How to pick the best property management software in 2024

In the world of property management, the challenge isn’t just about managing properties, it’s about managing ourselves. In an industry where every second counts and burnout is more than a mere buzzword, the quest for picking the right tool is so important to reduce excessive workload. Bidrento took a deep look into some of the well-known names from property management software companies and how they compare so you could make a preferred choice.

Most critical features for property management software

Before we delve into comparing the leading PropTech solutions, let’s start by examining the most critical features for landlords and property managers that could be most valuable during their workday.

• Possibility to send out all invoices correctly, on time, with accurate amounts, indexed, and in the tenant’s language.
• Get the money home faster in a way that all the payments are matched with the right invoices and everything is synced with accounting.
• Expedite the tenant acquisition process and streamline the digital agreement signing process to be able to go fully paperless.
• Provide tenants with a single centralized online platform(application) in their preferred language, offering comprehensive answers and access to all their needs while occupying rentals.
• Maintain up-to-date data in various currencies while also generating pre-made reports with forecasts.
• Improve sustainability initiatives e.g having access to CO2 reports and keeping building maintenance plans up to date.
• Keep all of the team members and departments up to date and automate unpleasant and boring tasks.
• Possibility to seamlessly integrate currently used tools e.g. Google Calendar, SAP, booking.com to enhance productivity and efficiency.

In a landscape where many PropTech solutions only tackle certain aspects, the essential factor is selecting a vendor tailored to meet your business demands. 

Compare property management software

Choosing the best property management software requires careful consideration of your specific needs, the features offered by the software, and how well it integrates into your existing systems and workflows.

Property management software comparison

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Product features

Bidrento property management software and tenant app

Bidrento’s all-in-one approach, adept at handling both long and short-term rental management, positions it as a versatile and comprehensive tool in the property management sector. The offering of a 14-day free trial allows potential users to experience its full suite of features firsthand. Flexible pricing structure, which eschews annual contracts in favor of a monthly, unit-based model.

In an era where digital interaction is increasingly preferred by tenants for activities like communication, maintenance requests, and lease signing, Bidrento’s Tenant portal and app align perfectly with these evolving consumer preferences.  Furthermore, Bidrento is committed to sustainability by integrating CO2 emissions reduction tools into its Tenant app and web. 

Bidrento offers various options for calculating utility bills, tailored to specific region e.g Germany, Scandinavia, and the Baltic region. Provides system languages in English, German, Polish, Finnish, and Estonian, and the product is used in more than 10 countries. Plus, Bidrento provides seamless access to live bank feeds from over 3,000 banks, ensuring financial transactions are effortlessly managed. Additionally,  two-way API integration is designed to work smoothly with your accounting software, whether it’s a widely used platform like SAP or a smaller regional provider to  enhance efficiency and connectivity across your operations.

Arthur Online

Arthur Online is a cloud-based property management software tailored for landlords and letting agents to manage property portfolios from 25 to 300 units.  With an open API, it enables integration with Zoopla, Rightmove, and OnTheMarket, among others. It is perfect for businesses already using Xero as their accounting software, as it does not support integration with any alternative accounting platforms. 

Arthur offers features to streamline the management process. These include tenant management, streamlined rent collection, maintenance tracking, and marketing tools. Arthur offers three distinct bundles, and the pricing varies depending on the number of features included in each package. Solution has 100k+ units listed on the platform and primarily focuses on the UK market.

Appfolio

AppFolio provides property management solutions through a suite of self-service online tools. These include owner and renter portals, online applications and leases, online payment processing, built-in screening, and maintenance request management.

Additionally, the platform offers mobile inspection capabilities, bulk text messaging, and  accounting and reporting features. AppFolio caters to a diverse range of property types, including apartments, residential properties, commercial spaces, council properties, and student housing. Appfolio offers three distinct bundles, and the pricing varies depending on the number of features included in each package. Primarily serving the U.S. market.

MRI Software

MRI Software delivers technology supported by an open and connected ecosystem that supports real estate companies globally. Originating in Cleveland, Ohio, MRI Software was among the pioneers in serving the real estate market in Australia and New Zealand.

The company has a diverse client base spanning various industry sectors. MRI does not offer bundled packages; instead, they provide various software tools from which customers can choose. As a result, pricing may be less transparent.

Yardi Breeze

Yardi Breeze is a property management software designed for small to midsize businesses, catering to both residential and commercial portfolios. The software streamlines property management processes by providing built-in features such as accounting, online marketing, leasing tools, tenant screening, and insurance options. This eliminates the need to integrate external tools you may currently be using.

It aims to simplify rent collection, service requests, payments, and owner reporting through its online portals. Yardi offers two pricing options: Breeze, which includes standard features, and Breeze Premier, with various add-ons including utility billing.  Yardi is founded in the U.S and has global operations. 

Unmatched ROI with Bidrento

In a sea of similar offerings, it’s the nuances that matter. At Bidrento, we’ve meticulously crafted our product to meet the fundamental requirements of modern property management, suitable for both long-term and short-term ventures. 

Our focus? Delivering unmatched ROI. Imagine investing a single euro in Bidrento and witnessing a return of 3 to 5 euros within a year, all while enhancing your team’s productivity and expanding your portfolio in a sustainable manner.  Join the ranks of top-tier property managers and investors in residential rental property; CRE; student housing; self-storage and other sectors managing over 100k units with Bidrento. 

Ready for a game-changer? Book a LIVE demo with our consultants and see how Bidrento aligns with your property management needs.