Property management can get tricky, even with a single unit. Most landlords, around 55%, manage one or more, and often require the right tools for growing rental portfolios without losing sight of important management tasks. The good news is that there are many tools out there with the features any landlord needs, from the smallest single-unit businesses to the largest.
So, no matter what your growing property business needs, there is always a platform that can meet them. From tools that offer full automation to vacation rentals, here are some of the best.
TurboTenant – best for free, all-in-one management
As one of the leading free online property management services, TurboTenant has everything you need for rental portfolio improvements, including expanding services such as analytics. For feature-rich property management without a hefty price tag, there’s pretty much only one choice!
Standout features
- Free access to a wide range of property management tools that you usually pay for.
- A versatile built-in system for screening tenants that is paid for by the applicants.
- Easy online rent collection tools with automated tenant payment tracking.
Official website: https://www.turbotenant.com/home-page-t-ds1/
DoorLoop – best for automation and scaling
With an intuitive dashboard and reliable automation tools, DoorLoop is becoming one of the most popular platforms for landlord portfolios. A relatively new platform founded in 2019, it is one of the best for AI-powered solutions with global operations in over a hundred countries.
Standout features
- AI-powered tenant communication and maintenance workflow tools.
- Real-time financial reporting through an advanced full accounting suite.
- Easier landlord management with end-to-end lease, tenant, and maintenance tools.
Official website: https://www.doorloop.com/
AppFolio – best for large, professional portfolios
Landlords often need accurate data when managing more than one unit, and AppFolio offers some of the best analytics and reporting features. When managing larger portfolios, this kind of data can be a delight for professional property managers and large-scale investors alike.
Standout features
- Some of the most advanced property accounting and performance report tools.
- Automated tools for smarter rent collection and communication with tenants.
- Suitable for growing and large portfolios thanks to easily scalable infrastructure.
Official website: https://www.appfolio.com/
Landlord Studio – best for accounting and financial tracking
Landlord Studio isn’t the most comprehensive property management tool available, but it does excel with advanced financial and reporting tools. As such, it simplifies income and expenditure tracking, making it one of the handiest tools for landlords who emphasize accurate tax returns.
Standout features
- Fully automated and integrated income and expense tracking for clearer records.
- Intuitive dashboards for simplified rent collection and clear financial reporting.
- Incredible performance analytics that can even generate tax-ready reports.
Official website: https://www.landlordstudio.com/
Hemlane – best for hybrid property management
At the very least, property management helps you stay legally compliant, which is essential when growing rental portfolios. With Hemlane, you have access to both human and online support, helping you navigate some of the more complex tasks of rental property management.
Standout features
- Access to a nationwide (US) agent and repair coordination network for greater support.
- Outstanding tenant tracking and screening tools for managing risk and reducing costs.
- Easier rent collection with automated tools and maintenance management features.
Official website: https://www.hemlane.com/
Yardi Breeze – best for diverse real estate portfolios
Growing portfolios need a long-term solution that delivers, and Yardi Breeze is an excellent tool where scalability is a requirement. As part of the wider Yardi property ecosystem, you have access to a wide range of asset classes, including commercial, industrial, and residential.
Standout features
- Built-in lead tracking and marketing tools for potentially increased occupancy.
- Intuitive vendor and maintenance management systems for workload scheduling.
- Easier team-based workloads with customizable dashboards for property types.
Official website: https://www.yardibreeze.com/
Guesty – best for short-term rental portfolios
Landlords focused on vacation or serviced accommodation need a tool with a rich and specialized feature set. Guesty is a specialist platform designed for just that, and comes with an extensive set of tools with access to holiday listings sites, including Airbnb and Booking.com.
Standout features
- Access to a rich list of online vacation and serviced bookings sites, such as Airbnb.
- Automated tools for checking in guests and real-time guest communication.
- Revenue and performance analytics tools for multiple properties and listings.
Official website: https://www.guesty.com/
Smoobu – best for vacation rental owners
The right tools are essential for managing property, but sometimes you also need a clean and easy interface for basic management. Smoobu aims to simplify booking and channel management, making it a great choice for new and independent landlords with a few units.
Standout features
- Excellent channel manager for easier unit management across multiple platforms.
- Real-time automated communication features for easier guest management.
- An intuitive reservation system thanks to a centralized calendar system.
Official website: https://www.smoobu.com/
SmartMove – best for risk management via screening
You can find tenants without letting agents, but you still need the services that help you match properties with the right ones. SmartMove is one of the best around for reducing some of the associated risks of property management, not least screening and ID verifying tenants.
Standout features
- Features for credit checking, background screening, and even eviction reports.
- Integrated ID verification tools for enhanced insights into potential tenants.
- A pay-as-you-go, no-subscription service based on per screening charges.
Official website: https://www.mysmartmove.com/
Summary
Whether managing a small list of units or a large range across multiple cities, states, or countries, you need the right tools for growing rental portfolios. You can typically find what you need using any of the above platforms, all of which offer specific tools for any situation.
Tools such as TurboTenant are excellent for accessing a feature-rich, all-in-one platform for managing just about any property portfolio. Of course, you may also require access to human agents, and platforms like Hemlane offer a hybrid model for improved services. However, there is some risk involved in property management. Online platforms such as SmartMove come with tools for reducing risk, including credit checks, ID verification, and even pay-per-screening fees.
