If you manage 50 or more residential units for other owners, start with AppFolio; smaller professional managers and HOA managers should compare Buildium, Yardi Breeze and DoorLoop, and mixed or unusual portfolios — self storage, manufactured housing, RV parks — fit Rent Manager. Large apartment operators belong on Entrata. Independent landlords with a handful of units can start free with TurboTenant or Avail, or pay a flat $12 a month for RentRedi’s unlimited units, as long as they are comfortable with tenants paying screening and payment fees. Before you sign, ask for the minimum monthly spend, onboarding fees and the full list of payment and screening fees, because these change the real cost more than the per-unit price.
How much does property management software cost?
Professional platforms usually charge per unit per month with a minimum: Yardi Breeze starts at $1 per residential unit with a $100 monthly minimum, AppFolio at $1.49 per unit with a 50-unit minimum, and DoorLoop at $2.50 per unit, while Buildium starts at $65 a month and Rentec Direct at $25 a month for up to 10 units. Landlord apps cost less: TurboTenant and Avail have free plans, TurboTenant’s paid plans start at $149 a year, and RentRedi costs $12 a month billed yearly. Rent Manager and Entrata price by quote.
What do I have to tell an applicant I turn down?
If you deny an application, require a co-signer or a bigger deposit, or charge higher rent because of information in a tenant screening or credit report, the FTC says you must give the applicant an adverse action notice. It must include the name, address and phone number of the company that supplied the report, a statement that the company didn’t make the decision, and the applicant’s right to dispute the report and to get a free copy within 60 days. If a credit score was used, the notice must also give the score and the key factors behind it.
Who is protected under the Fair Housing Act?
The federal Fair Housing Act, enforced by HUD, bans housing discrimination based on race, color, national origin, religion, sex, familial status and disability. Many states and cities add more protected classes, such as source of income, so check local rules before you set screening criteria.