# What Is Property Management Software? | Capterra > Insights from 450+ property management software options, Capterra advisors, and fellow users help understand what business problems this software solves and how to select the right one. Source: https://www.capterra.com/resources/what-is-property-management-software --- Tech StackReal Estate # What Is Property Management Software? Insights on Digitalizing Rental Operations Written by: Amita Jain Amita JainAuthor Senior Writer Experience I've been writing for Capterra since August 2021, with the goal of becoming a trusted voice in the finance technology market. I have... [See bio & all articles](https://www.capterra.com/resources/author/ajain/) and edited by: Rina Rai Rina RaiEditor Rina is a senior editor at Capterra. She has close to a decade of experience creating and editing content, especially for the IT, software, and finance domai... [See bio & all articles](https://www.capterra.com/resources/author/rina-rai/) Published July 18, 2024 8 min read Table of Contents - [What is property management software?](#what-is-property-management-software) - [Types of property management software](#types-of-property-management-software) - [Key features of property management software](#key-features-of-property-management-software) - [Benefits of property management software](#benefits-of-property-management-software) - [Considerations when looking for property management software](#considerations-when-looking-for-property-management-software) - [Ready to start your property management software search?](#ready-to-start-your-property-management-software-search) ## Insights from property management software users, Capterra advisors, and 450+ systems in our database show what you need to know. If you’re searching for property management software, you likely run a rental business with a few units and have realized that collecting rent in person or using spreadsheets to track due dates isn’t the most efficient way to manage operations or expenses. Property management software automates these tasks, making rental operations highly efficient. However, to invest in the right product, you must thoroughly understand the technology’s potential and limitations. This article covers the basics of property management software to provide a solid understanding of the technology and what it entails. To give a first-hand account, we’ve included insights from Jimmy Harris, a property manager in West Georgia who switched from a generic accounting tool to property management software.[\[1\]](#sources) ## What is property management software? [Property management software](https://www.capterra.com/rental-property-management-software/) helps property owners or rental businesses manage commercial, residential, and industrial properties by centralizing rental operations, including rent collection, maintenance request processing, tenant screening, and document management. The software provides separate interfaces for property managers and tenants. It allows property managers to communicate with tenants through chat, email, or text messages, share updates on the maintenance tickets they raise, and receive automatic reminders for lease renewals nearing their due date. For tenants, it acts like an online portal to pay rent, raise service requests, and access and submit documents. _Dashboard of property management platform_ [_DoorLoop_](https://www.capterra.com/p/211768/DoorLoop/) Property management solutions, like the one shown above, typically provide rent tracking, accounting, and maintenance management capabilities. They also offer insights into metrics such as maintenance costs, cash flow, and late payments. By taking the pressure off managing day-to-day operations, these systems give property managers more control over their finances. ### Who uses property management software? Landlords and property managers at residential properties, apartments, single-family homes, multifamily units, and homeowner associations typically use the software to communicate with tenants and run property operations. The chart below highlights the top real estate segments that property management software buyers who contact our advisors come from.[\*](#methodology) ## Types of property management software Capterra lists over [450 products](https://www.capterra.com/rental-property-management-software/) in the property management software category. With so many options available, it’s crucial to understand what different types of software offer. Based on your needs or the property you manage, you’ll typically find four types of property management software: - **Short-term rentals:** This software type is used to manage bookings for short stays, such as [vacation rentals](https://www.capterra.com/vacation-rental-software/). It lets you list your property on platforms such as Airbnb and manage property calendars to prevent double bookings. - **Long-term rentals:** Also known as [rental property management software](https://www.capterra.com/rental-property-management-software/), these systems help manage properties rented out for a year or more. Tenant relationships, lease agreements, and rent payments are the main aspects they handle, but they may also track property income and expenses for accounting.  - **Real estate property management**: This software manages both rental and for-sale properties. It supports front-office and back-office operations for large portfolios, including listing units on websites and overseeing maintenance. These solutions tend to be pricier. - **Niche property management applications**: These specialized tools focus on specific sectors or functions, such as [building maintenance](https://www.capterra.com/building-maintenance-software/), [lease management](https://www.capterra.com/lease-management-software/), [commercial property management](https://www.capterra.com/commercial-property-management-software/), and [hospitality property management](https://www.capterra.com/hospitality-property-management-software/). For instance, if a rental property manager wants to handle income and expenses without lease management, a [property management accounting tool](https://www.capterra.com/property-management-accounting-software/) with billing, invoicing, and reconciliation features will probably be a better fit. **Want to know which property management solutions are apt for your growth stage and sector?**  Our software advisors can steer you toward the right solution. [Schedule a free call](https://www.capterra.com/#:~:text=side%2Dby%2Dside%20%E2%9E%94-,1%2Don%2D1%20Advice,-Save%20time%2C%20feel) with an advisor today to get five personalized software recommendations for your needs. ## Key features of property management software All property management software solutions offer three basic functions: maintaining a database of properties, keeping records of income and expenses, and managing maintenance tasks. Rent tracking, tenant portal, and online payments are other commonly offered features. We asked software reviewers on Capterra to identify features they consider critical or highly important in property management software. The table below lists the top three features verified software reviewers selected:[\*\*](#methodology) Feature Description % of reviewers who rate it as critical or highly important Rent tracking Tracks previous and upcoming payments and ensures regularity in monthly rent collection from tenants 91% Online payments Accepts and processes payment transactions through a digital platform 87% Property database Creates and maintains a centralized database to track property details, including lease, tenant, and property owner information 83% For Harris, however, maintenance request management is one of his favorite features. “In addition to tenants easily contacting you about an issue, you can track if a property is having the same problem repeatedly, such as an AC unit needing constant repairs, indicating it’s time to replace that unit,” explains Harris. “This is one tracking ability you don’t grasp well when doing stuff manually or using common accounting tools.” _Maintenance request view in property management platform_ [_Yardi Breeze_](https://www.capterra.com/p/164741/Yardi-Breeze/) ## Benefits of property management software The ability to automate rental payments is the benefit Harris appreciates the most. He especially likes the hands-off approach in sending rent reminders and tracking due payments. Automated rent collection prevents challenges related to lost or bounced cheques and recording a tenant’s payment to the wrong month. “Property management software can check if people are paying and automatically send reminders every day they are past due,” explains Harris. “When a tenant misses or delays payments, the system can automatically charge late fees and even escalate it over time.” Here are a few more benefits, along with excerpts from property management software reviews on Capterra. Benefit Description Review excerpt Centralized tenant management From initial contact to lease termination, property management systems provide a centralized system to handle everything in one place, enhancing operational efficiency and minimizing administrative clutter. _“The constant forward thinking helps me keep all the unnecessary software plug-ins to a minimum. As a small business owner, having a "one stop shop" greatly improves the efficiency within our organization.”_ **\- Christopher P., CEO and managing director, real estate** Organized property records Property management tools maintain a complete database of property details, lease renewal information, and tenant records, reducing legal risks. _“It houses all the information you need for each individual unit and gives a clear visibility of all properties from a single point.”_ **\- Mary M., portfolio manager, real estate** Monitoring with customizable dashboards Property management software lets users customize their dashboards to showcase important tasks and metrics, saving time and effort in daily task management. _“I can tailor it to display the information and tasks that are most relevant to my specific needs, making it highly efficient for my day-to-day work.”_ **\- Marty G., licensed real estate advisor, real estate** ## Considerations when looking for property management software When evaluating property management software options, keep the following considerations in mind to ensure you select a system that best fits your tenant management processes. ### 1\. Budget Most property management software platforms charge a monthly fee, with entry-level plans usually ranging from $1 to $52[\*\*\*](#methodology) based on the number of units you want to manage. However, some systems charge a minimum monthly fee—often around $100—regardless of the number of properties. More advanced plans usually cost upward of $479 per month and offer more advanced functionality, such as a higher number of listings and advanced automation and integration. Emma Mayes,[\[2\]](#sources) a software advisor at Capterra who helps small and midsize businesses (SMBs) find the right tech solutions, suggests being mindful of additional charges that may hike the overall cost of owning the software. Most (64%) of the property management software buyers Capterra advisors spoke to over the last 12 months budget between $50 to $100 per month for software purchase.[\*](#methodology) Pro tip Consider the long-term benefits of investing in a slightly more expensive system. Mayes suggests, “Spending a bit more on a good system can pay off over time by making your property management more hands-off and improving tenant satisfaction.” ### 2\. Integrations Most property management software tools come with built-in integrations that make managing workflows—from receiving online rent payments to accounting—seamless. Our advisor calls data suggests that 91% of software buyers seek property management software suites with all-in-one functionality. Harris’s experience highlights the benefits of such integrations. He switched from his usual accounting tool to a property management system with an integrated accounting module. “Since it’s built for rental management, it records tenant payments automatically under the right tenant account without me adding notes. This has made reconciliations quicker, and I now spend less than an hour a week on accounting.” If you have under 50 units, Mayes says you likely won’t need anything outside one property management system. That said, if you have special needs—for instance, advanced property maintenance—you can ask vendors to add on those modules. Keep in mind, however, that these integrations will cost you money. Pro tip Mention all the essential modules you need—say, accounting, online payment, maintenance management, and tenant communication—in your first vendor conversation itself. This approach will help you set the right expectations from the outset and [avoid regret](https://www.capterra.com/resources/tech-trends-purchase-regret-by-business-size/) later. ### 3\. Deployment Considering the property management system will be accessed by various users—including you, your tenants, and maintenance staff—online or cloud-based deployment is more suitable. You should also consider ease of use to accommodate users with varying levels of technical proficiency. A mobile app can further enhance communication and streamline rental payments from your tenants. As Harris points out, “Having a mobile app made it incredibly easy for my tenants to shift to this system for paying rent and submitting service requests, which improved overall satisfaction.” Pro tip Attend multiple demos with vendors to explore software features and understand how to use them. After narrowing down your options, take [free trials](https://www.capterra.com/rental-property-management-software/?pricing_options=FREE_TRIAL) to assess the user interface and its intuitiveness. Don’t purchase a system until you’ve tested it for ease of use and received feedback from people who will use the software for their everyday tasks (your employees, for example). ## Ready to start your property management software search? Finding the right software isn’t a one-size-fits-all recipe. Talk to our advisors to get five software recommendations tailored to your business needs. A 10-minute conversation can save you weeks of effort. Begin your search with systems that check all your boxes. [Schedule your free software consultation](https://www.capterra.com/#:~:text=side%2Dby%2Dside%20%E2%9E%94-,1%2Don%2D1%20Advice,-Save%20time%2C%20feel) with a Capterra advisor today. _If you’re not ready for a consultation yet, check out_ [_Capterra Shortlist for property management software_](https://www.capterra.com/rental-property-management-software/shortlist/)_, which identifies the top property management systems based on user ratings and popularity. Compare different products to see how they stack up against each other._ ## Capterra's 2026 Software Buying Trends Report ### Download our 2026 Software Buying Trends Report to see how successful software adopters avoid disappointment and how your business can, too. * * * **Methodology** \*Findings are based on data from telephonic conversations that Capterra’s advisor team has with small-to-midsize businesses seeking property management tools. For this report, we analyzed phone interactions from June 13, 2023, to June 13, 2024. The findings represent buyers who contacted Capterra and may not be indicative of the market as a whole. \*\*We collect reviews from verified users for individual software products. For this report, we analyzed reviews data from Feb. 28, 2023, to Feb. 29, 2024. Additionally, for each software category, we ask reviewers to rate—on a scale of “low importance” to “critical”—how important different features are for that software. Review excerpts are passages extracted from longer reviews written by verified reviewers. We obtain these excerpts by applying an algorithm that considers factors including, but not limited to, word count and topic coverage. Excerpts are not edited for clarity or grammar. \*\*\*Only products with publicly available pricing information and qualified software products within the category, as of June 6, 2023, are included in the pricing analysis. We summarize publicly available pricing sources, including vendor websites, beginning with the lowest monthly pricing (not considering annual discounts) for packages that include the core functionality for the software category. We also list pricing for more advanced packages (per user, when available) that include the core software feature(s). Individual software buyers’ specific feature needs may differ, and final pricing will vary. **Note**: Questions and responses have been edited for brevity and clarity. **Note**: The screenshots of applications included in this article are examples to show a feature in context and are not intended as endorsements or recommendations. Sources 1. [Jimmy Harris](https://www.linkedin.com/in/jimmy-harris-b689a1217/), LinkedIn 2. [Emma Mayes](https://www.linkedin.com/in/emma-mayes-a81b60186/), LinkedIn * * * Looking for Property Management software?Check out Capterra's list of the [best Property Management software](https://www.capterra.com/rental-property-management-software/) solutions. ### Was this article helpful? * * * ## About the Authors [### Amita Jain](https://www.capterra.com/resources/author/ajain/) Amita Jain is a senior writer for Capterra, covering finance technology with a focus on expense management and accounting solutions for small and midsize businesses. Her work has been featured in Careers360, among other publications. [### Rina Rai](https://www.capterra.com/resources/author/rina-rai/) Rina is a senior editor at Capterra. She has close to a decade of experience creating and editing content, especially for the IT, software, and finance domains. Passionate about minimalist storytelling, she prioritizes breaking down complex industry jargon into engaging stories accessible to all readers. Rina holds a postgraduate degree in mass communication and journalism and a bachelor's degree in English literature. 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