If you're in the market for property management software, you may have found that choosing one is not very easy.
The reason for this is that there are so many choices out there and each of them provides slightly different services.
The tough part is finding which one is best suited for your real estate business while also being the most cost-effective. This process can be extremely time-consuming but can also make property management exponentially easier.
In this guide, we will be reviewing three very powerful property management software choices. These choices include:
Each one of these is a very solid choice for a standalone property management solution, but only one is the best for you.
Below, we have explained how DoorLoop vs. Appfolio vs. Yardi stack up to each other and how you can make the most informed choice possible for your company.
Finding the Best Property Management Software
The first step in finding the best property management solution for you is to know exactly what you're looking for.
Some of the most important things to look for in your research include:
- The features that are offered
- How much you would be paying
- And how they stack up to their competitors
Finding the answers to all of these questions can really help you when making your decision
The goal is to, by the end of this guide, be more informed about how to make this important decision.
Also, be sure to stick around until the end of the guide as we will be presenting our top pick for the best all-around solution.
So, without further ado, let's get into the features that you would be investing in if you go with any of these choices.
Each one of the property management tools discussed in this guide offers some sort of integrated accounting suite. These tools are meant to completely replace any third-party accounting software that you may have, including QuickBooks.
The best part is that some even offer QuickBooks integration if you'd prefer to stay with your main solution.
The AppFolio property manager software hosts a comprehensive set of accounting tools, allowing you to do things like accept online payments, process electronic cash payments, billing, and invoicing.
The Appfolio accounting system also offers some convenient calculators that can be used to find specific financial values, like the late fee calculator.
Yardi provides a full accounting suite complete with all the tools you need to manage all of your property's financials. Some of the main functions of this accounting suite include managing payables, receivables, a full payment processing system, and the ability to generate income and expense reports.
The entire system may be confusing to figure out at times. This is why Yardi provides various online webinars, documentation videos, and guides to help users get through it.
DoorLoop also offers a robust set of accounting tools that grant property managers everything they need to manage all financial aspects of their business. Some of the features provided by DoorLoop include the ability to pay rent online, payments from bank and credit accounts, and a complete chart of accounts.
Also, DoorLoop conveniently integrates with QuickBooks, meaning you can continue to use your main solution along with DoorLoop.
A tenant portal is a feature that allows tenants and property managers to seamlessly communicate with their tenants regarding many things. This feature typically also allows tenants to check on their online leases from a user-friendly platform.
Also, since all of these are cloud-based platforms, all of the information stored in one place can be viewed and modified in any other place. This can save property managers tons of time as they do not have to worry about taking their information with them.
The Appfolio property manager offers access to a full tenant portal where tenants can make online payments and communicate directly with their property manager.
Yardi's tenant portal allows for a variety of features as well. Some of the features include paying rent and any fees or checking on their online lease statements.
DoorLoop's tenant portal offers a unique variety of features to the tenant as well as the property manager. Some of the features include a tenant debt collections feature, online maintenance requests, tenant screening, and many more.
All of these can be done from any web-based desktop(Windows desktop, Linux desktop, etc.) or even from an iPhone mobile device with the application.
One of the more important aspects of maintaining a healthy relationship between the property manager and the tenant is good communication. All of the choices discussed here provide solid features that allow for seamless communication between the tenant and the property manager.
Appfolio offers features that allow for quick and easy communication between the tenant and the property manager regarding things like maintenance requests. They also have community association features like event management and a dedicated calendar.
There is not much of a difference in terms of communication when it comes to Appfolio vs. Yardi as both provide basic communication services between the tenant and the property manager.
DoorLoop allows you to communicate with tenants through a variety of means, including SMS text messaging, email, and directly with tenants through maintenance orders, allowing for more diversity in communications methods while still keeping everything centralized.
When it comes to managing properties, taking care of maintenance requests can take up a lot of time. For this reason, each property management software has its own solution to save property managers tons of time.
Appfolio allows you to communicate with tenants on maintenance orders, create work orders, and assign them to vendors. Through this feature, you can even pay the vendor.
Again, there is not much of a difference when comparing the Appfolio property manager vs. Yardi property manager as both have a standard maintenance management system. With both of these systems, you can even track and update every step of the maintenance process.
DoorLoop makes maintenance management headaches a thing of the past by giving property managers access to:
- Create and edit maintenance requests with attachments
- Assign a vendor
- Communicate with tenants on that maintenance request
- Give them status updates
- and even pay out vendors when the job is done
With an owner portal, you can typically print checks for owners and also generate various reports. You can also do things like lease management and streamline owner communications as a whole.
With Appfolio's owner portal, you can do things like generate reports and print checks for the property owners.
Some of the tools that form Yardi's owner portal include a variety of calculators, quick and easy onboarding, and report generation.
DoorLoop gives your owners access to everything needed to keep them happy and informed. They can view and print reports such as their property’s balance sheet, income statements, and you can print checks directly from the app.
Now that we know all about the features that each software provides, it's time to move on to the dealbreaker - the price. For many people, the price of software is what dictates whether or not they will invest, as they may be on a tight budget.
Although the following pricing models may be somewhat similar, each one has its distinct differences as well.
Appfolio uses a standard per-unit pricing model that makes it easy to know exactly how much you will invest. The one unique aspect of their pricing model is that it is based on the property type.
The different types on Appfolio include:
- Residential Properties
- Commercial Properties
- Or Community Associations
Their basic residential plan starts at $1.40 per unit per month, with their Plus plan starting at $3 per unit per month. Their commercial and association plans range from $0.80 to $1.50 per unit per month.
Although these plans do not sound too pricey, each one comes with a required minimum monthly fee. All of these plans carry a minimum of $200, $300, and $450, respectively. This means that this software may only be suitable for mid-sized portfolios or larger ones.
One unique characteristic of Yardi Breeze that is not found on many property management software is that their pricing is based on the type of property. The different properties that full under different pricing plans are:
- Residential Properties
- Commercial Properties
- Affordable Housing
- Self Storage
- Manufactured Housing
With the regular Yardi Breeze plan, you can manage residential and commercial properties. For residential properties, the price starts at $1 per unit, per month, with a minimum of $100 per month. For commercial properties, the price is $2 per unit, per month, with a minimum of $200 per month on an annual plan.
However, if you have any other kind of property, you must pay for the upgraded plan, Yardi Breeze Premier. Affordable Housing for example starts at $3/unit/month with a $400 minimum per month, and based on an annual agreeement.
DoorLoop's starter plan starts at $49 per month for up to units, which is a little higher than Appfolio and Rent Manager. this supports various property types like residential, commercial, student housing, and many more. However, for the Pro and Premium Plans, you get a whole lot more features for a smaller price.
DoorLoop's Pro Plan comes in at $99 per month for up to 20 units and includes competitive features like:
- Owner Portal
- Bank Reconciliations
- Custome Websites
The Premium plan comes in at just $149 for up to 20 units and includes features such as:
- Gmail and Outlook add-on
- API access
- And website portal integration
With these features, you can keep track of every aspect of your business and more effectively market your properties to reduce vacancy.
Although all of these choices have their strengths and weaknesses, only one can be chosen as the best all-around property management software.
The software that we have chosen includes features like:
- Responsive Customer Service
- Stellar Accessibility
- Affordable Pricing
- Positive User Reviews
And this software is DoorLoop.
Apart from already-low pricing, you can get full access to a full set of features for an extremely reduced price.
Schedule a free demo with DoorLoop today to see what it can do for you!
Want to compare more property management software systems? Download this free whitepaper to get the inside scoop on the most popular picks!