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Top 10 rental property management software [best free & paid tools]
Managing rental properties, whether across the street or across the globe, can be expensive, complicated, and time-consuming. Screening potential tenants, collecting rent payments, and handling a steady flow of maintenance requests means the to-do list never seems to get any shorter.
If you’re a property manager or owner who wants to reclaim your time while staying on top of all angles of your business, you need rental property management software. These platforms include tools to simplify day-to-day operations, keep you organized, and help you monitor your investments no matter where you are.
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What is rental property management software?
Rental property management software is a platform that helps property owners and managers run their rental properties more efficiently. It typically includes features like rent payment portals, lease management, tenant screening tools, maintenance portals, and accounting tools.
With the right rental property management software, you can automate repetitive tasks, improve tenant communication, and get real-time insight into the health of your properties, all from one platform.
Top 10 rental property management software platforms
We’ve combed the web to find the best free and paid rental property management software on the market. Whether you’re managing a single seasonal rental property or a large international portfolio, there’s a solution that will help you reclaim your time and maximize your investment.
Landlord Studio
Landlord Studio¹ is a great platform for small-to-midside property managers who want tax-ready accounting tools.
Free plan available?: Yes
Key features:
- Desktop and mobile platform – Manage your properties in-office or on the go
- Automated rent collection and reminders – Keep your tenants paying on-time with automatic rent reminders
- Tenant screening tools – Easily vet tenants so you can fill your vacancies faster
- Full suite of accounting tools, including receipt scanning and storage – Keep track of your expenses inside the portal, including receipt storage, so you’ll never miss a write-off
| Pricing: Free for up to 3 properties, paid plans start at $12/month |
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Avail
Avail² is property management software built by popular online home listing service Realtor.com. It’s great for independent landlords who want to be able to list and manage their properties all in one place.
Free plan available?: Yes
Key features:
- Online platform – Access the platform from any browser
- State-specific, lawyer-created lease templates – Create leasing documents in just a few clicks
- Tenant screening and background checks – Make sure you’re renting to the best tenants with thorough background checks
- Rent collection and maintenance tracking – Stay on top of rent and maintenance with ease
- Real-time data insights – Get the most up-to-date information about your investment so you can make informed decisions about your property
| Pricing: Free, with option to upgrade to advanced tools for $9/unit/month |
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Buildium
Buildium³ is a robust property management software that’s optimized for professional property managers with large, mixed portfolios.
Free plan available? No
Key features:
- Online payment portal for rent collection – Easy payments for all your tenants.
- Showings coordinator to help you seamlessly coordinate unit viewings – Take the hassle out of turnover with an easy way to schedule all your unit viewings
- Renters insurance available through the program – Protect your investment by offering tenants affordable rental insurance directly through Buildium
- In-depth analytics to help you monitor income, expenses, and more – Get a full suite of analytics tools to help you maximize returns while minimizing costs
| Pricing: Starts at $58/month |
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TurboTenant
TurboTenant⁴ is another great rental property management software for landlords who are looking to minimize upfront costs as they scale.
Free plan available? Yes
Key features:
- Unlimited rental listings on free plan – Perfect for landlords who are new to property management software but not to managing a large portfolio
- Free application and lease agreement templates – Rent with confidence using pre-screened templates
- Rent reminders and automatic late fees – Keep on top of tenants without texting
- Ability to add-on features as your portfolio scales – You can upgrade the platform tool-by-tool as your business grows
| Pricing: Free, with add-on features available. |
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TenantCloud
For landlords that want to streamline their property listing process, TenantCloud⁵ is a great option, thanks to its ability to post vacancies to popular listing sites right from the dashboard.
Free plan available? No
Key features:
- Listing syndication to Rentler, Apartments.com, and more – Create and post listings to all the most popular rental sites in just a few clicks
- Can accept online applications through the portal – Fill vacancies faster with online applications
- Includes lease templates – Make leasing easier and compliant with local laws
- Includes access to professional bids for maintenance through included vendor network – Don’t have a maintenance team you trust? You can find one directly through the program
| Pricing: Starts at $18/month |
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AppFolio
AppFolio⁶ is an enterprise-grade platform that is another popular option for property managers with large portfolios.
Free plan available? No
Key features:
- AI leasing assistant – AI tools help you stay on top of a large portfolio with ease. This assistant can help with leasing, tenant communication, and more
- Leasing CRM – Get clarification over your leasing process with a custom leasing funnel
- Smart maintenance scheduling – AI-assisted maintenance scheduling helps you and your maintenance team get repairs done efficiently
- Ability to generate custom reports – Get all the data you need, and none that you don’t with custom reporting tools
| Pricing: Contact for custom quote |
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Hostaway
Hostaway⁷ is one of the most popular short term rental property management software programs, with tools specifically designed to make managing your Airbnb, Vrbo, or other vacation rental property a breeze.
Free plan available? No
Key features:
- Automated listing descriptions – Create listings optimized for the short-term rental market with help from your digital assistant
- Dynamic pricing tools – Maximize returns with automatic dynamic pricing on your properties
- Automate guest communication and staff messaging – Automated chatbots can communicate with guests and staff, improving response time and streamlining issues
- Custom direct booking website – Save money on third-party booking fees by providing renters with a direct booking site
| Pricing: Contact for custom quote |
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RentRedi
RentRedi⁸ is an affordable, mobile-first option for landlords who want to manage a large portfolio without increased costs.
Free plan available? No
Key features:
- Tenant mobile app – Tenants can upload documents, pay rent, and ask questions right through the app
- Auto-scheduled late fees – Automatically collect fees for late payments
- Automated tenant onboarding and document storage – Tenants can self-service their own onboarding, and you can store leasing documents right in the app
- Unlimited units – The price does not increase based on the number of units
| Pricing: Starts at $12/month |
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DoorLoop
DoorLoop⁹ is a total management solution that covers everything from tenant onboarding to mass communication across your entire organization.
Free plan available? No
Key features:
- Tenant CRM – Manage large tenant portfolios through a dedicated tenant CRM
- Collect cash payments through Western Union – Track cash payments through integration with Western Union
- Mass tenant announcements – Easily send out announcements about changes to the property, maintenance issues, and more
- Integration with popular listing sites – Integrates with most popular property listing sites like Zillow to easily list vacancies
| Pricing: Starts at $69/month |
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Rentec Direct
Rentec Direct¹⁰ is a great platform for property managers who want detailed accounting tools alongside their standard property management suite.
Free plan available? No
Key features:
- Mobile platform – All your tools on your mobile device
- Tenant and owner portals – Easy-to-use for both tenants and landlords
- Online rent payments – Collect rent seamlessly through the platform
- Ledger accounting tools – Get bank-grade accounting with their easy-to-learn ledger-based accounting tools
| Pricing: Starts at $45/month |
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Pro tips for choosing the right property management software
There’s no “one-size-fits-all” solution when it comes to property management software. The key things you want to consider when deciding which option is best for your business are:
- Portfolio size – Consider not just the size of your existing portfolio, but your potential for growth year-over-year
- Software integrations – Think about what other tools you use to run your business, and see if there's software that will easily integrate with it to further streamline your administrative tasks
- Accounting Tools – Do you already have an accounting software you love, or would you like to do ALL of your accounting inside your property management dashboard?
- Short-Term vs. Long-Term Rentals – Short-term properties have different management needs than long-term properties, and some property management software is specifically designed to facilitate short-term rentals, while others have tools to manage both
- Budget – Consider your overall budget, as well as your potential for expansion. Some software programs have a lower cost to start but bill per property, while others may have a higher monthly fee but include an unlimited number of properties, so your expenses will never increase
Frequently Asked Questions
Who should use rental property management software?
Any rental property owner or manager who wants to automate leasing, tenant screening, rent collection, and maintenance tracking.
How does rental property management software work?
Most rental property management provides both property managers and tenants with online portals. In the tenant portal, tenants can pay rent, request maintenance, and communicate with their landlord.In the management portal, property managers can oversee every aspect of their properties, from payments due and received, to outstanding maintenance requests, to data-driven insights into their expenses and income.
What are the price ranges for rental property management software
Prices range from $0-$200+ per month on average, depending on portfolio size and overall features.
Can I use them on my mobile device?
Many of these property management platforms have dedicated mobile apps, so you can manage your properties directly from your mobile device. Most also offer tenant apps that they can use to make rent payments, request maintenance, and more.
Can I use rental property management software to manage international property?
Yes. In fact, for international property managers, these tools are an even more critical part of staying on top of their properties since you are often unable to oversee them in person.
Whether you’re renting out a small duplex unit or an international portfolio, rental property management software can ensure you stay on top of your investment with less stress.
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Sources
- Landlord Studio – Rental management software
- Avail – Rental management software
- Buildium – Property management software
- Turbotenant – Rental management software
- Capterra – Tenant Cloud review
- Appfolio – Cloud-based property management software
- Hostaway – Vacation rental software
- Rentredi – Property management software
- Doorloop – Property management software
- Rentec Direct – Property management software
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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