10 Best Landlord Accounting Software Tools 2025 Reviews Free & Paid Landlord Bookkeeping Software
The first and often most important aspect of choosing rental accounting software is the price tag. It’s important to compare the prices of various software options to find a solution that fits your budget and your business. Some software has more features to offer but comes with a higher monthly or yearly premium as a result. Other software is more affordable but does less of the heavy lifting of managing your finances.Both options have their benefits—the “better” option depends on your needs.
Automated Invoicing and Expense Management
It works like a freemium model where you can try out their basic features for free before upgrading to the full version. This might be a good option to use in conjunction with a different accounting app since YNAB is solely focused on budgeting. You’ll have to integrate with REI Hub to get automated transaction syncing and expense tracking.
- Annual Percentage Yield (APY) of 2.31% on deposit accounts for new Essentials and Manage users signing up, accurate as of January 2025; and 3.98% APY for Pro users is accurate as of January 2025.
- Having the best accounting software is the first step toward leaving spreadsheets behind and adopting an organized approach to your rental business.
- Re-Leased reconciles your bank transactions and book entries with just one click.
- The Best Software for Rental Property Accounting Rental property accounting software is a specialized category of financial management tools designed…
Other unlimited features in even its starter plan include unlimited estimates, 1099 contractors, receipt capture and bill pay. Though it limits users to one in its first-tier plan, solo real estate professionals can use the software long-term, knowing their basic needs are met as they grow their clientele. The capacity to measure profit and loss by the property is the most essential real estate attribute assessed. The ability to monitor automotive mileage, automated monthly e-payments, tenant portals, and maintenance management are among the other advantages. Overall, Baselane is ideal for streamlining bookkeeping, analytics, reporting, and taxes in a single place.
Stessa is your go-to tool for streamlining the management of your rental properties. Rated the #1 app for landlords (based on App Store ratings and the total number of reviews as of February 2025), Stessa offers automated accounting tools that help make financial tracking hassle-free. While QuickBooks is an excellent general accounting program, it’s not an ideal rental property accounting software solution because it’s not tailored to real estate investors and their needs.
What to look for in a good rental property accounting tool
Re-Leased takes the headache out of client accounting for property management firms. It comes packed with powerful accounting features for handling daily property finances and managing corporate budgets and expenditures. It allows you to send and receive payments effortlessly across your network, from property owners to residents. AppFolio is also a comprehensive property manager tool that combines everything from marketing your property to handling maintenance requests on one simple platform.
Baselane (Best Real Estate Investor Banking Solution)
Xero enables landlords to easily track revenue and costs for each rental property. Designed for small businesses and accountants, the software allows landlords to collect rent, record maintenance costs, pay bills, manage vendor payments, and perform bank reconciliations. Landlord Studio is a rental management software designed to streamline property management tasks. It’s best for comprehensive rental management because of its all-in-one platform, which covers everything from tenant screening to tax reporting. FreshBooks is a popular accounting software for small businesses, freelancers, and businesses with employees or contractors.
Best for Residential Property Management: TenantCloud
At a glance, you can see how your investments are doing, track key metrics, and make informed decisions to optimize your returns. Stessa’s owner dashboards are easy to use, giving you the insights needed to make smarter decisions in less time. The intuitive interface and award-winning customer support make onboarding a breeze. This level of accessibility is especially valuable for landlords managing multiple properties in different locations. Whether you’re managing a single property or a large portfolio, scalability is a must.
You can track each property’s income, expenses, and tenant details separately. This feature helps you monitor financials for different properties and best accounting software for rental properties of 2021 generate consolidated reports, making it easier to oversee your entire portfolio. Rentec Direct is a property management software platform that offers tools for landlords and property managers to manage their rental properties effectively. SimplifyEm offers a suite of tools that include online leasing, rent collection, lease management, resident portals, and financial reporting. The platform is engineered to support various property types including residential homes, multi-family rentals, commercial properties, and community associations.
- For more experienced accountants, there is also a capability to record general diary entries.
- AppFolio lets you easily track, bill, and balance CAM fees without breaking a sweat or your schedule.
- Using two or more different systems increases administrative overhead, risks data duplication, and complicates workflows.
- It’s not always clear how or if a certain management software input impacts your financial accounts.
The company offers assistance with quarterly tax preparation and filings, applying for loans, bookkeeping and even bookkeeping catch-up services. This app is a great option for budgeting and financially tracking your business. Sometimes landlords need to track income, expense, cash flow or other data – and this is an easy solution.
Why is Property Management Accounting Software important for property managers?
Additionally, the ability to integrate with other property management tools, such as maintenance request systems and tenant screening services, has become a key selling point for many software providers. As a rental property owner, you’re no stranger to the challenges of managing finances. From tracking income and expenses to preparing tax returns, the accounting aspect of real estate investing can be daunting. But what if we told you that the right accounting software could not only simplify these tasks but also provide valuable insights to help you make data-driven decisions?
The best tools integrate seamlessly with other applications, such as tax software, payment systems and property management platforms, ensuring smooth operations as your business expands. The software should cover your needs as a rental property owner, from basic accounting features to tracking property performance and generating financial reports. Key functions of any accounting software include income and expense tracking, and you should be able to oversee online rent payments (or short-term stay payments), and maintenance costs. This type of software typically includes features for tracking rent payments, managing expenses, generating invoices, and producing financial statements.
