Real estate is one of the most lucrative businesses you can ever go into. Think about it. Everyone needs a roof over their heads The world is getting more and more developed every day. Buy land or a building for cheap today and leave it for 5-10 years then ask the experts how much you could sell it for. You would be amazed.
The world is now a global village and everything is currently geared towards technology. No need to run your business manually when there is software to do that. Every business owner would opt for less human error in the day to day running of their business.
Property management is a way to erect a structure that can be run with minimal costs and losses both hidden and visible. It is a system that combines individual properties in a connected network. It also helps automate certain processes to maximize profit and gain the trust of satisfied buyers and tenants.
It lays down a way to effectively handle costs of upkeep for different properties, the maintenance and inspection, advertising vacant properties and collecting rent. It also involves doing a background check on prospective tenants or buyers.
Sure you can do all these manually. After all, that’s how our forefathers did it. The question now would be if you are ready to go through all the stress when you know there is a simpler alternative.
If you own a chain of hotels or real estate empires then you are probably already using some sort of property management software because we honestly don’t know how else you can manage. Right now, hotels have about three ways that they manage their operations. They either go about it the old fashioned way by making sure that everything is written down in ledgers and books, using servers or using an automatic software. Making use of automatic software is by far the fastest and most effective method.
In this day and age, project management software is important because they not only save time but money also. A good project management software can take care of a lot of processes for hotels such as report printing, booking, generating bills, handling reservations, tracking the check-in and check-out times, communicating with guests and so much more. If you don't have a hotel but are into real estate it could also do a lot or you. It can work with channel managers, revenue management systems and tenant rent trackers to monitor due dates for rent, send automated messages, and scheduling dates maintenance and inspection of the property.
It can manage bookings and reservations.
Easy to use
It can manage the front desk.
Has a drag and drop calendar.
Can bill payments
Manage and plan prices
Allows interfaces from third parties
Can manage sales channels
Can manage international bookings
Support for tenants
Has a tenant database
Flexible and scalable
Easy communication with guests
In today’s economy, property management is a crucial thing to do for everyone to keep tracks of his or her property. The property here includes assets—both personal and capital. With property management, it will be so much easier for you to manage the cycle of any activities including your property.
In which, the activities can be varied in the form of control, maintenance, disposition, and many others. In line with this, certainly, property management software would easily save you the trouble from doing it all alone, manually.
The list will only include project management software that is free though they may have paid plans. It would not contain software that has only free trials for a while However, some of the free project management software we talk about may only support one user and have basic functions. If you need more features you have to upgrade to a higher plan.
With Cozy, landlords can screen potential tenants, manage applications from renters, and collect the rent online. Tracking requests for maintenance, making market listings and communicating with the clients or tenants are also possible.
However, on the bright side, once you over that one problem with internet connection, then you can enjoy this specific feature where rent payments can be collected on time via online. Better yet, this Cozy tool also provides you with the best privacy and security over your data of personal and properties.
Property managers using Cozy can make listings online. The listing would include image galleries with comprehensive lease terms and information about available amenities and if pets are allowed.
Another awesome thing is that the listings could be put on sites that partner with Cozy for free. You are even allowed to have a URL that could be shared on other sites like Craigslists and various social media platforms
There is a feature called Cozy Renter Profile that prospective renters can create. The profile will have important personal information about the renter. Such information as the name, employment, credit reports, salary , and references are important to the landlord. Potential tenants also have the opportunity to make themselves more appealing to the landlord my uploading a short bio that would be in their favor Landlords are also able to do background checks on these applicants before deciding who gets to live in their house.
Rent could be collected via this software which makes life so much more easier for the landlords.
There are free features but if you need more you have to upgrade.
Screening reports for tenants: $40 per month.
Express payouts: $40 per month
Rent estimates: $20 per month
Express payout: $3 per month
Insurance or renters: $20 per month
Can organize property expenses.
Can collect rent.
It can receive applications from renters.
Has screening tools.
Can track requests for maintenance.
Shows tenants’ credit reports
Can do background checks
Can share documents
Keeps histories of transactions.
It can add unlimited roommates and tenants.
The free version of Rentec Direct is called Rentec Basic. It is awesome for people who have 10 or fewer than 10 properties to manage. You are allowed to manage transactions, store documents and file them, track finances and store files online.
Pro Plan: $35 per month
Premium: $40 per month
Helps with screening the tenants
Tenant and property accounting
Managing files online
Tenant and property accounting
Smart Property Manager is another awesome tool for those who have fewer than ten units up for rent. There is a home dashboard from which you go to other features. You can track your tenants, do your accounts, see histories of payments, manage tasks and documents.
The Professional edition goes for $13.14 per month (converted from GBP)
The Premium edition goes for $65.99 per month (converted from GBP)
The Enterprise edition goes for $330.21 per month (converted from GBP)
Able to track the value of various properties.
Able to store images and files
Have property accounts
TenantCloud is a property management tool that is free for landlords. It helps them collect payments online, create leases, manage requests for maintenance, manage property details and keys and even schedule reminders. Renters are also allowed to set up their renters profile where they can send online applications and maintenance requests.
What is the most useful thing than having your property management tool to be available in PC? Of course, it is for a tool to be also available in mobile. Yes, this TenantCloud is available on both PC and mobile. Obviously, it will ease you to access it anytime and anywhere.
The better thing is that this TenantCloud also provides the user with any information regarding the tenants’ background. As for the contra, the contra of having TenantCloud as your tool in managing property is that the maximum number of properties that you can manage in one account is only up to 75. Thus, this tool is not recommended for those having more than 75 properties.
Here you get the basic functions.
The standard plan goes for $9 per month or $90 per year
The advanced plan goes for $35 per month or $350 per year
It can give late fees automatically.
It can do accounting.
Able to do leases online
Accepts payments online
Accepts maintenance requests
Can export and import data
Able to send service and equipment reminders
Track tenant insurance
Have a marketing website
Receive rental applications
Can customize your dashboard
Has a template builder for agreement
Can manage property keys
Has a calendar
If you have just one property for rent then Pendo is the software for you. The users are allowed to manage and send applications online, manage applicants and leads. They are also able to share leases and sign them online. They can even make websites for the property and screen prospective tenants.
To get the basic functions
Indie goes for $29 per month or $312 per year
Pro: $99 per month or $1,068 per year
Able to sign and share leases.
It can manage applicants and leads.
Manage and send applications online.
Create tenant profiles.
Can advertise your rentals
Pay rent online
Screen prospective tenants
Property can have its dashboard
Innago is a cloud-based property management tool that can be used anywhere. It is best for landlords that have both small and medium-sized properties as it helps them manage it effectively. It offers tools to help manage accounts, manage the tenants, customize leads, make financial data that can be exported and invoices.
All versions are free. Cool right
You have access to it online anywhere.
You get an account manager that is dedicated.
Free tools to manage tenants.
Can make your lease agreements.
There is no limit to how many leases can be signed.
Can store the leases online.
Can export the financial data.
It can add different banks to deposit funds.
Can generate your custom invoice.
Can manage invoices that are recurring.
Able to record payments that were made offline.
Has a portal for maintenance requests.
Helps with communicating with tenants.
Can send payment reminders to tenants.
Online Rental Property Manager (ORPM) is a good platform for landlords that wish to oversee their rented properties and units. It helps them manage tenant applications and leases. Something we love about it is that is can be customized in such a way that it fits the needs of each user. It is also cloud-based. This means that users can access it anywhere via various devices and web browsers.
For all versions
It can import data from CSV.
Can export data to CSV.
Can add manage and search for tenant leases and applications.
It provides support for its users.
Helps in the management of tenants and applicants.
It helps landlords to manage their units and properties.
AppFolio is the property management software that you can consider. As reviewed by one famous review website reviews.com, this software can be considered as one of the best one per 11th June 2020. It is not an odd thing since, obviously, managing and marketing can be no longer your problem if you use this AppFolio.
However, as everything has its pros and cons, the pro of having AppFolio to help you is definitely the variety of features offered by the software. On the other hand, the contra of having this software is that an unstable internet connection is not recommended.
The second tool that is recommended in this list of the best free property management software 2020 is Buildium. This is just another notable tool that you can consider. With its variety of services focusing on residential properties, this software is expected to help you to manage either student housing or even housing community in general.
The pros of this tool are that the software is pretty much available on various platforms (means easier access) and has a very good accounting. Whereas the contra is that the software is not recommended for a big scale property management.
Well, the other top-notch software coming up to your rescue is Propertyware. Just like most of the software, this Propertyware is also a cloud-based tool, hence internet connection is, without a doubt, needed at any time where you want to access and use this property management tool.
However, even if this is somewhat understandable, this can be also the contra of using Propertyware that you might consider later. As for the pros, the pro of having Propertyware as your tool is the user (or manager) can directly receive their payments through the portals.
MRI Software is the powerful one of the mentioned tools. In its system, it can help you to increase the number of occupants while maintaining the low-costs. The incredible thing about this tool doesn’t end there as it also offers the user various kinds of services.
Obviously, with those functionalities, to say that this tool is effective is quite understandable. On the bad side, however, this software is recommended for a large-scale property management company only.
If TenantCloud can handle more than 10 properties at the same time, this tool of Rentec Direct can only manage the maximum number of 10 properties for one account. This means that the tool is usually used by those smaller landlords to manage the smaller scale of properties.
In line with this, the simple navigation and features offered by Rentec Direct can be also recognized as basic features only. However, as this can be also considered as its limit, most people didn’t really complain a lot regarding of this tool. But still, it goes without saying, that this particular tool needs additional features to ease the user.
OPRM stands for Online Rental Property Manager. This kind of the best free property management software 2020 is developed by AppGini in order to ease people in managing their properties. As this tool is an open-source tool, basically, this tool is free for everyone and can be accessed through either pc, mobile or tablet.
This variety of platforms definitely becomes one of the pros in having OPRM as your property management software. However, on the bad side, the contra of having OPRM to help you is the fact that this tool is still lacking in the department of ‘purchasing’.
Close to the last tool, there is TrueRent that you can consider using as your property management tool. While there might be more than one interesting things about this tool, one of them is definitely the effectiveness of this tool in helping you to deal with those properties management things.
As most claims that this tool helps you to analyze the performance of your property and projects the future also. On the other side, or the contra of this tool is that the tool is only free only up to 50 unit of properties. An additional unit will cost you another buck per months.
RentTracker is other software specifically built for managers for the purpose of managing their properties; or to be more precise, for any rental purposes. As the company has been developing the tool from decades ago, it is just recently that their tool is also available for iPad and iPhone users.
One of the pros of using RentTracker is that the easy navigation of this tool gives you the best experience in using a property management tool. As for the contra, the contra mainly involves around the limitation of the service that you can enjoy until you pay a sum of money to upgrade your membership.
• Rent Manager
• Building Engines
• Yardi Voyager
• OnSite Property Manager
• MRI Residential Management
• SiteLink Web Edition
• Angus AnyWhere
• Greenhouse PM
• TOPS Professional
That is the list of the best free property management software 2020. Now, after you read this article through, you can carefully consider which software or tool that definitely suits you the most. This being said, if you are managing only small to medium scale amount of property, then it is recommended to only use the basic tools.
However, if you are managing dozens of property, then it might be the best if you directly use that one tool which supports a large scale management property.
For businesses to be successful it needs to be able to manage operational costs and that is one of the things that project management software help you with. There is no reason why use should not start using one of the ones we recommend.