Multifamily Property Software Solutions: What You Need to Know

Multifamily property software helps landlords and property managers stay organized. Some focus on rent collection and lease tracking, while others handle maintenance requests and utility monitoring or billing.

Instead of juggling spreadsheets and paperwork, you have reliable software that assists you in handling important tasks.

In this post, we'll go over what you need to know about multifamily property management software and how it can help you. We’ll also discuss different types of software and what they solve.

Why Property Managers Use Multifamily Property Software

Managing rental properties takes a lot of work. You have to track rent, handle repairs, and respond to tenant requests. If you also bill for utilities, it gets even harder. That’s why many property managers use software to keep things simple.

Makes Rent Collection Easier

Chasing late rent takes time. With the right software, tenants can pay online, and you can send reminders automatically. Some systems even deposit rent straight into your account, so you don’t have to wait for checks.

Simplifies Maintenance Requests

Tenants can report problems online, and you can assign work orders fast. Some software even lets them attach photos so you know exactly what needs fixing. You can also track repairs and set up regular maintenance so nothing gets missed.

Helps With Accounting

Tracking income and expenses can be stressful, especially at tax time. Quality property software helps you see what you’re earning and spending. Some even work with QuickBooks or create reports that make bookkeeping easier.

Saves Time With a Simple Setup

Nobody wants to waste hours learning new software. A thought-out system is easy to use and works on both computers and phones. That way, you can manage your properties from anywhere.

Makes Utility Billing Fair With Submetering

If you bill tenants for utilities, a utility submetering system helps you charge each unit based on actual usage instead of splitting costs evenly. This encourages tenants to use water and energy responsibly, lowering overall consumption. Utility submetering systems also help you recover utility costs accurately, reducing disputes and unexpected expenses.

Different Types of Multifamily Property Software

Multifamily property software comes in different types, each designed to handle specific tasks. Here are the main types, along with an example of software for each category:

Property Management Software

This is the most common type used by landlords and property managers. It helps with:

• Rent collection – Tenants pay online, and payments are tracked automatically.

• Lease tracking – Alerts for renewals, expirations, and new agreements.

• Maintenance management – Tenants submit requests online, and managers assign work orders.

• Tenant communication – Sends automated reminders for rent, lease renewals, and maintenance updates.

Buildium is a popular choice for property managers who need a complete solution for rent collection, maintenance tracking, and lease management in one platform.

Utility Billing and Submetering Software

For properties that bill tenants separately for utilities like water, gas, and electricity, this software helps with:

• Submetering integration – Tracks each unit’s water usage to promote fair billing for tenants.

• Automated bill generation – Calculates utility costs and sends bills directly to tenants.

• Online payments – Allows tenants to pay utility bills through the same system as their rent.

DrizzleX helps property managers track water usage in multifamily buildings by using smart IoT micrometers and real-time monitoring, making billing more accurate and encouraging tenants to conserve water.

Request a quote today and learn how DrizzleX can help you save money.

Accounting and Financial Management Software

Managing income and expenses is key in property management. This software includes:

• Expense tracking – Logs maintenance, repairs, and operational costs.

• Financial reporting – Generates profit and loss reports, tax documents, and budget forecasts.

• Bank reconciliation – Syncs with bank accounts to match payments and deposits.

• Integration with property tools – Connects with rent collection and billing software for complete financial control.

Property managers widely use QuickBooks to track rental income, manage expenses, and generate financial reports, helping with tax preparation and budgeting.

Tenant Portal and Communication Software

Open communication channels reduce misunderstandings and improve tenant satisfaction. High-quality communication software includes:

• Online messaging – Tenants and property managers can chat through a secure portal.

• Community updates – Sends announcements about events, maintenance schedules, and emergencies.

• Document storage – Stores lease agreements, payment records, and policies in one place.

• Self-service tools – Tenants can pay rent, request repairs, and update contact details without calling management.

TenantCloud provides an easy-to-use portal where tenants can make payments, submit maintenance requests, and receive important updates, improving communication between renters and property managers.

Smart Home and Building Automation Software

Modern multifamily properties use smart technology to improve security and efficiency. This software helps with:

• Access control – Keyless entry systems and remote-controlled locks.

• Energy efficiency – Smart thermostats and lighting to reduce electricity costs.

• Security monitoring – Camera systems and alerts for suspicious activity.

• Leak detection – Smart sensors detect water leaks before they cause damage.

SmartRent offers keyless entry, smart thermostats, and security monitoring, allowing property managers to improve efficiency and enhance tenant safety.

Marketing and Lead Management Software

Keeping units occupied is just as important as managing current tenants. This software helps with:

• Online listing syndication – Posts vacancies on multiple rental websites.

• Tenant screening – Checks credit, background, and rental history before approval.

• Application tracking – Stores and organizes rental applications for easy review.

• Automated follow-ups – Sends messages to prospective tenants about available units.

Zillow Rental Manager helps property owners list units on multiple platforms, screen applicants, and manage rental leads all in one place.

How DrizzleX Helps You Save Water and Money

DrizzleX helps you catch hidden leaks, like running toilets and dripping faucets, so you don’t waste thousands of gallons of water. It also alerts you when tenants use too much water. On average, buildings that use DrizzleX cut their water bills by 25-45%—sometimes even more.

Plus, the system pays for itself fast. Most buildings recover the full cost of DrizzleX in about nine months just from the water savings.

DrizzleX makes water tracking easy. Request a quote today and take the first step toward lower bills!

See Water Usage Reports

One of DrizzleX's features is the Water Consumption Insights Report. Many people don’t realize how much water they waste. These reports give you accurate data so you can talk to tenants about their water use.

You’ll have clear numbers to show them, making it easier to prevent unnecessary costs.

Find and Fix Leaks Fast

Leaks aren’t always easy to spot. Some are obvious, but others stay hidden until you see a high water bill.

DrizzleX helps by tracking water flow in your building.

You’ll get alerts showing exactly where water is being lost and how much is wasted.

Get Instant Email Alerts

When DrizzleX detects a leak, it sends you an email with all the details. The message tells you which apartment and fixture is causing the problem, how much water has been used, how much it could cost you if it’s not fixed, and even possible reasons for the leak. It also suggests ways to solve the issue.

Bill Tenants Fairly

DrizzleX makes it easy to bill tenants based on their actual water use. When people pay for their own water, they tend to use less. With accurate tracking, you can charge tenants fairly and encourage them to save water.

FAQs About Multifamily Property Software Solutions

What is the most used property management software?

The most used property management software includes leading property management systems like Yardi, Buildium, and Appfolio Property Manager. These platforms help property managers handle everything from leasing data to resident billing, property accounting, and lease renewals in one platform.

Property managers can also use software that helps them manage utilities, such as DrizzleX. The right software makes it easier to keep residents happy, free up time, cut utility costs, and open the door to new opportunities in the market.

What is multifamily software?

Multifamily software is a platform designed to help property managers handle leasing data, resident billing, and lease renewals for apartment buildings, student housing, and large rental communities.

These tools simplify accounting tasks, track cash flow, and generate detailed reports to make the job easier. The best software replaces manual workflows with automation, so you can manage a large portfolio in less time while keeping residents happy.

What is the best software to keep track of rental properties?

The best software for tracking rental properties depends on what you need. If you're managing a large portfolio, leading property management systems like Yardi or AppFolio can help with property accounting, resident billing, and lease renewals in one platform. For smaller businesses, software like Buildium or RentRedi offers useful tools to manage late fees, cash flow, and detailed reports without spending too much time on manual workflows. In the end, you should pick only what you need so you don’t overpay for features you won’t use.

What software do apartment complexes use?

Apartment complexes use leading property management systems that help property managers handle leasing data, resident billing, and lease renewals in one platform. Many apartment complexes, including student housing, use software like RealPage and AppFolio to streamline services and utility software such as DrizzleX to save utility costs. This multifamily property management software can help with proper accounting, manage utilities, and overall improve operational efficiency.