Best Property Management Software 2026: Top Platforms, Features & How to Choose

Why property managers need specialized software

Managing rental properties—single-family, multifamily, or mixed portfolios—requires tracking units, leases, rent payments, work orders, vendors, and owner accounting. The National Association of Realtors reports that property management software adoption continues to rise as landlords seek efficiency. Once you cross 10–15 units, spreadsheets become error-prone and time-consuming. Late fees get forgotten, renewal notices slip, and owner statements require manual aggregation. The right property management software gives you:

• Portfolio management: All properties and units in one place with occupancy status
• Lease management: Start/end dates, rent, deposit, renewals, move-in/move-out
• Rent tracking: Rent periods, late fees, payment history
• Work orders: Create, assign, track maintenance—with priority levels and vendor assignment
• Owner accounting: Owner statements, cash flow reports, expense tracking
• Tenant applications: Screening and application tracking

Whether you manage 5 units or 500, your software should scale with you. See how Brokurz property management supports these workflows.

Must-have features for property management software

Properties and units

You need a clear view of your portfolio: properties, units (beds, baths, sqft), occupancy status (occupied, vacant, notice), and owner/contact linkage. Filtering by status and property type is essential.

Lease management

Each lease should have start date, end date, rent amount, deposit, resident contacts, and renewal tracking. One-click renewals from expiring leases save time. Move-in, move-out, and notice-to-vacate dates keep you organized.

Rent collection and late fees

Track rent payments per lease. Auto-generate rent periods (monthly or custom). Configurable late fees (flat or percentage). Late fee automation reduces manual follow-up.

Work orders and maintenance

Create work orders, assign to vendors, set priority (low to emergency), and track estimated vs. actual cost. Status tracking (open, in progress, completed) keeps everyone aligned.

Accounting and owner statements

Owner statements, cash flow reports, expense tracking (CapEx, OpEx, vendor invoices). Good property management software connects rent and expenses to the right properties and owners.

Vendors and documents

A vendor directory (plumbers, electricians, painters, landscapers) speeds up work order assignment. Document storage per property and per lease keeps leases, addendums, and move-in/move-out docs organized. E-signature support for leases and addendums reduces paper and speeds lease execution.

Properties, units, and leases

The core of property management is the property → unit → lease hierarchy. Software should support:

• Property types: Single-family, multifamily, condo, commercial, mixed-use
• Units: Beds, baths, sqft, status (occupied, vacant, notice)
• Leases: Start, end, rent, deposit, renewal options
• Residents: Multiple residents per lease, contact info
• Applications: Application and screening status tracking

Brokurz supports all of this—with one-click lease renewals from expiring leases and inline add-resident flows for move-ins.

Rent and accounting

Rent tracking should be per-lease with auto-generated rent periods. Late fees can be flat or percentage-based. Owner statements and cash flow reports give owners clear visibility. Expense tracking (CapEx, OpEx, vendor invoices) rounds out the accounting picture.

Brokerage software that also does property management (like Brokurz) lets you manage both sides—agent transactions and rental portfolios—in one platform.

Maintenance and work orders

Work orders need:

• Priority: low, medium, high, emergency
• Vendor assignment
• Status: open, in progress, completed
• Cost tracking: estimated vs. actual
• Property/unit linkage

A vendor directory (plumbers, electricians, painters, etc.) speeds up assignment. Brokurz includes work order management with full vendor and cost tracking. See our rent collection and late fee software guide for deeper detail on automation.

How to evaluate property management software

Before choosing a platform, run through this checklist. First, list your properties and units—can the software handle your property types (SFR, multifamily, condo, mixed-use)? Second, map your lease workflow—can you track start/end dates, rent, deposits, and renewals? Third, test rent tracking—does it auto-generate rent periods and support configurable late fees? Fourth, verify work order flow—can you create, assign, and track maintenance with vendor and cost data? Fifth, check owner reporting—do owner statements and cash flow reports pull from the right sources?

Also consider: if you are a brokerage that manages rentals, does the platform handle both sales and property management? See our guide for brokers who manage rentals.

Common mistakes when choosing property management software

Mistake 1: Sticking with spreadsheets too long. Beyond 10–15 units, manual tracking leads to missed late fees, lost renewals, and owner disputes. The cost of errors outweighs software investment.

Mistake 2: Overbuying enterprise tools. Buildium, AppFolio, Yardi—built for 500+ unit portfolios. Small managers pay for features they never use. See our guide for 5–50 units.

Mistake 3: Using separate tools for sales and rentals. Brokerages that do both need one platform. Running a CRM for sales and a separate PM tool for rentals doubles cost and fragments the client view.

Mistake 4: Ignoring late fee automation. Manual late fee calculation and follow-up wastes hours. Configurable flat or percentage late fees with auto-calculation save time and ensure consistency.

Pricing and portfolio size: What to expect

Property management software pricing varies by portfolio size. Small portfolios (5–50 units): All-in-one platforms like Brokurz typically charge $500–$2,000/month. Dedicated PM tools (e.g., TenantCloud, TurboTenant) can run $100–$500/month for smaller portfolios. Mid-size (50–500 units): $1,000–$3,000/month for full-featured platforms. Large (500+ units): Buildium, AppFolio, Yardi—$2,000–$10,000+/month with per-unit or tiered pricing.

Watch for per-unit fees that scale quickly, setup fees, and long-term contracts. The best fit for most small-to-mid managers is a platform that scales with you—start with your current unit count and grow without switching.

Brokurz for property management

Brokurz is an all-in-one operating system for brokerages that also manage rental properties. For property management, you get:

• Portfolio management: properties, units, occupancy
• Lease management: start, end, rent, deposit, renewals
• Rent tracking: rent periods, late fees, payment history
• Work orders: create, assign, track, vendor and cost management
• Owner statements and cash flow reports
• Expense tracking: CapEx, OpEx, vendor invoices
• Vendor directory
• Tenant applications and screening

Many brokerages do both sales and property management. Brokurz supports both—transactions, commissions, and rentals—in one platform so you don't need separate systems.

Explore Brokurz for property management or contact us to see it in action.

FAQ: Property Management Software

What is property management software?

Property management software helps landlords and property managers track properties, units, leases, rent payments, work orders, and accounting. It replaces spreadsheets and multiple tools with one integrated platform.

What features should property management software have?

Key features: portfolio and unit management, lease management (start, end, rent, renewals), rent tracking and late fees, work orders and maintenance, owner statements, expense tracking, vendor directory, and tenant applications.

Can Brokurz handle both brokerage and property management?

Yes. Brokurz supports residential and commercial brokerage (CRM, transactions, commissions) and property management (properties, leases, rent, work orders, accounting) in one platform.

How much does property management software cost?

Pricing varies. All-in-one platforms like Brokurz typically range from $500–$2,000/month depending on unit count and team size. Dedicated property management tools can run $100–$500+/month for smaller portfolios.

Does Brokurz support work orders?

Yes. Brokurz includes work order management with priority levels, vendor assignment, status tracking, and cost tracking (estimated vs. actual).

Can I track rent and late fees in Brokurz?

Yes. Brokurz auto-generates rent periods, tracks payments per lease, and supports configurable late fees (flat or percentage of rent).

What is the best property management software for small portfolios?

For 5–50 units, look for all-in-one platforms with portfolio management, lease tracking, rent collection, work orders, and owner statements. Avoid overbuilt enterprise tools—Brokurz scales from small to large portfolios.

How does property management software handle tenant screening?

Good software tracks application status, screening results, and approval/denial. Brokurz supports application and screening workflow so you know which tenants are in process.

Can property management software generate owner statements?

Yes. Owner statements and cash flow reports are standard. Brokurz connects rent income and expenses (CapEx, OpEx, vendor invoices) to properties and owners for clear reporting.

What is the difference between property management and brokerage software?

Brokerage software focuses on sales—transactions, commissions, agents. Property management software focuses on rentals—properties, leases, rent, work orders. Brokurz does both, so brokerages that manage rentals use one platform.