If you’re a remote landlord, a reliable property management system is crucial. Luckily, as remote management has become more common, so have rental management software programs. And for small landlords, Landlord Studio offers high value for a low price.
A cloud-based management software solution for modern landlords and property managers, Landlord Studio is designed to streamline all aspects of property management. That includes accounting, tenant screening, online rent collection, and even routine property maintenance.
While all of these tools can definitely come in handy, is Landlord Studio right for you? To help you decide, we’re exploring Landlord Studio’s features, pricing, and who will benefit the most (and the least) from the software. Let’s get started.
What is Landlord Studio?
Landlord Studio uses cloud-based computing to assist with all aspects of remote rental property management. The program enables landlords and property managers to automate routine tasks and easily handle other responsibilities, like tenant communication, screening, and bookkeeping, in one place.
You can also find several online resources on Landlord Studio’s website, ideal for first-time or less experienced landlords who still need to learn the ropes. Their “Landlord University” page contains guides on everything from rent collection to property listings.
Rental property owners with small portfolios can access many of these tools for free. However, you’ll have to take a closer look at the program’s features and pricing to decide whether Landlord Studio will meet your property management needs.
Reviewing Landlord Studio’s Features
To simplify rental management as much as possible, Landlord Studio offers a suite of features to help landlords and property managers. Here’s what you should know:
Rental Advertising
When it comes to rental vacancies, the shorter, the better. With Landlord Studio, landlords can easily list their available units for free, and the platform will syndicate listings across other top rental websites like Zillow, Zumper, and Trulia.
Landlord Studio also offers an AI-powered listing generator that lets landlords list properties faster. Once you start seeing interest in your listing, you can collate those leads and send pre-screeners through the platform to save time securing a high-intent renter.
On average, landlords receive 14 leads within just 2 days of listing their rental, so you can fill those empty units faster. With that said, though, some have mentioned receiving spam messages—as with any listing platform, use your best judgment.
Rental Applications
Landlord Studio makes the rental application process seamless for both landlords and tenants. Tenants can apply directly on Landlord Studio after finding and viewing your rental listing, encouraging your next potential renter to get their application done sooner rather than later.
This goes a long way toward reducing vacancy rates, ideal for both small and large landlords. Additionally, Landlord Studio’s free application template can speed up the process even further, ensuring you don’t miss any critical questions within the parameters of rental law.
As part of those resources we mentioned, Landlord Studio can also answer any lingering questions you might have about rental applications, such as what to look for in an applicant or how much you can charge as an application fee.
Tenant Screening
Tenant screening is a crucial part of finding a new renter while protecting your property investment. Landlord Studio partners with TransUnion to thoroughly screen applicants’ criminal, credit, and eviction history, painting a complete picture of your next potential tenant.
To screen tenants on Landlord Studio, landlords simply provide the applicant’s email address. After the tenant verifies their personal data, landlords can view the report right on their account. Additionally, TransUnion performs a soft credit check that won’t damage applicants’ credit scores.
Even so, Landlord Studio’s screening reports are remarkably detailed. Landlords can view a tenant’s credit score, address history, and any red flags, such as past bankruptcies and evictions. Plus, Landlord Studio will verify the tenant’s identity and social security number to prevent fraud.
Maintenance Coordination
Believe it or not, Landlord Studio even enables landlords to handle property maintenance remotely. The software has a free maintenance coordination tool that keeps you up to date on new requests, tenant communication, and the details of overall job costs.
Landlords can also benefit from the software’s automatic recordkeeping and reminders, especially for urgent tasks. No need to worry about when you last cleaned the gutters or reshingled the roof—you can check your records and schedule your next service on Landlord Studio.
While this is a key advantage over other platforms, some landlords and managers have reported frustration with Landlord Studio’s limited vendor assignment capabilities. If you place a high value on hands-off property maintenance, you may need to factor that in.
Lease Agreement Generation
Rather than searching for a generic lease agreement online, landlords can source a legally binding, customizable lease from Landlord Studio. The company partners with Rocket Lawyer to offer landlords a full library of legal documents, including leases.
Landlord Studio supplies both month-to-month and fixed-term lease agreement templates. Landlords will also find an index of state-specific legal pages with further lease guidance and sample agreements, keeping you fully informed about landlord-tenant laws in your area.
However, there is one downside to leasing on Landlord Studio. The software doesn’t have e-signature capabilities, so while you can upload and store signed leases, you and your tenant will need a separate program to fill out any documents digitally.
Rent Collection
Gone are the days of receiving rent by check or through questionable apps—landlords can charge and securely collect rent payments in one place via Landlord Studio. This feature is free, except for a $2.50 transaction fee that you can pass along to the tenant.
Tenants can pay by card or direct deposit and can also set up autopay, a convenient way to reduce the frequency of late rent payments. Landlord Studio even facilitates non-rent transactions, such as security deposits, late rent fees, and parking payments.
While Landlord Studio promises a transaction time of 3 to 5 business days, payments can take up to 7 days to process. Additionally, the program limits international payments, and bank feed integration is only available in the U.S., Canada, and the United Kingdom.
Accounting & Bookkeeping
The accounting and bookkeeping feature on Landlord Studio is one of the software’s top selling points. The company’s cloud-based financial tracking all but eliminates the need for confusing paper trails, making for a seamless filing experience during tax season.
Like similar property management programs, Landlord Studio’s accounting feature is designed specifically for landlords. The software’s core expense and rent tracking tools automatically update, so you can stay organized, save valuable time, and reduce the risk of errors.
As helpful as Landlord Studio can be in this regard, users note that the software falls short when it comes to more complex accounting. But if you have relatively simple rental finances, Landlord Studio could be just what you need.
Mobile App/Compatibility
Both tenants and landlords can use the Landlord Studio app, a robust tool that lets you address all aspects of the rental process on the go. Notably, the app is available to Android and iPhone users alike.
The interface is highly user-friendly, to the point that some users say they prefer it over the desktop program. However, the app lacks a few Landlord Studio features, such as move-in and move-out reports and advanced lease management.
On the plus side, though, the Landlord Studio app has a dedicated customer service team available for user support. And considering that the majority of Landlord Studio’s tools are still available on mobile, the app remains worthwhile for many.
Landlord Studio Pricing
Landlord Studio offers many of its core features for free, along with two paid memberships. Take a look at the pricing breakdown here:
Go: Free
- Rental advertising and syndication
- Screen tenants
- Collect rent online
- Document storage (up to 10)
- Customer support access
- Income and expense tracking
- Standard reporting
- Available for single users with three units or fewer
Pro: Starts at $12/month
- Everything in the Go plan
- Integrated rental accounting and direct integration with Xero
- Automatically send rent payment reminders
- Document storage (up to 250)
- Priority customer support
- Automatic categorization of bank feeds and expenses
- Tax reports, including Schedule Es
Pro Plus: Starts at $28/month
- Everything in the Pro plan
- Priority rental listings
- Store unlimited documents
- Help from an account manager
- Available for up to 10 users
- More detailed pre-screenings
- 20 bank feed connections
- Unlimited automatic reminders for renters
With this in mind, Landlord Studio is one of the more cost-efficient property management software solutions on the market. But let’s compare it to similar programs:
- TurboTenant: Starts free, paid plans from $9.92/month
- Buildium: Starts at $62/month
- TenantCloud: Starts at $16.50/month
- RentRedi: Starts at $5/month
- Avail: Starts free, paid plans from $9/month per unit
Pricing for Premium Add-On Features
Although most of Landlord Studio’s features come with one of the above plans, the company does charge additional small fees for certain services, including:
- Online rent collection: $2.50 per transaction (can be paid by tenant or landlord)
- Extra units: After the first three rental units, $1/month per additional unit on the Pro and Pro Plus plans
- Tenant screening: $55 with Go or Pro plans; $45 with Pro Plus plan (can be paid by tenant or landlord)
Minimal though they may seem, these costs can add up quickly. Plus, asking renters to cover too many fees could make tenants unhappy.
Who Landlord Studio is for
Now that we’ve run the numbers and seen the features available at each price point, it’s worth noting who will get the most use out of Landlord Studio:
- Independent landlords and managers
- Landlords who operate only a few rental properties
- Landlords who want to automate as much as possible
- Landlords who wish to manage on the go
Given Landlord Studio’s strong mobile app, those who prioritize mobile management won’t be disappointed. The software also walks the line between DIY and automation, letting you stay hands-off on many tasks while still overseeing the most important ones.
Who Landlord Studio isn’t for
Naturally, Landlord Studio won’t be the right pick for every kind of landlord or property manager. You might want to look into a different platform if you:
- Are not based in the U.S.
- Require complex accounting capabilities
- Manage a large portfolio
- Are not tech savvy
While Landlord Studio has a relatively simple user interface, paper-based landlords may find the learning curve too steep. Plus, the software is limited for non-U.S. bank accounts, and those who require complex accounting often find Landlord Studio frustrating.
Is Landlord Studio for you? (Conclusion)
Landlord Studio features a comprehensive suite of tools to assist landlords, property managers, and even tenants throughout the rental process. With online rent collection, rental advertising, tenant screening, and much more, this cloud-based software program is one of the best in the business.
However, Landlord Studio does have its issues—even the paid plans cater to landlords with only a few rental properties, and bookkeeping and rent collection are often difficult for landlords outside of the U.S. So, the program isn’t perfect for everyone.
If you think Landlord Studio might be the right fit for you, sign up for a free account so you can get started. Or, if you’re still on the fence, take a look at other, similar property management software, such as TurboTenant.
FAQs: Landlord Studio Review
Is Landlord Studio legit?
Yes, Landlord Studio is a legitimate rental property management software company. With most features available worldwide to landlords, the program offers a suite of resources and tools to help remote landlords manage their rental properties on the go.
Does Landlord Studio do a hard credit check?
No, Landlord Studio does not do a hard credit check. Unlike other property management programs, during the tenant screening process, Landlord Studio works with TransUnion to run a SmartMove soft credit check, which does not negatively impact a renter’s credit score.
Does Landlord Studio have a free version?
Yes, Landlord Studio has a free plan with several helpful tools for landlords. However, the plan is relatively limited, allowing only up to three units, and it also includes additional costs such as rent transaction fees and screening fees.