Managing residential properties comes with its own set of unique challenges. The best way to overcome these challenges is to use tools that make your day-to-day operations as stress-free as possible, and one of the best ways to do this is to use a good, bespoke property management software platform. . for residential management.
But what makes a good property management software option for the modern home manager? There are so many different solutions out there, and it can span the gamut from simple platforms to full enterprise-level resource planning platforms. Finding the right software for your specific needs can sometimes be a problem, which is why we’ve put together this quick and easy guide to some of the best and most modern platforms for residential property managers and owners.
What happens in a great property management platform?
There are a lot of things that go into a property management platform. Different platforms are suitable for different things, some of which are ideal for real estate agents looking to market residential rentals to management companies who need to ensure that facilities remain properly maintained. Others still offer back-office support for the management of operating personnel. As a result, property management programs typically focus on one area or another, meaning what might be a great management platform for commercial properties might not be the best for residences. In fact, even a good residential property management platform might be ideal for multi-family dwellings, for example, but not as great for single-family units.
So it becomes necessary to sort through the huge playing field to help highlight some of the best management software platforms that are uniquely positioned for residential property management. This is why we scoured the sector to find offers likely to meet your expectations in terms of managing your residential assets. These platforms, while different, all perform some of the most important tasks needed, such as tracking and monitoring your property’s finances, enabling the automation of day-to-day operations and providing methods or portals of communication between the house. property management and tenants. Here are a handful of the best we’ve found.
With the ability to manage not only residential housing, but also commercial properties, self-storage markets and many other types of real estate, Yardi Breeze offers excellent options for saving time and money due to its ability to streamline not only rental and rent collection, but also financial reporting, marketing and maintenance to name a few of the critical tasks for any property manager. User-friendly web portals not only allow tenants and landlords to track and collect payments online, but also potential new tenants to complete and submit applications. Meanwhile, back-end support via an online help center with unlimited live chat makes it easy to troubleshoot this platform if needed.
Taking the Platform as a Service (PaaS) approach, Enrate is unique in the real estate management software vendor arena with its open access, single platform design. The number of online tools that Entrata offers are numerous, including mobile and desktop apps and websites, payment processing, accounting, resident management and lease signing. With its open API and robust third-party software integration support, Entrata is a favorite with residential property managers who want the flexibility to choose exactly the types of software and technology that’s right for them.
Known for using natural language processing, artificial intelligence, and other cutting-edge approaches, LeaseHawk is a favorite with multi-family home managers, landlords and landlords. Bundled with the ACE Virtual Leasing Assistant, the LeaseHawk performance platform has earned the trust of a number of leading multi-family businesses to elevate both their marketing and their employees. Options include optimizing the rental process and closing leases much faster with much easier operation for all levels of your management company. Meanwhile, ACE provides conversational virtual rental assistance that can handle not only calls, but SMS and chats as well, even when there is no one in the office to answer.
Although ResMan is often used in the commercial real estate industry, it has also become very popular with investors, owners and operators of affordable residential and multi-family housing, making it a good choice to be on this list. Based on a single platform that aims for intuitive use, ResMan uses a scalable and open architecture that focuses on streamlining comprehensive property management, reporting and accounting capabilities while remaining highly flexible with its suite. of products extended. Known for simplifying complex tasks with its well-designed user interface and user experience, ResMan is focused on delivering greater efficiency and time savings on all of your residential property management tasks.
Looking for something that doesn’t require you to maintain and manage massive amounts of digital infrastructure in your office? TenantCloud is the answer. A cloud-based property management solution ideal for helping landlords who want their rental properties to perform to their full potential, this free, comprehensive solution gives property managers all the tools they might need to keep their organization going. to operate at all times. . TenantCloud covers just about everything from selecting candidates and posting ads to collecting rent on the internet. On top of that, its user-friendly interface makes the entire rental process as streamlined as possible to ensure owners get the best return on their investments, from maintenance to backend accounting and more.
Offering the ultimate in integration while providing an intuitive and easy-to-manage user experience, AppFolio makes it easy to manage your entire residential rental portfolio through a fully modern management platform. AppFolio has the tools your property management team needs to keep residents and owners happy by providing top-notch service. This management platform is ideal for many different residential environments, from single-family homes to multi-family complexes, community associations and much more. Highlighted features such as built-in filtering, support for leases, apps and online payments, online self-service portals for landlords and tenants, mobile inspections, maintenance requests, accounting and reporting, bulk text messaging and seamless mobile application connectivity complete AppFolio’s capabilities.