Property Management Company Software Recommendation
I am looking to launch a property management company and am looking for a software recommendation. I see that Buildium is one option. It seems pricey ($160 per month for 50 units and goes up from there) but it could be okay if it really checks all the boxes. I'm wondering what other property managers use, any headaches you face with it , and if you have experience with multiple software, which one do you prefer? Also see another one called Yardi. From the outside, both seem very similar.
For additional context, between a few friends, we have ~30-50 long-term rental units that would make up the initial clients. After that, we'd hope to grow as our friends continue to buy new units and more importantly by finding additional investors who'd like their units managed. From a software perspective, I'd like to use software that would support our growth through ~500 units and beyond if possible.
You should check out the "tools" section of our navigation - we have many property management software companies there to choose from.
One to consider (full disclosure - a BP sponsor) is RentRedi. I'm sure others will chime in here as well!
I'm an Appfolio shop. If you have ambitions to 500 get active in NARPM as soon as possible. Rentvine, and Rent Manager are others I know people use besides Buildium.
#2 Managing Your Property Contributor
- Property Manager
- Royal Oak, MI
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#2 Managing Your Property Contributor
- Property Manager
- Royal Oak, MI
@Nikhil Agarwal We use Propertyware, have also played with RentManager.
You'll find every program has it pros and cons.
So, it really boils down to how you plan to use the software.
We use Propertyware as it's one of the most customizable ones on the market.
RentManager is also very customizable, but is not user-friendly
Appfolio is easier to use, but not very customizable.
Buildium is also easy to use, not customizable and doesn't have the features of Propertyware, Appfolio or RentManager.
There are many more options now, but who knows how long they will be in business?
FYI - changing software is NOT easy! You lose a lot of data and everything but the basics needs to be manually keyed in. Not a big deal for 50 units, but it is for 500!
