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Technology has made the management of multifamily properties remarkably convenient. However, the challenge lies in selecting the most suitable one. In essence, the top multifamily apartment applications should enable tenants to make online rent payments, request maintenance and repairs, establish contact with live support when necessary, and provide intelligent responses to tenant inquiries.
On the administrative side, a premier property management app should be capable of handling various tasks seamlessly. This includes processing rent payments, recording transactions, issuing receipts, sending late payment alerts, generating reports, managing maintenance requests, and facilitating communication with tenants, all within a single application. Here, we present ten of the most widely used multifamily apartment apps.
Top 5 Property Management Apps Overall
There exist applications that are highly advanced and equipped to manage a multitude of units. These apps must excel in handling both minor and major tasks to be truly valuable to landlords and property managers. Here are the top 5 comprehensive management apps suitable for properties of all sizes:
#1: Custom Multifamily Property Management App
If you have the financial means to invest approximately $10,000, you have the option to develop your own property management app. This approach allows you to reinforce your brand identity while tailoring the app to the unique requirements of your properties. If feasible, this is the optimal choice.
#2: Buildium
For those seeking a quick and easily adaptable solution, Buildium is arguably the most popular multifamily management app currently available. It offers comprehensive accounting, electronic payment processing, complete mobile accessibility, and streamlined request handling.
#3: AppFolio Property Manager
AppFolio Property Manager employs cloud-based technology for property management on the go, catering to properties of all sizes. It enables you to list your properties on Craigslist or your website via the app, market your buildings, e-sign documents, process payments, manage maintenance and repair requests, and accept online applications and background checks. This versatile app is suitable for both residential and commercial apartment management.
#4: Rent Manager
With a track record dating back to 1982, Rent Manager is a well-established software system and app for commercial and residential apartment managers. It handles all financial processes, including payroll, budgeting, and reporting.
#5: Rentec Direct
Rentec Direct is another valuable tool for building managers requiring assistance with the financial aspects of apartment management. It allows synchronization with QuickBooks, provides a personalized website and hosting, and enables you to track work orders, process credit card payments, and even file 1099s through the app.
Top 5 Property Management Apps for Small Buildings
For those managing just a few units in one or two buildings, free apartment apps are available that perform the tasks of some of the best full-service apps on the market. Here are five of the best options:
#1: MobileLandlord
Designed to manage up to five properties, MobileLandlord provides alerts for renewals and permits through Google Play or Apple iTunes.
#2: Property Buddy
Tailored for DIY landlords with limited time and a small number of properties to manage, Property Buddy offers a convenient platform for tracking leases and payments in one place.
#3: Rent Tracker
Ideal for landlords primarily concerned with rent collection, Rent Tracker allows tenants to make rent payments at any time and from any device, making it perfect for small real estate owners.
#4: Tenant Cloud
For property managers seeking more comprehensive support from their app, the Tenant Cloud mobile app handles all property management tasks, including processing payments and online applications, tracking invoices, adding listings, and managing work orders.
#5: Custom Instant App
A recent innovation in apartment management is instant apps. These require no downloads, installations, or any additional steps. With Instant Apps enabled on their phones, tenants can instantly make rent payments using Google Wallet. An added advantage is that your property becomes visible to all Android users with Instant App capabilities through HotPads.