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The thought of manually tracking expiring leases, state-specific compliance requirements, and individual tenant terms across multiple units can feel like another job entirely, leaving you with late-night stress and weekends wasted on administrative chaos.
A lease tracking software turns this chaotic pain into a smooth, automated process that ensures no missed lease renewal deadlines, compliant lease creation, and faster tenant onboarding.
In this article, we discuss features and pros & cons of top 8 software to help you track and manage leases across all your properties.
Key takeaways
- Dedicated lease tracking software is necessary to move beyond manual, time-consuming methods and is fundamental for scaling your portfolio.
- Look for software that offers a secure, digital repository with instant cloud access for all documents. Critical features include automated reminders for renewals/expirations, proactive scheduling of notices, and integrated expense/income tracking.
- Baselane offers core lease tracking and management features free of charge. This includes built-in e-signature capabilities and unlimited free virtual bank accounts for compliant security deposit separation.
- Competitors like DoorLoop and Buildium have high starting prices (up to $69/mo), while others, like TenantCloud, limit essential features such as lease creation or charge extra fees for e-signatures
What key features should you look for in lease tracking software?
A great lease tracking software should help you keep track of lease across properties and go beyond that by helping you keep them organzioed and compliant. While evaluating options, consider the following key features
- Secure, digital repository: The platform must provide a secure, digital repository for all critical documents, including the original lease, amendments, tenant screening results, and all related correspondence, ensuring a complete record for any legal audit.
- Instant retrieval and cloud access: Look for mobile and cloud access to instantly retrieve any clause or detail, whether you are on-site, meeting with your accountant, or dealing with a legal issue.
- Automated reminders: The system must provide automated reminders for essential dates like lease expiration/renewal options and security deposit return deadlines.
- Proactive scheduling: Ensure the system allows you to act well in advance of a deadline—for instance, helping you schedule and send required legal notices for rent increases or lease terminations.
- Automated rent collection: The software should seamlessly handle online rent payments (Automated Clearing House (ACH) and credit card) and automatically log the transaction against the corresponding tenant ledger for easy tracking.
- Expense and income tracking: Look for the capability to log all property-related income and expenses, ideally with automatic categorization to simplify financial reporting and streamline tax preparation.
- Dedicated tenant portal: Provides a secure, private way for tenants to submit maintenance requests, view payment history, and facilitate a streamlined communication trail in one place.
Best lease tracking software for property management
1. Baselane
Trustpilot rating: 4.6 ⭐
Baselane is a banking platform designed for real estate investors. It includes lease tracking and management alongside your banking and accounting tools. Because Baselane connects lease management with automatic rent collection and separate bank accounts for your properties, it gives you full control over your rental money. It's perfect for investors who want to manage all their finances and properties in one easy, free platform.
Key lease tracking features:
- Online lease creation and storage: Upload and store all lease agreements in a single, secure digital hub, making it easy to reference specific clauses or documentation instantly.
- Built-in e-signature capabilities: Legally sign leases and renewal documents digitally, simplifying the onboarding process and improving turnaround time.
- Automated rent schedules and reminders: Directly links the lease terms to automated rent invoicing and reminders for tenants, reducing late payments and the need for manual chasing.
Baselane pros and cons
Pros:
- Lease management is integrated with rent collection, banking, and automated bookkeeping.
- The free-for-landlords model includes unlimited virtual bank accounts for easy security deposit and expense separation.
Cons:
- Mobile app functionality is currently under development.
- Focus is on financial management and core property operations, not full-service property management coordination.
Pricing
Baselane Core offers lease tracking and management features free of charge.
2. DoorLoop
Rating: 4.6 ⭐
DoorLoop is property management software that offers built-in property lease tracking on its starting paid plan. You can screen tenants, send leases to e-sign,. And leep track of the entir eprocess in Doorloop’s CRM.
Key lease tracking features
- Helps you manage all leases, renewals, and related property documents in a single space.
- Allows you to set a late payment policy for each property, which is then automatically applied and tracked by the system.
- Offers digital lease signing capabilities to expedite the move-in process.
Doorloop pros and cons
Pros:
- The centralized system consolidates leasing, accounting, and maintenance into one platform.
- Robust features for managing multiple property types, including setting up recurring payments and scheduling future rent increases.
Cons:
- Higher starting price than many competitors, making it less ideal for small portfolios.
- Some users report the platform to be not user-friendly with a steep learning curve.
DoorLoop pricing
Starts at $69/mo for the Starter plan and gives access to all of its lease tracking features, except e-sigature templates.
3. TenantCloud
Rating: 4.3 ⭐
TenantCloud is a cloud-based property management solution that helsp you keep track of lease throughout the tenant lifecyle. The platform excels at document management and communication, providing a dedicated portal for tenants to access essential documents and communicate with their landlord.
Key lease tracking features
- Automatically notifies you when a lease is approaching its expiration date, helping you stay ahead of renewals and minimize vacancies.
- Offers a visual lease timeline that makes it easy to see who’s living where, for how long, and what’s coming up next.
- Send lease to tenants for e-sign and store it within the platform.
TenantCloud pros and cons
Pros:
- Enables the upload, storage, and easy access to leases and maintenance records in a centralized location.
- Allows landlords to adjust rules for due dates, late fees, and partial payments for each tenant.
Cons:
- The starting plan offers limited (only 10) lease creation, making it an expensive option compared to others on the list.
- Payment processing can take up to seven days, which is slow compared to competitors.
TenantCloud pricing
Starts at $16.50/mo (14-day free trial) with only 10 lease creations.
4. Hemlane
Rating: 4.8 ⭐
Hemlane is an all-in-one property management solution that focuses on automating tasks like lease management and maintenance coordination for small to medium-sized businesses.
Key lease tracking features
- Lease renewals: Send automated notifications 90 days before a lease ends.
- Document storage: Track and manage all leases, including recording rental prices, length of stay, and critical deadlines
- Tenant communication: Direct and private communication with tenants to discuss lease terms or renewal options, keeping an organized communication trail.
Hemlane pros and cons
Pros:
- Offers zero-fee ACH transactions for rent collection on all paid plans.
- Comprehensive lease management features, including document storage and e-sign functionality.
Cons:
- No dedicated mobile app.
- Pricing includes a monthly base fee in addition to a per-unit fee, which can be confusing.
Hemlane pricing
Free plan available with lease creation and e-sign only. Basic paid plan starts at $30/mo for 1 unit.
5. TurboTenant
Rating: 4.5 ⭐
TurboTenant offers a solid range of property lease tracking features but on its paid plan. It also offers lease management and tenant screening tools that can help you manage tenant communication and make the entie process simpler.
Key lease tracking features
- Customizable leases: Create state-specific leases and tailor each lease to the rental's unique features.
- Online rent payments: Facilitates easy online rent collection that is linked to your tenant and lease records, with automatic rent reminders and late fees.
TurboTenant pros and cons
Pros:
- Lease signing is completely free but you still need to pay for the paid plan.
- Fixed price on the Premium plan regardless of the number of properties, which is great for scaling.
Cons:
- Lacks integrated accounting and robust reporting tools, requiring manual effort for tax preparation.
- Some fees, such as application fees, are passed on to the tenants, which may make your listings less competitive.
TurboTenant pricing
Free to use but lease tracking features are not offered. They’re offered at Essentials plan starstin at $9.92/mo.
6. Stessa
Rating: 4 ⭐
Stessa is a property management software that offers integrated document management and lease tracking. You can advertise a listing, screen tenants, and start the signing process.
Key lease tracking features
- Legal forms and templates: Access to a library of legal forms and templates to scale lease creation.
- e-signature: Stessa offers digital lease signature through Docusign.
- Tenant screening: Helps you screen tenants by running key reports like credit check, eviction history, and income verification.
Stessa pros and cons
Pros:
- Offers an online document storage feature to organize and store all real estate-related documents, including leases.
- Helps you keep tenant communication centralized.
Cons:
- Basic lease tracking features
- Online rent payment only supports ACH transfers, limiting tenant payment flexibility.
Stessa pricing
Stessa offers a free plan but lease tracking features are only available with a paid plan starsting at $12/mo.
7. Buildium
Trustpilot rating: 4.3 ⭐
Buildium is recognized as one of the top lease tracking software solutions for landlords and real estate investors due to its robust features, comprehensive leasing tools, and user-friendly interface.
Key lease tracking features
- Centralized lease management: Track, store, and manage leases, renewal dates, addenda, and critical deadlines in a single dashboard.
- Lease template creation: Generate and customize lease agreements and addenda for new and existing tenants.
- Document management: Securely store and manage lease documents alongside other property records.
Buildium pros and cons
Pros:
- Intuitive and user-friendly interface
- Extensive integration options for screening, payments, and online showings
Cons:
- Does not automatically generate all legal notices (such as rent increase or eviction forms), requiring manual preparation by landlords.
- Sole proprietors with few units might find it more complex than needed.
Buildium pricing
No free plan. Paid plan starts at $62/mo ($5 per eSignature)
Role of AI in rental property lease tracking
AI is making waves across property management software that offers built-in lease tracking and management. Here’s how use cases of AI can evolve across multiple lease management software.
- AI-powered lease abstraction: I tools can "read" a lease and automatically extract critical clauses and rental terms with over 95% accuracy, saving time and preventing costly mistakes. The cost per lease processed can drop from over $100 manually to as little as $20 with AI.
- Automated rent pricing and analysis: AI algorithms can analyze market data, property features, and neighborhood trends to recommend optimal rental rates. This helps landlords maximize their income and minimize vacancies by ensuring their pricing is competitive and data-driven.
If you’re curious to avoid such platforms, check out our guide on best AI lease abstraction tools.
Track and manage rental property lease with accuracy
Manually tracking leases is a high-risk time sink. The right real estate lease tracking software automates compliance and protects your cash flow.
While there are multiple software to consider, Baselane shines among all of them due to its integrated approach. Each lease you create is integrated to our rent collection helping you manage rental payment from the get go. Furthermore, you can track your rent payment in our integrated bookkeeping helping you ensure compliance with lease terms and prepare your books for tax season. Start tracking your lease with Baselane today!
FAQs
What is lease tracking software?
Lease tracking software is a digital tool designed for landlords and property managers to organize, manage, and monitor all aspects of a rental lease agreement. It centralizes key documents, automates rent collection and reminders, and tracks important dates like expirations and renewals in a single platform.
How does rent tracking software work?
Rent tracking software typically works by providing tenants with an online portal to make payments via ACH or credit card. The software automatically records these payments, sends reminders for upcoming due dates, calculates any late fees, and updates the landlord's financial ledger in real time, providing a clear view of who has paid and who is overdue.
Is free landlord software really free?
Most free landlord software is free for the landlord to use, but there can be associated costs. These often come in the form of transaction fees passed on to the tenant for online payments, or limitations in the free plan that require upgrading to a paid subscription to access premium features like e-signatures, advanced reporting, or customer support.
What are the best practices for tracking lease income and rental payments?
The best practice is to use a dedicated software platform that automates the process. This includes offering tenants online payment options, setting up automatic reminders and late fees, and integrating your rent collection with a bookkeeping system that categorizes income by property. This creates an accurate, real-time financial record and minimizes manual data entry.
