Last Updated: January 31, 2024

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Rohit Rawat

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Managing a rental property can be a daunting task, especially for small landlords. There are many things to keep track of, from rent collection and tenant communication to maintenance and bookkeeping. Without the right tools, it can be easy to get overwhelmed.

That's where property management software comes in. This type of software can help you streamline your operations, save time and money, and avoid common mistakes.

In this blog, we will discuss the benefits of using property management software for small landlords. We will also provide a list of some of the most popular and affordable options on the market.

What is Property Management Software?

Property management software is a specialized platform or application designed to assist landlords, property managers, and real estate professionals in efficiently managing various aspects of property-related tasks.

These real estate software solutions are designed to streamline and automate processes associated with property management. This makes it easier to oversee multiple properties, handle financial transactions, communicate with tenants, and track maintenance tasks. 

  • Recognizing the financial significance of property management software, their need among small landlords, realtors, and investors grew by 4.3% from 2019 to 2021. 
  • The global property management software market is expected to reach $2.70 billion by 2030.
  • 80% of property managers handle a wide scope of activities like rent payments, tenant management, maintenance requests, and vetting prospective clients. Weโ€™ll see later in the blog how property management software can help in all these activities which makes it an essential part of your business.
  • 45% of landlords manage their own properties.
  • Landlords handle approximately 6 repair calls a year from tenants.

10 Best Property Management Software for Small Landlords

Although the importance of custom software development canโ€™t be overlooked, there are still many ready-made options that offer excellent flexibility and customization.

Letโ€™s take a look at them.

Landlordy

Landlordy - Property Management Software for Small Landlords

Landlordy is a user-friendly and affordable property management software for small landlords. It offers a variety of features to help you manage your rental properties, including tenant management, lease management, maintenance management, financial management, document management, and communication tools. That makes it one of the best property management software for small landlords.

Landlordy also has a mobile app so you can manage your properties on the go.

Price of Landlordy

Landlordy offers a free version which is limited to a single rental property/unit, single tenant lease and has limitations on number of expense/payment records.

The full-featured version of Landlordy is available through a one-time purchase with no subscription fees.

The paid versions are-

Mini

Landlordy-mini-price

Plus

Landlordy-plus-price

Pro

Landlordy-pro-price

๐Ÿ‘‰ Find out more about Landlordy

TenantCloud

Tenant-cloud - Property Management Software for Small Landlords

TenantCloud is another popular property management software for small landlords that is known for its ease of use and affordability. It offers a similar range of features to Landlordy, including tenant management, lease management, maintenance management, financial management, document management, and communication tools. TenantCloud has a mobile app.

Price of TenantCloud

TenantCloud comes with different paid packages depending on the size of your business and your needs. These are the monthly charges but you can save 10% by opting to pay annually.

Tenant-cloud-price

They also have the option to give you a demo on request so you can understand if TenantCloud is the right fit for you or not.

Here are the ratings of TenantCloud on some popular review websites:

๐Ÿ‘‰ Find out more about TenantCloud

Doorloop

Doorloop - Property Management Software for Small Landlords

Doorloop is a top property management software that is more robust and is designed for landlords and property managers of all sizes. It offers a wider range of features than Landlordy and TenantCloud, including marketing tools, vacancy management, and performance reporting. Doorloop also has a mobile app.

Price of Doorloop

DoorLoop offers flexible pricing plans to accommodate various property management needs.

Doorloop-price

Whether you're a small-scale landlord or managing a large portfolio, DoorLoop provides options that align with your budget and requirements.

Here are the ratings of Doorloop on some popular review websites:

๐Ÿ‘‰ Find out more about Doorloop

Buildium

Buildium - Property Management Software for Small Landlords

Buildium is a cloud-based property management software for small property owners that is already used by a wide range of landlords and property managers. It is a powerful and scalable solution that can be customized to meet the needs of businesses of all sizes.

Similar to previous property management software, Buildium offers a comprehensive set of features.

Price of Buildium

Buildium comes with 3 types of paid plans. Each has a different set of features (apart from a few common ones) that you can choose from according to your business requirements.

Buildium-price

Here are the ratings of Buildium on some popular review websites:

๐Ÿ‘‰ Find out more about Buildium

Appfolio

Appfolio - Property Management Software for Small Landlords

AppFolio is a leading provider of property management software. Its flagship product, AppFolio Property Manager, is a cloud-based solution that is used by a wide range of landlords and property managers especially small landlords.

AppFolio Property Manager also offers a wide range of features that will make your job of managing multiple properties a piece of cake.

Price of Appfolio

The price of different Appfolio plans are interesting as they are priced per unit. Therefore, all you need to do is figure out the features you want that are clearly mentioned on their website.

Appfolio-price

Here are the ratings of Appfolio on some popular review websites:

๐Ÿ‘‰ Find out more about Appfolio

Stessa

Stessa - Property Management Software for Small Landlords

Stessa is a cloud-based property management software solution for real estate investors. It offers a unique set of features that are specifically designed to help investors track and analyze their property performance.

Stessa also integrates with a variety of other real estate tools, such as QuickBooks and TurboTax.

Price of Stessa

The price plan of Stessa is quite simple. It has a free plan to get you started and if you need the feel to upgrade, it has just one paid plan. That means more benefit and less choice paralysis!

Stessa-price

Here are the ratings of Stessa on some popular review websites:

๐Ÿ‘‰ Find out more about Stessa

Landlord Studio

Landlord Studio - Property management software for small landlords

Landlord Studio is a cloud-based property management software company that offers a mobile-first platform. It is designed to help landlords and property managers simplify their workflow as well as manage their rental properties efficiently.

Their software typically includes features like:

Accounting and rent tracking: Keep track of income, expenses, and rent payments, including online rent payments.

Tenant screening and communication: Run credit checks, manage applications, and communicate with tenants through the platform.

Maintenance management: Track repair requests, schedule maintenance appointments, as well as manage work orders.

Reporting and analytics: Generate reports on income, expenses, vacancy rates, and other key metrics.

Price of Landlord Studio

Landlord Studio has 2 price plans.

One is the GO plan that is free and is best if you have 3 units to manage. The other one is the PRO plan that comes with a 14 day free trial.

Here are more details-

Landlord Studio Price

Here are the ratings of Landlord Studio on some popular review websites:

๐Ÿ‘‰ Find out more about Landlord Studio

Avail

Avail- Property management software for small landlords

Avail provides cloud-based property management software for small businesses seeking efficient portfolio management. Their platform prioritizes key functionalities such as:

Optimize tenant acquisition: List vacancies across major platforms, manage applications online, and conduct comprehensive background checks seamlessly.

Automate rent collection and financial tasks: Securely collect rent payments online, generate detailed financial reports, and track income and expenses effortlessly.

Simplify tenant communication and maintenance: Facilitate secure in-app communication, manage maintenance requests with a built-in ticketing system, and also foster efficient tenant relationships.

Ensure regulatory compliance: Stay updated on relevant regulations and access resources to navigate legal matters with confidence.

Maximize mobility and accessibility: Manage your entire portfolio on the go with the Avail mobile app, providing convenient access at your fingertips.

Price of Avail

Avail also has 2 price plans. One is free and the other one is a paid plan that includes premium features along with all the features of the free plan. Following are the details-

Avail Price

Here are the ratings of Avail on some popular review websites:

๐Ÿ‘‰ Find out more about Avail

Rentec Direct

Rentec direct - Property management software for small landlords

Rentec Direct empowers property professionals with a comprehensive, cloud-based property management software (PMS) solution. Their centralized platform simplifies daily operations, from online rent collection and financial reporting to managing tenant communication and maintenance requests.

This property management software for small property owners also caters to diverse needs, offering scalable plans for owners of residential and commercial properties. Their user-friendly interface and mobile app ensure accessibility and convenience, while integrations with third-party services enhance functionality. Renowned for their user-centric approach and dedication to customer support, Rentec Direct also empowers clients to operate efficiently, elevate tenant experiences, and stay ahead of the curve in property management technology.

Price of Rentec Direct

Rentec Direct has a very interactive pricing calculator that you can use to evaluate the charges based on the number of units you own.

Following are the details-

Rentec Direct Price

Here are the ratings of Rentec Direct on some popular review websites:

๐Ÿ‘‰ Find out more about Rentec Direct

SimplifyEm

SimplifyEm - Property management software for small landlords

SimplifyEm empowers landlords and property managers of all sizes with a user-friendly and comprehensive cloud-based property management software (PMS) solution. Their platform focuses on optimizing rental operations and increasing ROI through key features such as:

  • Simplified Accounting and Financial Management
  • Streamlined Tenant Management
  • Enhanced Marketing and Leasing Features
  • Compliance and Legal Support
  • Mobile Accessibility

Price of SimplifyEm

SimplifyEm has a flexible pricing plan that gives you the freedom to choose one according to your requirement.

SimplifyEm Price

Here are the ratings of SimplifyEm on some popular review websites:

๐Ÿ‘‰ Find out more about SimplifyEm

If you still want a software that will focus on your specific business needs, you can opt for custom software consulting for digital transformation of your real estate business.

Features of Property Management Software for Small Landlords

Now that we know about all the major property management software for small landlords, letโ€™s discuss their features in detail.

Features-of-Property-Management-Software-for-Small-Landlords

Tenant Management

Within property management software for small business, tenant management is centered around fostering efficient communication and interaction between you and your tenants. The software often includes tenant portals, empowering tenants to access lease agreements, payment history, and submit maintenance requests directly.

Additionally, it centralizes essential tenant information, lease terms, and contact details, facilitating proactive management of lease expirations and renewals. Integrated communication tools further streamline direct interactions between you and tenants, ensuring quick response times and effective issue resolution.

Lease Management

A pivotal aspect of property management software for small property owners is the automation and organization of lease management processes. The software automates the tracking of lease terms, renewal dates, and other critical milestones. It facilitates the creation of digital lease agreements, customizable to property-specific terms and conditions.

Automated alerts and reminders notify you of upcoming lease expirations, enabling timely actions such as lease renewals or marketing the property for new tenants. This ensures that you  stay organized and proactive in managing lease agreements across your portfolios.

Maintenance Management

A property management software facilitates efficient maintenance management, ensuring well-maintained properties and prompt addressing of tenant requests. The software typically includes a centralized maintenance request system where tenants can submit requests.

You can then efficiently track, prioritize, and assign tasks to maintenance staff or contractors. The property management software for small landlords can also support the scheduling of routine maintenance tasks. That allows you to proactively address property upkeep and minimize potential issues.

Financial Management

Within property management software, financial management tools are designed to streamline the tracking of income, expenses, and overall financial health of properties. Online rent payment options and automated rent collection simplify the payment process.

The software also enables you to record and categorize property-related expenses, providing a comprehensive view of financial data. With the generation of detailed financial reports, you gain insights into property performance, profitability, and areas for potential improvement.

Document Management

Document management features in property management software play a crucial role in organizing and accessing essential documents related to properties, leases, and maintenance. The software provides secure document storage for lease agreements, inspection reports, insurance documents, and other critical paperwork.

This centralized repository ensures easy retrieval of documents when needed, reducing the time spent searching for crucial information. Some property management software for small landlords also support secure document sharing, enabling you to collaborate with tenants, contractors, or other stakeholders.

Communication Tools

Effective communication tools embedded in property management software foster collaboration and transparency among you, tenants, and stakeholders. Built-in chatbots or communication hubs facilitate direct communication within the platform. Automated notifications and alerts keep stakeholders informed about important events, such as lease renewals or pending tasks.

The software also includes tools for you to communicate important information, announcements, or updates directly to tenants, ensuring timely and clear communication channels.

Customizable Reports

Customizable reporting features in property management software for a small business empower you to analyze data and make informed decisions. These tools allow you to tailor reports to focus on specific metrics or performance indicators relevant to their goals. The software often includes data visualization options, presenting information through graphs, charts, and tables for easy interpretation.

You can export reports in different formats, such as PDF or Excel, facilitating seamless sharing of information with stakeholders and enabling further analysis of property performance.

Benefits of Property Management Software for Small Landlords

Benefits-of-Property-Management-Software-for-Small-Landlords

Time-Saving Efficiency

As a small landlord, time is one of your most valuable resources. To help you with this, property management software steps in to automate tasks like rent collection, lease renewals, and maintenance requests. This automation not only frees up your schedule but also ensures that these critical tasks are handled efficiently and without error.

By utilizing the software's automation features, you'll find that you have more time to focus on higher-level strategic activities. This could mean exploring new investment opportunities, improving existing properties, or simply enjoying a better work-life balance.

Improved Tenant Communication

Effective communication is the cornerstone of successful property management. Thatโ€™s why you need a property management software for small property owners equipped with features like messaging and notifications. This empowers you to respond promptly to tenant inquiries and concerns, creating a positive tenant experience.

These communication features help you foster strong tenant relationships, which can lead to longer lease terms, lower turnover rates, and ultimately, a more stable and profitable rental business.

Rent Collection and Financial Management

Ensuring consistent and timely rent payments is essential for maintaining a healthy cash flow. Therefore, it is essential that you receive payments on time. By using a property management software, you can offer a secure and convenient platform to your tenants for online rent collection. Additionally, it assists in tracking income and expenses, providing a clear financial snapshot of your properties.

By leveraging the software's rent collection and financial tracking capabilities, you'll have a better grasp on your property's financial health. This knowledge will enable you to make informed decisions about pricing, expenses, and investments.

Lease and Document Management

A property management software for small landlords can help you prevent misplacing or losing critical documents that can lead to costly mistakes and legal complications. It acts as a central repository for all lease agreements, tenant information, and important documents. This organized approach ensures that you have quick and easy access to all necessary paperwork.

With the software's document management system, you'll never have to worry about misplacing a lease or important document again. It provides a reliable and secure location for all your property-related paperwork.

Maintenance and Repairs Tracking

Regular maintenance and prompt repairs are essential for keeping your properties in top condition and ensuring tenant satisfaction. This proactive approach helps you stay on top of necessary repairs, reducing the likelihood of costly issues down the line. If you utilize property management software for small business, youโ€™ll get tools for scheduling and monitoring maintenance tasks which will make your job easier.

The software's maintenance tracking features enable you to create a proactive maintenance schedule, ensuring that your properties remain in excellent condition. This not only keeps tenants happy but also helps maintain the long-term value of your investments.

Expense Tracking and Reporting

A clear understanding of your property's financial performance is crucial for making informed decisions. Property management software generates detailed financial reports, offering insights into income and expenses for each property. This transparency empowers you to make data-driven choices to optimize your investment strategy.

With access to comprehensive financial reports, you'll have a powerful tool at your disposal. You can analyze the data to identify areas for improvement, allocate resources effectively, and ultimately, maximize the profitability of your rental properties.

Organized Property Records

Access to organized and up-to-date information is critical for efficient property management. Property management software maintains a comprehensive database of property details, including tenant histories, lease terms, and maintenance records. This centralized hub ensures that you can quickly retrieve the information you need, when you need it.

With all your property data organized and easily accessible, you'll have the confidence that you're managing your properties effectively. Whether it's reviewing tenant histories or tracking maintenance tasks, you'll be able to do so with ease and efficiency.

Tenant Screening and Onboarding

Selecting reliable tenants is one of the most important aspects of property management. Doing that requires thorough tenant screenings, including background checks and credit reports. But trying to perform these tasks manually can be quite daunting.

Again, property management software for small property owners can help you with the screening process by performing the necessary steps. This rigorous screening process minimizes the risks associated with problematic renters and helps you find tenants who are a good fit for your properties.

You'll be equipped to make informed tenant selection decisions by utilizing the software's screening tools. This leads to a more stable and reliable tenant base, reducing turnover and potential issues down the line.

Accessibility from Anywhere

In today's fast-paced world, flexibility is essential in managing your properties. You need a solution that will help you manage your business from anywhere. Property management software allows you to access your management system from any device with an internet connection. This level of accessibility provides you with the freedom to manage your properties from wherever you are.

Whether you're at home, in the office, or on the go, you'll have the ability to oversee your properties and respond to any situations that arise. This flexibility ensures that you're always in control and able to address any property management needs, no matter where you are.

Enhanced Property Value

Property management software helps you stay on top of maintenance and compliance, ultimately contributing to higher property values and attracting quality tenants. Also, well-maintained properties that are compliant with regulations tend to have higher market value. This leads to a more profitable and sustainable property management business.

By using the software to ensure your properties are in top condition and compliant with regulations, you're not only providing a better living experience for your tenants but also enhancing the overall value of your investments. This ultimately leads to a more successful and profitable property management business in the long run.

Book-a-free-consultation-for-property-management-software-development

Build an Affordable Property Management Software with Narola Infotech

Juggling the responsibilities of managing rental properties can be an overwhelming task, especially for small landlords with limited resources. Property management software offers a much-needed solution to streamline operations, enhance tenant relations, and safeguard against legal issues.

However, the high cost and complexity of many property management software solutions can deter small landlords from adopting this valuable tool. That might prompt you to build your own software that makes it pertinent for you to carefully choose the right custom software development company.

At Narola Infotech, we understand the unique challenges faced by small landlords, and we are committed to providing affordable as well as customized property management software solutions that meet their specific needs. Our team of experienced developers is adept at creating user-friendly, scalable software that empowers small landlords to manage their properties efficiently and effectively.

If you're seeking such a custom property management software solution, we are here to help. We invite you to contact us today for a personalized consultation and discover how we can empower you to manage your properties with ease, efficiency, and cost-effectiveness.

Frequently Asked Questions (FAQ)

See the answers to some of our most commonly asked questions below.

Custom property management software is tailored to the specific needs and requirements of a property management business. Unlike off-the-shelf solutions, which offer a standardized set of features, custom software is designed and developed to address unique challenges, workflows, and preferences of the client. This ensures a more personalized and efficient solution.

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