Multifamily Property Management Software

Multifamily properties are a form of residential housing which houses multiple families in properties such as apartment buildings, duplexes, townhomes, and condominiums.

Yes. Single family rentals are a common alternative to multifamily properties. Single family properties may include single family rental homes, build-to-rent housing communities, and manufactured home communities. Single family properties require many of the same types of software solutions as multifamily properties.

Multifamily property management software is designed specifically to enable property managers, owners, and landlords to manage the unique requirements and administration of its multifamily properties. Property management software is critical for managing your portfolio assets, resident information, and financial reporting, and is usually supported by technology and services that help screen residents, protect against identity fraud, collect deposits and rent, support lead capture and task management, and more.

Having the flexibility to select multifamily software tools that either work together, separately, or alongside your existing tech is key. Below are some of the key features and functions to look out for when reviewing a new solution:

Lead management – attract more residents and follow up with prospects quickly and efficiently, through real-time notifications, and lead nurture and engagement tools.

ID Verification – reduce rental fraud by scanning IDs and running income checks with instant pass or fail results.

Resident screening – protect your multifamily communities, and reduce potential collections and evictions with accurate applicant screening tools.

Digital rent payments – give residents the flexibility to pay their rent through multiple payment channels including online.

Automated communications – improve your resident communications through automated answering and outbound call services, AI-powered chat, mobile, and web technology.

Online applications – convert more leads into residents with an online application that smoothly guides applicants through every step of your leasing process.

Online availability – attract residents by syndicating your current availability, pricing, and specials, across your preferred lead channels and your property’s website.

Resident portal – provide residents on-demand resources to pay their rent, submit maintenance requests, view community events, and more.

Renters insurance – help residents maintain your community’s requirements for multifamily renters insurance and ensure your properties are covered in the event of damages.

Electronic signatures – create legally binding digital lease agreements to ensure you’re protected and your residents sign and renew faster.

Property management software and a full suite of property management products gives your property the tools to improve financial performance, protect against a variety of risks, and give residents a positive experience so they’re more likely to move-in and renew. Below are just some of the key benefits:

Capture more leads – you can attract more individuals who are looking for their next home by giving a great first impression of your property online.

Gain more applicants – automatically create guest cards for every interested lead and make it easy for your leasing staff to follow-up with leads, so they’re more likely to apply.

Help leads apply sooner – create graceful online experiences so users can shop for new units and apply directly from your website without having to jump through hoops.

Accept the right residents – smart ID verification and screening solutions ensure you’re growing your occupancy without accepting individuals with fraudulent IDs, income statements, and more.

Improve time-to-cash – digital payments for application fees, deposits, and recurring monthly rent help your residents pay on-time without burdening your team with risky check payments.

Make communication easy – help leads, applicants, and residents stay engaged with your community through two-way call, email, chat, and text messages.

Improve financial reporting – track payments in and out of your communities so you can stay on top of your net operating income (NOI) and make smart financial decisions.

Manage your occupancy – know when residents signed and when they’re renewing, and view what units are filled, vacant, and coming available soon, so you maintain high occupancy.