Top 24 Property Management Systems For Efficient Operations Of 2024
10 Best Property Management Systems Shortlist
Here's my pick of the 10 best software from the 24 tools reviewed.
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As a seasoned property manager, I understand the multitude of tasks you juggle daily – coordinating maintenance, managing tenant communication, keeping track of rent payments, and more. That's where property management software comes into play. Hotel PMS solutions were often managed on-premises but property management systems can offer customizable templates for workflows, housekeeping management, work orders, and financial reports.
The benefits of this tool are endless, from increased efficiency to time and cost savings. Whether you're struggling with organization, tenant management, financial tracking, or maintenance schedule, this software addresses those pain points, making property management ease of use. Take a look at these top-tier options, and I'm sure you'll find one that fits your unique needs perfectly.
What Is A Property Management System?
Property management system software (PMS software) is a comprehensive tool that allows property managers, real estate professionals, and landlords to oversee hotel chains more effectively on a day-to-day basis. This dynamic platform centralizes operations such as rent collection, increased room occupancy, and ADR through real-time rate, tenant communication, maintenance requests, cloud-based PMS displays guest data and guest services, messages via mobile devices, self-service options, upselling properties, and financial management, among others.
Users can streamline their processes, automate repetitive tasks, and optimize property portfolio performance. Whether managing a single property or a vast portfolio, users employ this software to increase efficiency and improve tenant satisfaction, helping to improve revPAR and profitability. This smart technology is the backbone of modern property management, transforming complex workflows into simple, manageable tasks.
Best Property Management System Summary
| Tools | Price | |
|---|---|---|
| Cloudbeds | From $20/user/month | Website |
| Buildium | From $50/user/month. | Website |
| Little Hotelier | Pricing upon request | Website |
| WebRezPro | From $5/user/month, (billed annually). | Website |
| Visual Lease | Pricing upon request. | Website |
| Sirvoy | From $9/user/month. | Website |
| Solonis | From $20/user/month | Website |
| MRI @Work | Pricing upon request. | Website |
| RoomKeyPMS | From $80/user/month. | Website |
| ThinkReservations | From $30/user/month. | Website |
Compare Software Specs Side by Side
Use our comparison chart to review and evaluate software specs side-by-side.
Compare SoftwareBest Property Management System Reviews
Cloudbeds is a property management solution designed to boost efficiency in managing reservations and group bookings. By integrating various aspects of property management into a single platform, Cloudbeds makes managing multiple reservations and large groups less daunting and more organized. Given these attributes, it is especially suited for establishments that regularly cater to group bookings.
Why I Picked Cloudbeds: I picked Cloudbeds for this list due to its excellent capabilities in handling group management and optimizing reservation processes. What sets it apart is its innovative approach to consolidating various tasks, resulting in improved reservation efficiency. In my assessment, Cloudbeds is best for scenarios that involve group management and reservation efficiency due to its user-friendly and comprehensive features.
Standout Features and Integrations:
Key features of Cloudbeds include its reservation management system, group bookings functionality, and advanced reporting capabilities. Additionally, Cloudbeds integrates seamlessly with a variety of third-party apps and platforms such as online travel agencies (OTAs), payment gateways, and more, further enhancing its functionality.
Pros and cons
Pros:
- Integrates with a wide variety of third-party apps and platforms
- Robust reservation management system
- Efficient group management capabilities
Cons:
- Might offer more functionality than smaller establishments require
- Could be overwhelming for new users due to its broad range of features
- More expensive compared to other property management tools
Buildium
Best for commercial property management and tenant communication
Buildium is a powerful property management software designed to streamline operations for commercial property managers. With an emphasis on enhancing communication between tenants and property managers, Buildium is adept at ensuring smooth management processes, making it ideal for those seeking strong tenant communication channels and commercial property management.
Why I Picked Buildium: I selected Buildium for this list due to its commitment to simplifying commercial property management and enhancing tenant communication. What makes it distinct is its tenant portal, which effectively bridges the communication gap between tenants and managers. I'm of the opinion that Buildium excels in managing commercial properties and fostering strong tenant communication due to its user-friendly interface and well-structured features.
Standout Features and Integrations:
Among the most useful features of Buildium are its online payment processing, tenant and lease tracking, and comprehensive tenant portal. It also provides integrations with various third-party platforms such as HappyCo for inspections, Sure for insurance, and PayNearMe for cash payments, which can further streamline property management operations.
Pros and cons
Pros:
- Comprehensive integrations with third-party platforms
- Strong tenant portal for improved communication
- Robust features for commercial property management
Cons:
- The interface may take some time for new users to get used to
- Relatively higher starting price point
Best for small hotels and bed and breakfast operations
Little Hotelier is a property management system designed specifically for small hotels, inns, and bed and breakfast operations. Its main goal is to simplify operations and maximize the booking potential of smaller establishments.
Why I Picked Little Hotelier: I chose Little Hotelier for this list because of its specialized focus on smaller accommodations. In a market where many tools try to cater to all types of establishments, Little Hotelier stands out with its tailored features. Therefore, I deem it to be the best tool for small hotels and bed and breakfast operations.
Standout Features and Integrations:
Little Hotelier includes features such as a front desk system, a reservation system, and an online booking system via mobile app and provides a comprehensive hotel management software system, ideal for small hotels and bed and breakfast operations. Its intuitive design helps small hotel owners manage their operations effectively. Moreover, it integrates seamlessly with various distribution channels, enhancing the visibility of these establishments.
Pros and cons
Pros:
- Seamless integration with various distribution channels
- Easy-to-use interface
- Tailored specifically for small hotels and B&Bs
Cons:
- Annual billing might be a hurdle for some
- Limited functionality for larger operations
- Higher cost compared to some competitors
WebRezPro is a versatile hotel property management system tailored for the hospitality industry. It offers an all-in-one solution to manage operations, from reservations to daily reporting, for hotel businesses, inns, hostels, B&Bs, vacation rentals, and more.
Why I Picked WebRezPro: I chose WebRezPro due to its robust capabilities specifically tailored for the hospitality sector. Compared to others, it has a comprehensive suite of features that handle complex operations effortlessly. I believe it's best for hospitality operations management because it's designed to cater to unique industry demands like reservation management, front desk operations, housekeeping, and more.
Standout Features and Integrations:
WebRezPro boasts a comprehensive reservation system, real-time availability status, automatic confirmations, and dynamic reporting tools. Its guest relationship management features are also top-notch. As for integrations, WebRezPro seamlessly interfaces with more than 100 other systems, including online distribution channels, POS systems, electronic locks, payment gateways, and revenue management systems. WebRezPro also offers the ability to upgrade its features, providing enhanced functionalities to meet the unique needs of diverse hospitality businesses.
Pros and cons
Pros:
- Affordable pricing
- Wide range of integrations
- Comprehensive hospitality features
Cons:
- Billed annually, no monthly subscription option
- User interface could be more modern
- Requires time to learn all functionalities
Visual Lease is a property management system specializing in lease management for the real estate and hospitality industry. This cloud-based platform helps businesses effectively manage their lease operations and compliance.
Why I Picked Visual Lease: I selected Visual Lease due to its dedicated focus on lease management. Its ability to handle real estate and hospitality leases - from small businesses to multinational corporations - makes it stand out. Given its powerful lease administration capabilities and built-in compliance tools, it's my top pick for real estate and hospitality lease management.
Standout Features and Integrations:
Visual Lease offers features like automated lease calculations, comprehensive reporting, and document management. With compliance being a top priority, it includes tools for FASB/IFRS and GASB standards. Visual Lease integrates with major accounting, ERP, and business intelligence systems, ensuring data consistency across platforms.
Pros and cons
Pros:
- Seamless integrations with major accounting and ERP systems
- Comprehensive lease compliance tools
- Tailored for real estate and hospitality lease management
Cons:
- Limited functionality beyond lease management
- Might be more complex for small businesses
- Pricing information not readily available
Sirvoy is a property management system that focuses on a flexible booking system and the ability to integrate seamlessly with websites. This tool is designed to streamline online bookings and automate property management tasks, making it ideal for businesses seeking efficient booking operations and website integration.
Why I Picked Sirvoy: Among the various property management solutions, Sirvoy caught my attention because of its excellent balance between a flexible booking system and its capacity for website integration. This balance is a distinguishing factor that makes it stand out from the crowd. I believe Sirvoy is the best tool for businesses that prioritize efficient online booking and integration with their existing website.
Standout Features and Integrations:
Sirvoy boasts a range of features including intuitive invoicing and kiosk features, automated emails, and detailed reporting. Its standout feature is the booking engine that can be effortlessly integrated into a website, offering real-time availability and bookings. Sirvoy also integrates with popular platforms such as WordPress, making it easy to sync your website with the property management system.
Pros and cons
Pros:
- Integrations with popular platforms like WordPress
- Automated emails and detailed reporting enhance operational efficiency
- Flexible booking system that integrates with websites
Cons:
- Customer support could be improved based on user reviews
- The user interface might require a learning curve for some users
- May not offer the level of financial management some businesses require
Solonis is a platform that offers comprehensive data analytics for property management. It is built to provide insights and predictive analysis to improve decision-making for property managers. Given its emphasis on data and predictive analytics, Solonis is particularly effective for those seeking a data-driven approach to property management.
Why I Picked Solonis: When evaluating property management tools, I selected Solonis due to its distinctive focus on data analysis and insights. Its ability to turn raw data into actionable information sets it apart from other tools. In my opinion, Solonis is the superior choice for businesses that want to harness the power of data for property management.
Standout Features and Integrations:
Key features of Solonis include predictive analysis, interactive dashboards, and extensive reporting capabilities. These features allow users to uncover trends, predict future outcomes, and make data-informed decisions. Solonis also offers an API feature, allowing businesses to integrate with other systems and tools to streamline their operations.
Pros and cons
Pros:
- Seamless integration with various data sources and platforms
- Predictive analysis feature aids in proactive decision making
- Provides comprehensive data analytics
Cons:
- More advanced features might be overkill for smaller businesses
- Might have a steep learning curve for users new to data analysis
- Lack of transparent pricing information may deter potential customers
MRI @Work is a robust software solution combining property management and financial capabilities. It delivers a holistic view of property operations and financials, making it an ideal tool for businesses looking for more financial depth in their property management.
Why I Picked MRI @Work: In deciding on the tools for this list, I valued the unique combination of property management and financial management that MRI @Work offers. Unlike many other property management tools, it provides in-depth financial capabilities, setting it apart from the competition. This mix of features makes it the best choice for businesses looking for integrated property and financial management.
Standout Features and Integrations:
MRI @Work offers key features such as lease management, financial accounting, and analytics. The integration of property and financial management in a single platform provides businesses with a comprehensive overview of their operations. It integrates with a range of other software systems, including CRM, ERP, and accounting systems, offering flexibility and convenience.
Pros and cons
Pros:
- Seamless integrations with other software systems
- Robust feature set tailored for comprehensive property management
- Integration of property management and financial capabilities
Cons:
- Learning curve for those unfamiliar with financial management systems
- May be complex for smaller operations
- Pricing information is not publicly available
RoomKeyPMS is a full-service property management system, specializing in delivering top-notch front-desk solutions. It's designed to streamline operations and improve guest experiences for hotels, motels, resorts, inns, and vacation rentals.
Why I Picked RoomKeyPMS: RoomKeyPMS caught my attention with its impressive front-desk functionalities. The platform's ability to effectively manage front-desk tasks in a fast-paced environment sets it apart. Given its efficient check-in/check-out system, room assignment, and guest communication features, I firmly believe it's best for comprehensive front-desk functions.
Standout Features and Integrations:
Key features of RoomKeyPMS include its integrated booking engine, group management capabilities, and real-time room status updates. Its robust guest profiling further enhances personalization and service quality. Integrations are abundant with this platform, connecting to multiple distribution channels, POS systems, payment gateways, and revenue management tools. RoomKeyPMS offers different modules, allowing businesses to customize their system according to their needs.
Pros and cons
Pros:
- Wide range of integrations
- Strong guest profiling features
- Comprehensive front-desk functionality
Cons:
- Limited customization capabilities
- User interface could use modernization
- Price point is high for smaller operations
ThinkReservations is a comprehensive property management system that combines reservations and business management functionalities. Its streamlined operations make it a great fit for hotels, B&Bs, inns, and vacation rentals.
Why I Picked ThinkReservations: In my quest for a tool that seamlessly combines reservations and business management, ThinkReservations stood out. Its dual functionality of managing bookings and operations efficiently helps both front-office and back-office roles is what sets it apart from the rest. With a focus on providing an integrated solution, it's no surprise I find it best for users needing to combine reservation and business management tasks.
Standout Features and Integrations:
ThinkReservations features include a user-friendly booking engine, intuitive reservation management, and detailed reporting. Its integrated payment processing (credit card, debit card, etc.) makes financial management straightforward. It offers crucial integrations with OTAs, website platforms, point of sale (POS) systems, and more, further simplifying operations. ThinkReservations also includes social media features, offering businesses the ability to manage and monitor their social media presence directly from the system.
Pros and cons
Pros:
- Variety of crucial integrations
- User-friendly interface
- Comprehensive reservation and business management
Cons:
- Limited customization options
- Steep learning curve for some users
- Higher starting price than some competitors
Other Property Management Systems
Below is a list of additional PMS systems that we shortlisted, but did not make it to the top 10. Definitely worth checking them out.
- SiteMinder
Best for seamless connectivity to global and regional markets
- Resort Data
Best for managing resort and vacation rental properties
- Hostaway
Good for automation of tasks in short-term rental properties
- Showdigs
Good for scheduling property showings on-demand
- Autohost
Good for guest screening and risk detection in short-term rentals
- AVUX
Good for scheduling property maintenance and repairs
- MiniCal
Good for small hotel and B&B management with direct booking
- Smoobu
Good for vacation rental property management Property Vista - Good for tenant relationship management and rent collection
- Entrata
Good for large property portfolios and resident management
- Zego
Good for integrating payments, utilities, and resident engagement
- Hometime
Good for Airbnb property management and optimization
- Total Management
Good for commercial property management and web-based access
- LetUs
Good for tenant acquisition and online rent payments
- ONR
Good for centralized management and lease tracking
Selection Criteria For Property Management System
When choosing property management software, there are several factors that I considered. Having tested and researched numerous tools in this field, I was able to narrow down the selection based on the following criteria.
Core Functionality
These are the fundamental tasks that property management software should enable you to do:
- Tenant and lease tracking: Keep track of your tenants' details and lease terms.
- Rent collection: Collect payments digitally to minimize delays and lost payments.
- Maintenance management: Schedule, track, and manage repair requests from tenants.
- Property inspection: Organize and document property conditions before and after tenancies.
- Financial reporting: Monitor the financial performance of your properties.
Key Features
Here are the specific features that a top-notch property management software should include:
- Online portal: This allows tenants to make requests and payments online, enhancing the tenant experience.
- Mobile access: A software with mobile access allows property managers to manage tasks from anywhere.
- Integration capabilities: The tool should integrate with other software to allow seamless data sharing and improved efficiency.
- Automated tasks: Features like automated rent reminders, lease renewals, or maintenance updates can save a significant amount of time.
- Customizable reporting: The software should enable the creation of custom reports to cater to specific needs.
Usability
When it comes to usability, here are the things to look for:
- Intuitive interface: The software should be easy to navigate without requiring extensive training.
- Quick setup and onboarding: The software should have a simple setup process and provide helpful resources for getting started.
- Reliable customer support: Customer support should be accessible and knowledgeable, and able to provide quick resolutions to issues.
- Scalability: The software should be able to grow with your business, accommodating more properties or users as needed.
- Role-based access: This feature allows different levels of access to be given to different team members, ensuring that everyone has the right information for their roles.
Most Common Questions Regarding Property Management Systems (FAQ's)
What are the benefits of using a property management tool?
Using a property management tool provides several benefits. First, it can simplify the process of managing properties by automating tedious tasks like rent collection, lease renewals, and maintenance scheduling. Second, it allows landlords to keep all information in one place, reducing the risk of errors.
Third, these tools can provide financial reporting features to keep track of income and expenses. Fourth, they often provide online portals and mobile access, enhancing communication between landlords and tenants. Lastly, property management tools can offer scalability to handle an increasing number of properties as your business grows.
How much do property management tools cost?
The pricing for property management tools varies significantly based on the number of units you’re managing and the features you require. Some basic tools may start as low as $10 per month, while more comprehensive systems can cost several hundred dollars per month.
What are the typical pricing models for property management tools?
Most property management tools use a subscription-based pricing model, which can be either monthly or annually. Some tools charge per unit, so the more properties you manage, the more you pay. Others may offer tiered plans, where you pay a flat fee for a certain number of units, and then an additional fee per unit beyond that.
What is the typical range of pricing for property management tools?
The typical range of pricing for property management tools can start from around $10 per month for basic tools and go up to $500 per month for more advanced options.
Which are the cheapest and most expensive property management tools?
The pricing can depend on the number of units and the specific features needed, but generally, tools like TenantCloud and Zillow Rental Manager are considered among the more affordable options. On the other end of the spectrum, Buildium and Appfolio are often regarded as pricier, given their comprehensive feature sets.
Are there any free property management tools?
Yes, there are free property management tools available like TenantCloud and Zillow Rental Manager, which offer a limited set of features for a small number of units. However, these options might not provide the full suite of capabilities required for larger or more complex property management needs.
Summary
Continue to keep tabs on software and tool tips and tricks through is the best property management newsletters.
Understanding your unique needs is the first step towards choosing the right property management tool, as these tools offer a wide array of features. Some excel in managing residential properties, others are better suited for commercial properties, while certain tools specialize in vacation rental management.
Alongside your needs, the tool's ability to integrate with other software such as accounting systems, CRM platforms, and payment gateways is also crucial. This integration capability adds value by creating a seamless data flow, thereby increasing your operational efficiency. Usability also plays a key role in choosing a tool, meaning it should have an intuitive interface and provide good customer support for easy usage and problem resolution.
Lastly, cost considerations cannot be overlooked. The pricing among property management tools can vary significantly, but it's vital to look beyond just the cost. Free and low-cost solutions may offer basic functionalities, but if your needs are more extensive, investing in a more comprehensive and possibly pricier tool could save you money in the long run by increasing efficiency and reducing manual labor.