MRI Residential Review - why 4.1 stars?

Shlomi Lavi / updated: Oct 03, 2022

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What is MRI Residential?

MRI Residential Management is a cloud-based real estate property management solution designed for service managers, owners, leasing agents and property managers in commercial and residential properties. The core solutions include facilities management, accounting and budgeting and more.

The product is suitable for multi-family managers that are looking to cut costs while also boosting the property occupancy. The solution provides end-to-end functionality and manages everything including scheduling, leasing and renewals and more. It also offers role-based dashboards which helps the users visibility into the facets of the property.

The online leasing module allows the prospects to view all the units and amenities available. They can also fill an application, scan through the preliminary screening process as well as make the initial deposit. The residents can also make payments online through the portal which helps automate renewals and enables the companies to retain the existing tenants.

Who is it best for?

MRI Residential Management is perfect for residential or multifamily properties with over 500 units. Multifamily properties looking for a fully integrated management solution can use this software. Davis Management Associates and MTH Management are some of the clients of MRI Residential Management.

Main features and functionalities

MRI Residential Management comes with prospect management, resident management, operational management and performance management features. The prospect management part can help users to get complete control over their apartments and when, how and where they are marketed online. Users can control the leasing process as they want. The resident management part provides a resident portal where residents can view statements, account balance, pay rent and deliver lease renewals electronically.

The operational management part can help users to handle all the real estate management functions like accounting, residential lease processing, billing, reporting, project management and facility management. The system is highly scalable and can grow as your business grows. It can also automate most of the processes and offer efficient workflows. Other notable features are: measuring performance against projections and waterfall engine for calculating waterfall returns.

What is the actual cost?

The cost of license starts at $1.75 per property/month. ITQlick pricing score is 8.6 out of 10 (10 is most expensive). Access ITQlick pricing guide for MRI Residential. You can also find here pricing information from MRI Residential's website.

Pros

• MRI Residential Management’s property management solution is specifically designed for multifamily and residential properties
• MRI Residential Management offers both Software as a Service and on-premise deployment options for users
• The customer support of MRI Residential Management offers concierge support packages for users
• The property management solution offers accounting and billing features unlike other similar tools
• The property management software supports delivering lease renewals and paying rents electronically

Cons

• MRI Residential Management doesn’t offer mobile dedicated app for iOS and Android users
• MRI Residential Managementdoesn’t offer much vacancy ad posting features like other similar tools
• The customer support of MRI Residential Management doesn’t offer any 24/7 live phone support
• The property management software is not suitable for users with small residential properties
• The property management solution is only available in English as of this time

How it stacks up?

Access a head to head analysis of MRI Residential vs alternative software solutions.

Frequently Asked Questions (FAQs)

Is MRI Residential right for you or your business?

MRI Residential Management is ideal for service managers, owners, leasing agents and property managers in commercial and residential properties. It caters to the midsize and large businesses in the real-estate industry. It serves the Middle-East, Africa, Canada, Latin America, Asia, Australia, Mexico, the United Kingdom, and the United States.