As a property manager, you must sometimes wish there was a property management app to do some of your work. Well, this might no longer be just a fantasy –it is very likely there is a property management app to help you out with most of your day-to-day operations!
Indeed, becoming a property manager means you’re no stranger to the busy schedules and overlapping responsibilities of property management. So many tasks, but only one you! You may frequently get interrupted by phone calls from tenants, receive urgent repair requests or emails asking for more information about your rental properties. This means that other urgent work gets delayed. And before you even realize it, you might have just lost one full workday taking care of mundane repetitive chores that could have been automated.
Luckily, there are many property management apps that can make things easier for you and help you automate repetitive tasks and manage your rental properties. They are convenient as you can use them on the go with your phone, tablet or computer. In fact, using different apps seems to be one of the key emerging property management industry trends for 2020. In the following, we’ll provide our picks for the best rental property management apps for 2020. So read on to find the best app for rental property management that suits your needs.
#1 – Appfolio
Appfolio is a convenient rental property management app. It is actually a software, but it does have a mobile app. With Appfolio, you can manage different types of rental properties, including commercial, community association, student housing, and residential properties. This app for property management is handy for handling various different tasks from leasing and marketing to reporting and maintenance. In addition to this, it allows you to keep contact with renters and property owners online, sharing different documents, as well as accepting online payments, statements or maintenance requests.
It especially automates leasing related processes and allows rental property managers to accept online rent applications, track rents, market vacant units in the properties, and screen the potential renters. It also supports property inspection processes. The tool also provides some help on the financial side of running a property management business, such as providing you with key business metrics and a balance sheet of the financial gains and losses for all your rental properties.
#2 – Mashboard
The second property management tool is not technically a property management app. However, Mashboard has in a short time become one of the best property management tools out there. What makes it unique in comparison to the other tools on this list is that it will specifically help you grow your business.
By using Mashboard and Mashvisor’s database, you can quickly identify the next investment property for your client and grow your business by getting more rental properties under your management. Mashboard will help you identify which of your property management clients is ready to buy, so you do not have to waste your time searching for properties for the wrong clients. Qualifying your property management leads cannot get easier than this! You no longer have to spend hours investigating and evaluating these people as Mashboard will automatically gather all the data for you. The algorithm will do the evaluation of whether a person is actually likely to buy another property and you can leave vague guesstimations to the past.
Once you have identified the right client, Mashboard will help you find the right property that your client will purchase quicker. It has a rich database of investment properties from Auction.com, MLS, and off-market listings. Mashboard’s Property Recommender will match your client with the best investment property for their criteria with 90% accuracy! Once the system has made this match, you can download the property analysis report from Mashboard and show your client the property’s potential using the complete investment analysis (sales, rental comparisons, ROI, and more). And of course, this report is fully brandable so you get to show your client that your name represents industry expertise!
#3 – Buildium
Buildium is a popular rental property management app. Like Appfolio, it is software that also has a mobile app. As is common with property management apps, it is cloud-based software that focuses on the entire property management lifecycle. This software provides you tools for your business operations, leasing, and accounting. For example, with Buildium, you can easily check your tenants’ information, balances, requests, and store all your communications centrally.
It doesn’t matter how many investment properties you manage, this tool makes it easier. It provides support especially for the leasing side of property management. For example, you can market your rental properties, find new tenants, send reminders for late lease payments, collect rents, and create online and on-demand reports.
#4 – Yardi Breeze
Yardi Breeze is property management software for smaller residential and commercial real estate portfolios. It does not have a mobile application, but with its mobile-friendly interface, it makes for a useful tool for small to medium size real estate businesses. It provides support for all aspects of running a property management business from property management marketing and leasing to accounting. The software will allow you to post and market your rental properties fast and easy. It also allows the tenants to upload video and photographic evidence to support their maintenance requests.
This software also makes accounting easier. Yardi’s trusted accounting system tracks your revenues and expenses and you can rest assured your financial reports are accurate.
#5 – Yardi Maintenance Manager
Don’t get confused with the names, but this property management app is not the same as Yardi Breeze above. Yardi Maintenance Manager is a mobile app by the Yardi property management company. This app is not as comprehensive as the other software on this list, but it provides valuable support for tracking maintenance work. If you have multiple rental properties to manage with frequent maintenance needs, you know how hard it is to coordinate the work and schedules of technicians. This property management app allows you to schedule and track technicians in an easy way, send maintenance orders, approve invoices, and track the whole maintenance process on your phone or tablet. Ask your technicians to sign into the software on their mobiles and monitor their physical movements through the app –you’ll stay 100% up to date on where your technicians are working!
#6 – Propertyware
Propertyware, a subsidiary of RealPage, is a cloud-based, end-to-end property management app. It gives you all the property management tools for the entire property management lifecycle: marketing, accounting, maintenance, payments, dedicated portals for property managers and tenants, asset protection, and screening of new tenants.
What’s nice about PropertyWare is that they have released 5 checklist templates for their users for managing the most common property management workflows and processes. There is a dedicated checklist for upcoming lease expiration, lease renewal, late rent payment, as well as tenant move-in and move-out processes. This is especially helpful for new property managers. These checklists and the app’s automated processes will surely ease that beginner’s stress.
Thanks for reading our list of the 6 best rental property management apps that you need to start using by 2020! As a property manager, you know that residential property management is hard work, so why not utilize property management technology? As you probably noticed, the list contained property management apps/software with different specialties. Most of them focus on the day-to-day running of property management businesses. For those who are into making money in real estate, Mashboard is the app to grow your property management business. Therefore, it is our pick as the best property management app for 2020!