Best Real Estate Property Management Software of 2026

Here's what we'll cover:

What you need to know about property management software

What is property management software?

Essential features of property management software

Benefits and competitive advantages of using property management software

How to choose the best property management software for your business

Software related to property management systems

More resources for your property management journey

What you need to know about property management software

Property management software helps landlords and real estate professionals manage their rental properties from anywhere. Users only require internet access to leverage the tool for quick and efficient property management. 

We analyzed hundreds of conversations between our advisors and software buyers and found that about two-thirds of property managers still using traditional methods struggle with late rent payments, tenant communication, and lease renewal tracking. [1] Property management software automates these tasks through online rent collection, digital lease signing and tracking, in-app communication, and maintenance order processing. 

Our analysis of 3,335 verified reviews published in the past year shows that 92% of users find rent tracking the most valuable aspect of property management software, [2] while our tenant survey shows digital tools directly improve rental experience—48% of tenants report increased convenience and 33% note faster processes. [3]

When it comes to pricing for property management software, monthly plans start as low as $9 per month and exceed $375, depending on the number of properties listed, depth of features demanded, and integration capabilities. Our analysis of buyer conversations reveals that most (64%) allocate between $50 to $100 monthly for property management software. 

With over 270 software vendors listed on our site, you have plenty of options to choose from. For first-time buyers, we recommend starting your evaluation with a focus on budget, industry-specific use cases, and integration capabilities in mind. Some questions you can ask vendors include:

• What are the types of properties (such as residential, commercial, and student housing) the software supports?

• Can you show how the software handles rent collection and late payment tracking?

• How would the software help manage communication with tenants and maintenance requests raised by them? 

• How does it help migrate existing data to the new system?

This detailed guide will help you learn about the essential components of property management software, guide how to select the right solution, and tap into the expertise of our software advisors, Alex Ynfante and Emma Mayes, who have been leading buyers to the right software for many years. Reach out to schedule a consultation with them or any of our advisors.

What is property management software?

Property management software, also known as property management software, automates back-office, financial, and operational functions for various types of rental properties, including residential, commercial, storage facilities, and mobile home parks. These systems help property managers track tenant information, manage leasing agreements, collect rent, handle maintenance requests, and generate financial reports online.

Our advisors’ analysis of 3,439 direct conversations with property management buyers reveals a common misconception: many believe all property management systems are pretty much the same. But as our advisor from Software Advice, Alex Ynfante, points out, different property types demand different software capabilities. 

“When I talk to commercial real estate managers, I always suggest they prioritize systems with advanced financial reporting. Given the high stakes and complex nature of commercial leases, precise reporting of income and expenses becomes crucial for them,” he explains. On the flip side, “self-storage facility managers need something that lets them handle everything remotely without constantly tracking tenants. I often ask them to focus on features like automatic late fees calculation, unit inventory management, and online control of who accesses the facility.”

Essential features of property management software

All dedicated property management software offer financial management, maintenance management, and property database as core features, and most share a variety of common features such as payment processing and lease tracking. 

Our analysis of user feedback reveals which functionalities matter most:

Core property management software features

Common property management software features worth noting

Beyond these features, property management systems offer several additional tools, such as communication channels, inspection scheduling, late fee calculators, and tenant screening. These supplementary functions help create a comprehensive property management solution. 

Examples of some property management features in action

Tenant portal: Consider it a digital front desk that's always open for your renters. As shown in the example below, tenants can handle everything online instead of calling you or dropping by in person—from scheduling automatic rent payments to checking their lease details and payment history.

Example of tenant portal in property management software SimplifyEm

Financial management: This is your financial command center, giving you a bird's-eye view of your property's financial health. As shown in the example below, you can check your net income, see who's paid rent recently, and spot any overdue payments. You can get more granular financial analysis by navigating to reports on the left sidebar menu.

Example of a dashboard showing profit and loss in property management software DoorLoop

Maintenance management: This is like a central hub for scheduling and tracking all maintenance tasks. The calendar interface below shows you exactly what needs fixing and when with color-coded tasks helping you spot urgent repairs at a glance. You can also filter maintenance tasks by property or staff member, ensuring nothing falls through the cracks.

Example of maintenance calendar interface in property management software SimplifyEm

Lease management: This helps you develop a digital leasing system, centralizing everything from customizable lease templates to tenant screening. The example shows how easily you can review applicant credentials—from credit scores to rental history—and get lease agreements signed without printing a single page.

Example of lease management tools in property management software AppFolio Property Manager

Benefits and competitive advantages of using property management software

Ynfante has been helping property managers find software to manage rentals for multiple years. Based on his conversations with buyers, the two biggest benefits of adopting a property management system across all property types are systemized workflows and improved rent collection. He observes, "A lot of these buyers are transitioning from manual methods and are struggling with paperwork, missed rent payments, and communication gaps.” Purchasing property management systems help them organize everything in one place and automate key processes.

Our data shows key benefits users tell us most often about:

• Anywhere, anytime management: With an online tenant portal, renters get a self-service option to pay rent any time of day, view lease documents, and check the status of their maintenance requests, which adds convenience for them, and makes administration easier for landlords. The system also opens a line of communication amongst tenants, property managers, and maintenance staff, so everyone can be quickly notified about important announcements.

• Financial clarity at a glance: Property management software helps users easily gather financial, tenant, or marketing data to identify trends that could be harming their business or opportunities to make improvements. They can generate various reports in just a few clicks, eliminating all-night number crunching in spreadsheets.

• Effortless portfolio growth: Property management software creates replicable processes that help users manage multiple properties as easily as they manage one. As your portfolio grows from 5 to 50 units, your workload doesn't grow proportionally. By automating routine tasks, you can spend more time marketing properties, getting good applicants, and making better investments. 

• High-quality tenant selection: Property management systems help users find the most promising applicants through background checks and credit reports, reducing the risk of problematic tenancies and increasing the likelihood of long-term, stable rentals.

How to choose the best property management software for your business

Step 1: Define your requirements

Before selecting a property management system, it’s important to clearly outline your property-specific needs. This step will guide you toward a system that aligns with your operational demands.

Consider what type of buyer you are

Different types of properties need different tools, and you don't want to pay for features you'll never use.

• Small apartment complexes or single-family homes: Their focus is likely on the basics—collecting rent and managing leases efficiently. Look for software that makes it easy to track payments and store lease documents in one place.

• Multiple complexes and homeowner associations (HOA): When property owners have several buildings or apartments to manage, they need strong communication tools. Their priority feature would include an online tenant portal for taking maintenance requests, facilitating communication, and automating rent collection. HOAs may look for features to manage association bylaws and meeting minutes.

• Commercial real estate buyers: Those who manage several properties in commercial space will need robust reporting tools, among other things, to monitor performance, lower expenses, and make better investment decisions. 

• Vacation rental property owners: Short-term and vacation rentals need tools for online booking management, automated listings on short-term rental platforms, and functionalities to coordinate with guests. 

• Self-storage facility managers: Besides common property management capabilities, these buyers typically need specialized features like unit inventory management and gate access control. Online reservation tools can also make renting a storage facility easier for potential tenants. 

• Student housing operators: These property managers have unique needs, which include coordination with academic calendar coordination, roommate matching, management of shared spaces, and tools to coordinate with both students and overseas guarantors. If a facility takes international students, they’ll also need communication tools that work across languages and time zones and payment processing that work internationally.

• Mixed portfolio: For those managing mixed portfolios, say both commercial and residential, will need systems that can handle different types of lease and payment schedules, and provide customized reporting options for the distinct property types.

Think about your daily operations. What tasks take up most of your time? What problems do you need to solve? List out your must-have features to build your requirements.

How much should you spend on property management software?

Many property managers, especially those with small unit counts, worry that property management software will exceed their budget. However, our advisor, Ynfante, says, “There are affordable options available for every portfolio size.” 

Our analysis of over 3,300 buyer interactions shows most property managers (64%) budget between $50-$100 monthly for their software.

Vendors typically charge per unit per month for these systems. Entry-level plans can start as low as $9 per month, while advanced plans can go up to $375 or more monthly. The final cost will mainly depend on:

• How many units you manage

• What all features you need

• What integrations you are looking for

Keep in mind that many software providers have minimum monthly costs regardless of portfolio size. You'll also want to consider additional costs that are not included in the label price like:

• Price for add-on modules not included in the basic plan 

• Implementation services or fees to help set up the software 

• Training fees to help your team (and tenants) learn the system 

Our advisor, Ynfante, often sees buyers focus too much on finding the lowest price. "Many gravitate toward the cheapest solution, only to realize later they need more comprehensive features," he notes. He advises buyers to focus first on finding software that matches their operational needs and then compare prices within that category.

Also, remember to factor in your complete tech needs as you plan and budget your property management software purchase. You may need a separate system to market vacancies (if your chosen system lacks this functionality) or specialized maintenance tracking (especially for commercial properties).

Plan around integration options

Another important consideration when selecting property management software is how it will work with your existing tools and processes. 

What accounting software do you rely on? How do you market your properties? What about payment systems? Make a list of all these tools you’re using right now, and determine which are non-negotiable. 

Our data shows that 91% of property managers want all-in-one functionality software. They are looking to simplify their tech stack and reduce costs by choosing comprehensive systems that can handle most if not all, tasks without needing additional software. 

Modern property management systems often offer comprehensive features for property management, from leasing, communication, and marketing to rent collection. Our advisor, Emma Mayes, says, "The key is determining whether these built-in features are robust enough for your needs, or if you'll still need some other specialized tools."

Before you make your choice, ask yourself:

• Which of your current tools are must-keeps?

• Could a comprehensive system replace some of your existing software?

• Will the system connect easily with your must-keeps?

Step 2: Make a shortlist of property management software

With so many property management software options to choose from, narrowing the right choices for your business can be challenging—but with the right resources and support, it doesn’t have to be.

Get qualified help from an advisor

At Software Advice, our advisors like Ynfante and Mayes have experience helping hundreds of landlords and real estate managers identify solutions that match their needs and budgets. Mayes says,

"We help property managers condense weeks of research into 15-minutes, offering five personalized recommendations that check all your boxes, based on a portfolio scale, budget, and functionality needs.”

If you need guidance, you can chat online now with an advisor or schedule a phone call. In just a few minutes, our advisor will help you build a shortlist that aligns with your property requirements.

Explore our FrontRunners list of property management

If you’re not ready to talk to an advisor just yet, you can also start compiling your shortlist of real estate property management software with our FrontRunners report. Only products that earn top user ratings make it to this list. To be eligible for consideration, a product must:

• Have at least 20 unique user reviews in the last 24 months

• Be a stand-alone property management system, not just a partial tool

• Offer key features like 

  • online rent collection, 

  • lease management, and 

  • maintenance request management.

Check out our full methodology description for more details on how the report is compiled.

Step 3: Pick your best option

Once you've got a shortlist, it's time for vendor demos. This is your chance to thoroughly evaluate each system before making a decision. We recommend setting up multiple demos with each vendor.

Focus on daily operations in the first demo. Have your property management team attend this demo and focus on testing common workflows, evaluating ease of use, and reviewing key features you identified as must-haves. 

Bring your technical team in the mix in the second demo. They can discuss integration requirements, review security measures, and help  you better understand the technical support options available from vendors. 

Some questions you could ask during demos:

What parts of the software do users most frequently report problems with?

Which features typically take the most time to master for users?

What are some upfront costs, beyond label price, for the software?

Do you provide ongoing training and customer support? 

How can we customize the system for our specific workflows?

What security measures are in place to protect tenant data?

How does the software handle state-specific lease requirements?

Software related to property management systems

Each of these specialized tools can either complement or replace property management software, depending on your needs:

• Vacation rental software: Focuses on short-term rentals with features for booking management, dynamic pricing, and integration with travel platforms.

• Lease management software: Specializes in lease administration, digital signing, and tenant screening for businesses focused primarily on leasing.

• Facility management software: Handles complex building maintenance, space planning, and asset management, particularly useful for commercial properties.

• Maintenance management software: Offers advanced work order tracking, preventive maintenance scheduling, and inventory management beyond basic property management features.

• Real estate CRM software: Focuses on lead management, prospect tracking, and marketing automation for property sales and leasing teams.

• Commercial property management software: Specialized for office, retail, and industrial properties with emphasis on CAM charges, tenant improvements, and advanced financial reporting.

• Marketing automation: Helps manage property listings across multiple platforms, automate email campaigns, and track leads through social media and listing websites for faster vacancy filling.

More resources for your property management journey

Here is some further reading about property management software that you should check out:

• Buyers Switch to Property Management Software for Greater Efficiency, Functionality, and New Business Opportunities

• 5 Key Property Management Software Features and Top Products That Offer Them

• 7 Top-Rated Affordable Property Management Software

• 4 Top-Rated Free Real Estate Property Management Software

About our contributors

Author

Amita Jain is a senior writer for Software Advice, covering finance technology with a focus on expense management and accounting solutions for small-to-midsize businesses. After completing her master’s in policy studies from King’s College London, she began her career as a journalist in New Delhi, India, where she garnered first-hand knowledge of the startup space and the education sector. She spent nearly half a decade covering high-level events hosted by the United Nations and the Government of India. Her work has been featured in Careers360, among other publications.

Amita’s research and writing for Software Advice is informed by more than 130,000 authentic user reviews and over 30,000 interactions between Software Advice software advisors and software buyers. Amita also regularly speaks to leaders in the finance and accounting space so she can provide the most up-to-date and helpful information to small and midsize businesses purchasing software or services.

When she’s not contemplating tech solutions for SMBs, Amita finds her zen in swimming, doodling, and indulging in animated sitcoms and science fiction.

Editor

Parul Sharma is a content editor at Software Advice with expertise in curating content for various niches, including SaaS, digital marketing, and search engine optimization. With over half a decade of experience in content writing and editing, Parul has the expertise to simplify complex terms into engaging, valuable content for targeted audiences. She completed her graduation and post-graduation in English literature from Delhi University and was awarded the Dr. Asha Sahni Memorial Award for being the highest scorer in her graduating class. 

Parul has contributed to the news, lifestyle, education, and health verticle of DNA India, India’s premier media channel. Outside of work, she can be found curating healthy recipes, coloring in mandala books, and spending quality time with her family.

Advisors

Emma Mayes is an advisor manager. She joined Software Advice in 2022, and now she manages a team of nine software advisors. She is based in Fort Myers, FL.

Emma and her team help small businesses find the right construction, field service, retail, property management, and marketing software for their needs each year. They’re able to do this through one-to-one conversations designed to narrow down the list of potential tools to only those that are the best fit. 

Emma’s favorite part of being a Software Advice advisor team manager is knowing how her team’s conversations with buyers accelerate their software endeavours and add resources they may never have found without our services.

Alex Ynfante is a software advisor. He joined Software Advice in 2022, and he is based in Austin, TX.

Alex works directly with small businesses leaders to connect them with best fit software providers. He assesses the technology needs of small businesses seeking CRM and property management software through one-to-one conversations and provides a short list of potential matches. His favorite part of being a software advisor is navigating the tough software landscape with buyers and providing them genuinely valuable insights.

With a background in the sales and service industries, Alex holds a bachelor’s degree in Communications and is currently pursuing a business degree.

Sources

1. Software Advice advisor call notes: Findings are based on data from telephonic conversations that Software Advice’s advisor team had with small-to-midsize businesses seeking property management tools. For this report, we analyzed phone interactions from October 18, 2023 to October 18, 2024. 

2. Software Advice reviews data: Reviews are collected from verified users for individual software products. For this report, we analyzed reviews from October 18, 2023 to October 18, 2024. 

3. Software Advice's 2024 Tenant Experience Survey was conducted in June 2024 among 4,800 respondents in the U.S. (n=400), Canada (n=400), India (n=400), Brazil (n=400), Mexico (n=400), the U.K. (n=400), France (n=400), Italy (n=400), Germany (n=400), Spain (n=400), Australia (n=400), and Japan (n=400). The goal of the study was to identify the pain points tenants face and explore software solutions property managers can use to address them. Respondents were screened to currently rent their primary residence.