MRI Property Management Software Reviews: Pricing, Features, and Alternatives

Core business software systems must be carefully selected, regardless of the industry. Typically, these systems will form the center of many important operations, which means that they can make or break core business functions.

In the world of property management software, it's no different since the nuances of the different areas can get really granular. This is especially true when there are multiple properties, which may be different types.

Good property management software enables its users to effectively streamline operations. Much of this will come from the fact that the technological elements introduce the ability to offload certain manual functions.

For example, traditionally, a landlord or property owner would need to physically collect rent from tenants. However, if your selected vendor's software system has a payment gateway, this can eliminate the need to visit each tenant.

It gets even better when there's an open and connected ecosystem beneath the design that allows for interfacing with company bank accounts and automated payments. Suddenly, neither you nor the tenants need to think about the rent exchange since it will all be handled in the background.

Great customer support is also a plus. The last thing you want when you have questions or concerns is poor customer service in the form of unresponsiveness or delays. Time is money, after all. What if you're doing a quarterly direct debit income review and notice some software-based anomalies when it's reporting time? You'd need answers quickly!

MRI property management software is one of the options you may be considering, and you likely want to be as informed as possible before diving in, which is understandable. You've come to the right place as this is one of the most comprehensive MRI software reviews you'll find out there.

We'll cover all the bases from features to pricing to pros and cons. We'll even cover three incredible alternatives that you should think about before you make any final decisions.

What Is MRI Property Management Software?

MRI property management software is technically a subsection of the bigger MRI real estate software suite. Real estate companies will use it to manage a variety of areas such as offices and retail properties.

Of course, our concern is with the property management side of things that managers and owners alike would be interested in.

The system was designed for those who want to take advantage of a digital option that allows for time savings alongside business relationship enhancement and future-proofing.

One of the most outstanding elements of the system is its implementation of Platform X, which allows for immense data security in a custom repository that uses single sign-on authentication.

Additionally, thanks to built-in automation features, property managers and their teams can spend more time focusing on the other important elements of the business.

The support options offered are vast, including email, FAQs, phone support, chat support, and even a knowledge base that you can browse.

Choosing MRI software could be a step in the right direction to avoid the slew of costs you'd otherwise have to deal with as someone trying to manage a well-run property or collection of properties.

Realistically, many of the operations such as maintenance, accounting, administration, etc., can become huge cost centers from a management standpoint. Being able to consolidate the tedious effort and cost overhead allows for much smoother operations.

MRI Software Features

MRI software makes automation and management easier, as you can infer from the details provided above. Of course, it must have an impressive feature set to be able to help you with these business processes. The question is, what do these features look like? Why don't we take a look?

Integrated Accounting

The accounting element of things is arguably the most important. Many companies have suffered from a lack of sufficient records, cash flow challenges, etc. MRI aims to allow you to avoid all that with its proprietary integrated system.

Some of the modules included are accounts receivable, P&L, general ledger, accounts payable, accounts receivable, and balance sheets. As you can imagine, this means that you can have a better handle on the movement of funds in and out of the business.

Potentially more important is the fact that the records are well-kept and organized for retrievability. Custom reports are also available, allowing you not only to be able to pull essential data, but also to be able to interpret it at a glance.

Resident and Tenant Portals

This is one of the areas where MRI's approach to being user-friendly is important. On the one hand, there are owners and property managers who will have a lot of back-end access that allows the operation management to go smoothly.

What about the tenants, though? MRI includes a separate user interface for your tenants that is complete with a slew of engagement tools dedicated to ensuring that their stay with you is as smooth as possible. Residential management is about more than what you do on your end, after all.

Taking advantage of this feature set means benefits such as setting up online payment options, enhancing the use of the building, sharing crucial information, and more!

Mobile Apps & Solutions

The advent of technology continues to move at a rapid pace, which means that businesses must adapt to stay relevant. Property management software isn't going to hit the mark if it doesn't allow the kind of flexibility that today's world demands.

That's why MRI has implemented a collection of mobile apps and solutions. There are even web applications in the mix that allow you to transform the way you operate. This is the kind of setup that's needed to offer 24/7 flexibility.

Asset Management

Even property management businesses lose track here, especially when they don't implement a working system early enough. There are so many reasons why having a handle on your assets is non-negotiable.

Sometimes, you don't even realize a business process is going to be affected by a lack of assets until it happens, which is often too late. Maintenance is a key example of this. How can you effectively have your work orders carried out if the tools and equipment you should have aren't on hand?

Avoid such pitfalls with the integrated functionality that allows you to stay on top of your assets across the board.

Facilities Management

MRI tries to solve one of the biggest gaps on the facilities management side of things, which is information. Failing to get the mix right is one of the reasons why some firms like yours deal with wastage, unnecessary costs, and dissatisfied tenants.

As an MRI subscriber, you'll have access to what is called the Golden Thread of Information, which means all insights will be provided in an easily consumable format and one that is dedicated to your ability to make informed decisions.

AI Lease Management

No one needs to tell you at this point how prevalent AI is in the operational world. If nothing else, it means that systems will be capitalizing on their capabilities to help businesses achieve their expected outcomes.

MRI joins the train with its AI-powered lease management system. Even if you have multiple properties, you're getting a centralized lease and building information repository that will span your entire portfolio.

Even if your team is decentralized, everyone can operate as a single unit. Perhaps changes need to be made or action needs to be taken based on a lease agreement. Don't worry about it, because you'll know as soon as the data becomes relevant.

Energy Management

Oddly, energy costs are often an afterthought. Sure, it will be given some priority when systems are being installed, but what about monitoring and adjustment? That seems to be the missing piece.

MRI moves you along your Net-Zero journey quicker than before by allowing you to capitalize on leading energy software systems on the market. Not only will you be able to see where you are and where you can be cost-wise, but you will also have the insights to make the decisions that will eventually get you there.

Portfolio Analytics and Reporting

Each property you own will have individual areas that perform independently. These will feed into the performance of the property as an investment. As you may know, keeping up to date with one property is taxing enough.

With MRI, you can get all the key details of your entire portfolio at your fingertips. Sometimes, this is the kind of data that will lead to strategic decisions. Therefore, the analytics are made easy to understand and actionable.

Property Marketing

With your marketing data linked to lease data, it becomes possible to use the technology to attempt to fill vacancies faster.

This is where MRI Findspace comes into the mix. All your available properties can be attractively listed in an indexed and easily searchable format. With almost no effort at all, interested parties can get all the key details.

You are empowered to use your own website, which makes the process engaging for potential tenants. That's because you can use photos, videos, or even virtual tours to your advantage.

Of course, your leasing and marketing team will be getting real-time data from the property management software,

Building Operations

With a top-level view, no longer will your building operations feel like a silo-type deal. It's that much harder to miss anything when you have a true overview of every element that is a part of the management suite.

Stay on top of every cost, every activity, and every important move to ensure that the buildings are well-kept and that the tenant satisfaction metrics are as high as possible!

MRI Pricing

Pricing is one of the weirder elements of the MRI equation, and unfortunately, that means we won't be able to say much about what you should expect to pay if this is your property management software vendor selection.

There's no indication of the way licenses are done and what metric is used to calculate the cost. You'll have to reach out to the MRI team and submit whatever information is required. The expectation would be that in doing so, you'll get further details on the pricing.

Does MRI Offer a Free Trial?

From what we can see, there isn't a free trial that you can independently use. However, you'll see demo request options pretty much all over the site. Using that offering, you can get a look at what the platform can do for you before you ever commit to a purchase.

MRI Pricing: An Overview

Since you'll have to reach out to the support team, there isn't much we could say about pricing that would be extremely helpful. We think it's much better when these software systems are transparent with at least one of the available plans so you don't have to go through a whole information provision and communication process just to then make an informed decision.

MRI Review: Pros and Cons

At this point, there's quite a bit you know about the MRI software system including its features and how the pricing structure (or lack thereof) works. Now, let's look at some of the ups and downs that come with using it.

We assembled these based on customer reviews. Since you're considering being a customer yourself, it's the best way to give you relevant information.

Pros

1. In migrating from an existing system, the implementation team from MRI will assist customers in getting things configured.
2. The real-time data provided is quite accurate.
3. Customization is allowed to make the product feel like yours and adapt to your business needs.
4. You will have an account manager whom you can attempt to channel concerns through.

Cons

1. The introduction of new features may be at a pace that doesn't allow your company to adapt and capitalize on your spend well over time.
2. There is sometimes a slow response from the customer support team.
3. Glitches exist that the developers never seem to work out of the system.
4. The interface is not the most user-friendly, which can leave a bit to be desired on the navigation side of things.
5. The web training approach can make the process difficult.
6. The reporting element is a bit limited, which may mean you need to depend on third-party reporting tools to get the output you need.

Three Competitors to Consider

With all that has been said so far, you now have the full fundamental picture where MRI is concerned. There's no doubt that the system does a lot right.

However, there are a few troublesome gaps. For example, there are constant bugs that can really break the user experience. Additionally, customer support is not consistent and reporting could do with an update. It also doesn't help that the user interface is not the most friendly in the world.

For these reasons, and potentially others, you may want to give using one of these three alternatives some thought.

1. DoorLoop

DoorLoop is an amazing alternative because of the way it was created to fall in line with your management style regardless of the number of properties that you have. The considerations made here aimed to address all the standard needs that property managers would have.

With those handled, other functionality is present that helps to enhance the overall experience. Bear in mind too that DoorLoop's property management software is purely designed around that function.

Why is this important? While MRI is good, for example, it's a whole real estate suite that has a property management component. So, what you'll find is some features are not specialized enough since they are meant to support residential spaces as well as commercial spaces such as offices.

DoorLoop is completely laser-focused on property owners and managers who will be leasing spaces to tenants. It also helps that the onboarding process with DoorLoop is a breeze! Do you already have another platform in place? The idea of change can be daunting, even if you know you're moving to a superior system!

You can let all of those concerns go since the DoorLoop team will provide migration support for free. Did we mention that there is an unlimited training offering that goes alongside this?

While all that sounds great, the features matter. So why don't we look at what DoorLoop has to offer?

DoorLoop Features

1. Maintenance requests: Not only are these important for business maintenance, but they are also a key piece of the landlord-tenant relationship puzzle. With DoorLoop, there is a tenant portal that your residents can use to submit their maintenance needs. This will make the process of acting on them that much easier for you.
2. Integrations: We know that we can't do everything, but we can definitely work with popular systems to create solutions that work for you. From MailChimp to Outlook to Google Mail and Drive, to QuickBooks, and more, enjoy an interconnected and seamless workflow. There are thousands of integrations for you to dive into!
3. Rent collection: DoorLoop will handle your rental transactions with ease. Your renters can either choose to pay manually or they can have the funds deducted automatically and sent to you. The process is also underpinned by transaction recording, which means that you can always refer to payments or lack thereof when needed.
4. Accounting: Earlier, we spoke about the importance of monitoring your inflows and outflows. That's why DoorLoop has an end-to-end accounting suite that doesn't even require you to have deep accounting knowledge to use it. Did we mention that you'll be provided with all the assistance you need to have it set up as well as guidance on accounting best practices to keep you in check?
5. Marketing: A vacant property is making no money, and one of the best ways to have vacancies filled is via advertisements. Take advantage of immersive listings, stay on top of results, and more!

DoorLoop Pricing

Working with DoorLoop will only cost you $59 a month for your first 20 properties, so there's no huge bill to worry about. Additionally, when you sign up, the first two months will see you getting a 50% discount.

2. TurboTenant

TurboTenant is another well-put-together alternative to MRI. It has a small combination of useful features, and one of its claims to fame is how much it can do for you with the application process.

When you have vacancies you can have them sent out to selected listing sites, which is pretty normal for these kinds of systems. However, the views that potential tenants get allow them to use their mobile devices and computers to easily apply for whatever listings they may be interested in.

The system then has a screening element built in that allows you to ensure that a person meets at least the minimum requirements before you choose to take the next step.

Those who use the platform like the way it addresses the more granular details. It's also incredibly cheap, though the feature set leaves a bit to be desired, with essentials such as accounting nowhere to be found.

TurboTenant Features

1. Tenant screening: Having the wrong person rent your property can be a long-term nightmare, and one of the best ways to avoid that is to have a proper screening process. TurboTenant allows you to do income verification, criminal background checks, and credit history with a soft check to avoid being an inconvenience to the applicant.
2. Online rent payments: As you'd expect, the platform allows tenants to make their payments online and this can be done either manually or automatically. However, things go a step further with payment notifications, insights on who owes, tardiness, etc. The paper trail here is very detailed.
3. Documents and management: If there's one thing that consumes a lot of time under the property management umbrella, it's the administrative work that goes into the equation. Thankfully, TurboTeant aims to ease that burden with management features such as electronic signatures, document management, expense tracking, and more.
4. Advertising: The rental advertising system here is very well done, allowing you to take your listings to the next level with media elements in the mix. As indicated before, thanks to the well-designed application side of things, the whole process of applying, screening, and selection becomes a lot more streamlined.

TurboTenant Pricing

TurboTenant offers two subscriptions. One of these is a permanently free plan that will give you most of the features available. The premium offering is billed annually and costs $99 yearly.

3. Landlordy

Landlordy is a good choice if you're more of a mobile app user than a PC user. That's because it's only available on Android and iOS. Furthermore, the data is stored on your device as opposed to in the cloud.

Nevertheless, it does a good job of helping landlords and property managers to be as organized as possible by eliminating busy work, controlling finances, and communicating well.

Lanbdlordy Features

1. Tenant payments: You can easily log rental payments, which will affect the tenant balance and payment history details in real-time. You can even provide receipts via message or email.
2. Maintenance and safety: Take advantage of easy appliance safety check scheduling and keep track of all the associated service records in one convenient place.
3. Communication: Since the app is on your smartphone, its integration with the OS allows you to quickly send emails or text messages that could contain text, reports, receipts, and more!
4. Expense receipts: Having your digital expense receipts on hand means that you can maintain a better handle on when you pay for things.

Landlordy pricing

You can use the app free for private use, but the features are severely limited. There are three paid plans costing, $14.99, $49.99, and $99.99, all of which are one-time payments. With each step up, you can manage more properties and get access to more features.

Try It

To be an efficient property manager or landlord, you need the kind of software that empowers you to do so at a reasonable price.

DoorLoop provides all the features you need including a complete accounting suite, tenant communication tools, user-friendly interface, automatic payments, great customer support, and more!

Schedule a free demo to see what it can do for you!