6 Best Free Property Management Software 2018 – Real estate or property business is a high-risk but promising business which involves a huge amount of money. It is not only billions, but also trillions of dollars.
It also involves several vendors from every sector. Therefore, you need a good management for running this business. Don’t think about the complicated and in-the-box management. You can do all at once with the best free property management software 2018.
Before looking through and deciding which property management software fits for the business, it is better to know first the overview. Property management software is a solution for assisting property and real estate management business to monitor their business activities.
Table of Contents
- 1 The Best Free Property Management Software 2018
- 1.1 The Business Target and Users
- 1.2 The Best Property Management Software and the Details
- 1.3 Share this:
- 1.4 Related posts:
The Best Free Property Management Software 2018
They include managing and collecting rent payments, managing property maintenance payments, advertising the properties, getting new tenants and clients, and many more. It is amazing that single software can handle all of them.
Years ago, the property management software was developed on-premise. It is the link between the company’s servers and other computers. Technology improved, then the software come on cloud-based. But, who are the target and user for this software? Let’s dig deeper.
The Business Target and Users
The target business of the software
So, which part of business properties need to use this software? These might be the answers. First is commercial. It includes retail sites, office buildings, factory, etc. Second is student housing. It is for handling the apartments or houses for students outside the campus.
Third is residential that surely deals with the houses and apartment buildings. It also takes care of family unit properties. There is also hospitality. It has something to do with tourism support, such as resorts and hotels. Next, you can find HOA (Homeowners’ Association) which is usually for townhouses and condominiums which have this association.
Property management software mostly comes with general features. Some of them shares niche specific feature for specific industry. For instance, there is a guest check-in or check-out for hospitality software.
The users of property management software
Of course, the main user for this software is the real state and property companies. To see the real function, the users are differentiated into two. First is owner (landlord). There is a specific software design for property owner.
It consists of the daily operations for every property. The common software for company can track the payments, expenses, marketing, as well as the profits of property. Meanwhile, the software for owners usually comes with records of maintenance tasks and confirms the payment of rental on time.
Second is investor. The example of real estate investor is homeowner who rents more than one property. Surely he needs an automatic help which can manage the properties without tons of paper to check all the time.
Based on RRD survey, 85% managers of property firms apply property management software. It can be said that only less than 50 property firms do not use the software. So, what are the best free property management software in 2018 which you can choose?
The Best Property Management Software and the Details
It is founded in 1982 and first established with over 30 offices with 5,000 employees all over the world. It is a cloud-based property with an accounting platform that assists you to manage all portfolios of the real estate efficiently.
Yardi also designs and supports the real estate investment which includes the property market of a single family, senior military, and public housing. Also, it handles industrial, office, and market segments. That’s why it is known for its innovation, products, innovation, and customer oriented.
You will get some benefits. First is about monitoring the tenant payments. It is the system with a ready-made form which you can customize based on your preferences. The templates include statements of account and tenant ledgers. So, if your tenant needs to know the balance, the documents are ready to share. It is really the best free property management software 2018.
Second, you will get communicative functionality. Yardi supports all the aspects of property management and link them all together. Therefore, it will be easy for all departments to communicate with tenants anytime.
Next, there is detailed tracking for insurance policy. This software enables users to monitor the insurance policy for all of business stakeholder and real estate property. You can also get the automatic updates for ticker list for enabling system administrators with timely notices. This aims for showing the policy renewal pending deadlines.
This software was firstly built in 1987 with various support systems for property management. They include CRM, work order management, and accounting. It also integrates Volp phone, mobile application, open API, online portal, and electronic transaction.
The app also offers a wide range of features for mobile capability, web development, an optional module, and interesting hardware. Another satisfying thing is Rent Manager that’s easy to customize to meet your needs.
For Virtual Post Office, this feature enables users to send emails through this post office. You need no more papers. It saves money and time. Just compose your message on communication tool then send it to whomever you want.
The next feature is management of financial and commercial. You can calculate the recurring charge then distribute it to your properties. It is supported by commercial management, reporting features and schedule to fix your financial problems. In addition, to send messages effectively, Rent Manager offers a feature for recording your voice and broadcast the message to all contacts. You don’t need to call each of them just for sharing the information.
This one is new compared the two apps before. It is built in 2006 as the best free property management software 2018 which comes with SaaS property management for accounting and management.
The central system brings all the property management including online rent billing, marketing, customer screening, accounting, online leasing process, etc. It also has the simple and clean interface which streamlines all the workflows.
There are some advantages offered by AppFolio. First, you do not need hardware, servers or software for your management. There is no more installation and update periodically due to the cloud-based. You can also work from any device.
Furthermore, this app makes your work simpler as it is designed to set, manage, and switch to other features easily. Well, it also has long period support. AppFolio is a public company, so it will stand longer to serve many clients worldwide. It has a strong support from productive and creative leaders in the company.
This best free property management software 2018 is designed with the supports for property managers and their associations. More than 15,000 clients use this software from 46 countries worldwide. Well, here are the reasons.
First, it offers affordable 1099 eFiling. Usually, it spends $40 until $50 to have this eFiling. However, by using this software, you only pay $25 for one batch and $3 for one file to mail.
Next, it’s completed with integrated system. All of logins for tenants, management, and owners are on one page. Besides, you can notice lots of vacancies on the website with the documents and other disclosures you set there.
The target is a simple operation. It also has Happy Inspector link. The properties and information recorded in Buildium are automatically linked and synced to Happy Inspector. It is your partner, so you don’t need to set up twice. Just set inspection to periodically, quarterly, annually, or move in and out inspections.
It is an excellent customer support due to its continued support and updated features. This software provides the best management by managing the email statements, observing tenant note, tracking the purposes, monitoring move tenants in or out, or printing the daily bank slips.
For more detail supports, there is rent roll page. It is the page which allows you to review the properties all at once dealing with the unit or tenant, filter the content, and view one of your assets.
It also has auto-posting. This feature automatically calculates and issues the prorated rents for move-ins and move-outs, as well as posts the late fees and rents. It surely reduces your effort to manage your tenants. In addition, you get customizable template for email. You can set or choose the template for email, so you do not need a long time to give information to all tenants.
As its name, this software holds more than 2 billion square feet on North America with 20,000 portfolios. Located in Toronto, Canada, this company offers the awesome feature for the best free property management software 2018.
Well, it provides better communication tool that allows you to communicate openly with the tenants dealing with retention and service. The management can deliver messages timely for promotion or giving information.
There is also critical procedure for portfolio. The procedure needs to pass Corporate Tasking and Life Safety for reducing the risk, as well as the insurance costs. Moreover, the software gives strict access and visit card management. The card will be screened very carefully by capturing the visitor photos and badges, providing streamline registration, activating and deactivating the access cards.
Those are some options of the best free property management software 2018. Other recommendations include ResMan, Entrata, COndo Control Central, TenantCloud, MRI Residential Management, LiveTour and many more. As you know, the features are different, so pick the best for your company.