Top 5 DIY Property Management Programs for Self-Managing Landlords
Are you a landlord looking to manage your rental properties efficiently without a property management company? In today's digital age, there are several DIY property management programs available online that can make your day to day life as a landlord much easier. These programs offer a range of features to streamline tasks such as rent collection, lease agreements, tenant screening, maintenance requests, and more. As experts in the property management field ourselves, we’ve compiled a list of the top 5 DIY property management programs available to help you effectively manage your rental properties.
First on our list is Apartments.com. This website is a software solution from the same group who own Loopnet.com, Costar. They offer a comprehensive set of tools for landlords to manage their rental properties effectively. Here's what you can expect from this platform:
Competency Level: Beginner
Rental Listings: You can create rental listings that include all essential property information. From there, the platform will connect you with interested potential renters.
Screen Applicants: Once you have your applicants, you can customize the screening process based on eviction history, criminal records, and credit risk.
Leases: Apartments.com will help you build customized, legally binding lease agreements that comply with state-specific regulations. You’ll also be able to invite applicants to sign their leases online, eliminating the need for physical paperwork.
Rent Collection: With Apartments.com, collecting rent is hassle-free. Tenants can make payments using their checking accounts for free or opt for debit/credit card payments with a 2.75% fee. Plus, you can automate rent payment reminders and late fees.
Maintenance Requests: Once you have your tenants happily in their new home, you can use Apartments.com to manage any maintenance requests they may have right on the website! You’ll be able to keep track of expenses, attachments, and notes related to repairs.
Price: While Apartments.com offers free basic services, they charge for premium listing features.
2. Buildium (Realicore uses this program)
Number two on our list is Buildium. This is going to be for your landlord who has a growing portfolio. They provide an array of property management tools tailored to your specific needs depending on which plan you choose. Here are some of its key “Essential Plan” features:
Competency Level: Intermediate
Tenant Screening: You can utilize their tenant screening services for a comprehensive view of potential renters.
Accounting: Easily manage your property finances and tasks with Buildium's intuitive interface.
Maintenance: Streamline maintenance tasks and responsibilities for a well-maintained property.
Violations: Keep track of any property violations and address them promptly.
Online Portals: Facilitate online communication between landlords, tenants, and property managers with ease on Buildium.
Standard Reports: Generate standard reports for property analysis and insights.
Price: Buildium offers an Essentials plan with a free trial, starting at $52 per month. Pricing varies based on the number of units and additional features.
Next on our list is Appfolio, a robust property management platform designed for residential, commercial, and community association management. This is for more medium to advanced users. Here's what it offers:
Competency Level: Intermediate to Advanced
Smart Maintenance: Manage maintenance requests round the clock with end-to-end support.
AI Leasing Assistant: With their intuitive AI leasing assistant, you can set it to respond instantly to leasing inquiries, qualify leads, and more.
FolioGuard™ Risk Mitigation: Within Appfoilo, you’ll have access to risk mitigation products to help protect your properties and residents from accidents or damages.
Debt Collections: If you find yourself in the unfortunate situation of needing to collect a past due debt, Appfolio will help you streamline that debt recovery process.
Accounting and Reporting: Access robust accounting and reporting features.
Price: Appfolio has a minimum monthly fee of $280, with a 50-unit minimum requirement.
Doorloop offers a simple and affordable solution for property management across various property types. Some of their key features include:
Competency Level: Beginner
Automated Rent Collection: Tenants can connect their bank accounts to autopay their rent on the 1st of each month, reducing the need for manual collection.
Accounting for Non-Accountants: You’ll be able to run easy to understand custom reports and track cash flow.
Maintenance: Tenants can submit requests online. From there, using Doorloop you can keep track of the requests, assign vendors to the task, and pay your vendors once the assignment is completed.
Price: Doorloop is priced at $49 per month for managing one unit.
5. Stessa
Last but not least on our list is Stessa. Stessa offers a streamlined solution for managing rental properties with a focus on financial aspects. Services included in a Stessa subscription are:
Competency Level: Beginner
Tenant Screening: Perform application management, credit checks, and background screenings.
Rent Collection: Collect deposits and rent online, send auto reminders, and assess late fees easily using Stessa software.
Banking: Access FDIC-insured banking services with no minimum balance and cashback on purchases.
Reporting and Taxes: Export data, access basic reporting, and receive a basic tax package to hand off to your accountant.
Bookkeeping: Track expenses, mileage, and scan in your receipts for safe keeping.
Price: Stessa offers a free Essentials package, and a Pro package starting at $20 a month
Whether you're managing a single rental property or a portfolio of units, these DIY property management programs can simplify your responsibilities, save you time, and enhance your overall landlord experience. So be sure to explore your options, try out free demos, and choose the program that aligns with your unique needs and goals as a property owner.
Remember, while these tools can make your life as a self-managing landlord more manageable, it's crucial to stay informed about local landlord-tenant laws, fair housing regulations, and best practices in property management. Additionally, providing excellent tenant communication and customer service remains essential for successful property management.
If self-managing your rental properties isn’t for you because you find that managing takes up too much of your time that could be better spent relaxing or working on new forms of income, or for whatever reason it may be, consider hiring an experienced property management team like Realicore to handle everything for you. Realicore Property Management has a proven track record of assisting numerous landlords in realizing their passive income objectives while ensuring the satisfaction of many happy tenants. Call us today to Schedule your consultation at (909) 810-2108.
Disclaimer: Prices and features mentioned in this article are subject to change by the respective software providers. Please visit their official websites for the most up-to-date information and offerings.
