Real estate development is not for the faint-hearted, considering the truckload of work you have to oversee at every step of the way. Be it meeting with the clients and discussing their needs, planning, and construction, managing the finances, or keeping an eye on legal matters, real estate development makes sure your hands are full all day, every day.
But no matter how complicated the process is, you have to go through the process one way or another to reach the other end. What if we told you that you could reduce the burden on your shoulders with the help of software?
It may seem a little out there, but with the way, technology has progressed over the last decade, the idea is no longer alien. Believe us when we say this, there are tons of tools that can take over much of your manual work and sufficiently reduce the amount of work you have to do.
Enter real estate development management software.
What Is a Real Estate Development Management Software?
Real estate management software takes charge of multiple processes in real estate development. These tools are specially designed to cater to project management needs in real estate development.
The processes in real estate development managed by relevant tools include planning, scheduling, resource management, communication and collaboration, and customer relationship management.
How Does Having the Best Real Estate Management Software Help You?
We have listed some critical uses of real estate development tools that might help you understand their functionality at a deeper level:
- With the help of the best real estate management software, you can plan the development process from scratch till completion and manage its execution seamlessly
- Since real estate is not a one-man job, you have to involve and engage your team members to make sure everyone is on board. Real estate development project management tools help you with task management functionality. Task management allows you to divide the tasks among relevant resources, assign deadlines, and much more.
- The organization of all tasks into a complete workflow streamlines the process for you to a great extent. With proper organization of processes, you can predict the completion time and estimate the overall time required to finish the job accurately and precisely.
- These tools are also a great source of communication with fellow team members and seniors, sharing feedback, exchanging information, and much more.
- With the best real estate management software in hand, you can easily keep all the information stored in one place- a unified platform accessible to everyone and has all the information one might need.
- Perhaps the best feature of such a tool is its ability to keep you on track with tracking capability. You can always get the big picture of your project and understand where you stand in the process.
On top of all the features listed above, real estate development management software can come in handy in several ways. Once you dive into their world, you will realize the extent of ease they bring to your work.
By now, you might be tempted to explore your options, but don’t you worry, we have got you covered on that front too. Read through and choose your pick! Below is a list of the 5 Best real estate management software that can change the way you work in real estate development.
List Of The 5 Best Real Estate Development Management Software In 2022:
nTask is our go-to software for any and every process in an organization. From basic, more straightforward tasks to complex projects, nTask can efficiently handle everything. Plus, its pricing is really affordable compared to the competitors in the market.
The tool is equipped with some of the latest, most advanced management features, designed to help you plan, manage and track tasks without any hiccups in the process.
Since its inception, nTask has garnered the trust of hundreds and thousands of users worldwide. Its simple, user-friendly interface also adds to its utility. Moreover, nTask team is always working on new developments and improvements to expect better for the future.
- Offers Gantt charts so that you can keep all tasks organized and track your progress relatively quickly.
- Break the project into tasks and subtasks and assign relevant resources to each task.
- Schedule meetings with clients
- Automate recurring tasks
- Financial summary
- Risk management
- Issue tracking and mitigation
- Team management
- Kanban boards
- Android and iOS apps
- Share files, documents, images, etc.
- Collaborate in real-time with task comments, meetings, etc.
- Create to-do lists
- Integrate with other tools to keep everything unified
- Use custom templates to start working immediately
- Basic plan – available for free forever
- Premium plan – $3 per user per month
- Business plan – $8 per user per month
- Enterprise plan – Custom pricing
Real Estate Management With nTask
Manage documents, issues, projects, teams and tasks, all in one place. Sign up today!
2. QuickBooks Desktop Enterprise
QuickBooks Desktop Enterprise is a specialized software that manages the financial aspect of your real estate development business. The tool offers multiple functionalities, including financial reporting, bookkeeping, expense tracking, payroll, invoice management, bank reconciliation, tax management, and much more.
QuickBooks is a web-based software, so you can easily use it on any web browser without installing or downloading any apps.
- Store information regarding vendors, inventory, pricing, and customers- all in one place.
- Advanced inventory helps keep an eye on inventory, orders, etc.
- manage sales orders and track inventory across locations in one dashboard
- offers Priority Circle, a dedicated team to help you with your finance and accounting needs
- 200 built-in, customizable reports
- Search, sort, and filter information with custom fields
- Real-time job costing
- Budgeting and forecasting features
- Gold with Core cloud access – $192 per month
- Platinum with Core cloud access – $223 per month
- Diamond with Core cloud access – $389 per month
Buildium is one of the most well-known software in the real estate development business. The software offers a horde of features so that users can manage all the aspects of their business without worrying about anything.
Buildium is particularly useful for property owners since it helps them with online rent payments, vacancy management, maintenance cycles, and accounting. Furthermore, a specialized rental portal allows owners to receive rent online automatically.
- Property Accounting
- Company Financials
- Online Payments
- Retail Cash Payments
- Resident Center
- Owner Portal
- Document Storage
- Maintenance Request Tracking
- Property Inspections
- Renters Insurance
- All Property Management
- Open API
- Analytics & Insights
- Rental Listings
- Rental Applications
- Showings Coordinator
- Tenant Screening
- Professional Website
- Essential – $50 per month
- Growth – $260 per month
- Premium – $460 per month
Appfolio is our fourth pick on this list. The app is an all-in-one property management solution with socialized features that fulfill all your needs. Along with excellent management solutions, Appfolio offers a user-friendly interface making it easy for users t navigate through the app.
- Standardize processes all across your organization to keep your team on one page
- Up-to-date data and insights
- Automate recurring tasks
- Automate routine tasks
- Prioritize work according to the urgency
- Streamline communication
- Data visualization tools
- Compare performance across regions and properties easily
- Share dashboard with stakeholders
- Quickly implement process changes
- Robust dataset with actionable insights
- Define roles and assign access accordingly
- Core – $1.40 per unit per month
- Plus – $3 per unit per month
Entrata is our last pick for this list. The property management software can help you in several ways, from facilities management to marketing and leasing. With the help of this cloud-based solution, you can say goodbye to long, arduous hours of manual work and move on to the heavenly comfort of automated processes.
- Manage all accounting and finance processes in one place
- Add and track vendors, pay invoices, write checks, create purchase orders, and manage all of the processing in one place
- Automatically add online work orders into Entrata
- Special module helping students
- Easy to use interface
- Seamless property inspection with inspection manager
- You can get a custom quote by contacting Team Entrata.
What Should You Look for In a Real Estate Development Management Software?
When looking for a real estate development management software, make sure that it has the following features:
- Project management
- Budgeting and finance
- Document management
- Reliable data security
- Built-in analytics
Along with these basic features, explore more features that might come in handy for your business in particular and then choose accordingly. Also, keep an eye on the pricing of the tools to make sure it aligns with your budget limits.
The Pros and Cons of Property Management Software
Whether it’s a multi-story hotel in a bustling market or a small property in a picturesque rural town, using real estate development software has numerous advantages. You’ll be able to streamline your operations, provide comprehensive training to your staff, and ensure your guests have a positive, stress-free experience.
- You can access your information from any location.
- You will save time and money by being more efficient.
- A smooth check-in process may boost guest satisfaction.
- Using built-in pricing tools, you can optimize your revenue stream.
- You will increase bookings by improving your online presence.
While real estate development, and project management software may ultimately help your business run more smoothly, it’s important to weigh the benefits and drawbacks before investing.
- You will be reliant on a single vendor.
- In the beginning, costs may be prohibitive.
- The system may lack an optimal accounting program or may lack any function that you might be needing.
It’s A Wrap!
We have just given you a rundown of some of the most outstanding real estate development management software. Book a demo, start a trial, read reviews, and thoroughly weigh your options before investing in the tool. The choice is all yours now.
We hope our effort will pay off and you will find the right tool really quickly.
Best of luck.
Also, see these blogs:
- 10 Best Process Management Software Reviews 2022
- 4 Best Construction Scheduling Softwares to Help You in 2022
- Best Construction Software for Small Builders and Construction Companies
- What you Absolutely Need to Know about Construction Risk Management in 2022