MRI Software Reviews & Pricing

by MRI Software Company | Founded 1971, Solon, OH

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Overview Pricing Benefits Reviews Features

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What is MRI Software?

Industry Specialties: Real estate

MRI is a real estate management suite consisting of four offerings: Platform X, Application Gateway, Analytix, and Secure Sign. Platform X helps integrate with third-party applications, create a centralized management environment and access information online. Application Gateway provides a single point of entry for Platform X, data integrations, cross-functional workflows and access to the MyMRI support portal.

Analytix includes reporting, data visualization, portfolio analysis, ad hoc querying and interactive dashboards. Secure Sign securely manages e-signatures, sets workflows for document management and streamlines transaction and contracts processes.

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User Sentiment

Based on 79 reviews:

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Product Screenshots and Videos

MRI Software Pricing

Based on our most recent analysis, MRI Software pricing starts at $55 (Monthly).

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Starting From: $55
Pricing Model: Monthly
Free Trial: Yes, Request for Free

Training Resources

MRI Software is supported with the following types of training:

Documentation
In Person
Live Online
Videos
Webinars

Support

The following support services are available for MRI Software:

Email
Phone
Chat
FAQ
Forum
Help Desk
Knowledge Base
Tickets
Training
24/7 Live Support

MRI Software Benefits and Insights

Why use MRI Software?

Key differentiators & advantages of MRI Software

Reduce TCO: Save time and resources spent on software maintenance and IT infrastructure by hosting the platform on the vendor’s server. Ensure fast performance with tier 1 ISP and use Gartner Magic Quadrant for data center networking.
Ensure Accuracy: Eliminate manual error by automating administrative tasks, ensuring accurate data entry across all fronts, including leasing, accounting, work order, invoicing and more.
Streamline Accounting: Mitigate risks and capitalize on opportunities using the accounting module that supports AP automation, vendor invoicing, property and tenant-specific ledgers, budgeting, forecasting, and more.
Custom Integrations: Connect with over 150 partnered third-party software to add unique functionalities like rent analysis, ILS channels, marketing suite, payment processors and more.
Centralize Management: Avoid working on disparate platforms and use unified software to manage marketing, maintenance and accounting of the entire portfolio.

Industry Expertise

Serves property managers and real-estate investors handling residential, commercial and HOA housing.

MRI Software Reviews

Average customer reviews & user sentiment summary for MRI Software:

79 reviews

87%

of users would recommend this product

Synopsis of User Ratings and Reviews

Based on an aggregate of MRI Software reviews taken from the sources above, the following pros & cons have been curated by a SelectHub Market Analyst.

Pros

Streamlined Accounting: MRI's capabilities simplify complex accounting tasks, such as managing multiple bank accounts and generating financial reports. The software also offers features like automated invoicing and online payment processing, which can save property managers time and effort.
Comprehensive Tenant Management: MRI provides tools for managing tenant information, including lease agreements, maintenance requests, and communication history. This can help property managers stay organized and efficient, and it can also improve communication and relationships with tenants.
Efficient Maintenance Management: MRI offers features for tracking maintenance requests, scheduling repairs, and managing vendor relationships. This can help property managers ensure that maintenance issues are addressed promptly and efficiently, which can improve tenant satisfaction and protect the value of the property.
Improved Reporting and Analytics: MRI provides a variety of reporting and analytics tools that can help property managers track key performance indicators, identify trends, and make data-driven decisions. This information can be used to improve operations, reduce costs, and increase profitability.

Cons

Steep Learning Curve: Users report that MRI is not intuitive and requires extensive training to use effectively. The interface can be overwhelming for new users, and the software's complexity can lead to frustration and inefficiency.
Customization Challenges: While MRI offers customization options, users find the process to be cumbersome and time-consuming. Implementing custom features often requires assistance from MRI's support team or third-party consultants, which can be costly and inconvenient.
Reporting Limitations: Generating reports in MRI can be challenging due to the software's complex data structure and limited reporting capabilities. Users often need to export data to external tools for further analysis, which adds complexity to the reporting process.
Integration Issues: Integrating MRI with other software systems can be difficult due to compatibility issues and data mapping challenges. This can hinder data flow and create inefficiencies in workflows that involve multiple systems.

Researcher's Summary:

MRI Software has established itself as a leading contender in the property management software arena, boasting a comprehensive suite of features that cater to diverse needs within the real estate sector. Users frequently highlight its adaptability and scalability, enabling it to seamlessly accommodate the complexities of managing various property types, from residential complexes to commercial properties. The software's capacity to streamline essential tasks, such as lease administration, rent collection, and maintenance management, has garnered significant praise for its ability to enhance operational efficiency and optimize workflows.

However, some users have noted that MRI Software's extensive functionality can lead to a steeper learning curve, particularly for those transitioning from simpler platforms. Additionally, while the software offers integration capabilities, some users have expressed a desire for more seamless connectivity with third-party applications to further enhance data synchronization and process automation. Despite these considerations, MRI Software's robust feature set, coupled with its adaptability and scalability, positions it as an ideal solution for property management companies, real estate investors, and businesses seeking a comprehensive platform to effectively manage their property portfolios.

Key Features

Property Management: Manage residential and commercial properties under a comprehensive system and control the entire business lifecycle. Scale and adapt to strategic shifts with a customizable open API solution.
Property Accounting: Centralize data, streamline accounting, comply with new lease regulations and automate payables from a unified dashboard. Additional capabilities can be added through integration with Partner Connect, giving access to third-party tools for accounts receivable automation, electronic payments, debt collection and more.
Risk Management: Choose suitable residents, eliminate rental fraud and protect the community with the following tools:
- Identity Verification: Mitigate risks and prevent fraudulent parties from entering the property by verifying IDs before tours or showings. Leasing agents can perform unlimited scans to verify passports, driving licenses and more, and receive instant results.
- Resident Screening: Maximize financial performance and reduce delinquencies with a customizable screening process using a proprietary AccuScore analytical model. Tailor the process for all housing types, including conventional, affordable, public, military, student and senior housing.
- Multifamily Insurance: Include resident insurance as part of a lease to reduce liability. Protect properties, residents and owners in case of disasters and easily manage active policies and claims.
Asset Management: Analyze investment opportunities, identify risks and manage assets at both the investment and property levels with the following:
- Investment Central: Monitor data from a central repository to manage investments and drill down on opportunities with a better-informed portfolio view and strategies.
- Asset Modeling: Monitor, analyze and forecast the current and future state of portfolio assets. Leverage sensitivity scenarios to anticipate market and tendency changes, and reduce risk exposure.
- Analytix Portal: Gain actionable insights and clean data with the flexible BI module. Visualize data, maximize performance, optimize profitability, analyze geospatial data and more.
Debt Modeling: Model multiple contract debt scenarios for optimal deal structure and improve decision making with centralized storage of all data, an arrears calculation engine and comprehensive forecasting and reporting.
Lease Abstraction: Save time and error by extracting data from leases using AI. Review leases with a proprietary Optical Character Recognition (OCR) engine, converting them into machine-readable text. Each extracted data point is linked with the source material to maintain a complete audit trail.
Lease Management: Access a single source for all data points for managing lease contracts, including start and end dates, security deposits, personalized clauses, lease terms, documentation and more.
Lease Accounting: Maintain compliance with core accounting regulations, including ASC 840 and the new FASB ASC 842, IASB IFRS 16 and GASB 87 standards. Automate calculations, save time, reduce errors and maintain an accurate audit trail by capturing data at the source, eliminating multiple entries.
Facility Management: Ensure on-time maintenance and provide improved services to tenants while decreasing costs and overheads with the following modules:
- Workspeed: Manage, view and create work orders and maintain accurate records. Leverage the industry’s best practices and standards to perform preventive maintenance and extend assets’ life spans. Provide managers, owners, tenants and vendors with a common messaging platform via the web-based mobile communication hub.
- Visitor Management: Provide building security personnel with an intuitive interface to register and check-in visitors and verify identification. Managers can access accurate, real-time lobby data, and residents can electronically pre-register guests.
Space Management: Increase efficiency and reduce costs with better utilization of real estate space. Plan department allocation, CAD floor layouts, seating charts, personnel moves, space chargebacks and more. Streamline HR, IT and security team processes on a centralized platform.

Limitations

At the time of this review, these are the limitations according to user feedback:

Outdated interface with a steep learning curve.
Doesn’t offer in-depth report customization.

Suite Support

The vendor website offers blogs, news articles, eBooks and brochures on fair practices and upcoming trends. Read case studies and attend virtual events to learn about optimal usage of the software.

Email: Not listed.

Phone: Available upon subscription.

Training: Offers training on onboarding, recovery formula building and solution fundamentals. Choose from self-paced online courses, video tutorials and live classes, or customize a training module for coaching the entire team.

Tickets: Not listed.