What is the Best Property Management Software?

Property management answering service

Regardless if you manage three properties or hundreds of units, real estate property management software is the best way to organize your business and, more importantly, increase efficiency. Using property management software allows for improved efficiency, productivity boost, and increased leasing rates. Consequently, it leads to increased revenue, tenant satisfaction, and continuous growth.

According to iProperty Management, 45% of property managers want to increase efficiency and simplify their day-to-day activities. Property management software allows for automatic tasks, such as lease management, collecting rent online, facility management, and tenant communication. Moreover, property managers who decide to invest in superior property management software can access accounting functions, screening rental applications, inventory tracking, maintenance tickets, as well as marketing properties for seamless integration with listing sites.

Investing in property management software is no longer reserved only for property managers with large portfolios. It has become a necessity for every landlord, and the next step to take if you want to run a successful property management company. This modern approach to property management helps landlords and real estate professionals save time and effort, and simplifies their process without losing their grip on important aspects.

Good property management software takes over your business and helps you handle documents, perform accounting functions, manages finances, and produce financial reports. It also helps reduce costs and provides ticketing fault applications. The best property management software on the market opens a communication channel with tenants to offer access to updates and status notifications. So, what are the best property management software available on the market, and how can they help property managers run their business?

buildium screenshot

Buildium

Founded in 2004 in Boston, the property management software company,  Buildium has changed the way real estate professionals manage properties. Boasting an A+ rating from the Better Business Bureau, Buildium has an app that is cloud-based for easy access on the go. It can support various property types, including residential property, affordable community associations, and student housing, rental units, and is targeted towards property managers and property management companies. When it comes to functions, the sky is the limit for Buildium. The software does everything property management requires, including:

  • online rent payments
  • accounting software
  • automated rent and fee reminder
  • maintenance tracking
  • finance management
  • property inspection tools
  • digital lease signing
  • tenant screenings
  • online application management
  • marketing tools for online listings
  • renter insurance
  • communication with stakeholders
  • property message board
  • cloud storage for documents
  • customized onboarding

 

Pricing starts at $50 per month, but the total cost depends on the additional features you want to add to your package and the number of units you manage. It is recommended for landlords or property managers with 50 or more units. If you have over 100 units, you can benefit from customized payment plans. Premium Buildium costs $460 per month and is usually the choice of real estate professionals with very large portfolios. Premium users can benefit from performance and business analytics and an open application programming interface (API) available only for this package.

yardi screenshot

Yardi

Established in 1984 in Santa Barbara, California, Yardi addresses the needs of landlords and property managers with small to midsize portfolios. Also a cloud-based property management software, just like Buildium, Yardi can be accessed on any device. Although it doesn’t have an app, it does allow users to capture and send property photos for online marketing and maintenance requests via the integrated online portal. Yardi is rated B- by the Better Business Bureau and works seamlessly for small to medium-sized portfolios, including a wide array of property types, such as residential units and commercial units, as well as mixed-use buildings, and social and affordable housing. You can count on Yardi to help you with:

  • online rent collection
  • online payments and check writing
  • online rental applications
  • accounting
  • autocomplete address lookups
  • data import
  • lease templates
  • prospect screening
  • resident insurance
  • maintenance requests
  • activity calendars
  • marketing with Rent Café
  • built-in live chat support
  • tenant communication features

Pricing is set per unit, and it starts at $1 per month, but the residential portfolios have a minimum monthly fee of $100. For Breeze Premier, landlords and property managers have to pay $2 per unit per month and a minimum monthly fee of $200 for commercial and mixed-use portfolios. A landlord who wants to purchase Breeze Premier should be ready to spend a minimum of $400. Landlords benefit from free training and customer support provided by Yardi.

Simplify even more: work with Unicom

Unicom agents have been trained to master both Buildium and Yardi Breeze. They can seamlessly use your property management software program and plug into your existing processes to simplify your property management tasks. Ready to address all your property management needs, our agents will make sure your tenants and potential customers are well taken care of while diligently using your property management software.

Moreover, we can add the human touch to the entire process and make sure you get everything you need for a profitable business and smooth communication with your staff and tenants. While the property management software you choose will take care of your administrative, accounting, financial, and marketing needs, we will manage all your calls, handle call overflow, and provide after-hours support. When you work with Unicom agents, you know your organization provides impeccable customer support while saving you time and assuring tenant satisfaction.

Our call agents go beyond scheduling and message taking and contribute to the organization’s growth. We can handle property management businesses with thousands of tenants and leases as efficiently and professionally as we would small portfolios. Unicom agents are trained, certified, and located in our Chicago call center to deliver outstanding services in a professional environment. Each shift includes real-time management to assure impeccable call management, appointments, and message taking.

While property management software streamlines your processes, manages leases, handles payments, and facilitates online tasks, Unicom team members make sure your tenants are satisfied and receive the answers they need. Nothing can replace direct communication, especially in the business of real estate management. An open channel with your tenants is vital for a flourishing property management business, and our agents will make sure they will always be there to answer the call.