Property management requires a strategic approach to handle tasks such as tenant communications, maintenance requests, rent collection, and accounting. Choosing the best property management software can transform these processes, making operations more efficient, improving tenant satisfaction, and ultimately increasing profitability.
Here’s what you need to know to select the best property management software for your business.
The demands of property management go beyond lease agreements and tenant communications. Efficient property management also includes effective accounting, maintenance tracking, compliance management, and marketing — all critical for smooth operations.
Property management software consolidates these tasks into a single, streamlined system that keeps everything organized, accessible, and manageable.
Key Benefits of Property Management Software:
Expert Insight: Property management software is designed to centralize key data, including leases, tenant records, and financial information, in one place. Ideally, your property management software should cover all of these tasks seamlessly. However, in reality, no single platform does all of these functions equally well, which is why Geekly Media combines multiple tools to ensure full coverage. We use HubSpot for CRM and process automation, Findings for tracking, and RentRange for property data—ensuring each aspect of your property management process is handled by the best-suited solution.
Here are some of the best property management software solutions available, each with unique features for different business needs:
Overview: AppFolio offers advanced features including AI-powered leasing tools, maintenance management, and comprehensive tenant services. It’s geared toward medium to large portfolios, particularly suited for commercial properties due to its extensive functionality.
Strengths: Advanced automation tools and a marketplace concept that supports vendor integration.
Considerations: AppFolio’s vendor marketplace is costly to participate in, which can make it less suitable for smaller businesses. It’s ideal for businesses managing over 200 doors, but for portfolios smaller than that, the investment may outweigh the benefits.
Overview: Known for its user-friendly design, Buildium provides essential property management tools including accounting, maintenance tracking, tenant screening, and leasing functions. It is well-suited for small to mid-sized portfolios and is particularly popular among residential property managers.
Strengths: Easy to use with a focus on basic property management functions, making it an accessible choice for teams with less complex needs.
Considerations: Buildium lacks some of the customization and advanced automation features found in other software options, which may limit its appeal for larger or more complex portfolios.
Overview: Yardi Breeze is an affordable, scalable solution offering core property management tools such as tenant management, maintenance tracking, and accounting. Yardi Breeze is available in multiple versions to support different property management needs.
Strengths: Highly robust and customizable, making it ideal for institutional and commercial property managers, especially in the multifamily sector.
Considerations: Yardi Breeze’s flexibility and extensive features make it a top choice for large portfolios, but it may be more complex for smaller operations.
Overview: Propertyware is designed for flexibility and easy integration, supporting property managers in customizing workflows to meet unique needs.
Strengths: Allows custom property configurations, which AppFolio lacks, making it ideal for managers who need to tailor settings to specific types of properties. Propertyware also integrates easily with other software and tools, enhancing operational flexibility.
Considerations: Suitable for portfolios with under 200 doors due to its user-friendly design and integration options.
*Disclaimer: All information provided is based on estimates and may vary based on individual business needs.
Choosing the best property management software starts with understanding which features are essential. Here’s what to look for:
"Operationalize and create your marketing efforts around property expirations and renewals." - Heather Park (CEO)
When selecting property management software, consider the following factors to ensure it meets the specific needs of your business:
The size of your portfolio and the complexity of your operations are key factors when choosing property management software. Small portfolios might benefit from simpler systems, while larger portfolios require more robust tools to handle increased data and processes.
Property management software should be intuitive and easy to use for both property managers and tenants. A user-friendly interface minimizes the learning curve and increases adoption among your team and residents, ensuring a smoother implementation.
As your portfolio grows, you’ll need software that can scale with you. Choose a platform that allows you to add properties, users, and new features without requiring a complex upgrade process.
Software that integrates with other tools, such as accounting software, CRM platforms, and marketing tools, can streamline workflows and enhance productivity. Look for software with open APIs or built-in integrations that match your current tech stack.
Strong customer support and available training resources can make a significant difference in the implementation and day-to-day use of property management software. Choose a software provider that offers comprehensive onboarding, training videos, and accessible customer support.
Selecting the best property management software can feel overwhelming, with so many options available, each offering different features and benefits. Geekly Media specializes in helping property management companies like yours make informed decisions on the software solutions that best fit your needs. Our team understands the unique challenges of the property management industry and the specific technology needs that help businesses thrive.
For those who are struggling with choosing the correct technology mix, the best solution is to work with a property management consulting firm to create a game plan for the most optimal combination of business technology.