Best Tools for Third-Party Property Managers

Third-party property managers face unique challenges: impressing owners, maintaining transparency, and operating efficiently at scale. The right tools can differentiate your service and improve your margins.

Core Operations Tools

AppFolio - Best for owner portals and financial reporting
Buildium - Strong accounting and owner communication features
Propertyware - Advanced for high-volume single-family portfolios
Rent Manager - Powerful but complex, great for custom workflows
Yardi Breeze - Good for commercial and mixed-use portfolios

Owner Reporting & Communication

Built-in owner portals in your PM software (essential)
Stessa - Automated financial reporting for owners
DoorLoop - Clean owner dashboards and mobile access
Knock CRM - Purpose-built for owner acquisition and retention
Custom owner reporting templates via Excel or Google Sheets

Leasing & Tenant Screening

RentRedi - Easy application process, good for small portfolios
TurboTenant - Free for landlords, paid for managers
Avail - Streamlined screening and lease signing
Rently - Self-showing technology to reduce leasing labor
ShowMojo - Automated showing scheduling

Maintenance Coordination

Property Meld - Best for reducing maintenance costs and improving owner satisfaction
Lula - AI-powered maintenance routing
Vendoroo - Vendor management and bid comparison
Upkeep - Preventative maintenance scheduling
Mezo - Tenant-friendly maintenance requests

Accounting & Financial Management

QuickBooks Online - Industry standard, integrates with most PM software
Xero - Modern interface, good for tech-forward teams
Native accounting in AppFolio or Buildium (often sufficient)
Stessa - Automated reporting for owners with multiple properties

Tools That Impress Owners

★Real-time owner portals with 24/7 access to financials
★Automated monthly reporting with photos and updates
★Transparent maintenance tracking with photos and receipts
★Mobile app access for owners on the go
★Instant notifications for major events (lease signed, maintenance issue, etc.)

Tools That Improve Margins

$Property Meld - Reduces maintenance coordination labor by 40%+
$Rently - Cuts leasing labor costs via self-showing
$Automated rent collection - Reduces late payments and follow-up time
$Integrated accounting - Eliminates double-entry and reconciliation errors
$Vendor bid tools - Ensures competitive pricing on repairs

Pro Tip

Owners care most about transparency and responsiveness. Invest in tools that give them visibility into what's happening with their property, even if it costs slightly more.