There are many ways in which technology is truly changing the way real estate brokers are functioning. The digital age is taking over from the traditional paper systems, especially due to the ever growing popularity of real estate transaction management software.
As well as containing E-signature functionality, contract management, payment organization, compliance review and secure document storage, these management software tools will create one simple package to transform your day to day business. If you’re looking for the best property management software there are a whole host of choices available on the market.
Although online listings might help homebuyers to discover the perfect property for them via a secure database, there are other forms of technology such as real estate transaction management software and the best property management software that need to be explored from the perspective of a real estate broker. You can track the vacancy of certain properties as well as tracking your tenants, or creating your own property website.
Check out some of the advantages and disadvantages of the following real estate management software choices and the best property management software
Planon Real Estate Management by Planon
This could be considered one of the best property management software options, due to its popularity. This piece of real estate transaction management software is purpose built for medium, large and global businesses who are seeking out a way to organize their data in a more cohesive and reliable way.
Some of the advantages of this best property management software are that Planon allows users to organize and structure their data, including property and tenant details. They also provide options for transaction management which allows all users to build, manage and analyze situations for more effective financial forecasting. Similarly, users will also be able to predict costs in the future and seek out potential saving opportunities with this real estate transaction management software. If you are a real estate broker who is looking to eradicate spreadsheets from your business, then Planon can be used to provide universal dashboards for more streamlined management. It is certainly one of the best property management software choices out there.
On the contrary, this isn’t the ideal real estate transaction management software for property businesses who are smaller or not as well established in the market yet. Real estate transaction management software demos are available if you’re interested in trying out this best property management software option.
SkySlope Real Estate Transaction Management Software
Managing documents in the real estate business is a whole lot of work, but with SkySlope you can have an all-inclusive pricing package for all of your document needs. It has been reported as being very easy to set up and the best property management software for creating templates, uploading documents, obtaining E-signatures and reviewing, as everything is packaged into one simple piece of real estate transaction management software. The collaborative fields are also extremely useful as it allows different users to edit the same text field multiple times, which is very useful when several members of your team job share. SkySlope is also one of the best real estate transaction options for email and text tracking, so they are stored alongside the deal.
Although there is no free trial and all plans need a minimum of twelve months on their contract, many have found success in this best property management software.
TRIRIGA Real Estate Manager by IBM
Here is another very popular real estate transaction management software option that makes the top five due to the excellent reputation of the brand.
This is a perfect choice if you’re aiming to gain a good grasp on the accounting for your leases as it comes with prebuilt controls to help you out. This option can automate the creation of real estate and asset-lease contracts and payment schedules. You also have the option of added automated notifications in for notable dates, like contract expiration periods.
Some of the downfalls are that this is certainly a real estate property management software option for big businesses and there isn’t much scope for scalability for smaller companies. It’s also on the pricier end the spectrum running at $13,500 for a software license.
Appfolio Property Manager by Appfolio
If you choose Appfolio you are not only getting a smart real estate property management software option, but you are also giving yourself the flexibility to work from anywhere at anytime.
This is a cloud based property management system that is solid for any real estate agent on the go. You can monitor properties from wherever you are through the high tech portal system. The smart software also gives you the freedom to build professional websites for your properties.
It is said to be very easy to use with excellent customer support on hand when needed. User feedback is always taken into consideration too, which makes for a better piece of software overall.
Although there are a number of features that could be improved on AppFolio is definitely a piece of software with potential. Some say it is a work in progress and some would have preferred a quicker response from the support team.
AppFolio charges $1.25 per unit, per month for residential usage and $1.50 for commercial. For student housing, that fee is $1.25, and for community associations it’s $0.80.
Rentec Direct displays promising features for a reliable and cheap real estate property management software option.
Some of the main advantages of this real estate property management software is that the customer service is very friendly and responsive. Users have reported that this software is very easy to use, as it effectively tracks payments and expenses, whilst keeping everything perfectly organized in the online portal.
It has been recommended that this piece of software could be improved by making it much more customizable for the user.
If you’re hoping to try Rentec Pro out for yourself you can seek out a two week free trial. Usually the paid version will be around $0.90 per month, per unit. It’s $1 per month for Rentec PM. However, you only get that price if you buy in large quantities. If you only purchase 10 units, for example, you’ll have to pay $35 to $40 per month.
360Workplace for Commercial Real Estate by Accruent
With some very attractive features for larger businesses this is a solid real estate property management software option for your corporate company.
This piece of software operates as a suite of systems that offers facility maintenance management, space management and lease administration support for those looking to manage real estate.
One of the best things about 360Workplace is that users can monitor their assets and inventory, as well as keeping on top of schedules. This option is also cloud based which is ideal for those on the go. There is also no maximum number of users that can access the information if you’re operating on a larger scale.
Smaller businesses may find this choice to be slightly frustrating as it is aimed at corporate real estate.
A free demo is available for best property management software and there are no other overt details on pricing until you enquire further.
Buildium Property Management Software by Buildium
Here you will find another tried and tested real estate transaction management software option that has some real strong points to note.
It has to be said that this is one of the top choices of real estate transaction management software in the industry with more than 12,000 property managers in 46 countries. Not only does Buildium tackle accounting, business operations and leasing, but you can also monitor your expenses. Making online payments couldn’t be easier either with this built in feature. There is also a resident portal for processing maintenance requests for those wanting to manage their progress and payments.
There are very few downsides to this best property management software, but some report that the set up times can be quite time consuming. Also, getting to grips with the various systems might take a little longer than you’d like.
You can pay monthly or annually for Buildium’s features. Prices range from $45 to $1,800/month or $540 to $21,600/year. Properties with more than 5,000 units should contact the company’s sales department for custom pricing. A free trial is also available for this real estate transaction management software.
Property Operations Workspeed by MRI Software
This is an incredibly popular real estate property management software option for your business. With almost 3000 clients worldwide, they offer risk management, business analytics options and risk management too in the best property management software out there.
There are numerous advantages to this piece of best property management software, simply because it handles a variety of aspects that are essential to maintaining multiple properties. You will have an equipment line right at your fingertips, as well as a service contract and warranty management tool. There is also a service request option within this real estate property management software so that managers, tenants and engineers can submit a request and work orders.
On the other hand, this choice is quite a basic solution as a real estate transaction management software which doesn’t have much scope for customization. If you’re unsure whether this real estate transaction management software is right for you, you can request a free trial to find out the best property management software for you.
With technology becoming more and more advanced there will always be new and emerging trends for the property market. Investing in a reputable piece of real estate transaction management software and researching the best property management software might just help you to streamline your day to day business as well as managing your finances, properties and tenants all in one cohesive place.