Let’s go back to your childhood. Remember walking through your neighborhood or around at school and finding a penny on the ground? For me, it made my day. (Unless you found a penny facedown and you were doomed to live a life imbued with bad luck.) Free is along the same lines, sans bad luck. I’d call that pretty lucky. I’d even venture to say that this has some commonality with free property management software.

Finding free property management software has a cost, however. Many paid solutions offer a free version, though these editions often only enable users to manage one property or only offer basic features in attempts to entice you to buy their paid product.

Not so lucky.

So rather than directing you to paid solutions that offer an unsatisfying free version, I’ve listed fivetruly free property management software solutions, listing their pros and cons so you can find the right fit for your property and your needs.

This article looks at five highly rated free property management software options. See the full list of free property management software solutions here

Cozy jumpstarts our list as a popular free property management solutions that is used by more than 60,000 property managers and landlords in 6,000 cities across the United States. Cozy can also be accessed from anywhere with an internet connection on any device.

Pros

With Cozy, property managers can craft comprehensive online property listings with flexible image galleries that include in-depth lease terms, and information on amenities and pet policies. These listings can then be hosted on Cozy’s partner sites free of charge and even include a URL to copy and paste into posts on popular sites such as Craigslist. Interested tenants can also apply directly by creating a Cozy Renter Profile that will include all personal information (such as employment, salary, up-to-date credit reports from Experian, and references) in one location. Potential residents can even upload a short bio on their application to give property managers a better sense of who these applicants are. Background check are also available and free, but only for landlords using Cozy (applicants cover the background check fee). This solution also enables users to collect rent online with detailed payment information like incoming and past charges or even charge late fees directly to tenants. Offline payments can additionally be recorded into their payment tool.

Upcoming features for Cozy include document signing and storage, iOS and Android apps as well as income and expense tracking.

Cons

Because this software is heavily focused on the applicant side, this means that other features like managing maintenance reports or accounting options are not possible through this solution.

Have you used Cozy? Leave a review!

Online Rental Property Manager (ORPM) is a free and open source property management solution for those looking to manage their rental properties and units as well as applications, leases, and tenants. ORPM is accessible through PC, tablet, and mobile.

Pros

Because this solution was created using AppGini, users can easily customize ORPM to fit their needs, including a variety of tabs that touch on property details, prospective tenants, and applications that can be converted into leases. Within the “properties” tab, users can list the location, type, number of available units, and even attach photos and documents if desired. Within these units, users can additionally view specific features for any unit, such as rental amount and whether or not a particular unit is occupied, vacant or not listed. For applicants and current tenant, managers can access the contact information of their renters and personal information, such as phone numbers, email addresses, license plate numbers, gross pay, and additional income. ORPM also allows for emails to be directly sent through the application, enabling users to send emails to other users to arrange meetings or keep in touch with other employees or business partners.

Cons

While ORPM hosts a variety of features to help manage properties and their tenant, this solution does lack a payment component. A payment tool can be setup, but requires additional coding that might be out of range for those less technologically inclined.

Have you used ORPM? Leave a review!

Rentec Direct offers a free “Basic” platform for smaller landlords managing ten or fewer properties “as our way of giving something back to the landlording community,” the company states.

Pros

Rentec Basic offers three main features that property managers will find useful:

Income and expense tracking: The software provides a simple ledger account system along with reports that you can go over with your accountant.

Property and tenant accounting: This feature enables you to keep simple and accurate records of both your property and the tenants who live there.

Tenant screening: The software combs through public records and background checks of your prospective tenant’s history to help you determine if they’ll be a good fit for your property.

Cons

Reviewers didn’t have a lot to complain about with Rentec Direct, scoring an average of 5 out of 5 among more than a hundred reviewers. Some did have small complaints though, including that running reports “can be laborious,” or that the software could use some additional features to help organize tasks.

Have you used Rentec Direct? Leave a review!

RentTracker is software for managers of rental properties. The company has been around since 1999, and recently unveiled apps for the iPhone and iPad.

Pros

RentTracker’s main advantage is that it’s cloud-based, allowing you the flexibility of managing your properties on your mobile device — or even your PC or Mac if you prefer. All the data is backed up online and secured via Comodo SSL. The cloud infrastructure supports 10 gigabytes per second.

The software enables you to manage tenant-vendor contractors, as well as rent payments and expenses. The software will also alert you when a lease is about to expire.

Cons

RentTracker is free, but fairly limited until you spend money. You can download it to your iOS or Android device, but you will have to pay if you want more than three tenant records. Additional tenant records cost $1 each, or you can buy in bulk for a lower price. The software also runs ads, which are removed with the purchase of a 10-pack of tenant records.

Have you used RentTracker? Leave a review!

For landlords, TenantCloud is a free cloud-based property management option that enables multitasking and is accessible across PC and mobile.

Pros

Aside from basic property management options, TenantCloud offers users the ability to screen potential tenants with a comprehensive background check that covers social security number (SSN) validation, address history, and possible past criminal activity. Those interested can also make use of TenantCloud’s free marketing website component with layout templates and even create an online tenant application that can be accessed through any device. Through TenantCloud, users can additionally manage online payments, accepting both Dwolla and PayPay so users can collect rent with ease. Other standout features range from free unlimited online support to the ability to email tenant notifications right through the system.

Cons

Tenant Cloud is by far one of the more user-friendly and accessible options, but caps at 75 properties. Those needing to manage more properties will have to search for other solutions to satisfy their numbers.

More?

Do you know of any other free property management software that belongs on this list? Make your case in the comments below.