Technology

18 Best Property Management Software for 2023

According to Buildium's 2023 State of the Property Management Industry Report, growth, efficiency, and profitability are the top three priorities for property management companies going into 2023. It's important to note that for the previous two years, issues related to people (residents, clients, staff, and vendors) were the main area of focus for property management companies. But now, the pandemic is less of a factor and there are so many amazing software platforms out there that property managers can finally make growth their #1 priority.

We made a list of the top property management software to help you improve operational efficiency, reduce costs, increase revenue, impress clients and prospective renters, and most importantly: grow your rental portfolio.

Check out the top 18 property management software for both portfolio-based property managers and leasing teams:

1. Appfolio

Use Cases
Appfolio
is one of the top property management software for portfolio-based companies. It can be used for managing multifamily, single-family, condos, and even student housing. The core features are the owner portal, maintenance request management, marketing tools, rental application management, and accounting.

Pros
Appfolio has a lot of pros that are generally agreed upon by users:

  • Comprehensive / all-in-one
  • Easy to use and learn
  • The team is constantly taking feedback and building new features

Cons

  • Accounting system is not as user-friendly as the rest of the platform, so some users simply rely on a different tool for that function
  • Support is provided by email, and not available for phone calls even for more complex issues

Pricing
Depending on the type of asset under management, the cost ranges from $0.80 to $1.50 per unit per month, with residential units costing $1.25 per unit per month. Appfolio Plus has higher pricing and additional features.  

2. Showdigs


Use Cases

Showdigs
lets you buy rental showings inside of its software platform. So it’s sort of an app like Uber, where you’re primarily using the software to purchase a service. Showdigs can be used by portfolio-based property management companies or those with leasing departments.

Licensed real estate agents are trained to handle rental showings and condition reports, so that property managers can get more critical work done at the office, instead of driving around town.

Pros

  • Easy auto-scheduling so prospects can seamlessly book showings (including same-day, evenings, and weekends)
  • Saves property managers a lot of time, especially during the busy season
  • Prospects love on-demand tours

Cons

Pricing
Showdigs starts at a flat $100/month and comes with five property activations. Click here to view the savings calculator to see how much you can save by making the switch to Showdigs!

3. Buildium


Use Cases

Buildium
is a software used primarily by portfolio-based property management companies, whether they manage rentals properties, associations, or student housing. In addition to property management and client billing features, Buildium also has marketing features to help grow your business.

Pros

  • Great vacancy tracking features
  • Easy to manage properties and sort them by owner name, location, etc.
  • Easy to track interactions with tenants

Cons

  • Invoicing feature isn't as easy to use as it could be
  • Doesn't have mass communication features for clients or tenants

Pricing
Buildium has a Core plan and a Pro plan, and the pricing depends on the number of units under management.

4. Yardi Breeze


Use Cases

Yardi Breeze
is used primarily by portfolio-based property management companies, while real estate investors and corporations might more often use Yardi. With Yardi Breeze, you can manage single family rentals, multifamily, and commercial properties.

Pros

  • One stop shop - likely has all of the features you need
  • Great reporting and accounting features
  • Leasing administration and rent roll are top-notch

Cons

  • Setting up ACH payments can be challenging

Pricing
Yardi Breeze costs $1 per unit per month with a $100 minimum for residential portfolios and a $200 minimum for commercial portfolios.

5. Nestio


Use Cases

Nestio
is a property management software built for multifamily buildings. The primary use case is collecting and managing leads. You can manage your inventory availability and market your listings from one central platform.

Pros

  • Photos and details are saved for units, so when you create a listing, you don't have to recreate it every time it comes available
  • Easy to manage listings across the internet, including auto-posting to Craigslist

Cons

  • Nestio pulls information from your database to create listings, and sometimes there can be a slight delay with updating listings

Pricing
Nestio doesn't list their pricing, but you can request information on their contact page.

6. TurboTenant


Use Cases

TurboTenant is free landlord software, ideal for landlords and property managers with 1-100 units under management. Take online applications, market rental properties, screen tenants and collect rent online.

Pros

  • Automatic emails, screening, and leads tool
  • Easy to communicate with prospects and collect rent

Cons

  • If the tenant pays through TurboTenant, it takes 10 days to deposit into your account (unless you upgrade to Premium)

Pricing
Pricing starts at $0 with a free trial and a free version. Pricing is based upon rental insurance and various other features needed.

7. MRI


Use Cases

With MRI property management software, you can handle residential and commercial property management as well as accounting, budgeting, and forecasting. For residential properties, it's primarily used by asset managers and leasing managers who manage multifamily properties.

Pros

  • Easy to manage large number of assets
  • Easy to manage availability

Cons

  • It's a robust platform, so can be difficult to use
  • Not mobile friendly

Pricing
No pricing is listed, so you'll need to contact the company.

8. PropertyWare by RealPage


Use Cases

PropertyWare
was created by RealPage, a top property management software company. PropertyWare was designed exclusively for residential property management companies and it handles marketing, leasing, tenant screening, and maintenance requests.

Pros

  • Easy to manage renters, billing, and availability
  • Robust, all-in-one solution for most needs

Cons

  • Not suited for managing even small multifamily properties

Pricing
The cost is $1 per unit per month for the Basic plan, $1.50 per unit per month for the Plus plan, and $2 per unit per month for Premium.  

9. Lodgify


Use Cases

While primarily marketed as a solution for vacation rentals, Lodgify is growing a large fan base of small, portfolio-based property management companies because of its simple features.

Pros

  • App works on mobile
  • Easy to collect online payments from renters
  • Listings management

Cons

  • While some property managers love it, it's primary use case is vacation rentals, so it may not have all of the features you need

Pricing
Lodgify's pricing depends on the number of units. For example, 100 units is $362 per month.

10. Rentec Direct


Use Cases

Rentec Direct
is used by small property management companies and by landlords managing their own rentals. The main uses of Rentec Direct are website building, tenant screening, availability listings, tenant payments, and business accounting.

Pros

  • Very affordable for the feature set
  • Company is continually rolling out new features
  • Very easy to manage tenant screening and to automate rent collection

Cons

  • Financial reporting and accounting integration might be lacking for some users

Pricing
Rentec Direct is affordably priced, with plans costing $1 per unit or less.

11. Apnacomplex


Use Cases

Apnacomplex
is a software designed for managing multifamily apartment communities, gated communities, and co-housing societies. The software provides features for facilities management, gate access management, rent collection, accounting, and tenant requests.

Pros

  • Apartment security features
  • Tenant experience features that many systems not designed for multifamily lack
  • Mobile app for tenant use

Cons

  • While reviews from property managers look largely positive, apartment renters have lots of complaints about the quality of the mobile app

Pricing
Their pricing isn't available online, so you'll need to get in touch with their sales team.

12. ADDA.io


Use Cases

ADDA
was built for apartment communities. In addition to administrative features like accounting, automated billing, and inventory management, their mobile app for community renters includes a private social network, visitor management, and facility requests.

Pros

  • Great for condos and high end buildings
  • Very user friendly with attractive UX
  • Favorable mobile app reviews from tenants

Cons

  • Not likely to be an all-in-one solution for asset management and facility management for large corporations, but more of an add-on for community building and tenant experience

Pricing
Pricing isn't available online, but you can sign up for a free trial and play around with the software, while you wait to talk with sales.

13. CondoManager


Use Cases

Primarily designed for condos and HOAs, CondoManager includes accounting, property management, and communication features. CondoManager can be customized for just one building or for a large portfolio of assets managed under different brands.

Pros

  • Easy to communicate with both owners and renters in one place
  • Helps manage owner profiles, owner meetings, voting, and other owner-related needs

Cons

  • Company was founded in 1991 and some features are designed in an old, clunky way

Pricing
Since pricing isn't listed on their site, you'll have to get in touch for custom pricing.

14. TenantCloud


Use Cases

TenantCloud
is designed for portfolio-based property management companies and for landlords who are handling their own rental properties. It includes a marketing website builder, listing management, rental application management, tenant screening, online payments, and more.

Pros

  • Easy to use and includes everything you're likely to need
  • Very affordable pricing for property management companies
  • Free plan that works for many landlords

Cons

  • Users have experienced issues with setup and linking tenant accounts to the right owner accounts

Pricing
TenantCloud is free for 75 units and below, $9/month for 150 units and below, and $35/month for 500 units and below. There are additional add-on services for tenant screening and insurance.

15. Rent Manager


Use cases

Rent Manager
is gaining popularity with property management companies that manage a portfolio of client rentals. It can be used for residential or commercial properties.

Pros

  • API makes it easy to integrate with your other systems
  • Two-way text messaging with owners, prospects, and renters
  • Robust accounting and reporting features

Cons

  • There is a charge per user, so it might not be cost-effective for some companies

Pricing
No pricing info is listed online, so you'll need to get in touch with them.

16. PropertyVista


Use Cases

PropertyVista
can be used to manage residential properties, commercial properties, condos, HOAs, or student housing. The core features include asset management, marketing, tenant communications, maintenance request tracking, rent collections, and lease management.

Pros

  • Comprehensive, all-in-one solution
  • Highly rated across the web

Cons

  • With pricing over a dollar per unit, some property managers will want to look for something more affordable

Pricing
Their Essential plan is $1.25 per unit per month with a $250 per month minimum, and their Premium plan is $2.00 per month with a $400 per month minimum.

17. TrueRent


Use Cases

TrueRent
can be used by property management companies that manage a portfolio and by landlords. It's an end-to-end software for tenant screening, leasing, work orders and more.

Pros

  • Affordable pricing, lower than one dollar per unit
  • Includes investment analytics for landlords
  • Tenant and owner portal for easy communication

Cons

  • Only offers property-specific accounting, not other accounting for other business expenses
  • No ability to remove corporate branding for tenant or owner portals

Pricing
TrueRent's pricing depends on the number of units under management, and there isn't a specific per rent cost. For example, 150 units costs $114 per month, while 10 units costs $19 per month.  

18. ResMan


Use Cases

Designed for multifamily property managers, owners, and operators, ResMan offers lead management, accounting, affordable housing compliance, and property maintenance tracking.

Pros

  • Popular, trusted platform for multifamily properties
  • Comprehensive accounting features that can replace systems like QuickBooks or Xero

Cons

  • Depending on the state and property type, all compliance needs may not be manageable with ResMan

Pricing
ResMan's pricing isn't available online. You can contact their team for custom pricing.

What's the best property management software?

These software platforms can be used by landlords, property managers, facilities managers, and others, so there's no "one size fits all" solution. Hopefully, the above options give you plenty to compare!

Want to save time and money manaing single family and small multifamily properties? Learn more about Showdigs and our on-demand network of licensed fieldwork agents.