Asset management operations can be cumbersome operating from a back office. Without the use of appropriate technology to back you up, your work can be time-consuming and very difficult. I run and have been working in the real estate industry for the past 8 years. The tools that I am going to mention have helped us and other property managers I know to scale their business. 

Thanks to these top property management software, you can conduct your job much more quickly, efficiently and accurately.

1. Buildium

Buildium is a web-based all-in-one property management software that is ideal for residential and association properties. It is easy to use and can help manage daily tasks such as maintenance cycles, vacancies, and rent. Other features include late fee reminders, tenant lease tracking, and on-demand reports.

With Buildium, property managers can receive payments automatically through the tenant portal. The automated system also allows for work to be assigned to maintenance staff more easily and faster. Buildium also works with Craigslist, Trulia, Zillow among other marketing websites.

2. AppFolio

AppFolio is a property management software that allows residential, commercial and student housing property managers to conduct business from a single system. With AppFolio, you can track vacancies, collect rent, perform accounting, screen tenants, and track applications. Users can make applications online, list vacant properties and run background checks online.

The online asset management platform also accepts payment in various methods. It provides an efficient channel of communication with bulk text messaging and emailing as part of its many capabilities.  At a monthly fee, you can access the mentioned features and much more.

3. Maintenance Connection

Maintenance Connection is suitable for managing all kinds of facilities, including healthcare, government, warehouses, manufacturing, energy development and travel agencies among other industries.

Its users can track maintenance and manage costs, get updates on possible equipment failure, allocate resources and handle the lifecycle of assets in general. It is integrable with software and computer-aided facility management (CAFM), and enterprise resource planning (ERP).It has an excellent user interface with various useful features like a customizable calendar, a homepage that can be customized according to roles for each user and much more.

4. PropertyWare

PropertyWare is a great solution for simple, efficient and profitable management of properties. It is an on-demand software that serves well when it comes to tracking and managing residential properties and multi-family units. The software can handle anywhere between 20 to 5,000 units with ease.

This platform includes owner and tenant portals, accounting, marketing and tenant screening among other management tasks. The online services are integrated with QuickBooks and other installed systems.

PropertyWare is compatible with Windows, Linux, and Mac without the need to download software because of its online nature.

5. Yardi

Yardi is a property management and accounting software that is suitable for small to midsize businesses. From a single mobile platform, managers can market, lease and manage different properties. It is not built specifically for commercial real estate as it is capable of handling CRE asset management too.

Yardi offers two different platforms for users to choose based on their portfolio. Yardi Genesis integrates tenant services, maintenance, and marketing. Yardi Voyager is more suitable for mid to large-unit property owners. It can be used to manage accounting operations and other services for industrial, multifamily and commercial portfolios managing.

6. MRI Commercial Management

The MRI Commercial Management software is built specifically for managing commercial real estate. It is advantageous for its high reconfigurability to users' needs, automating most of the essential commercial property management tasks. You can use it to handle late fee calculations, billing, recovery, accounting, lease administration, reporting and much more.

It allows for accessing the tools used by developers, enabling you to customize management to the company's workflow. The entire leasing process can be controlled from the platform. It also has additional features for small to mid-sized businesses and retail properties.

MRI Commercial Management is best for managing over 50 units. It can be installed on-site or purchased as a SaaS platform.

7. Arthur

Arthur is a cloud-based property management tool built to ease the work of asset management for large landlords, small-to-let owners and also property management agents. It is compatible with any personal computer and mobile device. The mobile app allows you to access 95% of the functions available in the PC version.

With Arthur, everything from initial viewings to end tenancies can be managed online. Users can automate tasks and actions to ensure every tenant's detail is covered from when they moved into the time they leave.

8. TenantCloud

TenantCloud is the best free Web-based property management tool. It is best suited to meet the needs of landlords, real estate professionals, and property managers. It gives access to marketing, tenant management, and ownership management.

Its homepage carries the core features of the system for users to access quickly: clients can add new properties, applications, tenants, transactions and work requests just by clicking. It also displays useful data like outstanding rent payments, lease expirations, total occupancy and property listings.

Besides the top 8 software systems that I have talked about, there are many other tools for property management available in the market. You may find free software for property management that suit your needs just as well as the ones you pay for. You should choose the most suitable for your needs according to your nature of investment and scale of operation.

Published by Elena Tahora