The best property management software is designed to help real estate businesses, big or small, manage their properties without stress, struggle, or setbacks. Real estate might be considered slow-moving but it is in fact a highly competitive industry. In order to properly manage the properties under the business to make room for expansion, upgrading current systems is needed. Property management software is the solution to all of these problems as it helps businesses do more with less work.
Stop relying on manual, outdated systems and start improving the growth trajectory of the business through the help of property management software. In order to build toward the sky, it is important to have a strong foundation.
The Best Property Management Solutions to Use in Australia
- Best for Small Businesses: Console
- Best for Transparency: MRI Software
- Best for Scaling: Property Me
- Best for Businesses on a Budget: Appfolio
- Best for Intelligent Business Structures: Re-leased
Console: Best for Small Businesses
Why we like it:
- Makes file transfers easier
- Workflow is very thorough
- Portable and accessible
What users say:
“The system is very easy to use with information provided in a logical format, and updates/improvements are happening constantly.” – Rebecca T.
Console understands the struggles of small businesses when it comes to real estate. The property management software aims to help businesses through the confusing and time-consuming processes in the real estate industry. Instead of worrying about where to go, what to do, and how to do it, you’ll be able to collaborate, integrate, and even automate everyday tasks.
One prominent difficulty most smaller companies experience in the real estate world is that most of the requirements are done hands-on and this can be hard, especially for those that have not been in the industry for long. There are multiple parts of a real estate business that has to be handled including compliance, inspection, maintenance, leases, vacates, and more.
Instead of going back to that old stack of paperwork, Console helps manage everything through a simple platform. The property management software provides a way for businesses to come up with a very thorough and seamless workflow by eliminating the need for manual filing, document sending, and even checklist making.
Instead of writing down a “to-do” list on a piece of paper, Console helps businesses complete compliance tasks, and inspections, reduce arrears, and more. By providing a platform where everything can be automated, businesses will have better visibility regarding what has been done and what’s lacking.
Small businesses usually struggle with implementing the right system. While some businesses still rely on the messy manual process, Console offers a solution to help manage properties with ease through automation and more.
The property management software isn’t built for small businesses and once they grow, the system becomes outdated. Instead, Console evolves with the company and as more properties are added to the portfolio, the business will have better control, management, and visibility of all of them.
Console is a great way for businesses to upgrade their systems. Although on par with Appfolio, the property management software provides a more thorough guide which is most beneficial to smaller businesses.
One of the most unique features that Console offers is Console Pay, which allows agencies or businesses to directly debit all payments from the tenant’s bank accounts or credit cards in just a matter of minutes. The tool helps businesses relax since they won’t have to worry about one of the most daunting tasks of all, payment collection.
For businesses looking for an easy way to manage a few or multiple properties, look no further and start using this software to grow the company faster, stronger, and without resource wastage.
MRI Software: Best for Transparency
Why we like it:
- PDF and Excel reports supported
- Handles all ends of the business
- Great for keeping records
What users say:
“I use MRI Software to manage our fixed assets. I can look up net book value, disposal costs, depreciation, and create ad-hoc reports with ease.” – Patricia D
MRI Software understands the complexity of the real estate industry and is designed to help all angles of the business. Aside from managing the property, the property management software provides occupiers with access to lease management, lease accounting, space management, and more.
From solutions for owners & agents to solutions for operators & occupiers, the property management software covers all ends of the business and provides transparency and better communication through a seamless system. One of the largest stressors in the real estate industry is misinformation or misconceptions, MRI software aims to combat this with a platform that helps both ends of the business.
Most businesses don’t appreciate being bombarded by questions or inquiries from the other departments as they like to focus on management and growth. The property management software creates a system where everyone has access to the needed files, documents, and data for each department.
Instead of just handling the business side of things, the property management software goes above and beyond to ensure that even the tenant or property occupier side is also taken care of. Most businesses get the smooth side of the technology while the occupiers’ side struggles to keep up. With MRI Software, businesses can function with ease since the important information is stored in a place that is most accessible for both parties.
A real estate business can’t function properly unless the customers, or tenants, are also taken care of. Creating a healthy ecosystem can be hard work, especially without professional expertise which often requires top dollar. MRI Software is a cost-effective way to make sure the business is well managed inside and out.
MRI Software is also designed for businesses that are evolving. Due to its ecosystem, adding new properties to the portfolio and automating certain tasks becomes much easier since everything can be done with ease through the project management software.
MRI Software provides a more personal touch compared to Re-leased. Instead of just focusing on high-functioning systems, the property management software also makes sure the business maintains and nourishes relationships through transparency.
If your business is handling more heads than you can handle, stop wasting precious manpower and try out this property management software to see how it can impact your business.
Property Me: Best for Scaling
Why we like it:
- Easy information access
- Automation for fast-tracking tasks
- Caters to all parties
What customers say:
“The program is a gamechanger – it allows you to get more done in less time. With such up to date software – Property Managers have more time to do their jobs, allows them to communicate better with clients and keep everyone informed along the way seamlessly.” – Louise S.
Property Me is designed for fast-paced businesses which intend to scale fast and reduce costs while doing so. The property management software provides businesses with a great solution for automation, listings, and customized plan implementations to help businesses grow exactly the way they want to.
One thing that a lot of businesses don’t realize about growth is that in order to become bigger, they should first solidify the foundation. The property management software helps with handling high-priority, high-urgency tasks that are often repetitive in nature. Property Me aims to provide as much automation as needed when it comes to workflows in order to help the business scale as fast as possible.
The only way to go up is to build, and the best way to build is by automating most of the manual tasks. While some real estate businesses often go the route of hiring additional staff to deal with certain tasks, this can be hard for smaller companies or companies that can’t find a reliable person to carry out these tasks.
Another problem with leaving everything to the manual process is that it becomes vulnerable to error. Although errors might not happen all the time, the risk of errors happening with important tasks is just not worth it for any business.
The property management software doesn’t aim to replace employees, instead, it is designed to empower them by helping everyone in the business automate different routinary tasks in order to focus more efforts on the growth. While some businesses might find it hard to adapt at first, Property Me is designed for businesses so that when they adapt, they won’t have a problem scaling forward.
Real estate is a tricky game and can be hard to scale especially if the business hasn’t figured out how to manage it properly. Property management software can help companies move towards the next step by automating low-level tasks of high importance through the help of an innovative system.
Quite similar to MRI Software, Property Me also takes into account the tenant side of the business. Aside from transparency, the latter is designed in order to help businesses grow their portfolio step-by-step integrating new properties or units along the way.
Don’t miss out on your business’s full potential and start automating a lot of those mundane, routinary, and time-consuming tasks.
Appfolio: Best for Businesses on a Budget
Why we like it:
- Pay per unit
- Constantly updating
- Great portfolio management
What users say:
“Our experience with Appfolio has been great! It has created efficiencies within our single-family division that didn’t exist previously.” – Joe P.
Appfolio caters to real estate businesses that might not be managing multi-family apartments or dozens of houses. Instead, Appfolio charges businesses only based on the number of units they have.
When looking for a budget solution to managing property, Appfolio does an excellent job by providing customized pricing for users depending on how many properties they want to manage. One major deterrent for some businesses to using property management software is the pricing.
A common myth is that project management software is extremely expensive and a complete waste of money. There are certain providers like Appfolio that understand the struggle of businesses with fewer units to find a solution that will help them automate their system.
Instead of charging users a great deal for a maximum amount of units they won’t reach any time soon, Appfolio offers different plans to choose from with every feature from online rent payments and scheduled rent increases to workflow management and even performance insights. With this property management software, not only will the units be managed, but also the business as well.
For companies that are still in the process of growing the business, eliminating unwanted costs is a great way to boost them forward. The good thing about Appfolio is that it can cater to any business, no matter the number of units they are managing.
A budget software doesn’t have to mean that features are lacking. Appfolio provides users with options for a Core or Plus plan at low prices per unit which allows businesses to save a lot of money especially if they are not yet handling three-digit units.
When compared to Property Me, the pricing for Appfolio is way lower. Instead of having to pay a fixed amount to operate a maximum set of units, the latter provides businesses an option to only pay for the number of units they are managing to help them save a significant amount.
Upgrading your systems with automation through a property management software doesn’t have to cost a fortune. Start transforming your business without breaking your budget.
Re-Leased: Best for Intelligent Business Structures
Why we like it:
- Responsive and professional customer support
- Great time-saver
- Seamless UI/UX
What users say:
“Our ability to work with investors, manage multiple portfolios and multiple trust accounts has been made easy. The information is presented in a clean user-friendly format.” – Prashanth P.
Re-Leased is a powerful tool designed for businesses that already have a strong structure but still lack the automation and the ability to create a seamless business system. The highly versatile property management software provides modern tools for modern businesses by providing cloud-based solutions, eliminating double entry, and creating multi-layered reports.
The best project management software varies from business to business since some businesses require software that makes their life easier while others require software that helps improve their already effective systems. For businesses that aren’t starting from scratch and are in the process of aggressive growth but struggle to move forward, Re-Leased is designed to empower that company to help the business put its focus on expansion.
Some real estate businesses already function on a highly-intelligent system that has proven effective. What could be lacking? System integration. Re-Leased is designed to help take those powerful systems and upgrade them through automation, error-control, and versatility.
Businesses aren’t always built the same with some of them only lacking a slight improvement when it comes to efficiency to boost them to the next level. Re-Leased is designed to help with that process and focuses most of its features on pushing the business forward.
The property management software also comes with technical support that provides attentive insights to help businesses notice which parts they lack or which parts they can improve on. Growth doesn’t always happen by completely revamping the system, sometimes it comes when the system itself is enhanced to its full potential.
Sometimes a business can do all the right things and still feel stuck. With the help of property management software, the business can start automating different tasks in order to take a step back and fully assess what’s holding the company back from its full potential.
Re-Leased focuses on clients with complicated systems. When compared to other property management software like Console, it is capable of more advanced systems for businesses that already have a solid foundation.
If your system already works but you want to improve it, stop trying to change it. Enhance your system with the help of the right property management software for your business.
How we Pick the Best Property Management Software
Instead of making a list based on Google, we talked to actual property managers, real estate agents, and even investors in Australia about their best practices when it comes to managing and growing their real estate businesses. After taking note of what really matters, we then looked at all of their recommendations to find out which software works best for which businesses.
We created a list of 12 software and narrowed it down to the top five before cross-checking them with actual businesses that use them. After we confirmed their quality, we dug even deeper and cross-referenced the professional opinions with review aggregators like productreview.com.au in order to vet which software is best for what purpose. Finally, we came up with a list of the best of the best property management software to help businesses manage the ins and outs of real estate.
After we came up with the best five, we then compared them with one another in order to conclude which property management software is best for which types of businesses.
Property Management Software: Buying Guide
This section is designed to help real estate businesses make the right choice when picking out product management software. By following the guide below, you’ll be able to determine which choice is best for your business.
What to Look for When Choosing a Property Management Software
Before making a choice, check out the following features to look for when picking out the perfect property management software for your business:
When choosing property management software, it is important to take into account the technical capacity of your team. Although it would be nice to get the most advanced software, if the team cannot fully utilize it or if the team struggles with using it, this could result in problems for the business.
Try demos or contact the property management software directly to know whether it will be productive for the business. It is also important to take into account that with all software, there might still be an adjustment period. Look for software with responsive customer support to help your business transition.
If the business is already using different software for other departments like accounting, it is important to first clarify whether the property management software can integrate data from a third-party provider.
This is usually a feature that a lot of companies underestimate leading to them having trouble with the integration process. Without a property management software that can integrate seamlessly into existing software, businesses will have to manually input data one by one which can be problematic for businesses that have been running for over five years and have a significant portfolio.
Is the data stored in a cloud solution? This is a very important question to ask the property management software before engaging in their business. Since information is very precious, make sure to inquire what will happen to the data should the system incur errors or how can the backup data be stored.
Since real estate files and documents are extremely important, one best practice is to download the reports through PDF or Excel form if available to store just in case a shutdown occurs. Ask the provider if they support file exports in whatever formats and if it is possible to have a copy on a regular basis. Most property management software makes sure to store data on a secured network that cannot be deleted or corrupted.
One major advantage that businesses get when using property management software is the ability to create reliable reports. From analytics to data presentation, the software should provide features that allow users to make reports for clients, partners, or other departments within the business.
Reporting is important for transparency, data-tracking, and planning. A property management software is designed to help with the report-making process by allowing users to pull out data from the data automatically instead of having to manually input information from tenants, properties, units, and more.
Access to real-time data is very advantageous, especially for businesses that require workers to be at different locations at the same time. With the help of real-time data, businesses can help each other or monitor the management process to make sure inspections and compliances. A real estate business can only be successful if the data is inputted correctly. The good thing about real-time data is that it provides the business with flexibility allowing the manager to check up on the inputs without having to be on site.
This is an extremely useful tool for the management part of the business since both the employee and the manager can access the same checklist to make sure the homes are properly inspected or compliances are properly followed. Property management software is also designed to help automate the process, when data is inputted, it should also reflect other parties using the platform.
A vital element of property management is being able to search for specific properties without having to search for them manually. Instead of a list, the right property management software should provide a search option, especially for businesses that handle multiple properties or units at the same time.
This particular feature is designed to help businesses avoid looking up data from the wrong property or spending more time than preferred when looking for specific data from a specific property or unit. Property search is a great time-saver, especially for medium to large real estate businesses.
Before subscribing to any property management software, make sure that their asking fits the budget. The worst thing that could happen to a business is overspending on software that is not used to its full potential. Aside from increasing inflow, one of the best business practices to help increase revenue is to decrease expenses. Although property management software is designed to help a company save, it is important that the asking amount of the software is still within the company’s budget.
For real estate businesses handling a smaller number of properties or units, it might be more practical to pay per entry instead of paying for a property management software that provides a fixed price for a maximum number of entries. Different providers have their own different price points, some providers are flexible with prices and the business can discuss with them which plan is best for them.
Benefits of Using Property Management Software
Real estate businesses that modernize their businesses with the help of property management software usually enjoy a wide range of benefits to help them manage, understand, and grow the business. Here are a few ways property management software can upgrade your business:
The most obvious way that property management software helps a business grow is its ability to help save time. The software is designed to automate mundane, repetitive tasks and also help ensure information is inputted directly in order to minimize backlogs later on. Businesses benefit from property management software through receiving automatic payments, real-time data, creating instant reports, and more.
Due to automation, property management software is an ideal tool to help businesses smoothen transactions. Instead of having to coordinate with every single tenant or client, the software allows automatic payments, reminders, memos, and announcements to be sent back and forth. It can also hold important files and documents to help streamline the process whenever information is requested.
Instead of having multiple files for multiple tenants or clients, imagine seeing them all in one singular database. Property management software provides businesses with the best overview of their business as a whole. Managing maintenance, vacancies, inspections, and other compliances helps the company save time and valuable resources instead of having to go back and forth.
Property management software can also be used for screening tenants or clients. Businesses can check how often they require maintenance, find out whether there are any problems with payments, and see which clients are the least stressful to deal with. The screening process helps the company familiarize every aspect of the business both internally and externally.
Communication is often the key to success and this is why property management software makes sure that information is sent where it is needed when it is needed. Being able to access information or contact the respective parties is very important especially when certain instances occur. Instead of struggling to find the right tenant or client information, businesses can use property management software to send notifications or contact them directly.
Reduced admin work
The main goal of property management software is to reduce the traditional admin work to allow businesses to focus their resources on expansion. While management is still a huge part of the game, a business won’t be able to grow unless it automates or simplifies certain systems. The software is great at assisting users with admin tasks allowing businesses to free up space for other more pressing matters.
Files, documents, and data are the bread and butter of a real estate business. Without being able to store them in a secure location, the business risks falling into chaos should confusion occur. Instead of manually storing data on paper which has a higher chance of either getting mixed up or lost, spread the data across different secure channels with the help of property management software.
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