When choosing property management software, certain features can have an outsized impact on your daily operations and long-term growth. Here’s what to look out for:
Accounting
Strong accounting features form the foundation of any reliable property management platform. Managers need tools that accurately track rent payments, expenses, and deposits while keeping owner and tenant funds separate. Look for features such as trust accounting, bank reconciliations, and the ability to create detailed financial reports. These tools help maintain compliance and provide a clear view of how each property is performing.
Tax preparation is another big part of the accounting puzzle. Good software can simplify year-end processes by generating 1099 forms, Schedule E reports, and P&L summaries automatically. For those managing multiple owners or investor groups, the ability to produce customized statements and automate distributions makes tax season much easier to handle.
Leasing Tools
Leasing tools help property managers fill vacancies faster and reduce manual work. A solid leasing feature set includes customizable lease templates, online applications, background checks, and electronic signatures. These tools remove bottlenecks from the leasing cycle and help teams move tenants in quickly without bouncing between systems.
Automation plays a big role here. When leasing software ties directly into applicant screening, digital document storage, and rent collection, it reduces the chance for errors and cuts the time it takes to complete each lease. Tenants also benefit by having a more convenient experience from the moment they apply to the day they get their keys.
Maintenance Tools
Keeping properties in good shape means handling maintenance requests efficiently. Maintenance tools should let tenants submit work orders online, include photos, and track status updates. Property managers can assign tasks to vendors, add notes, and keep everything logged for future reference.
Some platforms also allow you to create vendor profiles, set spending limits, and review past work. These features help managers stay organized and avoid surprises. Over time, having a maintenance record for each unit helps with budgeting and can even reveal patterns or recurring issues that need to be addressed.
Marketing Tools
Marketing features help fill units faster and keep occupancy rates high. Look for software that lets you create and post listings directly to websites such as Apartments.com, Zillow, and Craigslist. This saves time and makes it easier to keep listings up to date.
Some platforms also include tools for branding your company and tracking how listings perform. Being able to monitor traffic, adjust pricing, and test descriptions or images can make a serious difference in how fast you attract qualified tenants. Having built-in marketing tools also reduces the need for third-party platforms.
Communication Tools
Clear communication keeps tenants and owners informed and reduces misunderstandings. A good platform lets you send updates through email, text, or in-app messages. Tenants can get reminders about rent, maintenance, or lease renewals, while owners receive financial summaries and important updates.
Centralized communication also makes documentation easier. When all messages are saved in one place, you can quickly reference past conversations if disputes arise. Plus, professional communication tools help you deliver a better customer experience.
Mobile Apps
Mobile-friendly software helps you and your tenants manage tasks on the go. A strong mobile app should support rent payments, maintenance requests, document uploads, and tenant screening. This makes it easier for property managers to stay responsive, even outside the office.
For tenants, the convenience of handling payments and service requests from their phones improves satisfaction. Many renters now expect a modern, app-based experience—so having a reliable mobile interface can be a major selling point.
Integration with Other Software
Software integrations allow your property management tools to connect with accounting systems, CRMs, marketing platforms, and more. Platforms with open APIs and app marketplaces make it easier to build a workflow that fits your business.
Instead of juggling disconnected tools, you can bring everything together in one ecosystem. This saves time, reduces data entry errors, and helps your team work more efficiently. For businesses with unique needs, integration flexibility can be a deciding factor when choosing software.
