Best Rental Property Management Software of 2023

Why We Chose It

Pros & Cons

Overview

Founded in 1971 and based in Cleveland, MRI Software started by providing property management services and has expanded to cloud-based software and an app. It has over 45,000 clients in over 170 countries and more than 300 partners supporting them, a testament to the reliability and quality they provide.

Commercial properties come with greater financial complexities, and the investors who own them have different information requirements for their properties, such as investment management reports and strategic planning and analysis. MRI Software was designed to meet these needs from the start and therefore wins our vote as the best rental property management software for commercial properties. 

MRI Software supports commercial and residential properties, but because of the design of its features, it’s better suited for the commercial sector or businesses owning large portfolios of residential properties. A smaller residential landlord would simply leave too many features paid for but unused. It’s best suited for managing more extensive portfolios of property and can be installed or purchased as software as a Service (SaaS).

As it has a wide array of services for different types of clients, MRI Software doesn’t have specific pricing tiers, but rather it tailors the price for every client’s needs. This means that users can choose what to include in their package and whether they need some or all services, such as online rent collection, lease templates, integrated accounting, maintenance requests, tenant screening insurances, multifamily insurance, resident communication, investor relations, rent and vacancy tracking, manager compliance, and credit risk management. 

There is no free trial, and to get a quote, you must get on the phone with its customer agents so they can interview you to determine precisely how you want to use the software. While this is an extensive process, quite different from competitors who simply publish their pricing online, there are many reviews from commercial property managers and owners on Getapp.com and Software Advice that have rated MRI as a good value for the price they were privately quoted.