With rentals skyrocketing in the aftermath of the pandemic, landlords will need to rely on effective property management software to manage their properties and safeguard and expand their investments. As a property owner, you can save time on administrative duties and have more time for other things and for yourself if you use one of our top 5 rental property management software this 2022.
What Is Property Software?
A property management software is created specifically for landlords and property managers who want to automate and expedite business processes related to managing rental properties. Rental management software intends to meet demands by including financial, marketing and communication, tenant screening, insurance, leasing, inspections, and other features associated with maintaining rental properties.
Which Is an Example of Property Software?
Many property owners have struggled with monitoring tenant files and would use business or accounting software, instead. While it reduces manual work, it still lacks features to ease your job. If you're in the same boat as them, these are the top 5 best rental property management software options worth your money and effort.
#1 Guesty
Guesty is one of the leading short-term vacation rental and hospitality property management software. Property owners use Guesty's platform to unify their bookings, guest communication, operational responsibilities, and housekeeping management across all major booking channel management systems.
Guesty takes pride in providing the most comprehensive collection of tools for hosts and owners to manage their whole short-term rental company.
From guest communication to job assignment to payment processing, its end-to-end solution streamlines the various operational demands that property managers encounter regularly. Its property management technology synchronizes channel administration in one platform, maintaining listings across all major OTA booking channels such as Airbnb, Vrbo, Tripadvisor, Agoda, Expedia, direct booking websites, and more.
Besides being a short term rental management software, Guesty can function as a sole Airbnb management software. It saves hospitality operators time and money, allowing them to focus on increasing occupancy, providing a fantastic guest experience, and developing their business.
Key Features
Accounting tools compatible with an automated trust accounting system will minimize repetitive activities while keeping your rental business running smoothly. In this, you gain access to automated journal entries, bookkeeping, owner accounting, trust accounting, accounts payable reporting, and more.
The unified inbox is an intelligent messaging application that centralizes all guest communication across each OTA platform, allowing you to answer directly from Guesty. You can respond to inquiries through a booking channel, email, SMS, or Whatsapp in your Guesty inbox. Then, from the moment the first question arrives in your email, Guesty's Guest Communication Services staff will be on it, offering quick replies to enhance your conversion rates and guest stays.
Use comprehensive analytics and obtain insight into your performance. It transforms raw business data into actionable insights and key performance metrics that explain to you everything you need to know about the performance of your properties. Use the information provided by the reports to define your pain points, develop strong business strategies, and significantly improve occupancy rates across the board.
Allow Guesty's cutting-edge Automation features to handle your mundane duties so you can focus on developing your rental business. You will gain access to automated messages, answers, pricing, guest review tools, and payment handling.
Get your Booking Website to attract customers and to have a branded location for direct reservations, free of OTA fees so that you can pocket more earnings. You can directly communicate with your guests, offering tailored discounts and vouchers to advertise your properties and fill vacancies. You can also link with Google Analytics to better understand your funnels and measure the effectiveness of your marketing efforts. Set up a Facebook Pixel to directly record abandoned reservations using Facebook Ads.
With a Multi-management function, you may streamline the production of multiple similar listings or consolidate all of your existing interchangeable properties in one platform. You may alter rates, block days, and receive a rapid overview of which sub-units are occupied at any given moment with Guesty's Multi-Unit Calendar, allowing you to plan to accommodate as many reservations as possible. Run your short-term rental business as a hotel does.
It provides a better Channel Manager Software that streamlines channel onboarding and maintenance while giving a consolidated picture of distribution performance. Increase awareness and bookings while maximizing channel possibilities without switching between several dashboards.
If you require a custom solution for your company's unique style of operation, you may use Guesty's open API. It also allows you to sync your existing website and connect external applications.
Guesty's Owners Portal allows you to provide your homeowners or co-hosts with transparency and reports on their earnings, fees, and commission breakdowns. Additionally, a comprehensive Task Management application allows hosts and property managers to produce, assign, and monitor recurring to-dos with staff and cleaners, to ensure they are completed correctly and on time.
Receiving payment is undoubtedly the most rewarding aspect of property management, but collecting fees may be a chore. Guesty's Online Payment processor simplifies transactions. Then you'll have access to the industry's most configurable Reporting Tools, where you can view all the data you want to see, including your expenses and profits.
Moreover, you can automatically send your customers' customized agreements that outline your terms and conditions and gather their legally-binding e-signatures, decreasing your risk of fraud, damage, and undesired guest behavior. Set up an agreement adapted for longer stays and send it by automatic messaging to visitors staying for 28 days or more or whichever parameter you decide upon.
Most essentially, you can be at peace knowing that your rental units are protected from guest damage with Guesty's extensive coverage choices. It includes extensive damage protection policies that will cover the price of a broken appliance, soiled carpeting, or damage to those minor details of your rental properties.
Benefits
Accounting tools to manage your finances
Obtain analytics and make use of data for future decisions
Automation tools to simplify your work process
Have a personal booking website or use API to connect existing website
Channel manager to onboard tenants
Owners portal and task management
Easy online payment processor and reporting tools
Customized rental agreement
Multi-calendar and multi-units
A unified box for all messages
Pre and extended stays tools
There is no question that short-term rental properties will continue to be popular due to the rise in tourism and demand for alternative accommodation in urban and rural locations across the United States and globe. Get started with Guesty to ensure you can accommodate all bookings, manage your units efficiently, and make your investments worthwhile.
#2 Rent Manager
Rent Manager is an award-winning property management software designed for large residential, business, and short-term-stay portfolios. With this tool, you get a double-entry accounting system, maintenance management/scheduling, marketing interconnection, mobile applications, and more than 450 informative reports.
An API that interfaces with the finest PropTech suppliers on the market is among the software's completely configurable features. With that, if you're in dire need of an Airbnb property management software or even a channel management platform to communicate with your client, this one got your back.
This rental property management software is designed for companies that manage all types of properties. It is powerful enough to serve big portfolios while being flexible enough to be adjusted to any individual unit. Users may access their data from any location, including the field, an emergency repair call, the workplace, or their home.
Through a versatile platform, you get alternatives such as Rent Manager Online and Rent Manager Express, as well as user-friendly mobile apps such as AppSuite Pro and Resident. Accept payments, do inspections, generate reports, connect with customers, and more.
Key Features and Benefits
Comprehensive accounting system to handle your finances
Access and generate reports in seconds that you can export and download
Built-in marketing tools to advertise your rentals
Web and mobile capabilities so you can use it anytime and anywhere
Lets you create, track, and fix service issues within the platform
#3 PropertyBoss
PropertyBoss is a property management software designed for small to medium-sized property managers. Managers of affordable housing units, apartment buildings, prefabricated housing, military housing, senior housing, university and student housing, and other facilities will benefit from the software. PropertyBoss is available as a web-based or on-premise solution and is compatible with both Mac and PC.
Property accounting, tenant and lease tracking, budgeting and forecasting, and building upkeep are among the features available in PropertyBoss. Accounting elements include general ledger, accounts payable, profit and loss assessment, and other functions.
Its channel management software takes care of online payments, vacancy planning, resident screening, and unit characteristics. To handle your property's routine maintenance, you may use the building maintenance tools such as work orders, inventory, job monitoring, calendar prioritization, etc.
It has a student housing property management software that streamlines the process of students moving in and out, tracking contracts based on bed, and tracking finances. It even allows you to better manage hundreds of students on move-in/move-out days, track contracts by the bed, easily track financial aid payments, swiftly track parcels by a student, and much more.
Their apartment and multifamily management software have an implementation staff that will work with you to create specific settings for your tenants, allowing them to see precisely what remains to be improved and how to accomplish it in seconds.
Key Features and Benefits
Suitable for small to medium-sized property owners
Lets you manage different housing units
Available on the cloud and is accessible via Mac and PC
Comprehensive accounting and tenant features
Handles your property's routine maintenance
#4 SKYLINE
SS&C Technologies' SKYLINE is a web-based rental property management software and accounting system for small to medium real estate enterprises. It can provide integrated solutions for property administration, finance, tenant and lease monitoring, financial reporting, maintenance scheduling, and work orders.
With just a touch on your screen, you can instantly generate more leads, communicate with prospects, and sign digital leases. Improve tenant relations by delivering convenience through mobile services. Custom financial reports allow you to dive deep into the intricacies of performance measures. Schedule monthly charges, send out critical date alerts, and handle purchase orders, invoices, and vendor payments.
SKYLINE Residential Property Solutions provides new solutions to multi-family, condo/HOA, student housing, and single-family home managers to increase tenant satisfaction and cash flows. Maintain multiple-year budgets for yearly comparative reporting, boost efficiency with mobile facilities management solutions, charge rent with full AR, and receive an automated notice of time-critical dates crucial to managing your properties.
Key Features and Benefits
Accessible via PC and mobile
Client portal to manage tenants
Customized financial reports to intricately assess your performance
Monitors not just your property but the lease and other maintenance as well
Specialized features for residential companies of all types
#5 RentMaster
RentMaster is another property rental management software that assists businesses in managing inventory, pickups, deliveries, orders, and customer interactions. Managers use the platform to track real-time product availability and set labels to arrange inventory.
Administrators keep a searchable client database and customize order tracking values like reserved, received, delivered, canceled, and more. RentMaster provides a consistent interface for teams to configure individual purchase discounts, online transactions, and delivery options. Supervisors also use the filter function to sort rental, sales, and other information by date and time.
It allows you to arrange your inventory with as many categories and subcategories as you like. It simplifies paperwork by combining rental and for-sale products in the same invoice. Save time and effort by inputting several items with a single click. You can also use other features to simplify your orders. Aside from that, quotations can be readily converted into orders. RentMaster identifies complete client information and auto-verifies quotations to ensure inventory availability.
Key Features and Benefits
Tracks rental values
Consistent interface to take care of transactions
Lets you manage your inventory in detail
Automated quotations for higher accuracy and customer satisfaction
Access customized rental agreements
Obtain tenant database and sort them out by categories
Best Rental Property Management Software
Overall, property management software is a solution designed for property managers and landlords like you to sort out your rental property concerns. Alongside, you also get features that will account for your expenses and profit, take care of your clients, automate administrative jobs, and more.
Now that tourism is again back in business, you need to make your rental properties keep up with the help of our top 5 best rental property management software like Guesty, Rent Manager, and more.
