5 Best Real Estate Asset Management Software

Elise Williams

2024-10-08 14:51:42 • Filed to: Software for Real Estate • Proven solutions

One of the most lucrative fields of industry today is real estate. This business is loved by entrepreneurs due to its massive potential and high asset value. An attractive feature of real estate assets is that they appreciate over time. Therefore, every purchase has a guaranteed return. As such, many people make investments in this industry. If you have a portfolio of real estate assets, you can manage them using computerized tools. There are various real estate asset management software available today. Here are the most effective real estate software for asset management that you can use.

5 Popular Real Estate Asset Management Software

1. Buildium

This is a software tool that is specially built for real estate business. Buildium automates the activities required in this enterprise. As such, you have more time to perform management on the ground. This software can perform accounting tasks such as keeping track of payments by vendors, provision of rent details and budget management. Buildium can also provide you with financial reports every quarter. For real estate business, the software can manage bank accounts in a secure way and also accept rent payments. It can also track and present business and personal expenses on an easily legible dashboard. An interesting feature is that it accepts and records online payments as well. This software is available for free through a demo account.

Pros

It performs automation of various real estate business activities
It can receive, record and manage online payments
The software is available for free through a demo

Cons

The trial period is short

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2. Rentec Direct

This is a specialized software tool that is made for real estate business. Rentec Direct is easy to learn, simple to use and gets free customer support. It provides you with a general ledger for accounting purposes. Through this facility, you can enter, view and manage your company's records. The ledger is essentially a dashboard which provides you with information about your tenants, rent records and bank account details as well Rentec Direct also helps you to perform automatic tenant screening. Fully equipped to make commercial real estate management easier, this software also automates the receipt of rent payments. It supports bank transfers, credit cards and cash payments as well Last but not least, this real estate asset management software enables you to store real estate business files in an online repository.

commercial real estate asset management software

Pros

It provides a general ledger fit for accounting records
This software performs automatic tenant screening for you
It supports multiple methods of payment
The software can be accessed through a 14 day free trial

Cons

It cannot be integrated with other real estate management software

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3. MRI Software

Capable of providing comprehensive management for commercial real estate, this software tool improves your business efficiency. The MRI Commercial Management Software has tools to help you with analyzing business performance and making financial reports. It also provides automated lease administration and provides the resources you need so as to manage lease teams. This commercial real estate asset management software also automates activities such as lease calculation as well as the recording of financial events such as offsets, recoveries and breakpoints. The MRI Commercial Management Software is accessible on the Internet through a web-based portal.

Pros

The software contains a variety of tools for commercial real estate business
It automates the administration of leases
It is accessible through an online portal

Cons

It is not available for free

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4. Appfolio

With a focus on making your real estate business more profitable, this software is an ideal tool for computerized enterprise. Appfolio delivers real-time financial and real estate management reporting. Furthermore, it provides you with a customizable dashboard which you can use for accessing strategic data such as employee performance statistics and property conditions. The software is accessible through computers as well as a smartphone application. In addition to that, Appfolio provides you with accounting data on the go. For example, it can send enterprise metrics and maintenance details to you on a scheduled basis. The software is accessible for free through a trial demo.

Pros

This software maximizes business mobility
It delivers business information through a customizable dashboard
It can be accessed and manipulated through a smartphone application
The software is accessible for free through a trial demo

Cons

It is fairly expensive

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5. Cozy

With a wide collection of features, this software makes it possible for commercial real estate owners to develop and manage rental properties in an easier way. Cozy provides tools which you can use to manage your rental property, analyze tenants and make rent collections. These activities can all be performed from one convenient dashboard. This commercial real estate asset management software also provides a complete file management system which can store real estate business documents. Furthermore, you can track expenses and make requests for maintenance right through its dashboard that can be accessed online. The best feature of Cozy is that it is free.

Pros

It puts a collection of commercial real estate tools at your fingertips
All the features are accessible through a dashboard
Your commercial real estate information is accessible online
The software is free to use

Cons

It is not possible to integrate it with other softwares

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Technology has made it easier to establish and manage real estate property. The software tools indicated above are the best for real estate asset management. They put all the commercial information, processes and file management in the palm of your hands.

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