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Property Matrix Review

Property Matrix
Our score: 7.9 User satisfaction: 95%

What is Property Matrix?

Property Matrix is a user-friendly, easy-to-use, and customizable property management software designed and built to make the lives of residential property managers, owners, and tenants easy. Equipped with powerful features and automation capabilities, the software helps property management companies and their staff save time, work smarter, increase efficiency, and grow their business. The property management software delivers online payment processing features that enable users to collect rents and fees from tenants via check, ACH, or credit card payments without the need to worry about transaction or processing fees. They can also scan checks, automatically deposit payments to their bank account, and print checks for any bank account.

Property Matrix has an enterprise-class accounting solution that can handle tedious and complex accounting processes and tasks. Users will be able to quickly enter and track all transactions for their company and owners, as well as manage different sets of books. Transactions can be broken down into line items which can be edited, permitting users to track details of transactions based on separate accounts and categories. The accounting solution includes processing of multiple payments from tenants and payments for vendors, setting up of multiple leases for a single unit, managing multiple tenants from a single lease, and sending of customizable owner statements.

With Property Matrix, different information from tenants, applicants, and staff can be gathered and tracked by creating custom fields. Automated workflows and tasks can also be created to generate actions instantly based on any condition. For instance, maintenance tickets are automatically created when tenants move out or email notifications are sent if tenants make payments. The software offers comprehensive document management features which include the ability to create any type of form or document and automatically fill it out with information, scan bills to be attached to documents, sign documents electronically, and track notes and conversations from staff.

Property Matrix comes with a central hub that organizes all pertinent documents and communication histories in one place. Likewise, it provides users with the capability to have professionally designed websites where they can post their buildings and vacant units, capture prospective tenants and collect information from them, and process online applications. Last but not least, the software has online portals where owners can access lease documents, financial statements, and other information and documents related to their properties; and where tenants can pay rents and submit maintenance requests.

Overview of Property Matrix Benefits

Enterprise-Class Accounting Solution

The enterprise-class accounting solution offered by Property Matrix is what makes it a powerful property management software. This accounting solution is designed to manage complex accounting processes, eliminating the need for workarounds and third-party accounting tools. Regardless of the number of units property managers and staff are handling, the solution ensures that they are able to perform the toughest accounting tasks.

Organize And Track Transactions Using Line Items

The accounting solution has a line item feature which permits users to organize all their transactions in such a way that they can be broken down into specific line items. Thus, it enables them to drill down into the details of every invoice, bill, management fee, and other transactions. The line items can be categorized and any information they contain can be edited. For instance, line items can be associated with different accounts, sites, sets of books, or companies. So, if a tenant sends a rent payment, the software automatically applies it to different income accounts. When a vendor provides only a single bill for the services it delivered to multiple buildings; through line items, users will be able to apply the bill to the correct buildings. Because of this, their tasks are streamlined, productivity is increased, and finances are tracked easily.

Manage Sets Of Books

Property Matrix’s accounting solution permits property managers to prepare and handle different sets of books for owners and companies. As they create sets of books, each company or owner will have a separate balance in their chart of accounts. Individual reports can also be generated for every sets of books or multiple sets of books can be combined into one report.

Recurring Transactions

With Property Matrix, preparing invoices and bills, and collecting payments for recurring transactions is a breeze. Users can create recurring invoices and bills for their vendors and tenants, and make the needed adjustments at any time. For example, if there is a rent increase, they will be able to quickly adjust the current invoice and apply the changes to future invoices. In addition, payment reminders can be created and scheduled as they prepare recurring invoices and bills. Scheduling payment reminders is very useful especially when they need to add extra charges to their bills or invoices at certain periods of time.

Set Triggers And Automate Actions

As part of its customization features, Property Matrix provides a very interesting feature that automates property management tasks. It has a built-in Trigger-Condition-Action system that allows users to create conditions so that specific actions will automatically happen when such conditions are met. Through this system; they can automatically receive emails when tenants pay their rents online, send late payment notifications to tenants if rents are past due, and generate maintenance tickets after tenants move out. Maintenance tickets can also be created automatically when the insurance policies of units are near expiration.

Collect And Track Information Efficiently Through Custom Fields

Collecting and tracking all important information related to tenants, prospective tenants, leases, units, and buildings is optimized by another customization feature available in Property Matrix. This feature is the capability to set different types of custom fields. Custom fields are used to specify what pieces of information should be entered or included in notes, forms, or reports. In addition, any information entered or selected in the custom fields can trigger automated actions. If users want to track conversations and notes from their staff, these custom fields will help them do that easily; allowing them to determine which staff wrote the notes, what notes were written, and when they were written.

Comprehensive Document Management

Property Matrix is equipped with a comprehensive document management system which enables users to generate, organize, and send all the documents that owners, tenants, and vendors need. For example, it gives them the capability to attach documents to email messages and send emails directly within the software. To make it easy to search for documents, they can also tag documents as they upload them into the software. They can even preview the documents in various formats.

Create Custom Forms

The property management software’s document management system permits the creation of a variety of forms which can be customized. These forms include notices, leases, contracts, legal documents, and more. Users will be able to generate forms from scratch through the aid of its built-in editor, customize their designs, and apply the formatting that matches the brand of their company.

Fill In Data Automatically

In addition, users also have the option to use their existing documents and customize them as they create forms. They can scan PDF documents, upload them, and drag and drop data fields onto them. Once the data fields are placed, the software automatically inserts information into the data fields while the forms are being sent; filling the forms with data or information from their units, buildings, or from the custom fields they set up.

Collect Electronic Signatures

The document management system features a flexible document signing capability. With such capability; owners, tenants, and vendors will be able to electronically sign documents right straight from Property Matrix. Also, by setting up conditions and automated actions, users can automatically send the documents that owners, tenants, and vendors need to sign. After the documents have been signed, they will also be notified using the same task automation feature. The signed documents are stored in the profiles of those who signed them as well as in the Communications Hub, making it easy to access and retrieve the documents.

Organize All Communications In One Place

Property Matrix has an online portal called Communications Hub. This portal keeps a record of all conversations made with tenants, applicants, vendors, and owners. Moreover, it stores all important documents and attachments which include lease agreements, letters, invoices, and reports. This is a powerful feature because users are no longer restricted to keeping messages and conversations in their inbox and having a hard time looking for them. Likewise, it enables them to be always updated on the latest conversations.

Professionally Designed Building Websites

Summing it up, Property Matrix provides users with the ability to showcase their properties, buildings, and units; and capture prospective tenants using websites. Here, each building is provided with a website that is professionally designed. As they post their available units, they will be able to add details and contents such as amenities, photos, features, and other specific descriptions. They can also include important building information like address, maps, and instructions that guide prospective tenants so they can go where the building or unit is located. If they want to update building or unit information, or edit photos; they can do that anytime they want. From the website, online applications can be processed and application fees from prospective tenants can be collected as well.

Overview of Property Matrix Features

  • Enterprise-Class Accounting
  • Line Items
  • Management Company Accounting
  • CAM Charges
  • Sets of Books
  • Multipay
  • Multiple Leases and Tenants
  • Owner Statements
  • Recurring Transactions
  • Subaccounts
  • Transaction History
  • Zero Cost Payments
  • ACH Payments
  • Check Scanning
  • Credit Card Processing
  • Customize Everything
  • Automatic Actions
  • Custom Fields
  • Labels
  • Fee Structures
  • Custom Reports
  • Properties Page
  • Setting Profiles
  • Universal Search
  • Comprehensive Document Management
  • Create a Form
  • Document Signing
  • Maintenance Tickets
  • Audit Trail
  • Communications Hub
  • Email Blasts
  • Templates
  • Building Websites
  • Postings
  • Flyers
  • Lead Generation and Management
  • Online Application
  • Owner Portal
  • Tenant Portal

Property Matrix Position In Our Categories

Knowing that companies have unique business requirements, it is only practical that they steer clear of paying for a one-size-fits-all, ideal solution. At any rate, it would be difficult to come across such a software product even among recognizable software systems. The correct thing to do is to spell out the various critical factors that need deliberation like key features, pricing, skill aptitude of staff members, company size, etc. The second step is, you must conduct your product research fully. Have a look at some Property Matrix evaluations and scrutinize the other software systems in your shortlist more closely. Such comprehensive product research guarantee you weed out poorly fit apps and select the one that includes all the tools your business requires.

Position of Property Matrix in our main categories:

TOP 50

Property Matrix is one of the top 50 Property Management Software products

If you are considering Property Matrix it may also be beneficial to analyze other subcategories of Property Management Software listed in our base of SaaS software reviews.

Since each organization has unique business wants, it is prudent for them to desist from seeking a one-size-fits-all ideal software system. Needless to say, it would be pointless to try to find such an app even among market-leading software platforms. The intelligent thing to do would be to catalog the various vital factors that require consideration such as main features, budget, skill levels of workers, company size etc. Then, you should do your groundwork thoroughly. Read some Property Matrix Property Management Software reviews and investigate each of the other apps in your shortlist in detail. Such comprehensive homework can make certain you discard ill-fitting applications and choose the app that provides all the features you require for business success.

How Much Does Property Matrix Cost?

Property Matrix Pricing Plans:

Free Trial

Standard

$239/mo.

Ultimate

$289/mo.

Enterprise

Contact vendor

Property Matrix offers three SMB and enterprise pricing plans for all users to choose from. Most of the plans can be availed through a monthly subscription and the pricing of the plans varies depending on the features you wish to include. Give the details look, and select the best plan for your company:

Standard

  • $239/mo. – Billed Monthly
  • 225 Units Included – $1 For Each Additional Unit
  • Set Up Fee of 1 Month
  • Enterprise Accounting, Maintenance, Marketing, Portals, Custom Reports, and Unlimited Phone Support
  • Standard Features:
    • Custom Reports
    • Automatic Actions
    • Custom Labels
    • Users with Roles and Permissions
    • Properties Page
    • Multi-Theme Support
    • Independent Set of Books
    • Sub Accounts
    • Transaction History
    • Owner Statements

Ultimate

  • $289/mo. – Billed Monthly
  • 225 Units Included – $1 For Each Additional Unit
  • Set Up Fee of 1 Month
  • All Standard Features Plus: ACH, Credit Card, Check Scanning, e-Signatures, Mobile App
  • Ultimate Features:
    • ACH
    • Credit Card
    • Check Scanning
    • e-Signatures
    • Mobile App

Enterprise

  • Volume Discounts Are Available For 1000+ Units
  • Volume Based Pricing
  • Set Up Fee of 1 Month
  • All Standard And Ultimate Features
  • Enterprise Features:
    • ACH
    • Credit Card
    • Check Scanning
    • e-Signatures
    • Mobile App
    • Custom Fields
    • Custom Reports
    • Automatic Actions
    • Custom Labels
    • Users with Roles and Permissions
    • Properties Page
    • Multi-Theme Support
    • Independent Set of Books
    • Sub Accounts
    • Transaction History
    • Owner Statements

For more information about Property Matrix’s enterprise pricing plan, please contact the vendor and ask for a personalized quote.

User Satisfaction

Positive Social Media Mentions 27
Negative Social Media Mentions 1

We realize that when you make a decision to buy Property Management Software it’s important not only to see how experts evaluate it in their reviews, but also to find out if the real people and companies that buy it are actually satisfied with the product. That’s why we’ve created our behavior-based Customer Satisfaction Algorithm™ that gathers customer reviews, comments and Property Matrix reviews across a wide range of social media sites. The data is then presented in an easy to digest form showing how many people had positive and negative experience with Property Matrix. With that information at hand you should be equipped to make an informed buying decision that you won’t regret.

Video

Technical details

Devices Supported

  • Windows
  • Android
  • iPhone/iPad
  • Mac
  • Web-based

Deployment

  • Cloud Hosted

Language Support

  • English

Pricing Model

  • Monthly payment
  • Quote-based

Customer Types

  • Small Business
  • Large Enterprises
  • Medium Business

What Support Does This Vendor Offer?

  • email
  • phone
  • live support
  • training
  • tickets

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Property Matrix Comparisons

Property Matrix user reviews

Perfectly caters to all our business needs

Read full review >
Hugh
4/5

Overall impression

3/5

Customer Support

3/5

Value for Money

4/5

Ease of Use

Published on: 27.05.2020 Company Size: More than 100 Employees Industry: Real Estate

One of the best property management software

Read full review >
Albina
4/5

Overall impression

3/5

Customer Support

4/5

Value for Money

3/5

Ease of Use

Published on: 27.04.2020 Company Size: More than 100 Employees Industry: Computer Software

Awesome accounting features

Read full review >
Kaleb
4/5

Overall impression

3/5

Customer Support

4/5

Value for Money

3/5

Ease of Use

Published on: 20.03.2020 Company Size: Industry: Real Estate

What are Property Matrix pricing details?

Property Matrix Pricing Plans:

Free Trial

Standard

$239/mo.

Ultimate

$289/mo.

Enterprise

Contact vendor

Property Matrix offers three SMB and enterprise pricing plans for all users to choose from. Most of the plans can be availed through a monthly subscription and the pricing of the plans varies depending on the features you wish to include. Give the details look, and select the best plan for your company:

Standard

  • $239/mo. – Billed Monthly
  • 225 Units Included – $1 For Each Additional Unit
  • Set Up Fee of 1 Month
  • Enterprise Accounting, Maintenance, Marketing, Portals, Custom Reports, and Unlimited Phone Support
  • Standard Features:
    • Custom Reports
    • Automatic Actions
    • Custom Labels
    • Users with Roles and Permissions
    • Properties Page
    • Multi-Theme Support
    • Independent Set of Books
    • Sub Accounts
    • Transaction History
    • Owner Statements

Ultimate

  • $289/mo. – Billed Monthly
  • 225 Units Included – $1 For Each Additional Unit
  • Set Up Fee of 1 Month
  • All Standard Features Plus: ACH, Credit Card, Check Scanning, e-Signatures, Mobile App
  • Ultimate Features:
    • ACH
    • Credit Card
    • Check Scanning
    • e-Signatures
    • Mobile App

Enterprise

  • Volume Discounts Are Available For 1000+ Units
  • Volume Based Pricing
  • Set Up Fee of 1 Month
  • All Standard And Ultimate Features
  • Enterprise Features:
    • ACH
    • Credit Card
    • Check Scanning
    • e-Signatures
    • Mobile App
    • Custom Fields
    • Custom Reports
    • Automatic Actions
    • Custom Labels
    • Users with Roles and Permissions
    • Properties Page
    • Multi-Theme Support
    • Independent Set of Books
    • Sub Accounts
    • Transaction History
    • Owner Statements

For more information about Property Matrix’s enterprise pricing plan, please contact the vendor and ask for a personalized quote.

What integrations are available for Property Matrix?

Property Matrix integrates with TransUnion, ACH, VISA, and Master Card. In addition, it supports integration with check scanners.

Property Matrix average rating:

Average score
3.8/5 (3 user reviews)
4/5

Overall impression

5/5

Customer Support

3/5

Value for Money

3/5

Ease of Use

Write your own review of this product

ADD A REVIEW

The most favorable review

Kaleb

PROS: This software enables community members to submit maintenance requests online. It also provides us with the accounting tools that we need.

CONS: I am extremely satisfied with and had no problem with using this software so far.

Reviewed 4 months ago

Read full review >

The least favorable review

Kaleb

PROS: This software enables community members to submit maintenance requests online. It also provides us with the accounting tools that we need.

CONS: I am extremely satisfied with and had no problem with using this software so far.

Reviewed 4 months ago

Read full review >

More reviews from 3 actual users:

Sort by:

Latest
  • Latest
  • Most useful
  • Most positive
  • Most negative

Perfectly caters to all our business needs

Read full review >
Hugh
4/5

Overall impression

3/5

Customer Support

3/5

Value for Money

4/5

Ease of Use

Published on: 27.05.2020 Company Size: More than 100 Employees Industry: Real Estate

PROS: Property Matrix helps us manage all aspects of our real estate business. It has great reporting features that allow us to manage and attend to the individual requests of our tenants. It also has features that allow our tenants to pay their dues and reach us for their concerns online. Their ticketing feature makes it extremely easy for our maintenance team to keep track of our tenants’ requests. This software also has marketing tools that conveniently connects us to several ad websites, making it faster and easier for us to post properties for rent online. Its accounting tools also work very well for us.

CONS: I would like this software better if their support team would be more responsive. We want to use their customization features and we would appreciate their help in that endeavor.

What do you think about this review? Great Poor

One of the best property management software

Read full review >
Albina
4/5

Overall impression

3/5

Customer Support

4/5

Value for Money

3/5

Ease of Use

Published on: 27.04.2020 Company Size: More than 100 Employees Industry: Computer Software

PROS: I would highly recommend Property Matrix. It is user-friendly and it comes with a competent support team. It integrates well with several other software for property management. Overall, I can say that this is one of the best software available on the market.

CONS: I would like this software better if its invoice feature would have a manual registration capability.

What do you think about this review? Great Poor

Awesome accounting features

Read full review >
Kaleb
4/5

Overall impression

3/5

Customer Support

4/5

Value for Money

3/5

Ease of Use

Published on: 20.03.2020 Company Size: Industry: Real Estate

PROS: This software enables community members to submit maintenance requests online. It also provides us with the accounting tools that we need.

CONS: I am extremely satisfied with and had no problem with using this software so far.

What do you think about this review? Great Poor
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Reviewed By Nestor Gilbert
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