The 10 Best Rental Property Management Software of 2023

Managing a portfolio of rental properties is like juggling a fruit salad; there’s too much in the air at one time, and it all needs to be handled simultaneously.

This is where rental property management software (and this guide) comes in.

On any given day, you could be doing any or multiple of the following:

• Collecting rent payments from several tenants
• Navigating multiple new maintenance requests
• Paying out vendors for previous ones
• Screening several applicants
• Completing some applications
• Sending a report to one of your owners
• Putting up the listing for a vacant unit

That’s a lot to deal with.

Sure, a team really helps with that. But so does technology. And while you want both, tech is (way) cheaper.

Below, we’ll talk a bit about what property management software can do for your business and how it can transform how you operate.

We’ll follow it up with a list of the 10 best rental property management software tools available, so you have great options to choose from.

First, let’s talk about what features you should be looking for in a great rental property management tool.

What features should you look for in rental property management software?

Not every rental property management tool is made equal (i.e., has the same features).

When deciding which software to choose, you should consider these factors:

• What features a particular software has
• Which features would be helpful to you
• Which features you need (i.e., the dealbreakers)

Depending on the software, you might only be getting the core features. Others offer additional features that can help you streamline and automate additional areas of your property management efforts.

Here are some features you should look for in good property management software:

1. Automatic rent payments and tenant portal

The #1 thing rental property management software does for you is make it easier to collect rent and communicate with tenants.

The bottom line is most important, and having software that facilitates faster, reliable, and semi-automated rent payments is invaluable.

Many property management software solutions offer a complete tenant portal where you can collect rent and communicate directly with tenants.

Tenants can then handle rent and additional responsibilities through the portal, such as pet rent, parking fees, and even maintenance requests.

Talk about efficiency.

Rent faster, more reliably, and with less work on your end? Perfect worlds do exist.

2. Manage maintenance orders

Following up with this person while putting in this order and replying to that vendor... Juggling work orders between tenants and vendors can be a pain.

Another major area that online rental property management software helps with is streamlining your work order system.

With most property management tools, you can perform a variety of tasks:

• Accept maintenance requests directly from tenants
• Create work orders and add attachments such as notes and images
• Assign that work order to a vendor
• Pay that vendor
• Communicate with tenants on that maintenance request for information and status updates

All your work orders are in one place, with one central communication tool that helps you simplify and streamline the entire process.

3. Applicant screening and online applications

The best rental property management software doesn’t just help simplify and even semi-automate rent collection and maintenance orders; it does the same to help you bring in new tenants.

Many property management tools offer these features:

• Online applications: Tenants can sign applications entirely online and process their application fees. You can view the status of those applications with a few clicks.
• Applicant screening: To make the entire entry process even easier, many tools allow applicants to also request their own background check while submitting their application and processing the payment.

4. Automatic vacancy listings

Need help earlier in the pipeline as well?

Vacant units are a missed opportunity and money that’s actively slipping through your fingers.

Fortunately, many rental management tools allow you to list vacant units on key property listing platforms automatically. No additional work is necessary.

That way, you have less downtime between tenants and can maximize cash flow.

The 10 best rental property management software [2023 edition]

Now that we’ve covered some of the key features in the average rental property management tool, let’s dive into the best software options available.

You’ll find a lot of options for rental property management software online.

The only problem is many don’t deliver on all of the features we listed above. And even if they do, some have horrible customer service or lack in another significant area.

That’s why we gathered a list of some of the best property management tools specifically designed to handle rental properties.

Here are 10 of the best options available in 2023:

1. DoorLoop

Want an all-in-one rental property management solution?

DoorLoop is the pick for you if you want these features and more:

• All the features mentioned above (and more)
• Stellar—and responsive—customer service
• A design with ease-of-use in mind
• Affordable pricing

DoorLoop is designed by property managers, for property managers. It was crafted with many of the common pain points of other property management software (i.e., slow and clunky UI and lousy customer service) in mind.

Whether you deal strictly in rental properties or have a mixed portfolio, DoorLoop can handle any type of property.

DoorLoop features

• Manage your entire property accounting in one place: DoorLoop offers automatic rent payments, custom reports, bank reconciliations, multiple payment methods, and integrations with popular accounting software like QuickBooks.
• Give residents access to a convenient tenant portal: Collect rent, communicate with tenants, and even allow tenants to submit maintenance requests themselves directly within the app.
• Streamline your work order management: After tenants submit their maintenance request within the app, you can create the work order, attach notes and images, assign it to a vendor, pay that vendor, and communicate with the tenant every step of the way.
• Grant property owners access to their own portal: Print checks, run reports, and more to maintain transparency with your property owners.
• Make your marketing and screening easy: Automatically list vacant units on top sites, screen tenants, and run background checks, all within the app.
• Benefit from much more: DoorLoop has a plethora of other features to give your property management business a competitive edge in the industry.

DoorLoop pricing

The most significant variance within the property management software space is easily price. Some are affordable, while others are way outside the average budget.

Fortunately, DoorLoop has you covered.

DoorLoop pricing starts at just $49 per month when billed annually for up to 20 properties. Schedule a free demo today!

2. Rentroom

Rentroom is a complete property management solution that boasts good accounting features and an intuitive interface.

The software also has some unique community features, making it a decent option for condos, multi-family, and HOA properties.

Rentroom’s accounting reports are limited, though. If that’s a key feature for you, this might not be the best option.

Rentroom features

• Online rent collection and payment reminders
• Other basic accounting features such as cash reconciliation
• Tenant portal
• Maintenance management

Rentroom Pricing

Rentroom's pricing starts at $49.99 for up to 15 tenants. If you have more properties or need more features, you'll have to upgrade.

3. Landlord Studio

Landlord Studio is a property management software that offers desktop and convenient iOS and Android app versions.

Unique features include a clean and modern UI as well as solid accounting tools.

However, beyond its accounting features, Landlord Studio can feel a bit lacking compared to other tools on this list.

Landlord Studio features

• Robust accounting features like rent and expense tracking and reporting
• Tenant screening
• Clean UI

Landlord Studio pricing

Landlord Studio uses a monthly pricing model with an additional cost per unit. Their Pro plan is $12 per month for 3 units, with each additional unit after the first being $1 per unit per month.

4. Rent Manager

Similar to Landlord Studio, Rent Manager offers a clean desktop and app version.

However, where Rent Manager differs is in its relatively expansive feature set.

Rent Manager easily has one of the longest lists of features of the software mentioned here, but its UI is known for being a bit clunky. Its pricing isn’t transparent either.

Rent Manager features

• Accounting features such as online rent payments and reporting
• Owner portal
• Vendor payments
• QuickBooks integration

Rent Manager pricing

Rent Manager’s pricing model is complex, to say the least. They use two pricing models: per unit and per month. It then has pricing tiers for each of its multiple software versions as well as monthly minimums.

For example, the Basic plan starts at $1 per unit per month with a $200 monthly minimum.

5. Propertyware

Propertyware is another rental management software with strong accounting features, such as custom reporting and automatic payment reminders.

If you’re particularly interested in strong accounting report capabilities, Propertyware is worth considering. It has some of the best accounting features on this list.

The big drawback is that Propertyware is designed for more extensive portfolios above 250 units, so pricing is high.

Propertyware features

• Strong accounting features and comprehensive reports
• Maintenance order management
• Owner portal
• Tenant communications

Propertyware pricing

As opposed to the common per unit, per month mode, Propertyware uses a strictly per unit model that is anchored by a monthly minimum.

Its basic plan is $1 per unit per month with a $250 minimum, making it pricey compared to most of the options on this list.

In addition to the monthly fee, there is an additional onboarding fee equal to x2 your monthly payment ($500 if you’re paying the $250 monthly minimum).

6. Hemlane

Hemlane has several unique features that make it stand apart from many of the tools on this list.

Features include an agent match service that can connect you with local agents for showings. There are other leasing tools as well.

The trade-off is that Hemlane is one of the priciest options on the list, depending on how many units you have.

Hemlane features

• Leasing tools such as tenant screening
• Unique local support features such as agent match
• Maintenance management
• Online rent payments

Hemlane pricing

Hemlane has a relatively straightforward pricing model, though it can be a bit on the pricey side.

Its Basic plan starts at $30 per month with $2 per unit per month after the first unit. In other words, if you have 20 properties, you’d pay $70 per month.

Its premium-level Complete plan starts at $60 per month and a whopping $32 per property per month for every property after the first.

7. TenantCloud

TenantCloud is one of the more affordable options on this list.

What’s the trade-off? TenantCloud as a whole offers a limited number and scope of features compared to most other property management tools.

TenandCloud features

• Basic accounting features like online rent payments and reports
• Work order management
• Vendor payments

TenantCloud pricing

TenantCloud's basic Starter plan starts at $15 per moth. If you need more features, you can upgrade to its Growth or Business plan. The Growth plan costs $50 per month. You'll have to contact the company directly for pricing on the Business plan, though.

8. Rentmoji

Rentmoji is another great rental property management software with both a convenient desktop and mobile app version.

With Rentmoji, you get a clean UI that’s easy to navigate, along with a long list of valuable integrations like QuickBooks.

The only negative is the price tag, with Rentmoji coming in with a higher cost than most options on this list despite having mostly similar features.

Rentmoji features

• Tenant communication tools
• Lots of integrations
• Maintenance management
• Accounting tools like automatic rent payments

Rentmoji pricing

Rentmoji doesn’t list its pricing publicly, so you’ll need to contact the sales team directly to find out more.

9. Rentec Direct

Rentec Direct is a property management software solution with a nice balance of features, such as work order management, tenant screening, and a mobile app.

The software has a few bright spots, including robust reporting features as well as lead tracking.

The trade-off for being an established solution with lots of features, though, is that users report the UI feels a bit clunky and dated.

Rentec Direct features

• Robust reporting
• Maintenance management
• Tenant portal with SMS communication
• Mobile app

Rentec Direct pricing

Rentec Direct’s starter plan is reasonable, though many will find the basic unit maximums limiting.

The basic plan comes in at $45 per month for up to 10 units, $65 for 50 units, and up to $550 for 500 units.

10. Landlordy

Landlordy is a unique option in that it’s iPhone-specific. If you’re just looking for a simple solution that mainly helps you track rent payments and send invoices, this could be a good fit.

However, keep in mind that you’ll be losing out on the more premium features that many of the other options on this list offer, like a tenant portal, owner portal, and maintenance management.

It’s also important to consider that it currently only offers an iOS version—no Android.

Landlordy features

• iPhone integrations like SMS messaging
• Payment reminders
• Basic accounting features like rent and expense tracking
• iPhone app (no Android)

Landlordy pricing

Landlordy offers a free plan for up to one property and tenant lease. The starter plan is $14.99 per month with some additional features, such as data backup. However, it only allows you to manage up to two units. If you have a bigger portfolio, you'll have to upgrade.

Try the best-rated property management software

Sifting through the sea of options can make it hard to choose which rental property management tool you go with.

You can jump in now and see why DoorLoop is known for its ease-of-use and responsive customer service while getting all features you need to take your property management efforts to a whole new level.

Get started with DoorLoop’s complete rental property management software today.