Top 5 Best Property Management Software in 2020
(Photo : Top 5 Best Property Management Software in 2020)

Most present day processes and transactions are now being done digitally. The use of paper has been scrapped (pun intended) and going paperless is now the go-to trend. Property management is not an exception. In fact, Property Management via SaaS or Software as a Service has proven to be most efficient and effective in delivering the demands of customers. The rise of successful transactions and satisfied customers resulted from having real-time responses. Real-time analytics and tailored tools that are included in software packages are essential to reducing risk of losses, doubled listings, and other unwanted results. As such, customers now prefer a property management system that is automated and more precise in targeting solutions.

Upon comparing different property management softwares, there are five platforms that prove to be best.

1. Hotello

Hotello

Mingus Software, a North American company specializing in artificial intelligence and hospitality technologies, is the maker of Hotello which turned out to be one of the most complete and elegant property management solutions in the market to date. With 20 years of experience, the company continued to grow, establishing bases around Canada, the USA and Europe. It is no wonder that clients return as loyal customers as the ideal customer experience is provided by the services that simplify the complex processes of property management. Renowned and rated establishments including hotels and resorts with three to 5-star ratings - most with room counts between 30 to 1000, such as The Residences at Telus Sky, Guesthouse Hotel Chicago, Mount Stephen, Monville Hotel, and Vance Creek Hotel are a few of the loyal and returning clients that utilize Hotello to optimize property management.

In 2017 and 2018, Hotello has proven to be a platform worth of recognition as it garnered the Master position and Leader position respectively during the FrontRunners Quadrant for Hotel Management Software annual events. Hotello takes pride in the two decades of established property management software in North America, adding that, as first-class providers, their quality software will be the last software clients would ever need.

In 2019, TechTimes has nominated Hotello for the title of Best Hotel Management Software.

Hotello is acknowledged by the Expedia EQC QuickConnect Preferred Program as the first PMS supplier worldwide, along with being the first to launch self-check-in kiosks in North America. The platform is also being compared to famous software such as Opera.

Notable Features: Hotello is the number one choice for customers because of its efficient and user-friendly interface. The advanced software features have reportedly aided in determining the best decisions, simplifying properties management tasks.

For example, Hotello demonstrates business intelligence as the property management software now serves as the center for operations. It collects and stores powerful data which are used for creating personalized reports. Emails can be scheduled automatically, eliminating the need to go through reminders, invoices, guest satisfaction forms, and night audit reports manually. To further highlight its efficiency, the automating feature also allows for self-check-in kiosks, web check-in, and secure online payments. Creating and selling online multiple complex packages is made possible by Hotello's feature.

For most property managers, it is important to monitor yields and performance indicators as these could improve and determine the best strategies and the next steps to take to achieve profitability. As it happens, Hotello is equipped with a state-of-the-art Yield Management feature that analyzes and presents occupancy rates, ADR, RevPar, and many other performance key indicators. The platform is also geared to show forecasts, and compare data from past years.

When it comes to housekeeping features, the platform is capable of assigning a room to a specific attendant, improving efficiency as fewer work steps will have to be done by the staff.

Hotello has associated interfaces such as a housekeeping mobile application, self-check-in, and check-out kiosks, email marketing platform, and a booking engine and channel manager. Not to forget that the platform also has an integrated payment solution, online training, and a guest experience tool.

Customer Service: Hotello reassures that customer care agents are always available for discussing concerns, dedicated to finding solutions, and efficient in assisting the platform users. Furthermore, Hotello customer service specialists are equipped with experience and knowledge in the hospitality industry. Hotello utilizes feedback, concerns, and questions from customers to further improve and optimize the platform in order to meet their real needs.

Partners: Hotello is working with high-quality partners such as Expedia, Synxis, Innspire, TravelClick, iHotelier, TrustYou, and many others with the same vision. The interconnection between the solutions of Hotello and its partners have formed a harmonious ecosystem. As a result, only the best competitive advantages are offered by Hotello to its customers. Request a personalized demo now and see why everyone is talking about Hotello.

2. Buildium

Buildium is a RealPage Company founded by two property managers who started with tracking their processes by using spreadsheets. The co-founders later figured out a way to simplify the process, making management easier to control.

Other than partnering with HappyCo and Adobe Document Cloud eSign Services, Buildium also won two Stevie awards, was recognized by Inc. 5000 and by Deloitte's Technology Fast 500. It also earned the "Leader" position for property management software as awarded by Gartner's Frontrunners Quadrant.

Features: An overview of the Buildium property management software features include Growth, Accounting, Business Operations, Leasing, and Benefits. For growth-oriented companies, Buildium provides a pay-per-lead advertising solution. Retail Cash Payments, 1099 eFiling, Online Payments, Company Financials, and Property Accounting are all covered by the platform, dispelling customer worries on accounting matters.

Owners, renters, vendors, and tenants will be able to communicate by utilizing Buildium as a central place for transactions. Platform users will have access to the Resident Site, Owner Portal, Document Storage, Maintenance and Request Tracking, Property Inspections, and Renters Insurance.

Screening for better tenants is another notable feature for Buildium. Leasing matters such as organized Rental Listings, Rental Applications, Showings Coordinator, Tenant Screening, and eLease are all included in the platform. As a bonus, Buildium also offers a Professional Website for customers to build their brands.

Other features include community association management and benefits for customers such as data security and cost-saving calculators.

3. TenantCloud

TenantCloud is a rental accounting software designed to assist landlords in managing their property. TenantCloud is available in more than 40 countries, establishing its presence within 6,000 cities, and serving over 300,000 managed properties. TenantCloud aims to save time for landlords while improving the functionality of their business.

Features: TenantCloud is a free Cloud Service with separate and personal portals for Landlords, Tenants, and Service Professionals. Using TenantCloud gives access to information such as store rental rates, transactions such as collecting rent online, and actions such as uploading moving in/out photos and managing maintenance requests.

Being a landlord would be a breeze with the features of TenantCloud property management software. With the tools available on the platform, landlords will be able to perform tasks from checking on online payments to team management, and even access on-demand printable reports with ease. In turn, tenants could transact online payments via TenantCloud, update their renter profile, and track their renters' insurance. As for service professionals, TenantCloud offers a tool so that they could be paid online. The platform also allows service professionals to create a business profile for free and to communicate with their clients.

To top it all off, TenantCloud offers lifetime free use for DIY landlords managing a small number of units.

4. AppFolio

AppFolio is built to assist property managers who take on various types of properties. The software could be used to manage properties from single to multi-family properties, student housing or condominiums, commercial properties or it could be used to manage organizations such as HOA (Homeowners Association.)

Features: AppFolio has tools for Accounting and Reporting, Residents and Leasing, Marketing, Owners, Maintenance, and Support. Customers are fond of the accounting feature, describing AppFolio's accounting system as logical, straightforward and easy to understand.

The platform offers solutions to different portfolio types.

For residential, AppFolio has tailored features to manage either single-family or multi-family properties. Tenants and managers will be able to transact easily with features including one-click vacancy posting, online applications and screening, online leases, online rent payments, automated late fees, accounting, online maintenance, and mobile inspections.

AppFolio for commercial properties includes features where managers and tenants will be able to keep track of essential items such as bills for the common area and rent schedules & increases. Managers can create reports in the format they need while the tenants will be able to pay their bills without having to fall in a long line.

Other features include separate leases and ledgers for each bed when using AppFolio for student housing, and board member management when using the platform for homeowners association management.

5. Rent Manager®

Rent Manager®, created by London Computer Systems (LCS), is an advanced software designed to aid in property management. The goal for the developers was for Rent Manager® to be completely contained. Property managers that utilize the platform will no longer have to turn to multiple programs and multiple databases.

Features: Rent Manager boasts of being an all-in-one solution for portfolios of every size and type. The platform covers accounting for advanced property management, open API that can synchronize with any technology vendor, revenue management, budgeting and forecasting, and work management orders. Rent Manager also has a task automation feature that will enable the property manager to streamline numerous routine tasks, including recurring charges and monthly fees.

A notable feature that Rent Manager offers is its unique customization where users of the platform will be able to make adjustments from data fields to reports and documents. This feature is most useful to target the specific needs of each portfolio. Right up the list with customization is the integrated program for accounting, a useful array of tools for keeping track of accounts, both for the manager and the tenant. The accounting tool covers accounts payable, receivable, electronic bank reconciliations, and online payment processing. In addition, Rent Manager provides built-in reports in over 400 formats, reassuring that data is ready for presentation or viewing at any time.

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