Selecting a property management software platform can be hard work. Choosing among a dozen highly rated platforms becomes overwhelming quickly.
If you’re shopping for property management software, you probably have a lot on your mind. First, you need to identify which features and functions are priorities for your rental business. This is important because many platforms have feature-based pricing models. You don’t want to pay for unnecessary features if you aren’t going to use them.
Next, you’ll need to consider pricing. You might have a set budget for your software tool, or maybe you’re willing to pay whatever is necessary for professional rental management. Rental property management software companies use several different pricing models, so look for how often you’ll be paying and what each fee is for.
Lastly, find out how the platforms stack up against each other. Reviewing ratings and reviews can give you a good idea of which platforms users prefer.
What follows is a brief overview of two property management software platforms: TurboTenant and Innago. By learning about these two companies’ features, pricing, and ratings, you will hopefully have a clearer idea of what kind of platform is right for your business.
TurboTenant offers all the basic property management features, including rental applications, tenant screening, online rent collection, rent reminders and receipts, custom lease agreements, eSignatures, document management, and maintenance requests.
TurboTenant also offers listing syndication on Realtor.com, Rent.com, Facebook Marketplace, and other sites.
One unique feature of this platform is that the software automatically performs credit checks when renters submit applications. This feature streamlines the application process by allowing you to compare tenant credit histories and income instantly.
On TurboTenant, it’s free to sign up and make an account. Free users can access most primary features, including applications, screening, online rent collection, rental advertising, tenant communication, and document storage.
The platform also offers some optional, one-time purchases. For instance, customizable, state-specific lease agreements cost an extra $29, the eSignature function is $9, and the Forms Pack (32 useful forms templates for landlords) is an additional $99.
Since TurboTenant doesn’t charge the majority of its clients, a few small fees are assigned to tenants. For example, tenants pay a $45 fee for credit and background checks as an initial “application” fee. If you already charge an application fee or want to cover this expense yourself, TurboTenant can accommodate these circumstances.
Tenants also pay 3.49% on any credit/debit card payments they make on the platform. If your tenants complain about these fees, encourage them to pay with ACH transfers, which are free. Finally, tenants can purchase optional renter’s insurance through SURE, starting at $8/month.
TurboTenant has moderate to high ratings across review platforms. On the big three review sites (Capterra, G2, and Trustpilot), TurboTenant scores 4.8, 4.5, and 3.6, respectively. The company’s number of reviews also varies at 49, 5, and 96, respectively.
Innago offers many of the same features as TurboTenant. Its primary features include online rent collection, tenant screening, maintenance management, tenant communication, and lease signing.
Innago also offers secondary features at no extra cost. These include multi-user management, rental advertising/listing syndication, a mobile app, renter’s insurance, and responsive support.
Innago software is completely free for landlords. Even features that TurboTenant charges for (eSignatures and lease agreements) are free for landlords on Innago.
How can a software company make a profit by offering its services for free? The answer is similar to TurboTenant’s method, by distributing small fees across tenants when they make purchases on the platform. For instance, Innago collects a small fee whenever a tenant buys renter’s insurance on the platform.
Despite being a relatively new company, Innago is highly rated on major review sites. On the big three, Innago is rated at 4.9, 4.8, and 5.0, respectively.
Because free property management software is so rare, Innago attracts a range of landlords who want the benefits of software without the high costs. The platform’s exceptional user experience and responsive customer support contribute to its growing popularity.
What is the Best Property Management Software?
There’s no such thing as the best property management software for all landlords. Your individual needs and preferences will inform your final decision. So long as you keep track of the features, pricing, and ratings you want from your software, you are bound to find an option that’s right for your business.