Best Property Management Software for Small Landlords for 2024

As a real estate investor or property manager with a small portfolio, it can be easy to fall into the trap of managing your properties manually. You know, the good ol’ Excel spreadsheet. Even if you’re managing a few properties, there are better solutions available.

Here's a 2024 list of the best property management software for small landlords. Being that you're a small landlord, we categorized the software into a few categories:

• Best Free Plan
• Best for Affordability
• Best for Custom Reporting
• Best All-Around Choice
• Frequently Asked Questions

To be considered, the software has to offer:

• Demo or free trial - Small landlords have the opportunity to "try before they buy," allowing you to experience firsthand how the software performs in real-world scenarios. This trial ensures that the software not only meets your operational needs but also integrates seamlessly with your existing technology stack
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• Affordable pricing - you may be working with a limited budgets, making affordable pricing essential. You want software that provides excellent value for the money, ideally featuring customizable pricing plans that can adapt to your evolving needs.
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• At least a 4-star rating from reputable sites - The software received high ratings from reputable review platforms such as Capterra, Software Advice, and app stores, indicating strong user satisfaction and credibility. Positive reviews reflect effectiveness and reliability, making it a trusted choice.
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• Ease of use - The software should feature an intuitive user interface that is straightforward to learn and navigate, reducing the time required for training and adaptation.
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• Features & integration capabilities - The software boasts a robust suite of features and offers extensive integration capabilities, allowing you to seamlessly connect with other essential tools and services. This functionality enhances operational efficiency and provides a comprehensive, all-in-one solution for managing rental properties.
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• Scalability - you may aim to expand your property portfolio, so, it's beneficial to choose software that scales easily. Such software should accommodate additional properties or various types of properties without significantly increasing costs or complexity.

The Need for Property Management Software

Smaller landlords, or those with between one and 10 rental properties, have different missions depending on their goals. Some want to grow their portfolio fast, while others want to manage their existing rentals via a single solution. They all want to provide convenience to their tenants while cutting down on time-busting manual tasks.

These goals are achievable with today’s best property management software for small landlords. Whether you aim for growth or efficiency, automation can drastically reduce the time spent managing properties, allowing you to focus on what you love.

Key Features to Look for in Property Management Software

• Tenant Screening: Finding the right tenant is paramount. A bad tenant can financially devastate a landlord. The best property management software allows you to collect applications and fees online and run background checks on potential tenants via integrated services, ensuring you find the best tenants without jumping through hoops.
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• Online Rent Collection: Manual rent collection is tedious and error-prone. Online rent collection enables tenants to pay rent conveniently from anywhere, with features like auto payments, late fee enforcement, payment reminders, and automatic rent receipts.
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• Maintenance Request Management: Managing maintenance requests can be challenging. A maintenance request management system organizes requests, pictures, and contacts, and taps into a network of vetted contractors, eliminating the costly overhead of a property management company.
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• Lease Agreement Creation and Management: Lease agreements outline the rules and requirements for landlords and tenants. The best software quickly builds leases for any state or lease term length, with digital signing and storage, ensuring compliance with rental laws.
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• Financial Reporting: Keeping track of rent payments, expenses, and financial health can be overwhelming. Comprehensive financial reporting features in the software provide a clear picture of your financial situation, consolidating all financial aspects in one place.
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• Continuing Education and Community: Real estate investing requires continual learning. Software companies that offer educational content and community support ensure you stay informed and well-supported, regardless of your property portfolio size.

Best Free Plan

Several property management tools offer a free demo or, in some cases, a 100% free property management software. While a free plan sounds like a great starting point, the options below do tend to be limited in terms of features. However, if you don’t have the budget to spend right now on software, these could be a good way to get your feet wet.

Avail

Avail is a good option that has a more comprehensive feature set for the property management process.

Avail offers a free plan with an unlimited number of units. If you want to get many of their more valuable features, it will cost you $7 per unit per month. Their Unlimited Plus paid plan is pricey, even compared to some of the higher-end options on this list.

One of Avail's advantages is that it has a decent UI that’s easy to maneuver. It can be challenging to get started, because Avail doesn’t offer many tutorials or a competent knowledge base for learning how the software works.

Features include:

• Online rent payments
• Work order management
• Tenant screening
• Automatic listings

Avail pricing

Landlordy

If you’re looking for a simple solution that you can take with you on your smartphone, Landlordy is a good option.

Landlordy has both an iOS and Android app version and a good UI. Compared to some of the other options, the feature set of Landlordy is minimal. The free version is limited to a single rental property/unit, single tenant lease and has limitations on number of expense/payment records.

Still, if you’re looking for something basic that helps you collect rent online for your first property, it’s worth a look.

Landlordy Pricing

• $14.99 for up to two units
• $49.99 for up to 10 units
• $99.99 for unlimited units

Best for Affordability

Investing in property management software is a smart move, and finding a cost-effective option that delivers the necessary features is key. Here are three standout choices for managing a smaller portfolio without breaking the bank.

TenantCloud

TenantCloud no longer offers a free plan, but it provides an affordable Starter option for $15.60 per month if billed annually.

This plan is ideal if you're a DIY landlord or have a small portfolio, as it includes essential features like rent payments, maintenance management, and listings with applications.

If you manage a larger portfolio, you might consider the Growth plan at $29.30, billed annually. This plan enhances your capabilities with advanced features such as a lease builder, landlord forms, and a property message board.

While Landlordy and Avail may still be the preferred choice for a free option, TenantCloud offers a broad feature set across both its Starter and Growth plans providing a practical and economical solution for managing your properties.

Features include:

• Online rent payments
• Work order management
• Vendor payments

TenantCloud Pricing

SimplifyEm

SimplifyEm is an excellent option if you’re primarily looking for an accounting tool for managing your properties.

SimplifyEm makes tracking and collecting rent easier, but it does have some unique features like payment reminders.

It has a free trial version that’s unique among other property management software tools in that you can test out the complete software for a limited time without putting any sensitive information in.

Features include:

• Robust accounting features
• QuickBooks integration
• Reminders
• Automated rent payments

SimplifyEm Pricing

SimplifyEm's paid plans start at $35 per month, making it one of the most affordable paid plans on this list. However, it only covers up to 10 units. You'll have to pay more for more units.

Property Matrix

Property Matrix is a good option for businesses with very specific reporting needs. Offering over 500 customizable reporting fields, this software allows you to generate virtually any report you’ll need. 

Users report Property Matrix’s is easy to use and seem fairly happy with the software.

Features include:

• Mobile app
• Custom user roles
• Custom fields and reports
• ACH and credit card payments

Property Matrix Pricing

Property Matrix starts at $450/month on its Starter plan, which is high compared to other options out there.

Even if you manage as many as 250 units, there are other software options that offer a more advanced subscription tier that still costs less than the basic package.

Best for Custom Reporting

If you’re looking for powerful customizability when it comes to your reports, Property Matrix is a solid option. With that said, it may be worth it exploring other options that offer similar (or higher) functionalities at a lower price point.

Rentec Direct

Rentec Direct is a property management tool with a large set of property management features and a great pricing model.

It has one of the most comprehensive sets of features of any option on this list. Its accounting features in particular are diverse, including everything from online rent payments to robust reporting tools.

Features include:

• Good accounting features
• Work order management
• Tenant communications tools
• Owner portal

Rentec Direct Pricing

Rentec Direct’s pricing starts at a base of $45 per month, billed annually for up to 25 units, with pricing increasing based on a tiered model.

Landlord Studio

Landlord Studio is a rental management software that is intuitive and easier to use.

Landlord Studio includes these features:

• Expense tracking
• Tenant screening
• Account reports
• Xero integration
• Automated lease expiry reminders

Landlord Studio Pricing

Landlord Studio's "Go" plan is free to use, and has a limit of 3 units.

Their Pro plan starts at $12 per month when billed annually. They also offer a 14 day free trial.

Best All-Around Choice

Although biased, our top pick for the best all-around property management software offers a free demo, competitive pricing, and a comprehensive feature set. Whether you're managing a few properties or a vast portfolio, this software excels in meeting diverse needs. If you're seeking a solution that ticks all the boxes, look no further.

DoorLoop

Nearly 700 users on Capterra and Software Advice rated DoorLoop 4.9 stars. This high rating doesn't include feedback from other reputable software review sites like G2.

DoorLoop offers affordable pricing, starting at $49 per month for up to 20 units, including a promotional rate. Its comprehensive features maximize value for your property business, enhancing lease compliance, optimizing operations, and more.

With DoorLoop, you can:

• Manage all accounting tasks, from automating rent payments through various methods to comprehensive financial reporting and account management.
• Oversee work orders efficiently, allowing tenants to submit maintenance requests via the app, and enabling you to assign and pay vendors directly.
• Communicate directly with tenants through the app, significantly simplifying interactions.
• Provide owners with a portal, for straightforward reporting and check printing.
• Streamline new tenant onboarding, from auto-listing properties to conducting tenant screenings.

Additionally, DoorLoop is designed for simplicity and ease of use. The user interface is exceptionally responsive, with fast loading times and a design that makes navigation and task management intuitive and quick.

DoorLoop Pricing

DoorLoop’s online rent payment and property management system starts at just $59 per month for up to 20 units and with room to grow.

Regardless of the property management software you choose, one thing is certain: It can significantly automate your operations, especially if you manage a small portfolio.

Property management software can:

• Streamline complex operational systems.
• Facilitate clear communication with tenants, vendors, and owners.
• Automate routine tasks, reducing your daily workload.

And that's just the beginning.

To leverage these benefits and more, consider trying DoorLoop’s all-in-one property management software. It’s specifically designed for both small and large-scale investors and property managers, whether you're overseeing a few properties or several.

Schedule a free Demo today!