Open source property management software download

Real estate property management is a tedious task simply because of the lengthy checklist involved. Landlords need to regularize a property’s timely inspection before listing it for rent, process tenant management, collect payments, record incidents, and so on.  

Real estate properties were managed manually till a few years back. . However, this model is not feasible in the 21st century. Inadequate tenant verification and financial recording, time-consuming administrative tasks, and constant tenant-landlord miscommunication are some of the challenges.

Real estate property management software is a digital-first solution for all landlords and property managers. It addresses the need for a complete, rounded answer to essential property management needs. It helps streamline their business, and build excellent relationships with their clients.

This blog is a gateway to understanding the free and open source Real Estate Property Management Software available in the market. It highlights the critical benefits, features, usage, best practices, trends, and customer-centricity of the online real estate property management tools. So, what are you waiting for? Read on below to gauge the best free and open source real estate property management software.    

Trends in Real Estate Property Management

Real estate property management is undergoing a revolution of sorts. Real estate property management solutions are getting innovative by offering multiple technical enhancements and functionality previously unseen with the world moving to a digital model. Some of the biggest trends in real estate property management are as follows: 

  • Rise of Automation – Payment reminders, tax notifications, maintenance alerts, and other administrative procedures are simple to do and need minimal human assistance. 
  • Application Integrations – Third-party software additions and extensions increase the core functionality of the real estate property management tool (e.g. landlord-tenant instant communication)
  • Verification Tools – Rather than just rely on manual verifications, real estate property management software offers digital verification of tenants through social and public IDs. It helps landlords narrow-in on tenants with clean financial and personal records reject those with a history of rental problems.
  • Property Management Analytics – A deeper insight into how leased property is performing for the landlord and how best to improve tenant retention or property preference
  • Virtual Tours and Leasing – Prospective tenants can look the property up on real estate platforms, and landlords can facilitate a virtual screening/display of the property to ensure tenants act quickly and efficiently if they need the real estate property. 
  • Seamless Payments – Advancements is digital payment platforms that ensure a secure, robust, convenient, and rapid method to transact directly between tenants and landlords on the real estate platform itself

In a recently published study, 45 percent of property managers cited ‘residents’ as top priority – reducing the importance of profitability, and efficiency for the first time ever. This shows the changing market conditions and the importance thrust on good renters. Furthermore,72 per cent  property managers are seeing their teams work better remotely, leading to expert level services without comparise from anywhere. Finally, 44 per cent of property managers polled in the study believe their customers feel happy, safe, and believing in the capability of their landlords or managers, especially after using good property management software.

Trends in real estate software management

What is Real Estate Property Management Software?

Real estate property management software helps businesses and individuals alike create value and elevate performance. Real estate property software is a suite of digital tools, applications, and features which collectively help landowners or landlords list and rent, maintain and inspect real estate property in the most efficient manner possible. 

The real estate management software solution combines automation, easy to use interfaces, application integrations for enhanced features, and enterprise-grade security. Besides, these features real estate property management solutions offer a centralised document storage hub, a dedicated portal for owners to create, modify and execute property actions, and manage multi-property tenants without leaving their office. A secure payments gateway also helps owners accept rent and advances via the online real estate property management software, optimizing landlords’ working.        

Ensuring Safety via Deployment of Real Estate Property Management Tools

Customer safety is a top priority in the real estate property management industry. Real estate property software inducts several features that verify tenant details and, simultaneously, insure the property. 

  • Tenant Screening and Verification – Renting properties ensures a source of income for the landlord. Therefore, the type of tenant renting the property is critical. Tenants must be compliant with house rules, as the safety of property is vital. 
  • Tenant Credit Net – The renter must have a good credit history. The economic safety of the landlord is critical. The tenant credit checker completes this process for the landlord. 
  • Document Storage – Regulation via user access authentication to important lease agreements is an absolute necessity. Enterprise-grade security of stored documents and an uncompromisable messaging platform is also vital for the tenant-landlord relationship’s security. 
  • Safety of Transactions – All financial transactions between tenants and landlords must be secure to prevent sensitive financial accounts information leakage. All real estate property management software is safe enough to prevent hacking, snooping, and data leakage.        

customer satisfaction with real estate property management

Customer Satisfaction and Well Planned Real Estate Property Management Solutions

The best real estate property management solutions create customer value on both sides of the table – landlords and tenants. The software helps owners list verified and detailed rental listings on platforms. Rental listings are rich, each with their interactive images, real-time price listings, etc. The necessity to involve real estate agents and negates the aspect of the commission. 

It also cultivates leads for the landowners and helps engage prospective tenants with built-in Customer Relationship Management (CRM) tools. These online real estate property management software features often improve leads and offer to engage both parties on the platform in an initial exchange of information. The software Offers Tenants and Landlords the chance to tour a property before shortlisting virtually – which saves time, money and effort. 

Tenants also benefit from real estate property management software. All direct conversations with the landlord or property holder reduce miscommunication chances and increase trust thanks to recording the messages.  Also, automation of rent reminders on a particular date ensures the tenants always know when the amount is due. The landlords need not constantly ring-up or turn up at renters’ accommodation. Most real estate property software also links with payment gateways to facilitate the smooth and transparent transfer of funds, smoothening the entire rent collection process.

Best Real Estate Property Management Software Features

Real estate property management software is indispensable to users owing to the following features: 

Cost saving features of real estate property management software

Advantages of Real Estate Property Management Software

Real estate property management systems have quickly become indispensable to landlords looking at quick churn of property and extracting the maximum value out of tenant relationships. Some of the most significant advantages of real estate property software are as follows: 

Advantages real estate property management software    

Are There Viable Free and Open Source Real Estate Property Management Software in the Market?

The real estate property management software market is replete with terrific options that provide the balance between price, deployment, and features offered. Let us take a closer view of the free and open source real estate property management software segment below the options available. 

Comparison Chart of theTop 7 Free and Open source Real Estate Property Management Software

comparison table of real estate property management software

* Free trials

OpenMAINT is a free and open source of real estate property management software. It comes under the umbrella of a Computerized Maintenance Management System (CMMS). Providing complete solutions for all company assets’ economic, logistical, and maintenance activities, OpenMAINT is an online real estate property management tool that assures users of secure data storage and a workflow analytics engine to optimize process flow. Email notifications are inbuilt, while CSV data import and exporting tools are present in the open source real estate management solution. The software’s open source nature enables customizations of several aspects, while automation benefits optimal process execution. Visualized data reports are a significant advantage for strategic decision making, while there are dedicated self-service portals for landlords and tenants. Also available are barcode and QR code identifiers, while there remains an audit trail to record process changes.  

open maint real estate management software

Source – OpenMAINT 

The outstanding features of OpenMAINT are: 

  • Document storage
  • Online payments
  • Owner portal
  • Property Inspections
  • Property accounting
  • Rental listings
  • Tenant screening

Property Matrix is an open source real estate property management software. The Online real estate property management tool promises an easy to use interface, integrated with zero cost and secure payment options. The software is easily customizable, with users’ preference to decide payment structures, property pages, and reports, besides other fields. The real estate property management system offers comprehensive document management tools, ranging from document scanning to electronic signature. A central communications hub helps bring tenants, landlords, and other stakeholders onto one platform. Dedicated property portals also help users evaluate property and landlords to post rental openings. A vital advantage of the open source real estate management solution is its capability to produce automated, customized reports and perform other administrative tasks.      

Property Matrix real estate software

Source – Property Matrix

The standout features of  real estate property management software Property Matrix are:

  • Document storage
  • Online payments
  • Owner portal
  • Property Inspections
  • Property accounting
  • Rental listings
  • Tenant screening

ManageCasa is a free property management software with real estate property management features. It includes support for listing and hosting multiple properties – for small, medium, and large scale enterprises. It has a dedicated landlord and tenant portal and support for online transactions and financial audit ledgers. The real estate management software solution handles secure file and task management while an inbuilt messaging tool facilitates dialogue between landlord and tenant. ManageCasa supports unlimited users, and the online real estate property management tool promises mobile application support with easy property document management. 

Managecasa real estate property management software

Source – Managecasa

Managecasa has the following real estate property software features: 

  • Document storage
  • Online payments
  • Owner portal
  • Property Inspections
  • Property accounting
  • Rental listings
  • Renters Insurance
  • Tenant screening

Innago is a free real estate property management software. Right away, it promises automated communication and reminders – rent, maintenance, lease/rent agreement expiration, etc. The real estate property management solution supports all property types for listing, while the firm also promises companies customizable software forms and process flows. Innago assures users of secure data management and electronic signatures for important documents. If you are looking for real estate property software that has Quickbooks integrations and mobile application-based lease signing, then you are in the right place. It also has automated eviction checks and a transparent tenants hub – for maintenance and rent requests. 

Innago real estate property management software

Source – Innago

Innago’s feature-laden online real estate property management tool includes: 

  • Document storage
  • Online payments
  • Owner portal
  • Property Inspections
  • Property accounting
  • Rental listings
  • Renters Insurance
  • Tenant screening

Rentec Direct is a free trial based real estate property management software. The real estate property software firm offers free support and top-class operational features such as – a dedicated owners portal, maintenance and order tracking, and independent product microsites. The real estate property management system integrates with several leading payments platforms for secure, online transactions (including Quickbooks), while lead generation helps landlords attract and retain the best tenants. The software comes preloaded with the best in class e-filing accounting system – 1099-MISC – while document storage and sharing are readily feasible. The free real estate property management software automates several tasks – rent increases, rent reminders, and ledger synchronization. 

Rentec Direct Real Estate Property management software

Source – Rentec

Rentec is renowned for having the following real estate property management software features: 

  • Document storage
  • Online payments
  • Owner portal
  • Property Inspections
  • Property accounting
  • Renters Insurance
  • Tenant screening

Onsite Rental Property Manager is a free-trial based real estate property management software. The online real estate property management software comprises a tenant portal, where renters or leasers can place maintenance requests and make rent payments. This real estate property management system also has an online application tool that is easy to integrate into online listings. If you require real estate property software with a  dedicated communications setup, secure document storage, and proper billing and invoicing, look no further than Onsite Rental Property Manager. This real estate property management solution links multiple administrators and tenant reports through automation, gives landlords a clear insight into property management and offers a postcard printer. The platform is easy to use thanks to its rental terms administrator, user authentication measures, and paperless reporting. 

Onsite real estate property management software

Source – OnSite Real Estate Property Manager

The outstanding features of OnSite Real Estate Property Software are as follows - 

  • Document Storage
  • Online Payments
  • Owner Portal
  • Property Accounting
  • Renters Insurance
  • Tenant Screening

Property Manager Cloud is a free-trial based real estate property management software. The software is not only easy to use but promises an eco-friendly and paperless document storage setup. Users will find the real estate property software easy to use through its user interface. It also supports the fluid onboarding of tenants, a dedicated communication platform, and property income analytics tools. This real estate property management software comes equipped with a property lease creator, automated rent collections through secure payment portals, and free support. 

Property Manager cloud

Source – Property Manager Cloud 

The features that make Property Manager Cloud a viable solution are: 

  • Document storage
  • Onboarding
  • Online payments
  • Owner portal
  • Property Inspections
  • Property accounting
  • Rental listings
  • Renters Insurance
  • Tenant screening 

The market for free and open source real estate property management software is vast, as seen via the list above. They have a variety of deployment models, features, and accessibility options. One software that gives good competition to all open source real estate management solutions, free real estate property management software, and premium real estate management solutions is Buildium. Let us look a closer look at the real estate property software below. 

Buildium is an Open API, trial-based real estate property management software. The online real estate property management software allows easy integration of essential data with multiple applications. The real estate property software offers to manage numerous properties across the United States from a centralized dashboard. The online real estate property management software supports four different properties. Also, it provides all the traditional tools for real estate property management, viz. rental analytics, maintenance tracking, 1099 e-filing, streamlined onboarding, rental insurance eLease management, and much more.

Buildium real estate management software

Source – Buildium

Buildium is renowned for the following real estate property management software solution features: 

  • Document storage
  • Online payments
  • Owner portal
  • Property Inspections
  • Property accounting
  • Rental listings
  • Tenant screening

Conclusion     

A recent study highlighted the steep upward curve that Property Management Software, often called Proptech, is likely to witness. It includes a 5.2 per cent growth rate Y-o-Y from 2020, while the industry’s value was an estimated $1.58 billion last year. Another study indicated that 31 per cent of property managers polled highlighted a need to increase efficiency, while 45 per cent wanted their real estate to grow more profitable. But critically, only 23 percent deemed crystal clear communication an absolute priority. The above factors, coupled with changing market dynamics, make real estate property management software the perfect solution for the digital era. 

Please give us your valuable feedback on any of the software mentioned above if you have used them previously. Tell us how much you liked our article in the comments section below. 

Is your organization looking to purchase real estate property management software specifically? GoodFirms helps you make the right choice with our detailed Buyer’s Guide on real estate property software. Use GoodFirms’ comprehensive Software Directory to find the ideal software solution to answer your organization’s every need. 

Written by Jane