Real Estate projects tend to be more complicated than most and the level of financial risk high.
If projects are going to come in on a budget, then it often requires that they hit important deadlines and avoid costly delays.
Therefore, the need for software that is a reliable means of planning, scheduling, budgeting, communicating, assigning and monitoring individual tasks is all important.
Some platforms are generic project management tools such as Basecamp and Trello that could be useful, but there is a strong argument to suggest that real estate project managers need industry-specific software.
There needs to be a close focus on risk and cost management, which are crucial in the real estate sector.
The business of real estate also requires dealing with many clients and working on large-scale projects.
Here is eight real estate project management software that could help execute projects effectively and efficiently.
The Best Real Estate Project Management Software
ProofHub is not explicitly designed for the real estate sector, but the company does package this general project management in a way that is designed for the industry.
They recognise that real estate is about people and projects and therefore show how the software can be organised to reflect this. These suggestions include:
You can create a project for every client and allocate team members who are involved with that client to that project, for instance.
There are online chat options for real-time discussions, which can be used to plan in detail before agreeing on a project.
Therefore, there is the option of running a detailed brainstorming session online with all key parties before a project moves forward.
Task and subtasks can be allocated to specific members of the team and offering detailed briefings attached to these tasks.
There are also means to label the level of urgency of the task and set the deadline to make those responsible accountable.
You can also visualise the workflow using Kanban boards, which allows the whole team to have clarity on the entire process of the real estate project.
It is a central hub for all the notes, files and comments related to the project and includes an online proofing tool that helps to finalise any plans.
Real Estate projects tend to be time-limited and schedule dependent; therefore, Proofhub’s Gantt charts are an essential part of what makes this a suitable platform.
There is the chance to set dependencies, so people can easily see how their part of the project influences other activities in the workflow. Reports that help you to assess the progress of the project, giving managers a clear picture.
Read our ProofHub review for more details.
Re-leased is a cloud-based property management software that allows for the management of key dates, actions and lease events.
There are automated notifications and workflows, to help busy professionals in the real estate sector keep up with a time-sensitive workload.
There is also an analytics dashboard that helps analyse revenue growth opportunities and boost efficiencies and a simple API which means data can be uploaded from wherever it is stored.
As this is a cloud-based platform, the app is excellent and offers access to ongoing details of your projects when you are away from the office.
This mobility is an important feature in recognising the demands of the real estate sector.
Pendo is aimed at property managers, who might be managing anywhere from one to 100 properties.
The list of features is highly focused on the demands of this sector, with options to use templates and online forms for the listing of properties, for instance.
However, there are many other project management tools to help real estate professionals, including:
- Tracking essential data such as people, income, expenses, expiring leases, rent increases, vacancies and overdue rents. The platform links directly to your bank account and extracts necessary information from there
- Files on all clients are stored in one place, with back up to the cloud, ensuring valuable data is protected
- A simple dashboard to view all rentals in your portfolio
- A simple app that travels with you, wherever you may be
LandlordTracks is a software that helps you track your rentals all in one place and has been designed and built by property managers.
Therefore, all the features reflect the needs of a property manager who is always on the move. This means the platform is cloud-based and best accessed through an app on a mobile device.
There is an inbuilt availability calendar and a place where you can store all the details of the tenants in your portfolio.
There is the added benefit of online payments within the platform, which means payments can be taken when out in the field, which has to be a significant bonus of the software.
There are also a lot of automated features. There is automated invoicing, late fees, and intuitive autopay features.
There is also a tenant portal, where tenants can make payments and see statements. This is more than just a project management software, as it has more than the standard task and collaboration tools.
This module of a more extensive integrated software is designed to manage all project-based activities associated with domestic and international real estate portfolios.
There is the capability to set up automated schedules and budgets, manage team communication and workflow, and improve efficiency through collaboration.
Projects can be managed in real-time meaning that managers can control project costs, track documents, reduce risk and improve reporting.
The platform can be integrated with Microsoft Office, meaning data can be imported and exported in a standard format.
My MCS Project is part of an integrated software suite aimed at Real Estate professionals.
The software aims to give a full view of the project. It is noticeable that this is a professionals’ software, as there are focuses on milestones and delivery dates and the communication of project risks and deliverables.
The platform offers companies the chance to customise the workflows, with automated functionality.
There is the chance to collaborate in real-time and to set permission rights for sensitive data of projects.
There is also a tracking function, with a project history, which allows for a review of best practice and to gauge when individual decisions were made.
Ultimately, the platform is designed for the organisation of optimised schedules, a close review of finances and a careful exploration of risk.
Intervals is a general time tracking and task management app, which can be used in real estate easily due to its portability. The platform offers:
- Time tracking – which allows you to take account of how much you are earning in your time at work
- Project management – with clear dashboards you can see your project in summary
- Task management – through the keeping of to-do lists and with the ability to collaborate with teams wherever they are in the world
- Accountability – there is an option to allow your client to track the progress of the project and offer them total transparency and so build trust. In building projects, this is an essential factor in progressing a project successfully.
- Reports – make more educated decisions about your portfolio and projects through fast reporting.
Intervals can be used in any sector, but it is useful in real estate as it integrates with many other apps, which can keep the professional mobile while doing business.
Zoho is another generic project management platform but one that is clear in its benefits to the real estate management sector.
The software helps to track the staff time on projects and develops cost estimates for recurring projects, such as marketing a home for sale.
There are templates to support this analysis – helping the reporting on cost analysis of specific deliverables simple and easy.
You can also use the software to track contract obligations, property agreements and service level agreements, through the scheduling functions. This can also help you avoid lease penalties and overpayments.
The software offers access to crucial documents and spreadsheets, keeping data up to date in real time. There is also the ability to allocate tasks and track accountability of colleagues.
If you work in the real estate sector, it is clear that projects are time sensitive and your professionals need to be mobile.
Therefore, most of the platforms are based on the cloud and include an active scheduling functionality, helping to manage important deadlines while you are on the move.
The offer of automated payments and notifications must also be a crucial factor in the success of these eight real estate project management software.
A lot of activity in real estate must, by its nature, be repetitive and if this can be automated then the time of a professional can be freed up for other, more important, things.
The more bespoke software may give you features like lease templates and online portals, but more generic project management platforms tend to see business in the round and offer collaboration and file storage options that are beneficial too.
The choice available allows you to pick out the features that best suit your purposes.
For more choices, read our article on the best project management software for more generic options.