Categories   >   Lease Management Software
Last Reviewed: November 13th, 2024

Best Lease Management Software Of 2024

What is Lease Management Software?

Lease Management Software serves as a comprehensive lease lifeline, centralizing and streamlining the management of leases and the related transactions. Intended to declutter the often muddled landscape of lease administration, it eradicates common bottlenecks like missed lease milestones, scattered data, and inefficient administration. The software is packed with valuable features including lease tracking, document management, and payment calculation, aiding real estate companies, property owners, and lessees. On the flip side, challenges like steep learning curves and high implementation costs could be stumbling blocks. To encapsulate, Lease Management Software unfolds as a robust administrative backbone, refining lease administration into an efficient, organized, and transparent process. It takes the pain out of lease management, seamlessly integrating multiple functions into a one-stop platform, reinforcing efficiency, and injecting precision into lease administration.

What Are The Key Benefits of Lease Management Software?

  • Streamlined Lease Administration
  • Centralized Lease Data
  • Efficient Tracking of Leases
  • Automated Payment Calculations
  • Reduced Missed Milestones
  • Simplified Document Management
  • Enhanced Lease Performance Analysis
  • Improved Tenant Communication
  • Secure Lease Data Storage
  • Better Compliance with Regulations
Read more

Overall

Based on the latest available data collected by SelectHub for 38 solutions, we determined the following solutions are the best Lease Management Software overall:

AppFolio
AppFolio
Start Price
$1.49
Per Unit, Monthly
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
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Why We Picked AppFolio

AppFolio is an all-encompassing platform covering every aspect of property management. According to reviews, it’s an intuitive platform that localizes business processes and offers unique collaboration tools and a mobile app. Along with AI-embedded maintenance workflows, the universal search bar is one of its standout features.
However, reviews noted that it’s difficult to understand a variety of nuanced features without proper training. Also, due to no open API, businesses should be wary of their existing software stack requiring integration with the platform.
In conclusion, AppFolio is a robust management platform with various advanced features to support every kind of property. But the high cost, hit-or-miss support suite and scarce training resources can make it inconvenient for single landlords and managers with smaller portfolios.

Pros & Cons

  • Maintenance Management: 89% of users discussing this aspect said that they saved time with smart maintenance workflows.
  • Workflow Localization: According to 96% of users who reviewed this benefit, the software is feature-rich and localizes accounting, marketing and management workflows.
  • Ease of Use: It’s an intuitive platform that doesn’t require technical knowledge for beginners, as mentioned by 95% of users reviewing the user interface.
  • Collaboration: It provides an efficient centralized communication hub, according to 100% of reviews on native interactions.
  • Universal Search Bar: All the reviews on the search bar noted that it’s easy to locate documents and data throughout the organization.
  • Mobile App: Users can perform every major function remotely via the app, according to 88% of users reviewing the mobile app.
  • Integrations: It doesn’t support unique integrations with third-party software, according to 89% of reviews on backend connectivity.
  • Reporting: Reports generated through the platform lack customizations, as observed by 73% of reviews on the analytics module.
  • Accounting: Lack of automatic bank feeds and weekly recurring transactions and recording expenses without creating bills hinder smooth accounting, according to 57% of users reviewing the accounting module.
  • Customer Support: 67% of users mentioning customer support said that they were not satisfied with the support response time.

Key Features

  • Communication: Maintain a flat organization with clear communication between team members, managers, landlords and tenants. 
    • Individual Portals: Provide unique communication portals to associated parties based on their role. Tenants can pay rent, submit maintenance requests, interact with managers and view lease documents. Enables managers to communicate with multiple owners, issue work orders and send notifications and updates in bulk. Owners can track property-specific performance reports, assign tasks and transfer funds. 
    • Document Library: Maintain a centralized library of documents, leases and tenant information. Set role-based access permissions for each document. 
    • Board Member Management: Commercial property businesses can schedule board meetings, conduct polls on invoices and architectural requests, track votes and share documents and reports. 
    • Tenant Insurance: Tenants can submit proof of renter insurance or buy insurance provided by the vendor. Manage each policy and its maturity from the dashboard. 
    • Emails and Surveys: Email surveys, updates and notifications in bulk or send individually based on requirements. Offers unique surveys and text templates. 
    • Mobile App: Access the platform via any device and promote remote workflows. 
  • Accounting and Reporting: Gain visibility and make informed decisions faster. 
    •  Automate transaction recording and property-specific bookkeeping. 
    •  Offers CAM tracking and reconciling modules for commercial properties. 
    •  Use AI and machine learning to read PDF invoices from vendors, identify key information and automate accounts payable. 
    •  Leverage over 80 report templates and automate recurring report generation. Every template is customizable and updated frequently. 
    •  Customize the dashboard with real-time data visualizations and receive AI-driven performance insights. 
    •  Supports integration with personal banks and digital wallets to unify renting, accounting and reporting workflows. 
    •  Customize late fee processes. Set personalized rules in bulk or case-by-case waivers. 
    •  Manage multiple tenant accounts, track lease lifecycle and refund deposits directly from escrow. 
  • Marketing and Leasing: Generate leads, schedule showings, design leases and screen prospects from the dashboard. 
    • AI Leasing Assistant: Use an AI chatbot to automate property showing appointments, qualify leads according to set parameters, cross-sell units and answer FAQs. Respond to customer queries 24/7 through texts or emails. 
    • Omnichannel Marketing: Syndicate portfolio on multiple internet listing services (ILS) and manage every listing from the dashboard. Get real-time notifications upon each engagement and generate custom guest cards to track prospects. 
    • Personal Website: Design a personalized website with brand color and logo for portfolio marketing. Available at an extra cost. 
    • Rent Analysis: Retain a competitive edge by comparing rental prices of neighboring units to determine the best price for marketed properties. 
    • Virtual Showings: Accommodate prospects’ needs by scheduling and running live virtual tours of listed properties. Supports integrations with PropTech like smart locks and HVACs to facilitate self-guided property tours by prospects. 
    • Vacancy Management: Consolidate vacancy postings and tasks, view current status, and market units on multiple ILS from the unified dashboard. 
    • Tenant Screening: Screen every applicant’s credit score, eviction history, income verification and criminal record via TransUnion. Property managers can either pay for the reports or charge applicants. 
    • Leasing Hub: Design custom leases with personalized clauses and allow applicants to eSign them from anywhere. Track every lease lifecycle and set defaults for automatically updating lease dates, rent structures and statuses upon expiration. 
    • Student Housing: Supports lease and tenant management based on beds occupied. 
  • Maintenance: Streamline maintenance processes with AI and intelligent workflows. 
    • Smart Maintenance: Use the mobile app to receive maintenance requests, issue work orders and track progress. Set default rules to automatically dispatch pre-approved vendors. Accurately calculate the shared fee for common area maintenance and send invoices to renters. 
    • Vendor Onboarding: Vendors can access the platform, receive work orders, share status and send invoices. Automate bills payable and maintain records of work done for a clear audit trail. 
    • Utility Management: Track and charge each renter based on actual consumption and automate utility invoice processing. Use analytics to identify and fix leaks. 
    • Mobile Inspections: Perform mobile inspections, log issues and expedite turnovers. 
    • Auditing Center: View an itemized history of every activity and track changes made by team members and vendors. Use unique filters to identify and correct mistakes quickly. 
    • 24/7 Maintenance Contact Center: Deal with tenant calls, dispatch pre-approved vendors and input data directly to the user database. 
  • Team Management: Onboard unlimited team members, define role-based access levels and manage each person’s workflow. 
    • Training: Embed training manuals into the software to onboard new hires more easily. Centralize policies and procedures to ensure associates follow protocols while performing tasks. 
    • Task Management: Set tasks, assign staff and monitor progress with an interactive calendar. Team members can share tasks and customize workflows. 
    • Universal Search: Use the search bar to quickly navigate and find documents, records or data. 
  • Integrations: Supports integrations with personal marketing websites and third-party applications, including BlueMoon, CodeBox, Engrain, MatterPort and CIT. 
Avail
Avail
Start Price
$300
Per Unit, Monthly
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
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Why We Picked Avail

Avail helps property managers and landlords market, maintain and manage their properties. Reviews state it’s an all-in-one solution ideal for smaller portfolios. Users have identified the lease template library, omnichannel marketing suite and responsive customer support as the standout features.
However, users have noted that it lacks any accounting capabilities and requires third-party apps for these tasks. Plus, the user interface is challenging to understand for beginners. The free starter plan is a good way to get a feel for the platform before deciding whether to choose the paid version.

Pros & Cons

  • Lease Templates Library: It’s easy to generate custom leases using the state-specific lease templates, according to 84% of users talking about digital leases.
  • Customer Support: Over 92% of users who reviewed support said they were satisfied with the vendor’s response time and quality.
  • Deployment: About 78% of users mentioning onboarding and implementation said it’s easy to deploy and integrate the solution with current workflows.
  • Marketing: It helps manage listings on multiple channels from a single dashboard, according to 100% of reviews on the marketing suite.
  • Tenant Experience: It enhances overall tenant experience through customizable individual profiles, according to 88% of reviews mentioning this element.
  • Prospect Screening: Around 89% of users reviewing the screening process said they were satisfied with the in-depth capabilities offered.
  • Accounting: Lacks accounting features and integrations, according to 92% of users talking about this feature.
  • User Interface: The user interface isn’t intuitive and involves a steep learning curve, according to 75% of reviews mentioning the UI.

Key Features

  • Automatic Listing: Create customized listings and automatically post them on various property listing websites. Leverages partnerships with industry-leading property websites, including Trulia, Zillow, Doorsteps.com, HotPads and more. 
  • Rent Analysis: Determine optimum rent for specific properties via rental analysis through collaboration with RentRange. Compare rent and other data with competing listings relevant to user portfolios. 
  • Customizable Digital Lease: Draft property leases with specific clauses, rules and attachments using state-specific lease templates tailored to comply with various laws and regulations. Invite tenants to e-sign documents and communicate with them from the online portal. 
  • Marketing Website: Create a personalized marketing website through which prospective tenants can view rental properties and apply for listings. 
  • Online Rent Payments: Save time and hassle with its automatic online rent collection system that handles payments, rent reminders, receipts and reporting. Renters can pay rent online at their convenience from any device and via checking and savings accounts, credit cards and debit cards, as well as set up monthly recurring payments via Autopay. Direct deposits rent payments into landlords’ bank accounts in approximately two business days; cut payment processing time and receive next-day payments with FastPay, available for landlords on a premium plan. 
  • Rental Application: Choose information to receive on rental applications based on customizable templates. The standard application contains screening questions on smoking, bankruptcies, felonies, evictions and more. Custom questions are available through the Unlimited Plus Plan. Applications are free for both tenants and landlords. 
  • Tenant Screening: Screen tenants through a partnership with TransUnion. Choose which tests to require, with options including background checks, credit score checks and a National Eviction Records search. Applicants can pay for their background checks directly. Reports don’t hurt their credit scores and can be reused on unlimited applications within 90 days. 
  • Maintenance Tickets: Plan and schedule maintenance activities while maintaining an open line of communication between all parties. Keep track of expenses, materials used and work status. Tenants can submit and track requests online, with the ability to upload pictures and videos as necessary.  
  • Integrations: Integration with CreditBoost helps boost tenants’ credit scores through timely payments, while the Lemonade integration provides renter’s insurance quotes and options. 
Buildium
Buildium
Start Price
$55
Monthly
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
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Why We Picked Buildium

Buildium helps property owners and managers digitize and streamline every property management workflow. Users prefer the solution because of its end-to-end property management features, ease of use and responsive support suite. Reviewers also mention that residents are fond of the platform’s mobility and prefer paying rent and issuing maintenance requests digitally.
However, reviews note that the platform is mainly built for residential properties and lacks nuanced features like complicated lease structures, automatic utility tracking, in-depth CC&R and violation tracking for commercial, student and community properties. Users also have to manually match transactions to bank entries and can’t issue work orders automatically. Considering everything, buildium can get confusing for larger portfolios but is perfect for single landlords and managers to organize and monitor operations from a unified dashboard.

Pros & Cons

  • End-to-End Software: Buildium is a comprehensive solution that can handle marketing, leasing, maintenance and management workflows of a property management business, according to 88% of users reviewing its features
  • Accounting: It offers robust and intuitive accounting features, according to 90% of reviews on this aspect.
  • Resident Experience: All the users who mentioned this element said that the software enhances overall tenant experience via individual communication portals, digital work orders and electronic rent payment.
  • Intuitive Interface: It has a simple and easy-to-use user interface, according to 80% of reviews on this aspect.
  • Customer Support: According to 90% of users who reviewed support services, the vendor offers responsive and agile customer support.
  • Commercial Property Management: The software lacks nuanced features for commercial property management, according to 100% reviews on this aspect.
  • Leasing: Insufficient in-depth leasing customizations are an issue, according to 85% of users who reviewed this element.
  • Automation: Accounting and maintenance management, according to 100% of reviews on this element.

Key Features

  • Accounting: Track and share owner, vendor and residential accounts and maintain accurate books. 
    • Property Accounting: Record transactions, convert work orders into bills and pay in bulk, automate bank reconciliations, identify discrepancies, and share customized reports. 
    • Company Financials: Capture financial overviews by tracking property-specific transactions alongside miscellaneous income and expenses. 
    • Online Payments: Accept rent, set up recurring transactions, pay bills and automate bookkeeping. Residents can add bank accounts or credit cards through individual portals. 
    • Retail Cash Payments: Leverage partnership with PayNearMe to allow residents to pay rent, dues and other fees in cash at multiple convenience stores like 7-Eleven, Casey’s General Store and more. Automatically update payments on respective ledgers and deposit them into bank accounts within a week. 
    • 1099 eFiling: E-file 1099-MISCs and 1099-NECs forms, mail paper copies to owners and vendors, and automate tax calculation based on year-round incomes. 
  • Business Operations: Streamline communication with owners, vendors and residents from a centralized platform. 
    • Resident Center: Residents can pay rent, set up recurring payments, submit maintenance requests coupled with photos and access important documents via mobile-responsive portals. Offers an announcement board to highlight updates, notifications and alerts from managers. 
    • Owner Portal: Owners can access property-specific financial documents and reports. Managers can control access levels for each owner portal. 
    • Document Storage: Securely store property-related documents, including leases, addendums, expense reports, vendor invoices and more and share with a few clicks. Offers unlimited storage space. 
    • Maintenance Tracking: Track maintenance requests, create work orders, assign preferred vendors and automate recurring maintenance activities. 
    • Property Inspection: Perform inspections on the go using an app powered by Happy Inspector. Choose from several templates to customize reports. Make a to-do list, take notes, and capture pictures and videos. 
    • Renters Insurance: Provide tenants with a fully integrated renter’s insurance solution powered by MSI. Document enrollment information and manage each policy till maturity from the dashboard. 
    • Analytics: Monitor real-time data visualizations, customize reports, compare data with localized industry benchmarks and share analysis with clients and board members. 
  • Marketing and Leasing: Increase digital visibility of the entire portfolio, shortlist suitable prospects and design custom leases. 
    • Rental Listings: Create and syndicate custom property listings on multiple channels, including Apartment List, HotPads, Lovely, MyNewPlace, Trulia, Zillow and Yahoo. 
    • Professional Website: Own and design a personalized property website for prospects to apply for listings. Upload important documents like residents rulebook, floor plans and model leases to create a secure self-service hub for prospects, tenants and owners. 
    • Rental Applications: Choose the best applicants based on personalized parameters through a customizable online rental application form that integrates with the website. Accept any related application fees online. 
    • Showings Coordinator: Leverage the module powered by TenantTurner to automate tour schedules according to set rules. Communicate with prospects via email, texts and SMS. 
    • Tenant Screening: Set custom credit score requirements, run background checks and receive credit score information from TransUnion. 
    • Leasing: Design custom lease templates and autofill data to expedite the process. Prospective tenants can digitally sign documents from remote locations. 
  • Homeowner Association Management: Log, track and report property violations remotely. Automate penalties and consequent bookkeeping. Offers a unified inbox for communication among board members, homeowners and vendors. 
Propertyware
Propertyware
Start Price
$1
Per Unit, Monthly
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
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Why We Picked Propertyware

Propertyware is a robust platform that helps managers and landlords streamline marketing, maintenance, management and accounting workflows. Reviews identify a responsive customer support team, flexible interface and comprehensive reporting suite as the main reasons for the platform’s popularity.
However, due to the variety of features offered and inadequate training material available, implementing and understanding the software can be time-consuming. Given that, we advise small and medium businesses to tailor the software according to their needs and remove any extra features to avoid complexity.

Pros & Cons

  • Complete Package: Propertyware is an all-in-one solution that can handle every aspect of property management, according to 83% of reviews mentioning this element.
  • Customer Support: According to 100% of users who reviewed the support suite, the support team is helpful and responsive.
  • Customizable: It’s a flexible platform that can fit the needs of every type and scale of property management businesses, according to 72% of reviews on customization.
  • Reporting: It’s easy to design unique reports with business-specific metrics, according to 83% of reviews on data visualization.
  • Complexity: The platform has a steep learning curve due to the variety of features offered, according to 74% of reviews on ease of usage.
  • Training Resource: Propertyware lacks adequate training material for beginners, according to 81% of users reviewing this aspect.

Key Features

  • Marketing and Leasing: Integrated marketing and leasing modules ensure smooth data flow throughout the cycle, eliminating manual data entry and reducing lost leads. 
    • Branded Website: Design mobile-optimized websites with business color and logo for showcasing units. Provides a library of customizable templates. 
    • Listing Widget: Create brand-consistent property listings, offer search and filter features to customers based on leasing terms, and provide portals for applications. The widget functions on native websites, and there’s a code for usage on external listing channels. 
    • Lead Tracking: Track each prospect from lead generation to lease signing. Offers guest card information, CRM, customizable reports and dashboards, and more. 
    • Application Portal: Applicants can provide address validation and add co-applicants, guarantors and others to ensure data accuracy. Offers unique views, reports and dashboards to get real-time data into each applicant’s journey. Applicants can add themselves to waitlists and save and continue later with an application. 
    • AI-Powered Tenant Screening: Screen prospective tenants using an AI-based algorithm. Check tenants’ rent payment history, criminal background, credit score, monthly income-to-rent ratio and other factors to determine their ability and willingness to pay rent. 
    • Leasing Hub: Create templates for commonly used documents like work orders, leases, invoice approvals and more. Applicants can remotely eSign documents. Store unlimited files and use the search bar to find required ones quickly. 
  • Online Payment: Collect rent online through electronic bank transfers and credit and debit cards. Tenants can pay via cash at convenience stores like Walmart or create cash payment vouchers on mobile devices. 
  • Role-Based Portals: Owners and residents can use mobile-optimized portals to access property-related documents, pay and receive rent and other fees, issue maintenance requests with multimedia proof, and communicate with managers. 
  • Chat: Send DMs, group messages and emojis. Maintain a record of every interaction with tenants and owners for compliance. 
  • Maintenance Management: Get updates on every maintenance activity, log issues and perform inspections from the platform. 
    • Work Orders: Standardize recurring maintenance tasks and pricing. Call center specialists can dispatch pre-approved vendors to quickly resolve issues. Store work orders, track progress, work with multiple vendors and automate accounts payable. 
    • Mobile Inspections: Camera mode aids property inspections, additionally, customize reports, compare past inspections and share evaluations with owners and tenants. 
    • AssetProtect Program: Property owners and managers can choose insurance plans to protect rental assets, drive ancillary revenue and maximize insurance compliance. 
    • Utility Management: Avoid late fees on utility bills with a seamless billing and collection process powered by SimpleBills. Simplify utility management to improve net operating income, reduce costs and turnaround time, and ensure quick move-ins. Available for single-family properties only. 
    • Vendor Credentialing: Reduce compliance risks by choosing from over 135,000 pre-verified vendors. Obtain critical information from multiple sources to ensure a complete audit trail. 
  • Accounting: Leverage QuickBooks integration to save time and reduce hassle. Record company financials, maintain general ledgers, manage and track bills, collect markup for bills, and track discrepancies using automatic bank reconciliation services. 
  • Multi-Location Management: Manage properties from different locations, create standardization across every unit and consolidate reporting to measure performance and other key metrics from a single dashboard. 
RealPage
RealPage
Start Price
$7.30
Per 10,000 Square Feet, Monthly
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request Pricing Request Demo

Why We Picked RealPage

RealPage has emerged as a prominent contender, offering a suite of features designed to streamline operations for property managers of all sizes. Let's delve into the feedback from users over the past year to uncover the strengths and weaknesses of this platform and determine if it aligns with your unique requirements.

RealPage has received accolades for its user-friendly interface and comprehensive functionality. Users appreciate the ability to efficiently manage rent collection, maintenance requests, tenant communication, and financial reporting all within a single platform. The software's automation capabilities have been particularly well-received, as they save property managers valuable time and effort. However, some users have expressed concerns about the software's pricing structure, finding it to be relatively expensive compared to some competitors. Additionally, a few users have noted that the software's customization options could be more robust, limiting their ability to tailor the platform to their specific workflows.

RealPage distinguishes itself through its extensive range of features and its focus on providing data-driven insights. The platform's analytics tools empower property managers to make informed decisions based on real-time data, optimizing property performance and maximizing revenue. Furthermore, RealPage's integration with various third-party applications enhances its versatility and adaptability. Considering its comprehensive feature set and data-driven approach, RealPage is best suited for property management companies seeking a robust and scalable solution to manage their portfolios effectively. It is particularly well-suited for larger organizations with complex operations that require advanced analytics and automation capabilities.

Pros & Cons

  • Centralized Communication Hub: RealPage serves as a central hub for resident communication, maintenance requests, and online rent payments, streamlining property management operations.
  • Accounting Features: The platform offers robust accounting tools, including accounts payable and receivable management, budgeting, and financial reporting, simplifying financial management for property managers.
  • Marketing and Leasing Tools: RealPage provides tools to create and manage property listings, screen tenants, and process lease applications, aiding in attracting and securing new residents.
  • Maintenance Management: The platform facilitates efficient maintenance management by allowing residents to submit requests online, tracking work orders, and managing vendor relationships.
  • Reporting and Analytics: RealPage offers comprehensive reporting and analytics capabilities, providing insights into property performance, resident trends, and financial metrics to support data-driven decision-making.
  • Customer Service: Users frequently report challenges in getting timely and effective support from RealPage's customer service team. This can lead to frustration when encountering technical issues or needing assistance with the platform's features.
  • Usability: The platform's interface can be complex and challenging to navigate, especially for new users. This complexity can lead to a steep learning curve and hinder efficient use of the software's capabilities.
  • Cost: RealPage's pricing structure can be a significant concern for property management companies, particularly smaller businesses or those with tighter budgets. The cost of the software may outweigh its perceived benefits for some users.
  • Integrations: Integrating RealPage with other software systems can be a complex process, potentially requiring additional development work or custom solutions. This can create challenges for property management companies that rely on multiple software platforms to manage their operations.

Key Features

  • GoDirect Marketing: Drive qualified traffic directly to personal property websites instead of indirect leads generated from internet listing services. Optimize marketing strategies and unify customers’ online journey. 
  • Digital Content Services: Increase engagement and drive online traffic with quality digital content. Streamline marketing efforts with centralized storage, manage media from the dashboard, and review and analyze data to elevate online visibility. Some of the unique content creation tools available are: 
    • Video Call Tours: Remote leasing agents can conduct virtual property tours with interactive walkthroughs and professional photography. Prospects can schedule tours on demand. 
    • Matterport Tour: Provide an interactive VR tour of high-definition photographs of up to 20 locations within a unit, including click points containing unique information. 
    • 3D Virtual Tour: Create an animated virtual tour from the property’s 2D or 3D floor plan; viewers can take control of their tours from inside the unit. 
    • Storybooks Digital Brochure: Arrange a mix of photographs, graphics and music to highlight the property’s best amenities. 
    • Lifestyle Video: Include premium quality videos shot on location with professional filming techniques. 
    • Drone Video: Offer a high-definition aerial view video with stunning visuals, providing a broader perspective of the location.  
    • Copy Service: Hire professional writers and editors to produce customized blogs, articles and listings to attract target demographics. 
  • Contact Center 3.0: Leverage an AI-backed 24/7 augmented solution to maximize conversions through on-time information delivery. Manage sales calls, leasing queries and maintenance requests. 
  • Personalized Website: Design professional websites and create unique touch points between the brand and renters with assistance from marketing reps. Increase engagement with mobile-friendly website templates. 
  • Leads to Lease: Make informed business decisions by tracking leads and integrating marketing data with revenue data. Draft customizable e-leases with personalized terms and clauses, and renew leases with new additions. 
  • Deposit Alternatives: Tackle bad debts and avoid losing leads due to requiring a high security deposit upfront. 
    • Deposit Insurance: Generate ancillary revenue; instead of paying a hefty security deposit, residents can set up an affordable and non-refundable monthly premium payment. 
    • DepositIQ: An upfront, non-refundable surety bond that ensures lease obligations, can be used in place of a hefty security deposit. 
  • Insurance Solutions: Mitigate risks for both residents and landlords, and enhance revenue with these unique and customizable solutions: 
    • Renter’s Insurance: eRenterPlan offers residents comprehensive insurance coverage of rental and personal assets. Optional RenterProtection provides coverage for vacant units or uninsured residents. 
    • AssetProtect: Offers property owners and managers an insurance program that protects rental assets, drives ancillary revenue and maximizes compliance. 
  • AI Screening: Access the industry’s largest rental payment database, screen for criminal background information and perform credit checks through top credit reporting bureaus. Verify identities and detect fraudulent applications using machine learning, equipped with behavioral data. 
  • Building Operations: Residents get keyless smart access to every door, use popular third-party applications for smart apartments and leverage high-speed internet access through the CommunityConnect integration. They can also submit maintenance requests with multimedia attachments to substantiate their claims. 
  • Payment Portal: Accept payments for rent, bills and other expenses through check, money order, credit and debit cards online. Integration with LockBox allows residents to mail checks to designated P.O. boxes. From there, checks are scanned, converted into digital transactions and routed to the owner’s account. 
  • Vendor Credentialing: Reduce liability and increase visibility by choosing pre-verified vendors who meet personal compliance requirements. The Credential Key Program thoroughly assesses each vendor’s background, success metrics and insurance and liability coverage to clear those eligible for same-day approval. 
  • Utility Management: Increase efficiency through a platform for billing ancillary costs. Manage and track property energy consumption and reduce waste. The submetering feature allocates utility costs among residents based on actual consumption. Reduce expenses through automatic cost allocation and avoid deploying on-site staff. 
  • Community Rewards: Offer residents digital reward points for engagement with the property?— from surveys and contests to online bill payments, renewals and more. Encourage engagement to increase loyalty and online reputation assessment scores, which helps cut lead tracking expenditure and cost-per-lease. 
  • Accounting Suite: Automate data entry, streamline workflows, record company financials, maintain general ledgers and manage and track bills. Outsource tasks to the SmartSource accounting team instead of staffing and training new accountants. 
  • Analytics: Gain critical insights into performance, track risks and opportunities, and maximize profitability. Optimize pricing through accurate demand and supply balance management. Receive detailed analysis of revenue management and market conditions. 
Tenant Cloud
Tenant Cloud
Start Price
$15.60
Monthly
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
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Why We Picked Tenant Cloud

TenantCloud is an all-in-one solution that can handle unit marketing on multiple ILS, screening and leasing prospects, maintenance work orders, online payment and reporting. Reviews identified its templates library, mobile apps and training material as noteworthy features.

However, it’s suited only for residential properties. The vendor doesn’t provide advanced features like intelligent automation, trust accounting and smart maintenance offered by competitors at the same price range as TenantCloud’s premium plan. It’s a good option for single landlords and small property managers but can bog down operations for businesses with more than 30 units.

Pros & Cons

  • Pricing: It offers a free starter plan, and the paid plans are economical compared to competitors, according to 81% of reviews on product pricing.
  • All-in-One Property Management: According to 93% of reviews on this aspect, the platform can handle every facet of property management and helps consolidate diverse operations.
  • Templates Library: Offers a rich templates library for emails, leases and other documents, according to 70% of reviews on templates.
  • Mobility: 89% of customers discussing this aspect said it’s easy for management and residents to access the platform via mobile apps.
  • Training: The vendor offers useful how-to guides and step-by-step tutorials, according to 82% of reviews on the knowledge base.
  • Unintuitive UI: It’s difficult to navigate chat notifications, application alerts and more, according to 65% of reviews on user experience.
  • Mixed Portfolio: All the reviews on this element mentioned that it lacks features for managing commercial properties and homeowner’s associations.
  • Automation: It doesn’t provide automation in key areas like double-entry accounting, invoice reading, autofills, assigning vendors for recurring tasks and more, according to 90% of reviews on this feature.

Key Features

  • Online Payment: Collect rent via online payment as well as credit and debit cards. Motivate tenants to pay rent on time by setting up late fees, as well as grace periods. Tenants can opt for recurring payments via auto pay. 
  • Accounting: Store, sort and retrieve all property transactions, balances, invoices and receipts. Track deposits, credit refunds and maintenance charges. Export data whenever required and maintain professional financial records. 
  • Maintenance Requests: Submit and schedule maintenance requests. Keep track of expenses, materials used and work status. Tenants can attach pictures and videos to their requests to better explain their problems. 
  • Rental Application: Share listings online, choose required documents and receive applications and fees directly. View prospective tenants using built-in lead tracking tools and invite them to apply. 
  • Online Leases: Create property lease and rental agreements with a few clicks and invite tenants to e-sign documents., Customize and renew documents with new tenant additions. Save time in designing lease agreements with pre-loaded, customizable templates. 
  • Tenant Screening: Run tenant screening tests directly on demand through partnership with TransUnion. A screening report contains a background check, credit score check and National Eviction Records search. 
  • On-Demand Reports: Generate comprehensive reports — add or remove different metrics and filters to access specific insights as needed. 
  • Mobility: Compatible with desktops and laptops; also available for both Android and iOS mobile devices. 
Rentec Direct
Rentec Direct
Start Price
$45
Monthly
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
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Why We Picked Rentec Direct

Stepping into the realm of property management software, Rentec Direct emerges as a prominent contender, capturing the attention of landlords and property managers seeking efficient solutions. User feedback from the past year sheds light on the platform's strengths, weaknesses, and unique attributes, painting a comprehensive picture of its capabilities and suitability for various needs.

Rentec Direct receives consistent praise for its user-friendly interface and comprehensive suite of features. The platform simplifies tasks such as rent collection, tenant screening, maintenance requests, and lease management, streamlining operations for property management professionals. Users appreciate the affordability of Rentec Direct, especially when compared to competitors like AppFolio and Buildium, which often come with higher price tags. However, some users have expressed concerns regarding the responsiveness of customer support, highlighting the need for improvement in this area. The ability to access the software from any device with an internet connection is a significant advantage, providing flexibility and convenience for users on the go.

Rentec Direct caters to a diverse range of property management needs, making it suitable for both individual landlords and larger property management companies. Its scalability and affordability make it an attractive option for those starting or expanding their portfolios. The platform's comprehensive feature set ensures that users have the tools necessary to manage their properties effectively, from tenant communication to financial tracking. While Rentec Direct may not be the perfect fit for every user, its combination of affordability, user-friendliness, and comprehensive features positions it as a valuable tool for those seeking to optimize their property management processes.

Pros & Cons

  • Tenant Portal: Tenants can pay rent and submit maintenance requests online, which can save property managers time and hassle.
  • QuickBooks Integration: Rentec Direct can be integrated with QuickBooks, which can make accounting easier for property managers.
  • Good Customer Support: Many users report that Rentec Direct has good customer support, which can be helpful if property managers have any questions or problems.
  • Customizable: Rentec Direct is customizable, so property managers can tailor it to their specific needs.
  • Mobile App: Rentec Direct has a mobile app, which can be convenient for property managers who are on the go.
  • Limited Accounting Features: The platform lacks robust accounting functionalities, such as generating a balance sheet or tracking depreciation, which are essential for comprehensive financial management.
  • Customer Support Challenges: Obtaining timely and effective assistance from Rentec Direct's customer support can be difficult, leading to frustration and delays in resolving issues.
  • Mobile App Limitations: The mobile app's functionality is restricted compared to the web version, hindering on-the-go property management tasks.

Key Features

  • Property Marketing: Fill up vacancies faster, increase inventory visibility and boost occupancy rate with marketing tools: 
    • Customizable Listings: Create personalized listings mentioning amenities and rules and regulations, and automatically syndicate them on industry-leading listing websites like Trulia, Zillow, HotPads and more. 
    • Personal Website: Build a custom website to showcase listings and accept online applications and fees. Customize the website with HTML or CSS coding to promote the brand and company. Free web hosting on vendor servers is included with the Pro and PM plans.
    • Lead Tracking: Track leads and automatically match prospective tenants with vacant units based on their interests and rental preferences. Tenants can save their preferences and get email notifications about suitable vacant properties. 
  • Rental Applications: Choose the best applicants based on personalized parameters with a customizable online rental application form. Accept applications and screening fees online. Store applicants’ data online and notify them upon selection. 
  • Tenant Screening: Identify the best applicants through screening for various parameters like background check, minimum credit score, national eviction searches, SSN validation and more. 
  • E-leasing: Create and store unlimited custom leases with specific clauses and obligations; invite renters to sign them virtually. 
  • Property Maintenance: Receive maintenance requests and assign work orders. Residents automatically receive email notifications upon work completion. Conduct virtual property inspections with the mobile application, powered by ZInspector. 
  • Online Portals: Save time and reduce confusion with a single platform for communication between property managers, owners and residents. The individual portals offer a few extra benefits: 
    • Tenant Portal: Residents can pay rent and ancillary charges, view statements, purchase insurance and submit maintenance requests. They can also receive announcements and notifications via this portal. 
    • Owner Portal: Owners can track property performance, occupancy rates, cash flows and notices. Download statements and reports. 
  • Payment: Receive and pay rent via online bank transfers, credit or debit cards or eChecks. Residents can also directly pay rent via cash by depositing the money at any of the 20,000 cash payment locations provided. They can also set up monthly recurring payment schedules. 
  • Accounting: Review, edit and print ledgers for every property, owner and bank account managed. Electronically file 1099-MISC tax forms with assistance from Nelco Solutions. Save time and reduce human error by automating double or triple entries through the QuickBooks integration. 
  • Reporting: Quickly view, analyze and drill down on specific items with a robust reporting system. Email, print or export reports as PDF or Excel files. 
Rent Manager
Rent Manager
Start Price
$1
Per Unit, Monthly
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request Pricing Request Demo

Why We Picked Rent Manager

Rent Manager garners mixed reviews from property managers. Users praise its ability to streamline operations, automate tasks, and provide robust reporting and analytics for informed decision-making. The online tenant portal enhances communication and resident satisfaction by facilitating rent payments, maintenance requests and communication.

However, the platform faces criticism for its steep learning curve and complexity, particularly for users new to property management software.

Ultimately, the decision to choose Rent Manager depends on individual needs and priorities. It’s a top solution for rent collection, automation, marketing and accounting. However, if user-friendliness and a robust mobile app are high on your requirements list, you’d be better off considering alternative options.

Pros & Cons

  • Robust reporting & analytics: Users appreciate the detailed reports on income, expenses, vacancies and tenant data, enabling data-driven decision-making for improved property management.
  • Streamlined operations & automation: Automating tasks like rent collection, maintenance requests and accounting saves time and effort, freeing managers to focus on strategic tasks.
  • Improved tenant communication: The online tenant portal facilitates easy rent payments, maintenance requests and communication, enhancing resident satisfaction and reducing the communication burden.
  • Marketing & advertising tools: Simplifying advertising vacant units and attracting new tenants through online listings and marketing automation saves time and effort, potentially increasing occupancy rates.
  • Scalability & adaptability: Rent Manager caters to various property sizes and types, offering flexible plans and features that adapt to growing needs.
  • Learning curve & complexity: The interface can be challenging for beginners, requiring significant time and effort to learn and navigate effectively, especially for those unfamiliar with property management software.
  • Pricing concerns: Additional fees beyond the monthly subscription can add up, making it potentially more expensive than competitors for certain users, especially those with smaller property portfolios or limited budgets.

Key Features

  • Marketing: Fill vacancies faster with the following strategic and automated marketing tools: 
    • Prospect Manager: Create branded application portals and allow prospects to apply for tenancy. The system helps you compare prospects and send personalized direct messages and unit letters. 
    • Website Development: Connect the system to an existing website or design a new one from scratch using customizable templates. Alternatively, get assistance from the rmWebPro team for advanced website building. 
    • Guest Cards: Prospects can answer personalized questions while browsing the site and fill out tailored cards. Automatically generate potential client profiles and store them in the database. 
    • Automatic Listing Syndication: Increase inventory visibility by pushing units and property information onto various popular ILS. The system automatically updates ILS postings for every database update. 
  • Tenant Screening: Choose the most suitable tenant by screening the income history, accumulated debt, and criminal and eviction history of each applicant. 
  • Leasing: Digitize the leasing and renewal processes, eliminating the hassle of handling paperwork. Create custom leases with personalized clauses and have clients sign them electronically. 
  • Communication: Interact with employees, owners and renters via VOIP phone calls, custom text messages, voicemail broadcasts and web chat. Offer 24/7 comprehensive maintenance support via its call center, powered by Anequim. 
  • Mobile App: Communicate with renters, owners and managers, receive rental payments, submit inspection reports to maintenance techs and issue work orders. Address rule violations and bill residents for utilities from any Android or iOS device. 
  • Payments: Accept payments in cash, credit and debit cards, check scans, and ACH transfers. The system automatically updates concerned ledgers after every transaction. 
  • Project Management: Customize workflows and automate recurring tasks and data entry. Track and manage inventory to update status and quantities in real-time. Reduce turnover periods for units by creating task lists via Make Ready boards. Delegate duties to associates and receive notifications upon completion. 
  • Property Management: Perform inspections and issue service orders. Track task progress and automate work orders for recurring maintenance activities. Simplify payables by integrating billable expenses into work orders and delegating chargeback costs to owners or tenants at a markup. 
  • Prospect and Tenant Portals: Create branded portals to accept applications and guide prospects through the screening and leasing process. Tenants get unique portals to manage important documents, pay rent, track utility consumption and request maintenance. 
  • Reporting: Gain actionable insights to make informed decisions with over 450 built-in state-specific reports. Alternatively, use drag-and-drop tools to craft personalized reports tracking custom metrics. Define rules to automate timely report generation and sharing with owners or team members. 
  • Accounting: Record company financials, maintain a general ledger, automate receivable and payable entries, manage and track bills, and create budgets using intuitive accounting tools. The system automatically imports bank statements along with reconciliation statements to avoid cross-checking and eliminate errors. 
Zego
Zego
Company Size
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Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
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Key Features

  • Zego Pay: Offer multiple payment options, including debit and credit cards, e-checks, digital wallets, check scan and cash. Collect rent into a single account irrespective of payment mode, and simplify reconciliation by collecting rent into multiple bank accounts. Residents can automate the rent payment cycle and set reminders. 
  • Zego Utility: Maximize utility expense recovery and boost operational efficiency by automating invoice auditing, accounts payable and resident billing, and creating intelligent workflows. With individualized billing and submetering, charge residents based on their actual utility consumption. Save time, avoid billing errors, monitor theft and get notified about delinquency within a day. 
  • Mobile Doorman: A customizable app for Android and iOS helps residents pay rent and utility bills, submit maintenance requests, communicate with on-site staff, receive notifications, allow guests entry, submit reservation requests and connect with communities, owners or managers. 
  • Zego Smart: Connect residents to their smart homes and manage their experience from a single platform. Stay competitive by providing a package of smart-apartment devices and property-wide WiFi. Expedite the unit turnover process by enabling self-guided tours and digitizing access keys. 
  • Integrations: Save time and streamline workflows through integrations with popular apps such as Yardi, MRI, Rent Manager, ResMan, CoreLogic, 365 Connect and more. 
Entrata
Entrata
Company Size
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Deployment
Cloud On-Premise
Platform
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Why We Picked Entrata

Entrata helps property managers handle every business operation, including accounting, marketing, leasing and reporting. Reviews noted that the intuitive interface closely mimics popular social network interfaces, enabling users to use the platform with minimal technical knowledge. Another standout feature is the student housing management module, which allows leasing-by-the-bed and bulk unit assignments to shuffle roommates easily.
However, reviews noted that it doesn’t provide a native email inbox and redirects users to external Microsoft Outlook servers through email notifications. In-depth user-based access role customizations are unavailable, and the platform lacks an itemized record of tracked changes. In conclusion, Entrata can be less effective for large enterprises but is suitable for property managers with small to medium portfolios.

Pros & Cons

  • User-Friendly Interface: Entrata is designed with an intuitive interface that's easy to navigate, making it simple for users to adopt and utilize its features effectively.
  • Comprehensive Feature Set: The software provides a wide array of tools covering essential property management tasks, from handling leases and maintenance requests to generating financial reports, all within a single platform.
  • Seamless Integrations: Entrata offers an open API and supports integrations with various third-party systems, allowing businesses to streamline operations and connect their existing software solutions.
  • Efficient Communication Tools: The platform facilitates clear and efficient communication channels between property managers, residents, and staff, simplifying interactions and improving service delivery.
  • Buggy Software: Users report frequent software glitches, especially with dashboard notifications and after updates, hindering smooth property management.
  • Difficult Implementation: The software setup is often reported as time-consuming and problematic, potentially delaying property management operations.
  • Unreliable Support: Customer support receives mixed reviews, with some users finding it unresponsive or unhelpful when dealing with software issues or seeking assistance.
  • Non-Intuitive Features: Certain functions and tools are not user-friendly, making it challenging for some property managers to utilize the software's full potential.
  • Resident Transfer Issues: Some users experience difficulties with the resident transfer process, leading to inaccuracies and administrative headaches.
  • Reporting Inaccuracies: Generating accurate reports can be challenging, impacting data analysis and potentially hindering informed decision-making.

Key Features

  • Data Management: Help residents move in faster, post transactions to the ledger, track maintenance activities, automate lease renewals and more on a single platform. Incorporate property accounting, purchasing, facilities and leasing data into a comprehensive package. 
  • Prospect Portal: Capture, convert and engage prospects with a secure, responsive website. Choose from a variety of templates to showcase real-time data. Track lead sources, ROI and abandonment rates to make informed marketing decisions. 
  • ILS Portal: Automatically syndicate data on property pricing, details and availability on all primary Internet Listing Services (ILS). Leverage integrations with Zillow, Zumper, Craigslist, Abodo and more. 
  • Revenue Management: Compare regional and seasonal data to price units optimally and maximize revenue. Owners and managers can set desired price range limits and optimize for specific variables with dynamic pricing. 
  • Online Marketing: Pull data from various ILS websites, Google My Business and Facebook Marketplace into one centralized platform. Combine organic SEO with paid ads to help beat competitors. 
  • Reputation Management: Pull all online reviews into a centralized dashboard. Monitor the units’ online visibility over time and post on social media to build and maintain reputation. 
  • Leasing Center: Customize and renew leases with personalized clauses. Bring mobility to leasing through e-signatures and an app for Android and iOS devices, powered by SiteTablet. 
  • ResidentVerify: Screen tenants swiftly based on their credit scores, criminal history, national eviction records and proprietary risk scoring. Attach the results directly to applications received through Prospect Portals to save time. Automatically club screening fees with the application fees. 
  • Payment: Offer residents a complete solution for accepting payments through credit cards, ACH and check scans. Residents can pay with cash by depositing funds at any MoneyGram location across the nation. Receive rent, deposits, utility bills and charges for pets and rentable items via any payment option. 
  • Resident Portal: Residents can pay rent and utility bills, receive parcel delivery notifications, submit and track maintenance and lease renewal requests. Manage resident transactions, send bulk announcements and advertise inventory from a single integrated dashboard. 
  • Accounting: Record company financials, maintain general ledgers and keep track of bills and discrepancies. Create and edit work orders, and record real-time transactional data in books automatically. Store and create snapshots of the company's financial health as and when required. 

COMPARE THE BEST Lease Management Software

Select up to 2 Products from the list below to compare

 
Product
Score
i
SelectHub’s Analyst Rating is based on data from our 400+ point analysis of Lease Management Software, user reviews, and our own crowd-sourced data from our free software selection platform. Scores are periodically updated via ongoing selection projects and user activity within our platform.
Start Price
Free Trial
Company Size
Deployment
Platform
Logo
AppFolio
$1.49
Per Unit, Monthly
Yes
Small Medium Large
Cloud On-Premise
Mac Windows Linux Chromebook Android
AppFolio
Avail
$300
Per Unit, Monthly
No
Small Medium Large
Cloud On-Premise
Mac Windows Linux Chromebook Android
Avail
Buildium
$55
Monthly
Yes
Small Medium Large
Cloud On-Premise
Mac Windows Linux Chromebook Android
Buildium
Propertyware
$1
Per Unit, Monthly
Yes
Small Medium Large
Cloud On-Premise
Mac Windows Linux Chromebook Android
Propertyware
RealPage
$7.30
Per 10,000 Square Feet, Monthly
No
Small Medium Large
Cloud On-Premise
Mac Windows Linux Chromebook Android
RealPage
Tenant Cloud
$15.60
Monthly
Yes
Small Medium Large
Cloud On-Premise
Mac Windows Linux Chromebook Android
Tenant Cloud
Rentec Direct
$45
Monthly
Yes
Small Medium Large
Cloud On-Premise
Mac Windows Linux Chromebook Android
Rentec Direct
Rent Manager
$1
Per Unit, Monthly
No
Small Medium Large
Cloud On-Premise
Mac Windows Linux Chromebook Android
Rent Manager
Zego
Still gathering data
No
Small Medium Large
Cloud On-Premise
Mac Windows Linux Chromebook Android
Zego
Entrata
Undisclosed
No
Small Medium Large
Cloud On-Premise
Mac Windows Linux Chromebook Android
Entrata

All Lease Management Software (38 found)

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Agilysys

by Agilysys
Agilysys
Agilysys is a renowned software provider offering comprehensive solutions in the hospitality and gaming industries. The company's software streamlines and enhances operations for businesses such as hotels, resorts, restaurants, and casinos. It aids in managing reservations, guest experiences, inventory, and more. Users include a broad spectrum of enterprises, from small eateries to large hotel chains. Agilysys stands out for its versatile suite of features, including property management, point-of-sale systems, inventory and procurement management, and analytics. The software optimizes customer interactions, enhances service quality, and improves efficiency in the hospitality sector. Users often compare Agilysys favorably to similar products, citing its industry-specific focus, reliability, and the array of tools tailored to meet the unique demands of the hospitality and gaming sectors. Pros Industry-Specific Focus Enhanced Guest Experience Efficient Operations Comprehensive Solutions Cons Costly for Small Businesses Complex Implementation Learning Curve Occasional Technical Issues
User Sentiment User satisfaction level icon: great
Cost Breakdown
$1,000 or more
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Yardi Breeze

by Yardi Systems
Yardi Breeze
Yardi Breeze is a cloud-based tool that helps manage residential, commercial, affordable, self storage, associations, manufactured housing and PHA properties individually. It enables online marketing, leasing, revenue tracking and reporting. It lets users manage rent collection, portfolios, compliance, maintenance, vouchers, accounting and more based on the property type. Different packages are available to accommodate single and multiple units.
User Sentiment User satisfaction level icon: great
Cost Breakdown
$10 - $100
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
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SimplifyEm

by SimplifyEm
SimplifyEm
SimplifyEM is a cloud-based solution that provides online rent collection, expense tracking, digital lease signatures, bookkeeping and access to a communication portal. Tax management, reporting, work order management and billing are some of its offerings. Users can choose packages, which include live support and unlimited data storage, based on the number of units to be managed. The vendor offers a free trial or test drive on their website so prospective customers can see it in action before purchasing.
User Sentiment User satisfaction level icon: great
Cost Breakdown
$10 - $100
Company Size
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Deployment
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Platform
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Moxtra

by Moxtra
Moxtra
Moxtra is a digital client portal builder that helps streamline customer engagement. It serves as a communication platform between teams and clients, facilitating meetings, discussions and media sharing. It is scalable and customizable to suit unique projects of all sizes and durations. Manage external and internal users and deliver a connected, fluid experience for web and mobile. Seamlessly integrates with existing websites or packages.
User Sentiment User satisfaction level icon: great
Cost Breakdown
$500 - $1,000
Company Size
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Platform
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storEDGE

by storEDGE
storEDGE
Designed specifically for the self-storage industry, storEDGE is a cloud-based software allowing seamless management of storage facilities from anywhere in the world. It offers marketing, rental and management modules. It integrates with innovative lead tracking widgets and offers data analytics and a native CRM to help boost rentals, manage operations and maximize ROI for businesses. The vendor also offers a variety of hardware bundles and custom installations anywhere in the U.S.
User Sentiment User satisfaction level icon: great
Cost Breakdown
$100 - $500
Company Size
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Deployment
Cloud On-Premise
Platform
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Lodgix

by VRM Solutions
Lodgix
Lodgix is a cloud-based vacation rental software that helps landlords, rental managers and boutique hotel owners manage online booking, guest experience and accounting. It offers communication automation, email marketing, multiple listing sites integration, data security, accidental damage insurance and other capabilities. Users can leverage unique integrations with payment processors, accounting software, marketing tools and more.
User Sentiment User satisfaction level icon: excellent
Cost Breakdown
$10 - $100
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
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MyVR

by MyVR
MyVR
MyVR is a cloud-based solution that helps landlords and property managers handle their entire portfolios from a single dashboard. It’s suitable for both small and big businesses. With direct connections to major listing sites, it simplifies marketing efforts without requiring a third-party channel manager. It offers a native website builder, calendar synchronization, unique integrations and more.
User Sentiment User satisfaction level icon: excellent
Cost Breakdown
$10 or less
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
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Re-Leased

by Re-Leased Software Company
Re-Leased
Re-Leased is a cloud-based solution that centralizes accounting, leasing, maintenance and management workflows. It’s mobile-optimized and accessible via any device. Managers can consolidate accounting and leasing data in a unified place for analysis and reduce the administrative burden with unique automation capabilities.It provides a business analytics module, a mobile app and external integrations for optimization. Businesses can onboard unlimited properties and team members and streamline processes with collaboration features.
User Sentiment User satisfaction level icon: excellent
Cost Breakdown
$100 - $500
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
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RMS Cloud

by RMS
RMS Cloud
RMS is a cloud-based property and reservation management system that provides flexible and scalable offerings to the hospitality industry. It is designed for users to manage real time online bookings from across the world and is accessible from any device. It is fully integrated with the global distribution, allowing multi-properties to distribute inventory in multiple sites. It provides direct connections to OTAs, facilitating commission-free booking while maximizing revenue.
User Sentiment User satisfaction level icon: great
Cost Breakdown
$10 - $100
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
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RamQuest

by RamQuest Software
RamQuest
Ramquest is a comprehensive solution for title and settlement professionals, supporting every aspect of title, closing and escrow operations. It offers document creation, title production, email automation, accounting and more. Businesses can streamline and monitor workflows from a dashboard while providing document storage and e-signing capabilities to simplify processes for clients and customers.
User Sentiment User satisfaction level icon: great
Cost Breakdown
$100 - $500
Company Size
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Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
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HotelKey

by HotelKey
HotelKey
Hotel Key is a cloud-based property management system designed to enhance everyday hotel operations. It offers PMS, CRS, RMS and POS integrations with hardware integration, automated STR integration and property administration. Additionally, it can track order management, product management, vendors and purchase management and policy management.Ease customer experience and enhance satisfaction with robust mobile applications. Facilitate digital check-ins, take orders and provide food services to guests. Manage groups with guided flows and a separate module with corporate rates and billing.
User Sentiment User satisfaction level icon: excellent
Cost Breakdown
$10 or less
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
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LeaseAccelerator

by LeaseAccelerator
LeaseAccelerator
LeaseAccelerator is a rising software application that ranks 32 among all Lease Management Software according to our research analysts and 2 crowd-sourced reviews from 2 sources. Starting from $45000.01, LeaseAccelerator is priced on the costly side and is most fitting for companies large and small. LeaseAccelerator can be deployed online. Similar alternatives to LeaseAccelerator include Yardi Voyager, Condo Manager and EyeSpy360.
User Sentiment User satisfaction level icon: excellent
Cost Breakdown
$1,000 or more
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
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Haven Connect

by Haven Connect
Haven Connect
Designed for property managers, Haven Connect helps streamline waitlist management. It offers process automation tools for making business operations more efficient and helps reduce administrative burdens. Applicants can access a centralized applicant communication portal and use unique filters. It also offers automation of waitlist updates, reminders and applicant removals in case of drop-offs.
User Sentiment User satisfaction level icon: excellent
Cost Breakdown
$10 or less
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
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Total Management

by Total Management
Total Management
Total management is a web-based solution helping managers consolidate all their processes. Businesses can manage residential, commercial and student-housing properties. It connects managers with tenants and prospects while streamlining work processes. It offers built-in payment and Common Area Maintenance (CAM) processors, tenant screening and e-leasing capabilities.
User Sentiment User satisfaction level icon: great
Cost Breakdown
$100 - $500
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
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Zenplace

by Zenplace
Zenplace
Zenplace offers landlords and institutional portfolio managers an intelligent rental management and leasing solution. It helps owners market their units, find suitable tenants, lease quickly and deliver consistent maintenance throughout the portfolio. Businesses can use AI, machine learning and adaptive algorithms to perform local market research, determine optimal rent amount, provide analytical predictions and more. It can handle both MSMEs as well as large enterprises.
User Sentiment User satisfaction level icon: great
Cost Breakdown
$10 - $100
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
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DoorLoop

by DoorLoop
DoorLoop
Doorloop is a cloud-based solution helping property managers and owners streamline their daily operations. It can handle every type of housing, including commercial, residential, affordable and community associations. Users can leverage individual communication portals, tenant screening, payment processors, maintenance modules and integrated accounting.Marketing capabilities help managers increase property visibility and schedule property showings. It facilitates unique integrations with an open API and is available in three pricing plans: Starter, Pro and Premium.
User Sentiment User satisfaction level icon: excellent
Cost Breakdown
$10 - $100
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
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EyeSpy360

by EyeSpy360
EyeSpy360
EyeSpy 360 is a platform that enables real estate professionals to create virtual tours, 3D models and floor plans with accurate measurements. Take 360-degree photos and videos with any device to create immersive virtual tours of properties and share across multiple channels. It offers live streaming, video calls and an analytics dashboard. It also supports fully integrated white labeling and bespoke pricing for big enterprises.
User Sentiment User satisfaction level icon: excellent
Cost Breakdown
$10 - $100
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
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Condo Manager

by Consultant Ingenium
Condo Manager
Designed for homeowners' associations, Condo Manager helps manage condominium communities and other types of self-managed associations. It consolidates management, communication and accounting processes. With automation tools, it helps streamline routinary management tasks and standardize interactions with residents, clients and team members. It offers a native payment processor and an accounting suite. Organizations can get digital notice boards, remote accounting services and mobile applications as optional modules.
User Sentiment User satisfaction level icon: great
Cost Breakdown
$100 - $500
Company Size
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Deployment
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Platform
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Buyer's Guide

Lease Management Software Is All About Centralizing and Analyzing Lease Data 

By Riddhiman Roy, Market Analyst at SelectHub

Lease Management Software BG Intro

Do you still manage, renew and terminate your rental leases by hand? Then, it’s time for you to consider the advantages of lease management software. It centralizes all your data, sends event-based notifications and makes your life much easier by automating repetitive tasks.

This guide discusses the primary benefits and features of lease management software, followed by the best software comparison and pricing strategies. We’ll also discuss some of the most popular platforms for your reference and leave you with a set of questions you can use to start conversations, both internally and with vendors. Let's dive in.

Executive Summary

  • Lease management software centralizes every lease, addendum, tenant insurance, owner information and other business documents for easy accessibility.
  • Some platforms offer analytics tools to compare business metrics with market standards and identify opportunities.
  • Its key features include a document library, categorization, equipment tracking, real-time alerts, accounting and reporting.
  • Before starting the selection process, it’s crucial to identify your requirements and create a budget.
What This Guide Covers:

What Is Lease Management Software?

Lease management or lease administration software is a platform for property managers and rental businesses to store lease documents, track rented assets, manage terminations and buyouts, and automate renewals. It sends real-time alerts to keep you on top of your lease activities and offers a centralized view of your rented assets.

Lease management solutions can store different types of data like:

  • Chat with prospects, tenants and lessees
  • Insurance information
  • Service level agreements
  • Documents
  • Payment due dates
  • Lease renewal, start and expiration dates

Also, you can identify high or underperforming assets, meet current lease accounting standards and analyze financials to identify opportunities.

Types of Lease Management Software

Lease Management Software Categories

Lease management software serves any type of industry that involves renting business assets for commercial or residential purposes. Some of the common types of lease management platforms are:

  • Commercial/Corporate: You can manage leases for commercial real estate like airports, shopping malls, office buildings and co-workspaces. It offers commercial property-specific features such as CAM reconciliation, automated renewals, utility consumption tracker, gross and net leasing, and more.
  • Tenant: This platform helps manage residential properties and tenant leases. Its offerings include tenant screening, application portals, contract agreements, expiration dates, tenant contact information and rental payment due dates. It can handle both single and multifamily properties.
  • Equipment: It’s designed for businesses renting out equipment and machinery. It usually comes equipped with asset tracking modules and GPS to monitor rented assets’ location and health and suggest preventive maintenance strategies.

Primary Benefits

Lease management solutions act as a supplement to property management systems. They offer a specific set of benefits for managers and owners who don’t need or don’t want to pay for comprehensive property management platforms.

Here, we’ll discuss some of the main benefits of implementing lease management software:

Benefits of Lease Management Software

Streamline Administration

You get a unified view of every leased asset and its lifecycle. Store leases, pet and vet documents, parking registrations, 1099 tax forms and more. You can also create and customize templates for generating leases, public disclosure forms, emails and more with a few clicks.

Centralize Leasing Data

Digitize every lease document and collect leasing data for your entire portfolio. With a profile and login credentials, anyone on your team can access, edit and manage leases from anywhere.

Advanced platforms offer business intelligence capabilities to capture, classify, recognize and export important information based on custom rules.

Ensure Accuracy

A human fallacy can result in errors, leading to lost sales and unrealized potential. Marc Betesh, the founder of Visual Lease, mentioned how failure to submit invoices within the stipulated time forfeited a tenant’s reimbursement rights and resulted in the loss of $500,000.

Lease management platforms help avoid such situations by identifying critical lease data and sending you reminders for due dates. It uses automation to reduce human touch points from administrative tasks and offers template libraries for quick and accurate lease generations.

Maintain Compliance

Lease management software plays a big role in solving one of the key challenges of the leasing industry, i.e., reporting expenses according to accounting standards. According to the new FASB ASC 842 standard update, businesses must report both capital and operating leases, making it more complicated to calculate and submit public disclosures.

The platform helps you ensure compliance by handling bulk calculations and reducing the risk of human error.

Key Features & Functionality

These are the essential features required for successful lease management software implementation:

Features of Lease Management Software

Document Library

Store and organize every business document in a cloud-based portal for easy access via any device.

Most platforms offer an updated template library for leases, ASC 842 reports, 1099 forms and more. You can design, distribute and eSign documents from anywhere.
Real-time Alerts

Set up alerts for business-specific triggers like rent fluctuations, changes in the consumer price index, late payments and more. You can also define rules for automated reminders to clients, tenants and stakeholders.
Groups and Categories

The system recognizes clauses and categorizes leases and documents based on custom rules. You can search for information whenever you want using tags and filters.
Equipment Tracking

Track rented equipment’s location and health using GPS, fuel tracking, routing, barcodes and more. Get real-time notifications and insights for preventive maintenance.

You can also check external fleet maintenance systems for extensive equipment tracking features.
Reporting and Analytics

Create property-specific visualizations and track performance and profitability from dashboards.

Enterprise platforms offer AI capabilities for analyzing raw data and offering insights and growth hacks.
Accounting

Most lease management solutions offer accounting suites to connect with bank accounts and record rents, utility bills and invoices.

You can integrate with third-party lease accounting software to prepare balance sheets with straight-line rent and comply with new FASB, IFRS and other US GAAP standards.

Software Comparison Strategy

The lease management software market size was $3.9 billion in 2021 and is expected to reach $6.1 billion by 2030 at a 5.7% CAGR. Due to this market growth, plenty of options are available, each with its unique features and target audience.

Market Size Lease Management Software

The best lease management software is less about the software itself and more about how it fits your business and helps streamline your operations. Prepare a personalized requirements checklist that considers the needs of all your departments and stakeholders. Otherwise, it becomes tough to sift through the sea of options available.

Here are a few things to consider while devising your requirements list:

  • Integrations: Look for systems with transparent developer documentation and accessible APIs to help you design custom integrations. Some useful connections include lease accounting software, property management software, BI, ERP and CRM.
  • Type of Assets: Depending on the size and type of your portfolio, choose software that can manage all your assets. For example, if you’re renting real estate, property management features would suffice. But for renting specialized equipment, you need a system that can track its health and suggest maintenance plans.
  • Team Members: Not all solutions support unlimited team onboarding. Look for software that can give access to your entire team and help you manage activities with HR tools.
  • Deployment: Most lease management solutions are cloud-based and available as SaaS. You pay a monthly subscription, access via any device and avoid hefty investments in IT infrastructure. But for an enterprise with multi-location properties, you may want an on-premise model — buy the software license and customize it to meet your business requirements.
  • Mobility: This is one of the key benefits that lets you track workflows from anywhere. The platform should be mobile-optimized or offer mobile apps for accessing the management and customer ends.

Cost & Pricing Considerations

Most SaaS lease management solutions are available on a per-lease, per-month basis. Costs can vary between $10 and $50 monthly. On the other hand, on-premise deployment requires a one-time investment along with maintenance and training costs.

Enterprise solutions can also charge you extra for:

  • Advanced features
  • Premium support options
  • Onboarding
  • Implementation support

We recommend preparing a budget and looking for software that offers all the required features within your budget. Make sure you ask plenty of questions to vendors to understand their pricing and avoid falling prey to hidden charges.

Most Popular Lease Management Software

To get you started on your quest for the ideal platform, we’ve listed overviews of some of the most popular lease management software in the market:

Innago

Innago is a free rental management software with a robust leasing module. You can design unlimited lease and document templates and reduce clutter by digitizing leases, addendums, tenant information, purchase receipts and more.

Tenants can eSign documents from anywhere using the native mobile app. It helps you handle online rent, tenant screening, insurance programs, maintenance tracking and marketing.

It’s ideal for single landlords and small managers who don’t want to pay an arm or a leg for software but wish to avail themselves of the benefits of digital property management.

Innago

Track KPIs and leasing operations from a dashboard.

Buildium

Buildium is an all-in-one real estate management software that can handle residential, commercial, student and affordable housing and community associations. It offers unlimited document storage, customizable templates, mobile-optimized eSignature portals and 1099 form-filling modules.

You can create individual tenant profiles, store leases and set up insurance programs. A powerful real estate accounting module helps you manage property and owner-specific accounts and automate bookkeeping.

Buildium

Track transactions, reconciliations and balance sheets using the native accounting module.

AppFolio

AppFolio is an all-encompassing solution that offers AI for smart automation and insights. A leasing assistant helps manage data entry, respond to lease queries 24/7 and schedule showings.

It provides unlimited document storage, guest cards, automated renewals, rent-comparison tools and website designing kits.

AppFolio

Manage marketing, leasing, accounting, maintenance, tenants and reporting via a unified platform.

 

 

Questions To Ask

You need to determine the unique needs of your stakeholders and department managers before selecting the lease management software. Use these questions to start a conversation internally and identify your requirements:

Lease Management Software Key Questions to Ask

  • Which areas of your lease management workflow need automation?
  • How many team members need onboarding?
  • What’s your preferred deployment option?
  • Which other software will need integration with the new system?
  • What’s your overall budget for software, additional features and support?

Use these questions to start a conversation with the vendor:

  • Can you scale and customize the solution?
  • Does it support mobile devices?
  • Can the software meet your marketing and integration requirements?
  • What kind of training and support are available?
  • How does the vendor protect customer data?

In Conclusion

Picking a lease management software is like going to a toy store as a 10-year-old. It’s easy to get swayed by flashy marketing, unique features and the number of options available. To find the right system, you need to identify your requirements and pick the option that imbibes itself in your workflow without hassle, reduces administrative tasks and simplifies leasing operations.

Hopefully, this guide can direct concerned professionals toward the best lease management solution for their business. Happy selecting!

About The Contributors

The following expert team members are responsible for creating, reviewing, and fact checking the accuracy of this content.

Riddhiman
By Riddhiman Roy
Technical Content Writer
As a Senior Technical Content Writer at SelectHub, Riddhiman Roy delivers content about eCommerce, legal, employee scheduling, procurement, hotel management and property management software. He holds a Master's in multimedia journalism from the Indian Institute of Journalism and New Media. When he is not fighting huge-article-ogres and evil Grammarly suggestions, you can find him in his natural habitat grooving to music and banging his drumkit.
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Shweta
Technical Research By Shweta Bhandari
Senior Analyst
In her role on SelectHub's research team, Shweta Bhandari works on categories like manufacturing, CMMS, construction ERP, takeoff software, supply chain management, field service, construction bidding software and construction estimation software.
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Kankana
Technical Review By Kankana Kalita
Principal Analyst
A seasoned business and research analyst, Kankana Kalita specializes in ERP, CMMS, manufacturing, construction, supply chain, HRMS and CRM. Prior to joining SelectHub, she earned a Bachelor's degree in Computer Science and Engineering, an MBA in Operations and Marketing, and worked in email marketing and logistics.
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Pooja
Edited By Pooja Verma
Content Editor
Pooja Verma is a Content Editor and Senior Market Analyst at SelectHub, who writes and edits content for endpoint security, legal, CRM, fundraising software, eCommerce, and mental health software. She earned a literature degree from Miranda House, DU and also holds Master’s in Journalism from Symbiosis Institute of Media and Communication in India. In her free time, you can spot her reading a book or binge-watching the latest web series and movies.
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