The task of searching for the perfect property management software for your business is not easy for real estate professionals.
There are a plethora of things that you must search for throughout this process, many of which can be a headache to find.
Also, since this kind of software can save you and your business so much time, it is vital that you really put the time into searching for the right one. Whether it be to streamline your business or make operations more efficient, property management software is sure to transform how your business runs.
In this property management software comparison, we will be reviewing three very powerful and very popular choices in the real estate industry. The choices are:
- Yardi Voyager
Although all of these choices are good at what they do, only one is good enough for your business.
Below, we have outlined the most important aspects of each of these choices and how they can be useful to your business.
Make sure to stick around until the end as we will be revealing our top pick for the best all-around rental property management software.
Finding the Best Property Management Software
The very first step in finding the best property management software is to pinpoint exactly what you are looking for.
Some of the most important things that you should be considering when searching for the perfect property management software products include:
- Features (such as owner and tenant portals, online rent collection, expense tracking, accounting software integration, and features that allow you to track maintenance requests)
Once you have these three aspects of any software well-researched, you should be able to specify which one is the best choice for your business.
In this article, we will be discussing these characteristics to see how Buildium vs. Yardi vs. DoorLoop stack up to each other. And, in the end, we will give our top choice.
So, to begin, let's go over some of the features that you would be getting if you go with one of these choices.
One of the most important aspects of any property management software is the accounting suite that it offers. A good accounting suite is capable of rendering any third-party financial software useless. This makes it extremely important to find property management software that has a robust set of accounting tools.
With Buildium, you will be granted access to a multitude of accounting features, such as online rent payments, various payment methods, payment tracking, and bank reconciliation.
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 systems provide various online webinars, documentation videos, and guides to help users get through it.
DoorLoop offers a very robust set of accounting tools that grant property managers to manage all financial aspects of their company. Some features include the ability to pay rent online, functionality for tracking income, and the generation of professional online documents. DoorLoop has the best tools to even manage advanced setups
Also, DoorLoop conveniently integrates with QuickBooks, meaning you will not have to stop using your main solution.
A tenant portal is a very useful feature that streamlines communication between the tenants and the property managers. This is an essential feature for managing rental properties as it maintains a healthy relationship between both parties and increases customer satisfaction.
From within Buildium’s “resident center,” tenants can pay rent, association and other fees, and view payment history.
Tenants can also submit maintenance requests themselves and even attach photos via their smartphones. Then, they can follow that maintenance request as it’s assigned to a vendor and track it from beginning to completion.
Yardi Voyager also provides many useful features to keep their typical customers happy in a quick and efficient way.
DoorLoop offers a convenient tenant portal where you can do everything from accepting rent payments and late fees online to accepting maintenance requests, communicating directly with tenants directly from the app, viewing payment history, and more.
All of this can be done from any web-based desktop (Windows desktop or Mac desktop), making it very easy and accessible.
Another useful feature that comes standard with most property management software is some sort of communication aspect. These features allow easy communication between all the different parties including property managers, property owners, and tenants.
Buildium offers similar communication features, including bulk emails to tenants as well as a physical letter service with EZMail.
Yardi Voyager also provides valuable communication features that allow for quick and easy communication between the tenant and the property manager.
DoorLoop's property management software offers features to quickly and easily communicate directly with tenants. You send any information via email or SMS text messaging services. This means that you are not tied to only one method of communication with DoorLoop.
An essential aspect of successfully managing rental properties is keeping up with the maintenance of them. With good property management software, you can always manage maintenance requests needed on any of your rental properties.
In Buildium, you can create work orders, attach videos and documents, and send them to vendors, all from your smartphone or desktop. You can also get status updates for those work orders sent to your smartphone.
And when orders are complete, you can pay vendors from right within the Buildium app, allowing you to keep everything in one convenient place.
Yardi Voyager's maintenance management features are pretty similar to Buildium's, including an automatic system for scheduling maintenance and the ability to pay vendors directly from the platform.
DoorLoop allows tenants to send in maintenance requests from the app and you to edit those work orders, assign them to vendors, get status requests, and even pay your vendors once the job is done, all from the app.
An owner portal, similar to a tenant portal, is a convenient feature that allows for seamless communication between the property managers and the owners.
Buildium offers many reporting features, giving owners access to a wide collection of reports and allowing them to print checks.
Some of the tools that form Yardi Voyager's owner portal include a variety of calculators, quick and easy onboarding, and report generation.
With DoorLoop, you can grant owners access to a variety of reports as well as print checks directly from the app.
Now that we know all about the features that these selections provide, let's find out more about how much you would have to pay in order to gain access to them.
Buildium's pricing model, much like several property management software, is based on the features that you want. Their entire software is split up into three plans, from the cheapest one to the most expensive one: Essential, Growth, Premium.
The Essential plan starts at $52 per month and offers a 12-day free trial. The Growth plan starts at $166 per month which is considerably higher than the starter. Finally, the Premium plan starts at $479 per month which is an extreme jump from the other plans.
Yardi Voyager Pricing
Yardi Voyager's pricing model is quite different, in that it is not publicly listed. In order to find out about this software's pricing, you must directly contact the company and speak with the sales team.
DoorLoop’s Pro plan comes in at $99 per month up to 20 units and includes features such as:
- Owner portal
- Bank reconciliations
- And custom website
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
This pricing is ideal for either mixed portfolios or large enterprises because the savings only add up as you have more units.
If pricing is one of the things that you are most strict on, you have come to the right place.
Schedule a free demo today to see what DoorLoop can do for you.
Although all of these choices are very solid and provide loads of functionality, only one can be chosen as the best.
The software that we are choosing includes:
- Exceptional customer support
- Superb user reviews from real users
- Affordable pricing
- Extremely user-friendly platform
And the obvious choice is: DoorLoop.
Want to compare more property management software systems? Download this free whitepaper to get the inside scoop on the most popular picks!