Finding the perfect property management software for your business is not a very easy task.
There is tons of research that needs to be done before investing in any property management software. Some of the things that you must keep in mind when doing research are the features, the accessibility, and most importantly, the price.
Even then, there are many choices that offer similar sets of features and are even priced similarly. At this point, it can get really tricky. In order to make this decision, you need to consider the most immediate needs of your property management company.
In this guide, we will be going over three prominent choices of the real estate industry:
- MRI Commercial
- Yardi Voyager
All of these are very solid choices and are sure to transform the way that your business runs and operates. But, there is only one that is best for you.
Below, we have outlined how DoorLoop vs. MRI Commerical vs. Yardi Voyager stack up against each other. You will also be able to discover which one of these choices is the best pick for your business.
Finding the Best Property Management Software
The first step in finding the best property management software is knowing exactly what you are looking for.
Some of the most essential things that you should be considering when looking through your choices are:
- The features it provides
- How much it is going to cost
- How they compare to competitors
Once you have the answers to these questions laid out, it becomes much easier to determine which software is the best for you.
By the end of this guide, you should have a much better idea of which software is the best for you and your property management business.
Also, it is important that you stick around until the end of the guide because we will be revealing our top pick for the best all-around software.
So, to begin, let's get into the features that each one of these choices provides.
MRI Commercial vs. Yardi Voyager vs. DoorLoop: Features
One of the most important aspects of property management software that is most useful to property managers is its integrated accounting suite. This accounting suite is meant to be a set of tools that renders other financial software unnecessary.
MRI Commercial Management includes a wide variety of accounting tools. Some of the tools that are included in the MRI Commercial management software include the ability to run custom reporting, manage accounts payable and receivables, and general ledger.
Yardi Voyager also provides a full set of accounting tools, complete with everything you will need to manage your company's financials. The features are similar to those of MRI Commercial, including a fully integrated system to accept online payments.
Although this accounting suite may be difficult to navigate, Yardi provides a variety of training, documentation, webinars, and many more things to help along the way.
DoorLoop offers a very robust set of accounting tools that grant property managers to manage all financial aspects of their business. 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 unique and powerful feature that provides much functionality to the tenant and the property manager.
Some of the features that are typical of a tenant portal include the ability to monitor tenant balances, communicate back and forth, and send maintenance requests.
The MRI Software offers a tenant portal in the form of a feature called Tenant Connect. This feature allows tenants to communicate back and forth with the property manager or owner, provides online sales tools, and increases tenant satisfaction.
Yardi's tenant portal provides various features as well. Some of the features include rent tracking, late fee calculation, and tracking retail leases.
DoorLoop's tenant portal offers a unique variety of features to the tenant and to the property manager as well. Some of the features include debt collection, online maintenance requests, tenant screening, and much more.
A very important aspect when it comes to managing rental properties, especially residential and association properties, is good communication. It is vital to maintain healthy communication amongst all parties in order to keep up tenant satisfaction.
MRI Commercial offers a very convenient and automated tenant communication system that allows for seamless communication between the property managers and the tenants. You can even send voice recordings automatically for things like rent reminders or maintenance request updates.
These features are mostly found in the MRI residential management software as that is where it is most used.
Yardi Voyager also provides valuable communication features that allow for quick and easy communication 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.
This means that you can provide your tenants with personal assistance any time that there is an issue or a concern.
Taking care of maintenance requests is a major part of managing rental properties as it is the only way that you can make sure that your properties are always in good shape and condition.
MRI Commercial offers a facilities management service that allows users to completely manage maintenance requests. This feature also offers functionality to track all stages of maintenance and generate reports on them.
Yardi Voyager's maintenance management system is very similar to that of MRI Commercial as they both offer the standard maintenance request system that allows you to manage multiple requests at the same time.
DoorLoop makes maintenance management something very simple by giving property managers access to a plethora of features. Some of the features include automatic maintenance requests, vendor management, complete control over the service, and real-time data that generates request receipts.
The owner portal is a feature common in property management software that grants owners access to various reports and lease management. You can also streamline communication among owners with this feature.
MRI Commercial offers an owner portal where users can manage all of their accounts and monitor rental income.
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.
DoorLoop's owner portal also gives users access to online marketing where they can list their residential properties and their commercial properties to reduce vacancy. This statistic can be tracked with the vacancy tracking feature of the owner portal.
Now that we know all about some of the features that are offered by these choices, let's learn more about how much these features are going to cost you.
An unfortunate aspect of MRI Commercial's pricing is that it is not listed directly on the website. This means that users must contact the company to find out more about how much they will be paying based on their property portfolios and the features they desire.
Yardi Voyager's pricing is directly listed on their website but comes with an interesting twist. The price that you will be paying for the software is based on what kind of property you will be managing.
Some of the different properties that can be managed using Yardi Voyager include:
- Residential Properties
- Commercial Properties
- Manufactured Housing
...and many more.
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. This means that for each plan, you must have a minimum of 100 properties.
However, if you have any other kind of property, you must pay for the upgraded plan, Yardi Breeze Premier. The plan for each property type with Yardi Breeze starts at $1 per unit with Breeze Premier but goes up to $3 per unit with a $400 minimum.
If pricing is important to you, DoorLoop has got you covered.
DoorLoop's Pro plan comes in at $69 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 $109 for up to 20 units and includes features such as:
- Gmail and Outlook add-on
- API access
- And website portal integration
And the best part is that DoorLoop is offering all of these features for 50% off until January 1st, 2022. This means that you can gain access to the whole set of features offered by DoorLoop at an extremely reduced price.
Want to schedule a demo of the software?
Visit DoorLoop to create an account and get started with your demo today.
After carefully looking over these choices, there is only one that can be chosen as the best all-around software based on user reviews and ratings.
This software provides:
- Award-winning support for their customers
- Very easy-to-use interfaces
- Affordable pricing
- Robust set of features
The suggested software here is: DoorLoop.
Want to get started with DoorLoop?
You can get full access to DoorLoop's features for 50% off your first two months. That means that you can get a full set of features for an extremely reduced price.
Get started today for 50% off, starting at $24.50 for your very first unit. Visit DoorLoop to get started with a free demo.