The seven best rental property management software of 2021

There’s a reason why rental property management software solutions are in such high demand. Simply put, 72% of property managers report that their biggest challenge is trying to do too many things at once. One of the best ways to streamline workflows and improve efficiency is investing in technology that’s built to lighten the load. The right rental property management software will help you make renters happier, accelerate key processes, and boost those ORA™ scores. The trick is to find the one that’s right for you. 

We’ve saved you some time by narrowing down the top 7 rental property management software solutions of 2021, in no particular order. These solutions meet the most important standards for speed, convenience, and ease-of-use in today’s fast-paced property management landscape. 

The seven best property management software of 2021

Yardi Voyager

Most property managers have heard of Yardi. So, does this popular solution live up to its hype? We're pleased to report that it does. Their end-to-end Voyager platform combines financial and property management information to create one centralized database for easier leasing execution and resident services management. This cloud-based rental property management software is built to accommodate over 1,000 users, making it ideal for larger residential and commercial property portfolios. 

Yardi Voyager isn’t short on capabilities; the full list includes billing and invoicing, contact management, reporting and analytics, document management, portfolio management, tenant tracking, and website management. It also sports automated workflows that streamline check writing, approving work orders, managing purchase orders, and processing move-ins/outs. 

There are a few key areas where Yardi Voyager truly shines. 

Standout features include:

• Complete, full-service accounting: This includes the ability to manage multiple sets of books, financial entity setup, account trees, general ledger allocation, recurring journal entries, and segmented and intercompany accounting.

• Clear, comprehensive user interface: This includes having one single view of all key dashboards, a Google-style search functionality, along with ways to tag and store favorites, histories, and shortcuts.

• Fast, convenient reporting: This includes the ability to run quick reports, accounts receivable reports, rent roll, tenant reports, and more, that are easy to view, analyze, and update quickly (caveat: custom reports will require developer assistance).

• Mobile access: This includes the ability to view, manage, and complete tasks directly from a smartphone or tablet.

• Key integrations: Yardi Voyager integrates with Rhino, IMS,  IT49, and more.

For pricing information, contact Yardi Voyager today.

RealPage

Another cloud-based rental property management software that’s worth your attention is RealPage. This comprehensive management suite is designed to keep small, medium, and large businesses organized, focused, and efficient. RealPage is a true all-in-one solution — it comes with a built-in, feature-rich accounting system and resident portal for simpler, more streamlined workflows. And if you’re not particularly tech-savvy, RealPage’s minimalist user experience makes learning and navigating the platform feel like a walk in the park.

RealPage offers a robust feature set for better accounting, budgeting, facilities management, purchasing, document management, and reporting. With a resident portal that includes real-time notifications, RealPage is a great option for keeping up with renter requests for maintenance, renewal information, rentable item reservations, and amenities. The platform also provides a vendor tracking and credentialing tool to reduce risk and liability costs and guarantee great service. Did we mention that it also integrates with Rhino?

Standout features include:

• In-depth, custom reporting: This includes the ability to create a customized dashboard for all of your key metrics, along with cash flow tracking, spending trend analysis, budget evaluation, and a financial report writer that allows you to create and modify custom reports.

• Intuitive, user-friendly navigation: Teams love how fast and easy it is to learn the platform, train new users, access, search, and retrieve documents, and see insights and metrics you need at a glance.

• Reliable, enterprise-grade compliance services: This includes the ability to ensure that your processes are compliant with government regulations, verify move-in certifications, assess applications being submitted by potential residents, as well as review move-in processes.

• Simplified back office accounting: This includes the ability to sign documents electronically, centralize disbursements, perform cash or accrual-based accounting, and conduct bank reconciliations.

• Key integrations: Yardi Voyager integrates with Rhino, Notifii Connect, Rentsync, Rent Payment, and more.

For pricing information, contact RealPage today.

Rent Manager

We couldn’t write a list of top rental property management systems and not include Rent Manager. This trusted provider was established over 30 years ago, which gives it a long track record for helping businesses of all sizes manage and execute leasing, marketing, resident services, accounting, maintenance, and more. 

By making it easier to manage tenant communication, streamline common workflows, and confidently manage finances, Rent Manager is a comprehensive product suite for many top-of-mind priorities. This rental property management software platform also has an app for users to view, manage, and complete tasks directly from a smartphone or tablet, making it perfect for busy managers. 

Standout features include:

• Open API portal and dozens of integrations: This includes the ability to connect other property tech products and services (including Rhino) to create an all-in-one environment that’s tailored for your business.

• Access to over 450 built-in reports: This includes predefined reports that focus on operations, portfolio evaluation, service issues, leasing, rent roll, and more, in addition to their Report Writer and Financial Report Writer tools that allow users to create statements that are more custom to their needs.

• Convenient leasing services: This includes one comprehensive portal for application services, e-signing services, leasing and renewal-related services, resident screening, and background checks.

• Comprehensive accounting: This includes the ability to run accounts payable and accounts receivable, advance rent collection by processing payments electronically, budget, report on finances, manage loans, and manage utility billing.

• Key integrations: Rent Manager integrates with Rhino, LeaseHawk, BeanworksAP, Breezeway, and more.

Pricing for this solution varies; view the Rent Manager Pricing page for more information. 

Rentec Direct 

Rentec Direct is a web-based rental property management software that’s perfect for teams that manage between 10 and 5,000 units. This platform ranks high in customer satisfaction, giving managers exactly what they need to manage records in a simple and accurate way. There are no startup fees or term commitments. 

As far as functionality is concerned, Rentec Direct covers all major property management needs with ease. This software allows you to digitize rent collection, publish vacant units, track maintenance requests, and easily process online applications. Teams who use Rentec Direct also have access to free, unlimited customer support through phone, live chat, and email, and comprehensive onboarding and training. This solution also has a firm focus on data security, and ensures two-factor authentication and other measures to protect your user data. 

Standout features include:

• Fast time-to-value: Teams love that this platform is easy to use, easy to learn, and can begin to execute on property-related tasks within minutes of first use.

• Full-service accounting: This includes having access to a complete general ledger accounting functionality that helps teams track income and expenses, along with complete bank, property, and resident accounting services.

• Custom websites: This includes getting a professional website that allows teams to publish vacancies and market properties with pictures, property details, and prices, and access to lead sourcing and lead management.

• Advanced applicant screening features: This includes the ability to order applicant screenings and receive credit, criminal, and eviction history reports that help reduce risk.

• Key integrations: Rentec Direct integrates with DocuSign and QuickBooks.

Pricing for this solution varies; view the Rentec Direct Pricing page for more information.

Entrata

Entrata is the only rental property management software with a single-login, open-access Platform as a Service (PaaS) system. This means that Entrata was designed to be easily updated to reflect new user needs, giving the company the freedom to release regular software updates for existing customers. This solution also has an open API and several integrations with popular solutions (including with Rhino), creating smarter, more personalized workflows. And having just raised over $500M in funding, the company’s future looks bright. 

Entrata is a great property management software for small landlords. This is because it works hard to consolidate functions for premier ease-of-use, but this ultimately affects its ability to scale its computing power. However, as the chosen rental property management software for over 20,000 apartment communities nationwide, teams who use this platform see measurable improvements in organization and time management. 

Standout features include:

• Access to invoice processing service: Teams love having the ability to save time and resources by sending Entrata’s Fulfillment team all their invoices for review, processing, and entering into the system.

• Secure, reliable financial services: This includes access to budgeting tools, balance sheet and income statement services, payment processing, tax management, late fee calculation, accounting, and more.

• Streamlined resident and maintenance management: This includes the ability to verify applicant information to streamline move-ins and a service portal that allows you to manage and organize maintenance requests from residents.

• Simple, easy-to-navigate user interface: This includes the ability to easily and quickly access, search, and retrieve documents, and see the insights and metrics you need at a glance.

• Key integrations: Entrata integrates with Rhino, Google Analytics, Notifii Connect, Domo, RealPage, NexusPayables, and more.

View information about pricing for Entrata here. 

MRI

MRI is a cloud-based rental property management software built to meet the diverse requirements of property owners, operators, investors, managers, and renters. MRI’s robust offering spans from property-level management and accounting, to investment modeling and analytics for large, global commercial and residential markets. This solution also provides an online SaaS platform of solutions for greater flexibility in the execution of common property-related tasks. 

By nature, it may be harder to learn and navigate than others on this list, but it’s a comprehensive solution with lots of functionality. Designed for every step of the real estate lifecycle, MRI’s capabilities include financial services, automated leasing, leasing CRM support, reporting, analytics, and a resident portal. 

Standout features include:

• Convenient property management portals: This includes access to its Connect Suite, which allows you to manage and organize resident information, allowing residents to pay rent payments via credit card, and manage service requests.

• Automated leasing: This includes access to a CRM that centralizes and manages lease data collection, allows you to see all unoccupied units and amenities, and automate renewals for better retention.

• More avenues for marketing: This includes the ability to syndicate your listings to open local Internet Listing Service websites directly from the MRI platform.

• Clear visibility on finances: This includes the ability to view and manage residential property performance, the resident lifecycle, compare against projections, and access real-time data for reporting, billing, facility and project management.

• Key integrations: MRI integrates with Rhino, Procore, Notifii Track, VTS, WebRezPro, AvidXchange, and more.

For pricing information, contact MRI today.

AppFolio

AppFolio is a well-known fixture in the rental property management software industry. With a focus on speed and innovation, AppFolio has gained recognition as one of the fastest-growing, all-in-one providers for residential, commercial, student housing, and community association (HOA) properties. Its ability to offer one unified platform for marketing, accounting, maintenance, and other high-priority needs, has made it a smart, reliable choice for many property owners and managers.

Teams who use this platform enjoy how organized and thorough it is. While there aren’t as many customizable features as others on this list, there are still many opportunities to access, manage, and advance important processes. Committed to expanding what’s possible on a real estate single platform, AppFolio has also created a smart, flexible base for integrations. And as its name suggests, this platform is also accessible via smartphone and tablet. 

Standout features include:

• Advanced resident experiences: This includes access to two-way texting with renters and property owners and a digital record of all communication, an online resident portal to manage maintenance requests, and a convenient mobile app that gives residents 24/7 access to their accounts, the ability to make online rent payments, and submit requests.

• Robust marketing and leasing services: This includes access to automated rent and billing posting, unit vacancy tracking, online leasing, virtual showings, listing optimization, and professional website services to improve the lead-to-lease process.

• Convenient automation: This includes the ability to create workflows that automate repetitive operational tasks (like accounts payable) to improve your team’s agility.

• Reliable accounting and reporting: This includes the ability to streamline bill entry with Appfolio’s AI, get real-time insights, and keep a pulse on your cash flow, owner statement, income statement, balance sheet, delinquency record, rent roll, and more in over 80 customizable reports.  

• Key integrations: Appfolio integrates with Procurify, AvidXchange, Stessa, Birdeye, IT49, and more.

For pricing information, contact Appfolio today.

The best property managers know that the secret to doing it all is actually doing less. With the right rental property management software in their arsenal, teams can advance their output and the impact they’re making to the bottom line. It’s all about working smarter, not harder, to accelerate the growth of your business, and we’re confident that these solutions will get you there. 

Learn more about what to look for in your next proptech investment by speaking to one of our experts. Get in touch.