10 Best Multifamily Property Management Software of 2024

Ever tried to listen to an audiobook while paying attention to a meeting and answering complex math at the same time?

If you’ve managed rental properties for a while, you know that it can sometimes feel like that.

You need to juggle multiple duties simultaneously: office manager, maintenance manager, communications, and accountant.

Whether you’re doing that by yourself or even with a team, it’s a lot to handle.

Even worse, if those systems aren’t connected and able to communicate with one another, everything works inefficiently.

Maintenance requests come in from multiple sources, rent is late and needs to be tracked down, and tenants aren’t happy because their requests aren’t being fulfilled as fast as they’d like.

Fortunately, there’s multifamily property management software specifically designed for this kind of thing.

What exactly does it do for you? Let’s talk about it.

What Does Property Management Software Do?

A great property management software solution does a lot of things:

• Allow you to centralize communication with tenants into one place
• Manage all your accounting with features that are custom-built for property management (instead of those annoying QuickBooks workarounds)
• Streamline the screening and leasing process with tenants
• Simplify maintenance management with a central location to track jobs, assign tasks to vendors, and communicate with tenants

And that’s just the beginning.

Whether you’re a landlord struggling to manage your properties on your own, or a team looking to improve your process and take on more properties, property management software built for multifamily homes can help you.

That leads us to the next question:

What Is the Best Property Management Software to Choose?

Now that you have a better idea of what multifamily property management software can do for you, the next question is:

Which one is best for you?

Below, we’ll take you through what we believe are 10 of the best multifamily property management software solutions of 2024.

As you read through, consider these points:

• Is it easy to use?
• Does it fit my budget?
• Does it have the features that I need?

With these three points in mind, you’ll have a much better idea of whether a particular option is a good fit for you or not.

Great ease of use, competitive pricing, and a robust feature set. It’s these points that we had in mind when we first set out to create DoorLoop, the software designed by property managers, for property managers.

More on what DoorLoop can do for your business later, though (or just jump to #10).

For now, let’s look at some of the best multifamily property management software options available.

10 Best Multifamily Property Management Software of 2024

Below are 10 of the best multifamily property management software for 2024:

1. RealPage

RealPage is a property management solution that is a good option for anyone who is mainly interested in something simple and easy to use.

If complicated software with a ton of features and a convoluted UI doesn’t sound like your cup of tea, RealPage delivers a fairly streamlined solution.

However, despite RealPage's ease of use, users often report issues related to quirky accounting settings that can cause headaches.

Features include:

• Maintenance management
• Reporting
• Reminders
• Tenant portal
• Budgeting

RealPage Pricing

RealPage's pricing is based on square footage. For example, it costs $12.50 per month per 10,000 square feet for office and retail assets and $7.30 per month per 10,000 square feet for industrial assets.

2. LeaseHawk

LeaseHawk is a unique option on this list, as it offers fewer general management features and instead focuses more on automating the leasing process.

It uses several AI-based programs to automate processes, such as a chatbot to automatically collect guest information and follow up with them.

The main drawback is that you’ll be giving up other highly valuable features that LeaseHawk doesn't offer, such as maintenance management and more in-depth accounting features.

Features include:

• AI chatbot
• Automated follow-ups
• Basic accounting features
• Robust leasing and onboarding features

LeaseHawk Pricing

LeaseHawk doesn’t list its pricing directly on its website, so you’ll need to sign up for a demo to talk with a salesperson and find out more.

3. Entrata

Entrata is a mostly cloud-based property management solution that includes a good balance of features, including accounting and maintenance management.

Convenience is the word that comes to mind with Entrata, as the software is designed so that everything feels easy to get to.

However, users report that when issues arise, fixes are slow to come, impairing their ability to fully use the software.

Features include:

• Maintenance management
• Basic accounting features, such as invoice creation and bank reconciliations
• Lead generation tools

Entrata Pricing

Entrata doesn’t list its pricing model online, but the company does offer a way of signing up for a free demo. So, you’ll need to get in touch with a salesperson to learn more about the software's pricing model.

4. ResMan

ResMan is a great property management software that has handy features like the ability to post late notices via tenants' dashboards.

Despite ResMan billing itself as a full-featured software option, however, users report running into limitations in what it can do compared to other solutions. Some features are gated behind higher pricing tiers as well.

Features include:

• Lease management tools
• Online rent payments
• Late fee calculator and notification features

ResMan Pricing

Like many on this list, ResMan doesn’t list its pricing online, so you’ll need to talk to a sales representatives to find out more.

5. MRI Living

MRI Living, the multifamily option from property management software provider MRI, is particularly robust in its feature set.

As with all of MRI’s offerings, MRI Living pulls from its extensive feature set to deliver virtually everything you’d ever want. However, its interface is known for being dated and hard to use, and pricing is high.

Features include:

• Online rent payments
• Leasing templates
• Maintenance management

MRI Living Pricing

MRI Living doesn’t list its pricing publicly, it does offer a way to set up a free demo to get more information from a representative.

6. Yardi Voyager

Yardi Voyager is the multifamily-specific offering from software provider Yardi. As one might expect, it has a robust set of features, being able to pull from their other tools.

Users report that Yardi Voyager has an intuitive, easy-to-use interface. However, there's no app version, which really limits its ease of use.

The software's monthly minimum also makes it less affordable than other options on this list.

Features include:

• Robust accounting features
• Maintenance management
• Tenant portal

Yardi Voyager Pricing

Yardi has a somewhat confusing pricing model that is based on the property type. While the prices for Yardi Breeze are easy to find online, those for Voyager are less so. You'll have to contact a sales representative for more info on the software's cost for your multifamily properties.

7. Rentec Direct

Rentec Direct is another good multifamily-equipped option with a complete set of features that will leave you wanting for nothing.

The main qualm with users, however, is that the UI feels a bit dated and less intuitive than other options.

Features include:

• Online rent payments
• Owner portal
• Leasing tools such as tenant screening

Rentec Direct Pricing

Rentec Direct’s basic Pro plan starts at just $45 per month, though it only covers up to 10 units.

However, Rentec Direct doesn’t use a per unit, per month model. Instead, price increases in tiers, with 50 units moving your monthly payment up to $65. Having 100 units costs $110, and 500 units is $550.

8. Rent Manager

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Rent Manager has a balanced set of features similar to Rentec Direct, though with a somewhat dated UI compared to more modern options on this list.

However, despite this, Rentec Direct has multiple accessibility options, such as a cloud-based, desktop, and smartphone app versions of the software.

Features include:

• Robust reporting
• Online rent payments
• Owner portal
• Integrations with most major accounting tools

Rent Manager Pricing

Rent Manager starts at $1 per unit per month for the basic plan but has a $200 monthly minimum. Its upgraded plan costs $1.50 per unit per month with a $300 monthly minimum.

9. AppFolio

AppFolio is another option with a comprehensive set of features that do just about everything.

Its UI is clean, though it can be overwhelming navigating all the various areas and selections at first, and there is no easy way to get the hang of things. It also comes in as one of the more expensive options on this list.

Features include:

• Maintenance management
• Reporting and other accounting tools
• Automated late fees

AppFolio Pricing

AppFolio uses the standard per unit, per month model but with a monthly minimum—and that minimum is high. The starting minimum is $280 monthly and $1.40 per unit thereafter, depending on the type of property.

10. DoorLoop

DoorLoop is a robust all-in-one property management solution built to perfectly handle the needs of multifamily properties.

Ease of use, simple and straightforward design, and great documentation features help you get started. The rest of its deep feature set gives you everything you could want in a property management tool.

Features include:

• Automated rent collection with multiple convenient payment options
• Full-featured CRM with a tenant portal that makes communicating and working with your tenants easier than ever
• Marketing tools, such as automatic listings
• Leasing tools, including digital eLeasing, tenant screening, and more
• Accounting suite purpose-built for property management, including everything from a full chart of accounts to bank reconciliations
• A complete maintenance management system that allows tenants to create maintenance requests that get sent straight to the app and you to send orders to vendors, pay your vendors, and communicate with tenants all from one central location
• And more

Let DoorLoop Help You Find Peace of Mind with Easier Property Management

Managing multifamily properties demands a certain set of tools that can make the job (and your life) a whole lot easier.

We hope the list above helps you move one step closer to getting the tools you need to find some peace of mind (and a little relief) from the chaos that managing multiple properties can often be.

So, consider investing in property management software if you're looking for something that can help you do any or all of the following: 

• Manage the chaos
• Up your property management game
• Become more productive (whether by yourself or in a team)

And if you’re still unsure about how much it can help you, schedule a free demo with DoorLoop today!

We’re confident you’ll get so much value that you’ll find it difficult to remember how you ever got by without it.