Landlord comparing top 5 rental property management software solutions

Best Property Management Software in 2024

As the market for DIY solutions expands, landlords searching for the best property management software in 2024 will have a wide range of options to consider. 

Some come with a slew of free features, while others offer pricing tiers scaled to the number of units managed. Either way, choosing the right software for your needs is critical to starting on the right foot.

To help you along your journey, we examined what software for property management is, the key features to look for, user reviews, and each solution’s pros and cons to help deliver a full picture of the best choices in this exciting market. 

Let’s get to it. 

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Why Use Software for Property Management

Software for property management was created to streamline management tasks that landlords executed themselves or hired a property manager or management company to perform. 

Before companies created management software, DIY landlords had to complete almost every task manually. They’d meet their tenants in person to collect rent, or they’d have to screen tenants one by one. It all took a lot of time.  

Now, instead of going through the hassle of completing tasks by hand or overpaying property managers, landlords can capitalize on the advances in software over the past decade. 

With that in mind, let’s turn our attention to the features that enable increased productivity and simplified management.

Key Property Management Software Features

Online Rent Collection

Making rent payments easy is a good step towards ensuring your business stays afloat. 

Traditional methods of paying rent, like cash, add complexity compared to software solutions that enable tenants to send rent payments from their phones. But not all apps are created equal for property management — online options like Venmo or Zelle can make a mess. 

Tenant Screening

Unlike rent payments, tenant screenings have used an online component for some time. But a challenge arises because all your potential tenants personal info is written on paper. For your renter, this can present security risks. 

Namely, what happens in the event of a misplaced application? 

Get rid of the paper and conduct thorough online tenant screenings from anywhere while protecting your applicants’ information. 

Property Marketing

One of the best ways to reduce lost rent from vacancies is to list your properties on as many platforms as possible. With the right software, you can streamline this process by creating a listing and propagating it to as many sites as possible with just a few clicks. 

Instead of manually adding listings to individual listing sites, look for rental property managing software that lets you do it all at once. 

Maintenance Request Handling

Maintenance requests come in from various sources. Some of your tenants text repair requests, and others email them. Sometimes, you’ll get a call at 4 a.m. with bad news about a burst pipe. 

Instead of filtering through all these different notifications, the best property management system software centralizes your requests and puts them into a single interface for easy management. 

Streamlined Accounting

One of the most challenging aspects of running a rental property business is keeping track of all your expenses. Sometimes, you’ll toss a receipt in a shoe box and promise to get to it the next day. But that doesn’t always happen.

With property accounting software integrated with your landlord software, all your rent payments and expenses flow into a your accounting software for easy tracking and reporting. 

Top 5 Property Management Software Solutions in 2024

Of the features laid out previously, each listed software solution contains a mix of them. Some specialize in specific areas more than others, and of course, some options are more expensive than their competition.

Let’s take a deeper look.

TurboTenant

Best All-In-One Free Option

Landlords new to property management software might not see the value in a solution if they have to pull out a credit card just to use it. With TurboTenant, you can sign up for a free account to get a feel for the platform risk-free.

A free account gives you access to: 

And with the landlord app, you can manage your properties on your phone while seamlessly communicating with your tenants from anywhere. It’s an easy way to stay connected and productive while on the go. 

After experiencing the benefits of TurboTenant’s free version, you may choose to upgrade to our Premium offering. Gain access to a comprehensive landlord forms pack, lawyer-reviewed leases for every state, and reduced ACH and tenant screening fees. 

This cost-effective solution is a steal compared to hiring a property manager. 

Pros

  • Easy to use
  • Cost-effective
  • State-specific leases provide peace of mind
  • Unlimited properties included in the free tier
  • Continuing landlord education gives you an edge 
  • Free online calculators help you make sound financial decisions
  • Colorado-based support team here to help 7 days a week
  • REI Hub integration imports bank transactions for easy expense categorization

Cons

  • Rental accounting software isn’t free

Customer Reviews

  • Customers love how easy TurboTeant is to use
  • Users think that pre-screening tenants is easy
  • Reviewers agree that TurboTenant makes lease drafting simple
  • Reviewers find responsive customer service when they have questions
  • Users enjoy using the app
  • Some regret not receiving leads quickly, but configuration settings can make this process smoother

AppFolio

Ideal for Very Big Portfolios

If you manage a large number of doors, the solution for you might be AppFolio. 

You’ll see why after examining its Core tier. In the Core tier, each unit costs property managers $1.50 to manage, with a minimum monthly spend of $298. The cost includes access to:

  • Property accounting
  • Streamlined property marketing
  • Work order management
  • Online payments
  • Premium unit listings
  • Online leases
  • AppFolio’s standard support

Ultimately, however, AppFolio’s focus is on providing software for large-scale property management companies that work with a range of property types, from multifamily, student housing, affordable housing, and commercial real estate. 

To access affordable housing features, you’ll need to step up to its Plus or Max tiers. Plus starts at a minimum of $960 a month. That price includes access to advanced leasing metrics, corporate accounting, flexible reporting, and bulk actions. 

To get everything AppFolio offers in the Max tier, you’ll have to spend $7500 a month minimum. For a deeper look at how TurboTenant compares to AppFolio, click here.

Pros:

  • Built for large-scale operations
  • Scales quickly
  • Streamlined accounting
  • Bulk tenant charges
  • Excellent financial analysis tools
  • Top commercial property management software on the list

Cons:

  • Expensive
  • Lacking customer service
  • Not built for small portfolios
  • Not focused on continued landlord education
  • No state-specific leases

Customer Reviews:

  • Users agree that the user interface is easy to use
  • Reviewers like how comprehensive AppFolio is
  • AppFolio clients like that it efficiently organizes tenants, vendors, and owners
  • Some users wish AppFolio had more integrations

Buildium

Top Choice for HOA Management

While AppFolio’s focus appears to be on large-scale property management companies, Buildium seems to be aimed at small—and medium-scale property managers who work with HOAs and similar organizations.

This distinction is reflected in its pricing tiers. Buildium’s Essential tier starts at $55 a month and scales to $375/month for its Premium option. It’s a far cry from the upper levels of AppFolio’s pricing. 

For the listed prices, landlords can manage up to 20 units. More units drive the cost up in every tier. 

Once paid, investors who choose Buildium will find access to the most critical features included in this software segment. 

Features you can expect include: 

  • Accounting
  • Maintenance management
  • Online portals
  • HOA communication between owners, residents, non-resident owners, and board members

However, you’ll need to pay additional charges to access new client leads, and it costs $99 for each bank account you link.

Check out TurboTenant vs. Buildium for more. 

Pros:

  • 14-day trial requires no credit card
  • Showings Coordinator helps automate scheduling
  • Retail cash payments make paying rent easier for tenants
  • EZMail simplifies document mailing

Cons:

  • Several extra charges make budgeting tricky
  • Scaled pricing structure changes cost as doors are added
  • You have to pay extra if you use multiple bank accounts

Customer Reviews:

  • Customers like that Buildium helps them grow
  • Reviewers like how easy it is to use
  • Users like that tenants can boost their credit scores with on-time payments
  • Reviewers wish they could add pets easier
  • Customers wish they could integrate Buildium with accounting software

Landlord Studio

Best Accounting-Focused Software

If you want to company that puts a lot of emphasis on accounting in their core product, then Landlord Studio might be a good fit. 

That’s not to say LandLord Studio doesn’t offer a range of property management tools. You’ll find:

  • Application management
  • Tenant screening
  • Online rent collection
  • Property maintenance

After looking over their feature set, you find what you’d expect from property management software, but it’s clear that Landlord Studio empasizes accounting functionality.

In their Go tier, which is basically the entry level, Landlord Studio includes a feature you won’t find in the others: a free GPS mileage tracker to help you calculate your mileage at tax time. 

Upgrading to the Pro tier allows you to manage three units for $12 a month. Every additional unit costs a dollar. Most interestingly, however, LandLord Studio features automated bank syncing that can automatically suggest expenses pulled from your bank account.

It’s not as much of an all-in-one solution as the others, but it’s worth a look if you’re a small landlord focused on accounting. 

Pros:

  • Interesting accounting focus
  • Free tier available
  • Relatively inexpensive paid tier
  • Easy to use

Cons:

  • Limited expense tracking in the free tier
  • No rent reminders in the free tier
  • Limited document storage in the free tier
  • No e-signatures at the time of writing
  • No customizable lease agreements at the time of writing

DoorLoop

Best for Small Mixed Portfolios

For the final company on our list of the top property managers software available today, we found that DoorLoop offered a compelling option.

DoorLoop offers a wide range of management features for various real estate industry property types including commercial properties. 

In the Starter tier, landlords can manage up to 20 properties for $59 a month, billed yearly. If you add more units, you’ll pay a higher fee. In the Starter tier, you’ll get:

  • Accounting and financial access
  • Somewhat limited maintenance 
  • Online rent payments 
  • Tenant screening
  • Prospect CRM

Stepping up to the Pro tier, users gain online marketing, bank account conciliation, and QuickBooks sync. Finally, with Premium, users get access to unlimited e-signatures and data storage as well as free incoming ACH payments. 

For a deeper understanding, be sure to visit TurboTenant vs DoorLoop.

Pros:

  • Easy to use
  • Allows management of multiple property types
  • QuickBooks integration if that’s your accounting software

Cons:

  • Costs add up quickly
  • Starter tier doesn’t include marketing

Customer Reviews:

  • Customers like how easy DoorLoop is to use
  • Reviewers like DoorLoop’s customer service
  • Users find that DoorLoop’s costs rise sharply with additional units

Why TurboTenant is the Best Choice for Property Management in 2024

TurboTenant is the best property management software because it has all the features you need to manage your properties from a single location — and it’s free. As you grow your portfolio, you can hire a property manager to keep everything in order or confidently do it yourself from your computer or phone. 

While property managers charge anywhere from 8% to 12% of your monthly rental income, you can sign up for TurboTenant Premium and get access to all of TurboTenant for one low annual cost

Compared to ongoing monthly payments, using software built to help you do the job yourself makes sense. Here are list of popular property management softwares and how they compare to TurboTenant. 

FeatureTurboTenantAppFolioBuildiumLandlord StudioDoorLoop
PricingFREE OR Premium Option$29.99/unit/90 days$84/unit/yrDepends on Local Market$708/yr
Marketing / AdvertisingRequires UpgradeRequires Upgrade
50+ Syndication Partners
Finding Tenants
Customizable Online Application
Automatic Pre-Screener
Tenant Management36 States
Tenant Check-Ins
Rent Payments
AutoPay
Automatic Late Fees
One-time & Recurring Charges
Landlord Education & Community
Private Landlord Group
Weekly Newsletter
Free Webinars

For landlords who want to get the most out of their investments, TurboTenant is the clear-cut winner. 

Sign up today and see what TurboTenant can do for you. 

FAQ

How much does property management software cost?

Depending on the solution you choose, the right rental software could cost you nothing. You’ll have to consider your specific needs to determine whether choosing software with a hefty up-front fee will provide the tools you need to manage your properties effectively. 

If you want to streamline your operations immediately without needing payment, try TurboTenant.

What does property management software do?

It facilitates the streamlined management of rental properties by offering lease and tenant management tools, maintenance tracking, and financial oversight. It provides a centralized platform for organizing lease agreements, handling maintenance requests, and tracking rental income and expenses. Additionally, it often integrates online portals for tenant communication, allowing for efficient rent collection and maintenance coordination.

What property management software integrates with QuickBooks?

Software that integrates with QuickBooks includes Buildium, Rent Manager, AppFolio, Propertyware, DoorLoop, and Yardi. Although QuickBooks is the most popular accounting software, it lacks many features that rental property owners find especially useful, such as the ones that REI Hub has tailored for landlords.

What is cloud-based property management software?

Cloud-based property management software operates on remote servers, so you can access it from anywhere with an internet connection. It provides tools for lease management, maintenance tracking, and accounting within a centralized online platform. By leveraging cloud technology, property managers can streamline operations, improve accessibility, and benefit from automated updates and data backups.

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