The 5 Best Commercial Real Estate Software Options

Grandview Research predicts the commercial property market will grow at a strong CAGR of 5.1% from now through 2030. With this kind of expected growth, managing office buildings, retail spaces, industrial properties, or a mix of these will only become more demanding for real estate professionals.

There's no way a property manager can keep track of every detail without assistance. Manually juggling all those leases, finances, maintenance requests, and operations is a surefire path to burnout. That's where commercial property management software comes to the rescue.

This article covers the best solutions for commercial real estate software to help you streamline operations, improve tenant relations, and gain valuable insights into your portfolio's performance.

Keep reading to discover must-have features to look for, along with in-depth reviews of top commercial property management platforms.

Commercial real estate software must-haves

Consider these capabilities as you start looking at commercial property management software options for your business.

Lease management

In most areas of commercial real estate, no two leases are alike. When dealing with the complexity that comes with lease management, you should enlist the help of property management software to keep you organized. Focus on solutions that allow you to:

• Track lease agreements: Look for solutions that keep all lease agreements organized and easily accessible. It should allow you to manage lease renewals and terminations effortlessly, making sure you never miss a critical date.
• Manage unique terms: Since commercial leases are all different and have unique lengths, terms, and clauses, the software should provide a way to track and manage these specifics for each tenant.

Tenant communication

Tenants need easy ways to get in touch with property managers and owners, while you need a system to track communication and requests. Look for software that coordinates tenant management and communication by offering:

• Automated reminders: Choose property management software that allows you to set up automated reminders and notifications for important dates like lease renewals or rent due dates. This improves communication and reduces the need for manual follow-ups.
• Communication requests: The best software provides tenants with easy tools to communicate directly with property management companies.

Financial management

Platforms with built-in accounting software eliminate the need for separate tools, and your operation's information gets automatically integrated into your data. Key financial management capabilities to look for in commercial property management software include:

• Detailed expense records: You need software that provides comprehensive records of all property-related expenses, helping you keep accurate financial records and monitor spending.
• Automatic invoicing: Opt for property management software that allows you to generate and send invoices automatically, reducing the time and effort spent on manual invoicing and improving cash flow management.

Maintenance management

Built-in maintenance administration features in your property management software can have a positive impact on your efficiency. The software should have:

• Routine maintenance scheduling: The best platforms allow you to easily schedule routine maintenance tasks, such as common area upkeep. This helps to prevent regular maintenance activities from getting overlooked.
• Tracking maintenance requests: Your chosen solution should enable tenants to submit maintenance requests easily and allow both parties to monitor these requests. This feature optimizes maintenance operations, confirming issues get addressed swiftly and allowing you to prioritize urgent tasks.

Reporting and analytics

Commercial property management software should provide detailed reports on your properties' financial and operational aspects. You should be able to run these reports easily:

• Financial reports such as income statements, balance sheets, cash flow statements, and budget vs. actuals.
• Tenant and lease reports for areas like lease expirations, tenant rent rolls, and delinquencies.
• Maintenance and work order reports to understand maintenance costs.
• Vacancy and occupancy reports.
• Operational reports for areas like property inspections and inventory.
• Compliance and risk management reports for areas like insurance and regulatory compliance.
• Custom reports tailored to specific needs or metrics.

User-friendly interface

Make sure the property management software you choose is easy to navigate with a clear and logical layout. The sooner you can start using the software, the better, so not having to spend hours in training is a big benefit. Plus, user-friendly software makes it more accessible to everyone on your team.

Customer support and training

No matter which software you choose, there will be times when you need support. Look for property management software that offers multiple support channels and training resources to help you get started.

The best commercial property management software

Let's get into our top five picks for commercial real estate professionals:

1. Azibo

Azibo is a full suite of solutions that streamline the management of commercial properties. Customers rave about us on both TrustPilot and Capterra because of the ease of use, flexibility, and commitment to adding new capabilities.

Key features

• Rent collection: Property management companies can provide tenants with multiple payment options like ACH transfers and credit cards. You can also set up automated reminders and notifications.
• Maintenance management: Azibo centralizes maintenance requests and communication, making tracking statuses easier.
• Financial management and accounting: The platform provides tools for tracking expenses, automating categorization, generating financial reports, and preparing taxes.
• Residential capabilities: For apartment complexes, Azibo's residential property management software capabilities include rental applications, tenant screening, and state-specific lease agreements.
• Insurance and loans: Azibo's ecosystem of solutions includes access to competitive insurance options and tailored lending solutions.

Pricing

Most of Azibo's capabilities are free for landlords. This includes rent collection, accounting, financial management, and maintenance management. Applicants pay $39.99 for background checks, and property managers pay $29.99 for legally compliant lease agreements with eSign.

2. Entrata

Entrata's property management software supports student, affordable, and military multifamily housing.

Key features

• Accounting and financial management: Includes general ledgers, income statements, budgeting, and invoice processing.
• Tenant management: Facilitates the management of leads, move-ins/move-outs, online rent payments, and collections.
• AI and automation: To support operational efficiency, it uses AI models for tasks such as responding to reviews and writing emails.

Pricing

Entrata's pricing requires a custom quote via sales consultation. There is no free plan or trial available.

3. LandlordTracks

LandlordTracks is a cloud-based property management software that supports commercial properties, campgrounds, RV parks, and corporate housing.

Key features

• Financial: LandlordTracks facilitates online rent payments via credit card or ACH. It also supports accounts receivable, direct deposit, automated invoicing, and financial reporting.
• Tenant screening and leasing: The software includes tools for tenant screening, background checks, and the generation of custom lease agreements.
• Online reservations: LandlordTracks offers an online reservations system for campgrounds and RV parks. The system shows available units and captures online reservations in real time.

Pricing

LandlordTracks pricing starts at $19 per month for up to 10 units.

4. RealPage

RealPage's property management software is part of a suite of commercial offerings that also include investment management, call center management, and utilities management.

Key features

• Document management: RealPage allows users to store and manage leases and compliance records in a centralized, cloud-based system.
• Maintenance operations: The platform includes tools for managing maintenance requests, tracking work orders, and overseeing vendor relationships.
• Reporting and analytics: RealPage offers reporting around property performance, financial metrics, and resident trends.

Pricing

RealPage bases its pricing on the square footage of the properties managed. For office and retail, it's $12.50/month per 10,000 sq ft and $7.30/month for industrial properties.

5. VTS

VTS is a commercial real estate leasing and asset management platform for office, retail, industrial, and multifamily.

Key features

• Lease administration: VTS offers a lease management system that centralizes all leasing activities and provides tenant data and asset information.
• Online marketing: The platform includes tools for online property marketing and virtual tours.
• Tenant experience: This feature supports tenant engagement by allowing commercial property managers to communicate with tenants, manage building access and amenities, and gather real-time feedback on tenant satisfaction.

Pricing

VTS pricing is not publicly available on their website and requires a custom quote.

Choosing the right commercial property management software

When you're ready to evaluate software solutions for your property management or investment business, here are tips to help you decide:

• Read reviews: Find out what others are saying about their experience with each platform.
• Schedule demos: See the software in action and assess its user-friendliness.
• Compare pricing: Consider your budget and the software's scalability. Look for free trials or tiered pricing options.
• Evaluate fit: Choose the software that best meets your business needs for long-term success and operational efficiency.

Commercial real estate softwares

Using the right commercial real estate software helps simplify operations, keep tenants happy, and provide clear financial data. Having an all-in-one platform to manage commercial leases, finances, maintenance tasks, and more is an absolute necessity to meet current market demands.

Review your existing processes, identify areas of inefficiency, and prioritize the features most crucial for your business needs. With the appropriate tools in place, you'll be able to efficiently oversee your properties even as your business's complexity increases over time.

The platforms profiled here represent some of the top contenders, and investing in a strong property management solution will benefit your overall operations management down the line.

Commercial property software FAQs

What is a CRM in commercial real estate?

A CRM in commercial real estate is a customer relationship management system that helps manage client interactions, track deals, and organize contacts.

What is project management in commercial real estate?

Project management in commercial real estate involves planning, coordinating, and overseeing the development and construction of real estate projects.

What is CRE software?

CRE software is commercial real estate software that helps manage property operations, including leasing, maintenance, and financial management.