Real Estate Property Management Software FAQs
What is real estate property management software?
Real estate property management software automates financial, operational, and administrative tasks associated with leasing and rental management. Real estate property management software solutions can manage multiple property types, and offer marketing, reporting, and accounting tools to enhance online marketing efforts, track revenue and expenses, and forecast budgets and maintenance costs.
How much does real estate property management software cost?
The most popular pricing models for real estate property management software are pay-per-unit, tiered, and pay-per-transaction.
Some pay-per-unit pricing solutions charge by number of units, while others break pricing down by increments (such as five, ten, or 50 units). Small businesses can pay anywhere from $15 per month for ten units to $400 per month for 1,000+ units. Enterprise solutions can cost between $4,560 and $10,000 per month, while annual costs for 4,500 units can exceed $49,000.
In tiered pricing models, costs depend on number of included features and range from $1 per unit, per month to $575 per month for 1,000 units.
Pay-per-transaction pricing is less common and tailored for landowners who need a rent and payment management solution. This software can be free, and paid versions cost as little as $0.50 per transaction. Costs build up quickly if large numbers of transactions are being processed.
Check out “How Much Does Real Estate Property Management Software Cost?” for detailed information on these pricing models and solutions that fall within each category.
What are some common real estate property management software features?
Common features include lease and tenant management, tenant portal, accounting, and maintenance management.
Check out Capterra’s real estate property management software directory for a comprehensive list of features and filtering tools.
What are the benefits of using real estate property management software?
Real estate property management software optimizes leasing and rental management for property managers and tenants. These solutions provide self-service tools for tenants to submit maintenance requests and secure online payment, both of which save property managers time and money. Real estate property management systems also offer bulk and automated emailing, letting managers communicate with tenants quickly and easily.
Are there free real estate property management software options?
Pendo and TenantCloud offer limited-capability free versions of their software; TenantCloud’s free version allows up to 75 units, one admin account, and ten notice templates, while Pendo’s free version allows one rental unit.
- Full Real Estate Property Management Software List