How to “Win” with IT in Commercial Real Estate: 14 Property Management Programs That Work

If you manage multiple properties, using a property management software helps streamline management, increase efficiency, and identify and resolve revenue leaks and losses. There’s no one-size-fits-all solution, but these 14 programs offer many options. Many are cloud-based and accessible from anywhere.

  1. Appfolio Property Manager

A cloud-based property management, it allows you to manage everything, view reports, and even create professional websites for each property. This SaaS application streamlines property management-related workflows and can assist in managing HOA, residential, commercial, and student housing properties. You can access business metrics, track maintenance records, and communicate with renters, owners, and vendors.

  1. Building Engines

This cloud-based software solution enables commercial office, retail, and industrial real estate property management teams to gather and analyze activities, data, and insights to make better-informed decisions that improve operational efficiency, mitigate risk, and deliver tenant satisfaction and engagement. More platforms and devices support the software’s mobile app, BE-Mobile — which allows you to work offline — than any other app on the market. The software also allows you to set sales and/or service delivery targets and track performance based on designated business benchmarks.

  1. Buildium

An easy-to-use, affordable cloud-based system, it facilitates communication between property managers and tenants and owners. Buildium also synchs with its partner, Happy Inspector, to enable easy scheduling of annual, periodic, quarterly, and move-in/move-out inspections. You can also market properties and find tenants online, accept online applications, and screen tenants before creating a contract.

  1. Condo Control Central

This condo/HOA management software streamlines and simplifies interactions among property managers, security personnel, condo board members, and residents. Its online portal digitizes payments, booking amenities, handling packages, parking permit requests, and more. Property managers can use push notifications to update everyone about add policy updates and announcements. The software even helps to automate package delivery and storage processes with digital logs that notify recipients instantly when packages arrive.

  1. MRI Residential Management

The fully scalable, automated processes include property-level management and accounting to investment modeling and analytics for the global commercial and residential markets. You can access real-time data to manage daily property accounting functions and facilities operation. Its features also include billing and invoicing, expense, insurance, maintenance, tax, and lease management, rent tracking, late fee calculator, and a landlord/tenant database.

  1. Planon Real Estate Management

This software solution — targeted for corporate real estate and facility managers — helps to streamline and increase efficiency of portfolio management, lease and financial management, space planning, transaction management, and project management. Its customizable dashboards allow you to measure KPIs. With information consolidated onto one platform, you get a comprehensive view of your entire real estate portfolio, which makes it easier to make strategic decisions for additional development.

  1. Propertyware

This cloud-based property management solution for low-density rental and single family units offers customized, hosted websites, online payment processing with debit/credit cards and eChecks, DocuSign-powered electronic signature, customer portals, inspection scheduling, and work order management. This “one stop shop” software allows you to manage all aspects of operations in real time. Propertyware saves time by automating and streamlining processes and is accessible by any device that connects to the internet.

  1. RealPage

This software integrates utility management, resident screening, online leasing, and applicant waitlists to increase efficiency. If you manage multiple properties, it offers an option to enforce company policies across an entire portfolio and simplify daily processes. It addresses needs of conventional, enterprise, institutional, HUD, student living, military housing, tax credit, senior living, single family, and vacation rental properties.

  1. Re-Leased

This software integrates with Google Calendar, Outlook, and Microsoft 365 and enables you to view and manage properties, collaborate or delegate tasks, and use email and text messages to communicate with tenants. It supports multiple properties within a portfolio, including residential, multi/mixed family, and student housing and commercial, co-working, and office spaces.

  1. Rentec Direct

Billed as a “complete management solution for professional property managers,” the software allows you to screen tenants, publish vacancies online, collect and manage automatic ACH payments, track payments/expenses/maintenance calls, and keep all data secure.

  1. Rent Manager Online

This property management, accounting, CRM, and work order management software suite combines online portal tools, a virtual post office, scheduling/reporting features, mobile apps, VoIP phone integration, enterprise accounting, open API and electronic payments into one system. Its range of mobile capabilities, operational modules, and hardware make it easily customizable.

  1. ResMan

This single platform solution includes “Essentials” — a core platform that has all the modules to manage conventional and affordable housing properties. You can personalize dashboards and easily access and manage document storage. ResMan’s multi-channel support facilitates team collaboration on different platforms, web browsers, and devices. It securely stores all records in the cloud to facilitate effective document management.

  1. TenantCloud

Landlords, tenants, and vendors can access and use this cloud-based all-in-one property management system. You can utilize it for accounting, work order management, online rental applications, and online rent collection. In addition to offering customizable income/expense reports, vacancy marketing in various listing websites, online communication, cloud storage, and account management, TenantCloud also offers a personal virtual assistant named EVA and has an iPhone/iPad app.

  1. 360Workplace for Commercial Real Estate

This suite offers construction project, space, facility maintenance, and lease administration management software. You’re able to track and monitor assets and inventory, vendor interactions, and construction goals/schedules, estimate expenses, and verify tax compliance.

Finding the Best Property Management Software for Your Needs

Whether you’re managing a small number of residential units or hold a portfolio of thousands of commercial units, property management software simplifies and streamlines and increases your efficiency. Keep the following considerations in mind when you’re looking for a solution.

  • How many (and what type) of units do you manage? Do you anticipate that the number will grow or shrink?
  • What features do you want or need? If you’re working specifically in one area — like commercial real estate — opt for a software solution specifically designed for that type of property management.
  • Can you test the software? Before you commit yourself to purchasing a solution, take advantage of free trials and demos. Test drive the essential functions you’ve determined you need. Make sure you’re comfortable with the interface and dashboard, too.

How’s the customer service? Be proactive in calling or emailing each company to determine their responsiveness and helpfulness. If you’re new to property management software, you’ll want to know that you can depend on the company’s customer support to answer your questions efficiently and accurately.

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