want to get into the depth of it and just want to focus on easy property management prefer this software. LeaseHawk is a unique option on this list because it has fewer general administrative features and instead focuses on automating the leasing process. It uses multiple AI-based programs to automate processes such as a chatbot that automatically collects and tracks guest information etc. The only drawback of it is that it doesn’t provide other features such as maintenance management and more detailed accounting functions.

Let BFPM Help You With Property Management

Managing multifamily properties demands a lot of time and energy; it can also get pretty chaotic. It’s best to leave property management hassles to experts like us. Whether you’re looking for someone to help you manage the chaos, or want to make your properties flourish and earn more ROI for you, feel free to get in touch with us. You can also book a quick 15-minute consultation call where we can understand your property management requirement and guide you accordingly.