Independent property owners should find this accessible regardless of their experience. Founded in 2006, AppFolio has over a decade of experience providing clients with property management services. Their property management software was the first product they developed, so it’s what they take the most pride in and continuously develop.
- Founded in 2006, AppFolio has over a decade of experience providing clients with property management services.
- REI Hub is a fully-featured accounting software designed to make you more efficient.
- If your accounting situation is more complex, those same features might be vital time savers.
- Starting with our state-specific templates, draft a custom lease by adding or editing your clauses, rules, and attachments.
- Propertyware also has a one-time onboarding fee, equal to x2 your monthly price.
AppFolio Property Manager offers multiple tools and features to streamline different aspects of property management. It helps property managers and landlords in managing tasks like accounting, property leasing, property marketing, and maintenance. This rental booking software can also help you with online rent payments, tenant screening, financial reporting, etc. Most software allows property owners to execute daily responsibilities such as managing tenant information, accounting, maintenance and billing. Moreover, it generates reports on monthly rent payments, expenses and income.
Good For Large Portfolios (100+ Units)
A strong overall option, Property Matrix is a fully customizable solution that boasts particularly robust real estate features and an intuitive interface. TenantCloud offers fewer and less robust features than most dedicated tools on this list. It’s not as affordable as other options unless you have what condition makes the value of irr greater than 100% at least 50 units. Other than that, however, it delivers on ease of use and the number of features. Right now, DoorLoop starts as low as $49 per month for your first 20 units with the Standard plan. It’s also on the pricey side, with the most basic plan being $1 per unit with a $250 minimum.
Integrations for efficiency include DocuSign, but Propertyware has chosen a primarily in-house approach for marketing, lead generation, and tenant screening rather than integrating with third-party software. Considering there are over 400,000 landlords using this free, cloud-based software, the reliability and support provided by TurboTenant’s online tools have been proven and endorsed since their founding in 2015. The company’s strong reputation has earned it three rounds of venture capital investment from three lead investors, totaling over $10 million.
Landlord Studio
Rental property accounting software simplifies your life as a real estate investor. In contrast to most accounting software, Xero includes unlimited users at no additional cost. You can generate interactive financial reports any time and send them to your key financial collaborators, including business partners or tax advisors. Track your rental property income and expenses to streamline the accounting process. Rent payments and maintenance costs are automatically uploaded to your accounting dashboard to make it easier to see how much money is coming in and out.
The top 16 rental property accounting software of 2022
You might notice that we don’t include QuickBooks or any other dedicated accounting software on this list. Try the free Essentials plan today, and experience how Stessa can help you run your rental property like the successful business you deserve to own. Whether you’re a new investor with one rental unit or a seasoned professional managing a multi-family portfolio, Stessa offers an array of tools to streamline your operations and maximize your investment returns. Most bookkeepers and accountants use the same popular software small-business owners do, especially QuickBooks Online, Xero, and Sage. Oracle NetSuite and FreshBooks are two other popular bookkeeper software options.
Bookkeeping vs. accounting
Learn how to overcome common real estate tax challenges, strategies for maximizing your end of year tax deductions, and how to leverage software for a more profitable portfolio. This software is less intuitive to use than others on this list and may be more suitable for users with more complex requirements and bigger portfolios. They also offer a more full-service property maintenance coordination for those landlords looking for a more hands-off experience. If access is important to you, and you find yourself using your smartphone for your business accounting, then Landlord Studio is definitely an option to consider. As it streamlines the whole process, Buildium is fairly simple to use, although basic users may not be able to maximize all of its features.
Landlord Studio’s capabilities are more focused on day-to-day bookkeeping. While its basic features can be beneficial, it may be of less value to landlords or investors who want broader asset management and portfolio optimization. Rent Manager also has additional customizable features for each user, including online payment portals, marketing and leasing, operations, maintenance, and advanced reporting. It integrates with close to 100 other programs like Avidxchange, Beanworks, Safeguard, and ZeGo by PayLease.
When you brag to your next-door neighbor about how well your rental property is doing, the odds are you’re not talking about your accounting software. From automatic income and expense tracking to comprehensive performance metrics, Stessa works to give you the necessary tools to manage your properties efficiently. Plus, its state-of-the-art security measures help ensure your data is protected, so you have peace of mind. However, Stessa’s unique features and user-friendly design, tailored to individual landlords and real estate investors regardless of portfolio size, helps it stand out from the rest. We found AppFolio to be the overall best because it blended moderate pricing tiers with plentiful functions to appeal to simple and complex portfolio owners alike. Furthermore, it integrates with other common programs and can be learned by landlords with little accounting experience while still meeting the needs of more advanced users.
You receive customizable reports, online payments, marketing tools and lease management. Additionally, you can get a variety of strategic insights to improve your portfolio. Furthermore, you will gain services such as website creation, tenant screening, real estate insurance features and automated accounts payable. This software is popular as you only pay for the features you use and it can be accessed on your mobile device. There is an onboarding fee that costs at least $400 and monthly fees that can cost up to $1,500.
Finally, the apps are hard to use making this primarily a desktop software. Additionally, while they have a free tier, it is quite limited with key features like rent collection costing a premium. This means that for users with more units and more complex requirements it can quickly become unaffordable. In this article, we take a look at 9 property accounting and management software and how they can help you streamline workflows and stay on top of your finances for tax time. The Plus plan adds conveniences like two-way text messaging, eSignatures, and inspections. At the Premium level, you can manage your maintenance projects and add portals for your vendors.
ATM transactions, the purchase of money orders or cash equivalents, loan payments and account funding made with your debit card are not eligible for cash back rewards. Also, while the software has an extensive suite of tools, its broad focus means it may have features that aren’t as relevant for landlords and may lack some functionality that landlords need. Most of these top software picks have the essential features outlined above but differ in pricing. The one you choose depends on your needs as a landlord and the size and type of assets in your portfolio.
We know you rely on a simple, effective payment system to collect rent. Invoicing probably isn’t your favorite part of the job, but you can spend a lot less time creating and sending invoices with FreshBooks online accounting software. You can create a recurring profile in minutes and FreshBooks will automatically send the invoices for you, freeing up your time for more interesting work.