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ContinueProperty management software for small landlords should pack all the features you need in a cost-effective, scalable, and easy-to-use system.
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The best property management software for small landlords can help you enhance tenant experiences, optimize workflows, and increase overall profitability. But, unless you’re a seasoned investor with a large portfolio already, knowing which software is best for your needs can be a challenge.
For the same reason that a general accounting solution like QuickBooks might not be right to manage your rentals, not all property management software is suitable for all portfolios.
In this article, we explore what to look for in property management software for small landlords, and how they’re designed to be more affordable and less complex than software that caters to larger property portfolios.
Transitioning from paper and spreadsheets can seem daunting. However, good property management software for small landlords tailors its features, costs, and usability to your property management needs and can save you tens of hours in administrative tasks and hundreds of dollars in deductions you might otherwise miss.
Managing a smaller portfolio of between 1 and 50 units requires you to keep a keen eye on your operations and expenses. Opting for cost-effective property management software to ensure that you're optimizing your finances without compromising on essential features.
Cost-effectiveness isn't solely about the initial price; it's also about the long-term value the software provides. Striking the right balance between affordability and functionality is crucial.
While your portfolio might not look like Warren Buffet’s (yet), using professional tools will help you streamline operations, plan for scale, and mitigate risks. The software you select should offer a robust suite of features that cater to the various aspects of property management. From tenant screening to rent collection to financial management and reporting.
When you choose your property management software you should be thinking long term. It should have all the features you require now and enable you to add more units as your portfolio grows easily.
Responsive customer support will help ensure you get set up correctly and make the most of the software’s potential. This support should be paired with comprehensive help documents.
A user-friendly interface and straightforward navigation can significantly reduce the learning curve, allowing you to start reaping the benefits of the software without a prolonged adjustment period or expensive onboarding.
Rental property management software offers several valuable benefits.
Improved Time Management
From handling maintenance requests and conducting inspections to communicating with tenants and recording expenses, your day is packed. Even if you manage just a few properties, staying on top of everything can be overwhelming. With property management software, you can automate key tasks such as tenant communication and scheduling inspections.
Enhanced Professionalism
Being a small business doesn’t mean you can't provide high-quality services. Landlords who use rental property management software offer more professional services allowing them to reduce vacancies and increase tenant retention.
Increased Profitability
Never miss a deduction again. Good property management software should provide you with easy-to-use accounting tools that will help you take full advantages of the tax benefits of being a real estate investor. Reduce manual data entry and accounting errors with accounting automation, plus track your mileage, and even digitize receipts.
Landlord Studio comes out on top when compared to similar property management software for small landlords offering a full range of features, the most comprehensive accounting and reporting tools, and a free plan.
When it comes to property management software for small landlords, Landlord Studio emerges as a standout option that ticks all the boxes.
This comprehensive solution is designed to address the unique needs of individuals managing small to medium portfolios, offering an array of features that streamline every facet of property management.
Landlord Studio is a cloud-based property management software that has gained acclaim for its user-friendly interface, robust feature set, and unwavering commitment to aiding small landlords in their endeavors.
The platform's intuitive design ensures that even those new to property management software can navigate it with ease. With a focus on automation and organization, Landlord Studio seeks to alleviate the administrative burdens associated with property management, enabling landlords to invest more time in growing their portfolio and cultivating tenant relationships.
Landlord Studio offers three plans.
Pros:
Cons:
Landlordy is a simple and straightforward mobile app designed for landlords. Landlordy comes with an acceptable user interface, however, in comparison to some of the alternatives in this article, Landlordy's range of features is relatively modest.
Nevertheless, if your primary requirement is to effectively manage rent payments on the go and you're open to sacrificing some of the more advanced capabilities found in standard property management software, it might be worth considering Landlordy.
Landlordy provides a free version which can be used for 1 property. Or you can pay $14.99, to upgrade to their Mini plan. For users with up to than 10 units, there is a tier priced at $49.99, and for users with more than 10 units, you will need to pay $99.99.
Avail boasts a broader set of features than Landlordy and also provides a free plan. However, for users with more than 1 or 2 units the paid plan quickly becomes one of the most costly on this list. One of Avail's strengths lies in its listing syndication feature, which is designed to make it as easy as possible for you to secure new tenants.
Avail offers two plans. Their free plan has limited features and additional costs for features like rent collection. Their Plus plan costs $9 per unit per month. This includes the cost of rent collection fees and gives you full access to all of their features.
TenantCloud offers a comprehensive range of features with a focus on finding and managing tenants. They no longer support a free plan.
TenantCloud no longer offer a free plan. However, their Starter plan comes at a reasonable cost of $17 per month.
If you have more complex needs you will need to upgrade. Their Growth plan costs $32 per month, their PRO plan costs $55 per month and they offer custom pricing for enterprise customers.
Rentec Direct is another full-featured property management software for small landlords, offering tools for everything from online rent payments to robust reporting tools. Its accounting functionalities are well-received though less comprehensive compared to industry leaders like Landlord Studio.
Additionally, users have reported challenges in navigating Rentec Direct's interface and locating specific functions, which can lead to difficulties in its regular use.
Rentec Direct starts at $45 per month for up to 10 units, with costs escalating in accordance with a tiered model.
For instance, the pricing stands at $90 per month for 50 units, $180 per month for 100 units, and $900 per month for 500 units.
RentRedi’s user-friendly mobile application centralizes communication, documentation, and notifications for all parties involved.
One mentionable feature of RentRedi is its ability to aid small landlords in reducing vacancy rates and minimizing turnover time. The platform offers complimentary syndicated listings on Realtor.com and Doorsteps, facilitating broader exposure for rental properties.
SimplifyEm's primary focus revolves around simplifying rent tracking and collection, offering several handy features such as payment reminders.
SimplifyEm offer a free trial and their plans start at $40 per month and scales as you add more units.
TurboTenant is a well-established property management software for small landlords aiming to streamline their property management procedures. TurboTenant offers a holistic toolkit with listing syndication, tenant screening and lease agreement tools.
TurboTenant have a free tier and their premium plan starts at $9.92 per month. However, if you want the accounting tools you’ll need to buy their optional accounting add-on that starts at $15 per month for the first unit and an additional $5 per unit per month.
Rentler aims to help landlords simplify tenant interactions and property-related tasks, making it an excellent option for property owners and managers seeking streamlined operations.
The software excels in features like rent tracking and collection, as well as enabling communication between landlords and tenants within the platform. However, it lacks several of the more important admin and rental accounting features that other software on this list have.
Rentler is free to use. They make money through a variety of product upsells. Because their model is so tailored towards upsells these costs can quickly stack up.
Stessa empowers landlords with the ability to seamlessly collect rent, automate rent reminders for tenants, and offer real-time notifications upon rent payment.
With its user-friendly interface and a basic range of property management features. The software’s primary focus is on its financial management tools and offers rental property banking options as well.
Stessa offers two pricing plans. A free tier that comes with basic features like rent collection. Their manage plan which costs $12 per month, and their PRO plan which starts at $28 per month.
Property management software for small landlords packs all of the powerful professional features you’d expect in the tools used by pros, into a cost-effective and easy-to-use platform.
Landlord Studio is an all-in-one property management solution purpose-built for investors and property managers with small to medium-sized portfolios. Automate time-consuming tasks like collecting rent, issuing receipts, and tracking income and expenses, use templated emails to automate tenant communications and stay on top of your financials with ease.
Landlords that use Landlord Studio to help them manage their properties reported saving weeks of time in admin and as much as $500 more per property at tax time in additional deductions.
Plus, Landlord Studio pricing starts at free, no credit card required.
Small landlords have limited portfolios often ranging from 1 to around 10 units. Many small landlords continue to grow their portfolios over time. So it’s important that no matter how small your portfolio is now, the solution you choose can scale with you. Landlord Studio, for example, supports users with portfolios of just 1 or 2 units to several hundred.
The software you decide on should offer all the tools you need to manage your rentals, from creating listings and finding tenants to collecting rent and filing taxes.
We believe that landlords who learn more earn more. Whether that’s learning about how to depreciate property, handle ESA requests, or manage wear and tear, landlords who continually learn provide themselves an edge in the real estate industry. This is why we continue to develop powerful resources like our videos, state legal pages, blog content, and provide help and support via our FaceBook community, help documents, email, and phone.
When you use Landlord Studio’s free landlord software generates revenue when your tenant completes tasks like paying rent or submitting a background check.
Landlord Studio is an easy to use property management and accounting software designed for landlords.
Find and screen tenants, collect rent online, track income and expenses, run reports, and more - all for free.
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