Real estate accounting comes with unique financial challenges, such as managing multiple properties, tracking rental income, and handling complex expense categories like maintenance and property taxes. 

This is where real estate accounting software helps by streamlining financial processes, saving time, and improving accuracy. These platforms also provide valuable insights, helping property managers make informed decisions.

With AI integration, real estate accounting software is evolving to offer predictive analytics, automated property management, personalized customer experiences, and the ability to extract actionable insights from vast datasets — all shaping the future of real estate financial management. 

After analyzing 19 options, I’ve shorted the following top 13 real estate accounting software considering the key features, integrations, and pricing.

Real Estate Accounting Software Review Methodology

At Geekflare, we are committed to providing thorough and unbiased reviews. For our evaluation of the best real estate accounting software, we assessed core features like income and expense tracking, property management, ease of use, and AI integration. Additionally, we analyzed pricing, customer feedback, and official documentation to ensure our recommendations are practical and suited to businesses of all sizes, helping you choose the best software for your real estate accounting needs.

Real Estate Accounting Software Comparison

Here’s a quick table comparing top real estate accounting software based on key features like customer reports, property management, and income & expense tracking, along with starting pricing to help you find the right solution for you.

ProductCustomer ReportsProperty ManagementIncome & Expense TrackingStarting Price (monthly)
Buildium$58
REI Hub$15
BaselaneFree
AppFolioCustom Pricing
XeroX$15
FreshBooksX$5.70
Sage 300Custom Pricing
DoorLoop$59
TenantCloud$15.60
StessaFree
LandlordStudioFree
Propertyware$250 
QuickBooksX$49.50

Real Estate Accounting Software Reviews

Below, I’ve reviewed each option in detail, focusing on key features, what problem it solves, strengths, weakness, pricing and given an overall rating.

1. Buildium

All-in-one Property Management Software

Geekflare rating score 4.5 out of 5
4.5
|

Buildium is a purpose-built property management software designed to simplify accounting and operations for property managers. It offers a full suite of features tailored specifically to property management, helping users streamline daily tasks and maintain complete financial accuracy. Buildium’s accounting tools allow users to easily track payments, reconcile accounts automatically, and manage accounts payable with a clear financial view of their properties at all times.

Buildium

Buildium is great at automating bookkeeping tasks such as managing rent collection and payments. Property managers can follow every transaction, from payments made by residents to refunds, ensuring no details are missed. The system also supports automatic reconciliation of bank accounts, which helps save time by matching statements to transactions without manual input. For those managing multiple properties, Buildium offers comprehensive financial reporting. This feature helps managers stay compliant with trust accounting rules and keep track of their finances.

Buildium supports various property types, including single-family, multi-family, and commercial properties. Its flexibility extends to pricing, as there is no minimum unit count, meaning users only pay for what they need. The software also offers built-in tools for leasing, such as online rental applications and tenant screening, to help streamline the entire rental process. It allows property managers to customize lease templates and collect signatures digitally, making the workflow seamless and paperless.

With its well-thought-out features for business performance, Buildium provides managers with tools to monitor portfolio performance, track analytics, and integrate data with other business applications using its Open API. From tracking maintenance requests to managing property inspections, Buildium ensures that property managers have the tools they need to grow their businesses while efficiently handling day-to-day tasks.

Buildium Pros

  • Advantage

    Offers automatic bank reconciliation, saving time and reducing manual errors, with detailed reporting to maintain compliance with trust accounting rules.

  • Advantage

    Manages accounts payable efficiently, allowing users to turn work orders into bills and set up automatic payments for recurring expenses.

  • Advantage

    Offers extensive features; online payments work flawlessly, and the pricing page is detailed and easy to compare.

  • Advantage

    Offers a 14-day free trial.

Buildium Cons

  • Advantage

    Open API is only available in the most expensive plan.

  • Advantage

    eSignature will incur an extra $5 every time in the essential plan.

  • Advantage

    Incoming EFT transactions cost more in the lower-tier plans ($1.25 per transaction in the Essential plan compared to waived fees in the Premium plan).

  • Advantage

    Bank account setup fees apply for all plans, with only a limited number of free bank accounts included in the Growth and Premium plans (5 and 15, respectively).

Buildium Pricing

PlanPricing (monthly)Offerings
Essential$58Accounting, Maintenance, Tasks, Violations, Resident & Board Member Communications, Online Portals, Property Inspections, Tenant Screening, eSignatures ($5 each), Online Payments (EFT/Credit Card fees)
Growth$183All Essential features, Additional features and support, Property Inspections, Enhanced Tenant Screening, Unlimited eSignatures, Online Payments (Lower EFT fees), 5 free bank accounts
Premium$375All Growth features, Open API, Business Analytics and Insights, Performance Analytics, 15 free bank accounts, Unlimited eSignatures, Waived EFT fees, Priority Support
Try Buildium

2. REI Hub

Best for Rental Owners to Manage Accounting and Reporting

Geekflare rating score 4.3 out of 5
4.3
|

REI Hub is professional accounting software built for rental property owners to streamline rental bookkeeping and financial reporting. From property and unit-specific level reporting to automated transaction feeds, REI Hub is the best comprehensive solution for real estate investors – no matter if you specialize in short-term rentals, long-term rentals, residential, commercial, or somewhere in between.

Tax season can be complicated. That’s why real estate investors need a solution tailored to their business. REI Hub automatically tracks your finances on a property-by-property (or unit) basis, configures your accounting for easy IRS Schedule E reporting, includes preset rental transaction templates, and helps you maximize your tax deductions based on real estate-specific tax benefits.

For savvy investors looking to know the score, REI Hub’s dashboards and reports display key metrics like cash flow, equity, debt, and property-specific profitability. As a passive (or full-time) investor, you shouldn’t have to worry about DIY-ing your financial reports.

All REI Hub landlords have access to an in-house Virginia-based customer support team. No more waiting on hold for hours or talking to a computer – REI Hub hires real humans available to you when you need them the most. If you’re stressed about moving over to an upgraded accounting system, REI Hub’s support team offers onboarding support to make this transition as smooth as possible.

While REI Hub specializes in accounting, REI Hub also has integrations with popular all-in-one rental management platforms so you can find and manage tenants while taking advantage of advanced accounting solutions.

REI Hub Pros

  • Advantage

    Offers a 14-day free trial

  • Advantage

    Virginia-based support team and personalized onboarding support

  • Advantage

    Property, unit, and portfolio-level reporting

REI Hub Cons

  • Advantage

    Tiered pricing based on unit count

  • Advantage

    No features to send out payments or invoices

  • Advantage

    Specializes in accounting software and does not provide full rental management solutions

  • Advantage

REI Hub Pricing

Unit CountPricing
Up to 3$15/month
Up to 10$25/month
Up to 20$45/month
Unlimited units$80/month

*Annual discounts available.

Explore REI Hub

3. Baselane

Best for Landlords to Manage Rental Businesses

Geekflare rating score 4.5 out of 5
4.5
|

Baselane is a modern financial platform for real estate investors and landlords. It offers an all-in-one solution for managing rental properties, streamlining finances, and enhancing rent collection processes. Baselane Banking provides a user-friendly experience, making it easy to open multiple accounts for each property, manage security deposits, and earn competitive interest rates on savings.

Baselane

One of Baselane’s standout features is its seamless rent collection system, which allows landlords to collect payments through ACH or card and get paid within 2-5 days. The system also includes automated invoicing, reminders, and late fee settings, ensuring a smooth process for landlords and tenants. Tenants benefit from a dedicated portal where they can make payments from any device, set up auto-pay, and track their rent history.

Baselane also provides powerful bookkeeping and accounting tools integrated directly with its banking platform or external accounts. These tools allow landlords to tag transactions by property, generate real-time financial reports, and track income and expenses for accurate tax filing. With real-time cash flow insights, Baselane helps landlords stay on top of their financial performance and streamline the often tedious task of property management accounting.

The platform’s security features are worth mentioning — offering Visa Zero Liability Protection, FDIC insurance of up to $3 million through Thread Bank, and two-factor authentication (2FA) with end-to-end encryption. This ensures that funds are safeguarded, giving users peace of mind while managing their properties.

Update: Baselane now offers tenant screening which includes income verification, eviction history checks, ID verification, criminal report checks and Equifax credit report. This is great to avoid fraud tenants.

Baselane Pros

  • Advantage

    Offers a free platform for landlords, which is rare in property management accounting software.

  • Advantage

    Landlords can set up automatic rent collection and receive rent payments directly into Baselane accounts.

  • Advantage

    Provides detailed financial insights and analytics, helping landlords make informed decisions.

  • Advantage

    Doesn’t charge fees for account opening, monthly account fees, minimum balance fees, ACH transfer and return payment, or overdraft fees.

  • Advantage

    Integrated tenant screening for detailed verification and reporting.

Baselane Cons

  • Advantage

    While great for smaller landlords, it lacks some of the more advanced features of larger property management systems.

  • Advantage

    Does not provide integrated native tenant communication tools for interacting with tenants.

  • Advantage

    Better suited for small to medium-sized property owners, which may not scale as effectively for large portfolios.

  • Advantage

    While it offers financial insights, report customization options are limited compared to other platforms.

Baselane Pricing

PlanPricing (monthly)Offerings
BankingFreeUnlimited banking accounts, FDIC insured up to $3M, Earn up to 3.77% APY, Physical & virtual debit cards, No account fees. The only fees charged: $2 per mailed check, $15 per checkbook.
Rent CollectionFreeAutomated invoices, tenant portal, ACH & card payments, automated late fees, Fast payments in 2-5 days. The only fees charged are $2 via ACH if deposited into an external bank, 3.49% via card.
Bookkeeping & AccountingFreeSync transactions, single-entry books, cash flow insights, and Schedule E-reporting are free with no additional fees.
Try Baselane

4. AppFolio

Best for Advanced Accounting and Reporting

Geekflare rating score 4.5 out of 5
4.5
|

AppFolio Property Manager is designed to simplify property management for businesses of all sizes. It offers real-time data insights and powerful automation tools that streamline day-to-day accounting, leasing, and operations. AppFolio’s accounting system is built to help property managers make faster, data-driven decisions while minimizing manual errors. With its secure, centralized database, all transactions are captured in one place, offering a single source of truth for your business.

AppFolio

AppFolio has a feature called Smart Bill Entry. This tool uses AI technology to automatically read and input data from PDF invoices, reducing the time spent on manual entry. Users can simply upload, review, and approve bills, allowing them to focus on higher-value tasks. The software also enables flexible reporting, offering customizable reports such as income statements, balance sheets, and cash flow summaries. These reports are tailored to even the most complex portfolios, providing the insights needed to make strategic decisions quickly.

For those who need advanced customization, AppFolio offers a robust Database API. This feature allows businesses to build custom analytics, integrations, and workflows essential for growing their operations. The API includes enterprise-level control and access to the AppFolio database, with thorough documentation and testing environments validated by AppFolio Stack partners. The platform also supports automated late fees, CAM tracking and reconciliation, and bulk tenant charges, all aimed at streamlining property management.

AppFolio also offers seamless online payments and bank reconciliation — making managing cash flow easier and reducing human error. By integrating with Plaid, AppFolio ensures that bank transactions are matched automatically. AppFolio’s flexibility extends to its plans, allowing users to scale and pay only for the features they need, making it a versatile solution for property managers across residential, commercial, and community associations. 

AppFolio Pros

  • Advantage

    AppFolio’s Smart Bill Entry feature uses AI to read and process PDF invoices automatically, significantly reducing time spent on manual data entry.

  • Advantage

    Offers customizable reports with in-depth financial insights, allowing users to drill down into specific data points.

  • Advantage

    Provides extensive API access, enabling businesses to build custom analytics, integrations, and data workflows.

AppFolio Cons

  • Advantage

    For pricing information, the user needs to contact the sales team.

  • Advantage

    Some users may find the software complex to navigate, particularly when utilizing advanced features like the API.

  • Advantage

    Features such as custom fields and database API access are only available in higher-tier plans, limiting flexibility in lower plans.

AppFolio Pricing

For pricing information, contact the sales team.

Try AppFolio

5. Xero

Best for Small Real Estate Businesses

Geekflare rating score 4.5 out of 5
4.5
|

Xero is a cloud-based accounting software designed to meet the diverse needs of small real estate firms. Users can easily manage finances from any location, ensuring that critical accounting tasks are handled efficiently. The platform offers a variety of features tailored to streamline financial management, from invoicing to tracking expenses and reconciling bank accounts.

Xero

Xero comes with a user-friendly dashboard, which provides real-time insights into your business’s financial health. Businesses can monitor cash flow, view outstanding invoices, and track expenses all in one place. The ability to customize the dashboard allows real estate professionals to focus on the metrics that matter most to their operations. Additionally, Xero supports fixed asset management, making it simple to track and manage property assets, including depreciation and disposals.

Xero excels in its invoicing capabilities, allowing users to create and send invoices instantly. This feature is particularly beneficial for real estate businesses that require timely payments. Users can filter invoices by due dates, amounts owed, and overdue statuses, ensuring they stay on top of their receivables. Furthermore, Xero’s mobile app ensures that real estate agents and managers can handle financial tasks on the go, making it easier to manage their accounting processes in real-time.

Security and support are also great. Xero provides an affordable solution for real estate businesses looking to enhance their accounting practices while maintaining the flexibility of cloud-based technology.

For those looking to streamline accounting processes, Xero offers a free 30-day trial, allowing potential users to explore all features before committing to a plan. Whether managing invoices, tracking cash flow, or handling fixed assets, Xero is an invaluable tool for real estate professionals aiming to optimize their financial management.

Xero Pros

  • Advantage

    Xero allows real estate agents to manage bookkeeping and track performance from anywhere using its mobile app.

  • Advantage

    Connects with over 1,000 apps, including property management tools like Rentancy, Re-Lease, and stripe

  • Advantage

    Overall a balanced software with affordable plans, 24/7 online support, easy to use and decent features.

Xero Cons

  • Advantage

    Starter plan allows sending only 20 invoices and entering only 5 bills, which may be restrictive for growing businesses.

  • Advantage

    While Xero has basic payroll features, you will need third-party apps for more advanced payroll management.

  • Advantage

    Features like expense tracking and project management come at an additional monthly cost for all plans.

Xero Pricing

PlanPricing (monthly)Offerings
Early$15Send invoices and quotes (20 invoices limit), Enter 5 bills, Reconcile bank transactions, Short-term cash flow and business snapshot
Growing$42Everything in Early, plus: Bulk reconcile transactions
Established$78Everything in Growing, plus: – Claim expenses, Analytics Plus, Use multiple currencies
Try Xero

6. FreshBooks

Best for Rental Businesses

Geekflare rating score 4.5 out of 5
4.5
|

FreshBooks simplifies financial management, enabling users to focus on what they do best. This platform stands out for its user-friendly interface and powerful features tailored for various industries, including real estate. FreshBooks allows users to streamline their billing processes, track expenses, and manage client communications effortlessly.

FreshBooks

One of FreshBooks’ key features is its invoicing capability. Users can create professional-looking invoices in seconds, ensuring they project a polished image to their clients. The software supports multiple payment options, making it easier for clients to pay on time. FreshBooks even automates late payment reminders so users can stay on top of their receivables without additional effort. This efficiency allows real estate professionals to get paid faster, enhancing their cash flow.

Expense tracking is a vital feature of FreshBooks. The platform enables users to manage their business expenses seamlessly, reducing the hassle of manual entry. FreshBooks also offers a mileage tracking app, helping users monitor travel expenses related to their real estate activities.

Collaboration tools within FreshBooks are designed to improve team efficiency. Users can manage projects and communicate with clients all in one place. This feature mainly benefits real estate teams, allowing them to stay organized and share updates quickly. The software’s time-tracking capabilities ensure users can accurately bill clients for hours worked, reducing the risk of undercharging.

FreshBooks provides various reporting features that help users analyze their financial health. It connects seamlessly with various applications, allowing users to customize their accounting solutions to their specific needs. This flexibility and extensive feature set make FreshBooks an excellent choice for real estate accounting.

FreshBooks Pros

  • Advantage

    Simplifies complex tasks, enabling easy invoicing for tenants and quick estimates for potential buyers.

  • Advantage

    Offers late payment reminders and recurring invoices to streamline financial management.

  • Advantage

    Provides various financial reports, including profit and loss, sales tax summaries, and accounts aging.

FreshBooks Cons

  • Advantage

    While FreshBooks offers competitive pricing, additional features (like team member access and advanced payments) require extra costs in every plan, which can add up quickly for growing businesses.

  • Advantage

    The lite plan caps at 5 clients when sending invoices and offers minimal features.

FreshBooks Pricing

PlanPricing (monthly)Offerings
Lite$5.70 Send unlimited invoices to 5 clients, Track unlimited expenses, Send unlimited estimates, Get paid via credit cards & ACH, Run reports for an easy tax time
Plus$9.90 Everything in Lite, Send unlimited invoices to 50 clients, Set up recurring invoices & retainers, Automatically capture receipt data, Invite your accountant
Premium$18Everything in Plus, Send unlimited invoices to unlimited clients, Track project profitability, Customize email templates with dynamic fields
SelectCustomEverything in Premium, Access lower credit card transaction fees, Remove FreshBooks branding from client emails, 2 team members included- Dedicated support line
Try FreshBooks

7. Sage 300

Best for Construction and Real Estate Firms

Geekflare rating score 3.8 out of 5
3.8
|

Sage 300 Construction and Real Estate is a powerful software solution designed for contractors, developers, and property managers. It provides comprehensive project visibility and streamlines complex projects with precision. With Sage 300, users can manage risks associated with subcontractors and vendors, enhance visibility with custom reporting, and facilitate collaboration across all project phases in real-time.

Sage 300

The software is built to meet the unique needs of the construction and real estate industries. Its features include project management, service operations, and real estate management. Users can connect the field with the back office seamlessly, ensuring all team members can access critical information. This integration allows for improved communication and simplified accounting, enabling businesses to focus on delivering exceptional service to their customers.

Sage 300 offers extensive reporting capabilities, featuring over 1,400 prebuilt report formats. Users can also create custom reports to gain deeper insights into their business operations. This ability to access vital information empowers users to make informed decisions and enhances profitability. Additionally, Sage provides powerful add-ons like MyAssistant and Office Connector, which further streamline processes and optimize productivity.

Sage’s construction management solutions help users win bids, connect teams, and deliver projects on time and within budget. By simplifying service operations and optimizing service dispatching, the software ensures that companies can respond quickly to client needs and maintain high standards of service. Whether managing residential properties or large construction projects, Sage 300 provides the tools necessary to achieve business goals effectively.

Sage 300 Pros

  • Advantage

    Offers over 1,400 prebuilt report formats and the ability to create custom reports for better decision-making and increased profitability.

  • Advantage

    Connects various aspects of a business—people, projects, processes, and properties — helping streamline operations and achieve financial goals.

  • Advantage

    Offers organization of essential files like contracts and invoices, which reduces risk and improves efficiency.

Sage 300 Cons

  • Advantage

    Extensive features may overwhelm smaller businesses or those with less complex needs.

  • Advantage

    Pricing information is not available on the website.

Sage 300 Pricing

Pricing information is available on request.

Try Sage 300

8. DoorLoop

Supports Multi-property Accounting

Geekflare rating score 4.8 out of 5
4.8
|

DoorLoop simplifies the rental management process for landlords, property managers, and real estate investors. It caters to a diverse range of properties, including residential, commercial, student housing, and more. DoorLoop allows users to manage all aspects of their rental portfolio from a centralized platform.

DoorLoop

The software offers a variety of features that enhance operational efficiency. Its robust tenant communication tools ensure seamless interactions, while the mobile apps enable property managers and tenants to access essential functionalities on-the-go. Users can manage applications, collect rent, handle maintenance requests, and generate financial reports, all from any device. The ability to upload files and receive maintenance requests directly through the app adds to the convenience.

DoorLoop offers excellent support and onboarding services. Users receive unlimited training and assistance, ensuring they can navigate the software with ease. The platform boasts fast response times via live chat, along with access to a wealth of helpful articles. Additionally, its open API facilitates integration with thousands of applications, making it versatile and adaptable to various workflows.

Another unique aspect of DoorLoop is its RapidRent feature, which automates rent collection. Tenants can pay via credit card, eCheck, or cash, and automated reminders help ensure timely payments. This feature streamlines cash flow management for property owners, allowing them to focus on growth rather than payment tracking.

DoorLoop Pros

  • Advantage

    Offers real-time reporting that enables users to track transactions and financial data instantly.

  • Advantage

    Integration with QuickBooks Online and other banking services simplifies the accounting process, making it easier to reconcile transactions.

  • Advantage

    Offers excellent customer support by email and chat.

DoorLoop Cons

  • Advantage

    Onboarding fees are based on portfolio size, potentially making it costly for larger portfolios.

  • Advantage

    While the free tier includes basic features, many advanced functions, such as additional eSignatures and customized dashboards, require higher-tier plans, which may limit access for budget-conscious users.

DoorLoop Pricing

PlanPricing (monthly)Offerings
Starter$59Online rent & fee payments, Tenant portal, Maintenance management, Accounting & reporting, Rental applications & screening, Lease management, World-class support, eSignature, CRM for tenants
Pro$119Advanced accounting and reporting, Live bank connect, QuickBooks online sync, Two-way communication, Tenant announcements, Advanced maintenance management, Outgoing payments, Budgeting, Email, chat, phone & Zoom support
Premium$169VIP Priority Support, Free incoming ACH payments, Free personalized website, Zapier Integration, Free eSignatures, Free bank account setup, Custom convenience fees, Unlimited additional users, Unlimited data storage, Advanced customizable dashboards, API access
Try DoorLoop

9. TenantCloud

To Manage Tenants and Finances

Geekflare rating score 4.3 out of 5
4.3
|

TenantCloud streamlines operations for landlords, property managers, and tenants. Its versatile feature set includes online rent payments, tenant screening, maintenance requests, and rental applications. TenantCloud makes listing properties easy, communicating with tenants, and managing accounting in one centralized system, helping users efficiently oversee their portfolios from anywhere.

TenantCloud

One of its standout features is the team management functionality, which allows landlords and property managers to add team members, assign specific properties, and set customized permissions. This feature enables teams to collaborate, track activity, and complete tasks seamlessly, ensuring every property is managed effectively. TenantCloud’s messaging platform keeps communication between tenants, landlords, and maintenance crews organized, minimizing confusion.

TenantCloud offers rent reporting, where tenants can build their credit history by reporting on-time rent payments to major credit bureaus. This encourages timely payments and enhances the tenant-landlord relationship. Additionally, landlords can use the Rentability Report feature to set optimal rental prices by analyzing local market trends and similar listings. This tool helps fill vacancies faster by providing accurate rent insights.

The platform offers a range of pricing plans, from Starter for DIY landlords to Business for large property management firms, with options for custom solutions based on portfolio size. With its comprehensive tools, TenantCloud empowers landlords and property managers to grow their businesses while simplifying property management tasks.

TenantCloud Pros

  • Advantage

    Supports unlimited units on all plans

  • Advantage

    Automates accounting tasks such as creating invoices, tracking payments, and managing financial data, reducing manual effort and errors.

  • Advantage

    Includes functionalities for online payments, tenant screening, maintenance requests, and property management, making it a versatile choice for landlords.

TenantCloud Cons

  • Advantage

    Higher-tier plans can become costly, particularly for property managers with larger portfolios or those needing extensive features.

  • Advantage

    ‘Team management tools’ are only available in the most expensive plan.

  • Advantage

    Advanced features, such as the amortization tracker, depreciation tracker, and listings auto-refresh, are only available on the most expensive plan.

TenantCloud Pricing

PlanPricing (monthly)Offerings
Starter$15.60Rent Payments, Maintenance Management, Listings and Applications
Growth$29.30Everything in Starter, plus: Lease Builder, Landlord Forms, Property Message Board
Pro$50.40Everything in Growth, plus: Tax Reports, Application Customization, Reconciliation
BusinessCustom Everything in Pro, plus: Team Management & Tools, Task Management, Listings Auto-Refresh
Try TenantCloud

10. Stessa

Best to Automate Rental Property Accounting

Geekflare rating score 4.4 out of 5
4.4
|

Stessa is a financial technology platform for property owners and real estate investors. It offers tools to streamline property management and enhance financial tracking. Stessa empowers users to manage their portfolios efficiently, from rent collection to integrated accounting, making it ideal for both novice and experienced investors.

Stessa

Like many competitive platforms, Stessa also has a feature that automates rent collection. Users can set up recurring ACH payments, allowing tenants to pay rent easily and consistently. This service minimizes the hassle of manual collection and provides the option for automatic late fees, encouraging timely payments. Stessa also simplifies communication by sending reminders, enabling landlords to maintain a professional relationship without the stress of constant follow-ups.

In addition to rent collection, Stessa integrates strong accounting functionalities. The platform captures every rent payment and automatically assigns it to the appropriate property. This real-time accounting capability means that property owners can effortlessly update their financial records. Users can also generate key financial reports, helping them make informed decisions about their investments.

Overall, Stessa offers an effective blend of property management and accounting tools, making it easier for landlords to manage their portfolios efficiently. Its user-friendly interface and powerful automation features set it apart in financial technology, allowing property owners to focus on growing their investments.

Stessa Pros

  • Advantage

    Offers a completely free essentials plan, which includes features like unlimited property management and automatic bank feeds. This plan is ideal for newer investors looking to get organized.

  • Advantage

    Pro plan offers a competitive 4.58% annual percentage yield (APY) on cash balances, making it attractive for users looking to grow their funds.

  • Advantage

    Tax package features are useful as they save a lot of time while preparing for tax returns.

Stessa Cons

  • Advantage

    Does not offer an API like many competitive software solutions — limiting integration with other tools and services.

  • Advantage

    Free plan has no eSignature functionality.

Stessa Pricing

PlanPricing (monthly)Offerings
Essentials$0Unlimited properties, Automatic bank feeds, Basic financial reports, Vacancy marketing, Tenant screening, Online rent collection, 2.83% APY on cash balances
Manage$12Everything in Essentials, plus: One (1) eSignature/month, Schedule E report, 60+ legal forms and templates, Priority chat support, Accelerated rent payments
Pro$28Everything in Manage, plus: Unlimited portfolios, All advanced reports, Advanced transaction tracking, Budgeting and pro-forma, Unlimited receipt scanning, Unlimited chart history, Seven (7) eSignatures/month, 4.58% APY on cash balances, Priority phone support
Try Stessa

11. Landlord Studio

Inbuilt Receipt Scanner and Mileage Tracking

Geekflare rating score 4.9 out of 5
4.9
|

Landlord Studio offers an accounting solution designed specifically for rental property management. With features tailored for landlords, this cloud-based software streamlines the financial aspects of managing rental properties, making tax season hassle-free. Users can easily automate income and expense tracking through a user-friendly mobile app that allows them to categorize expenses, generate instant financial reports, and even track mileage related to property management.

LandlordStudio

Landlord Studio has a great feature called bank feed integration which securely connects users’ bank accounts to the app. This functionality automates the import of transactions, minimizing manual data entry and reducing errors. The software utilizes Plaid for secure connections ensuring that users can reconcile their income and expenses with just a few taps. For those who prefer a paperless solution, the Smart Receipt Scanner digitizes expenses by allowing users to snap photos of their receipts, automatically extracting relevant details.

Landlord Studio also provides a powerful dashboard that offers real-time insights into portfolio performance. Customization options enable users to filter reports by category, date range, and property, facilitating detailed financial analysis.

For added convenience, Landlord Studio integrates seamlessly with Xero, allowing users to sync their financial data effortlessly. This integration eliminates the risk of double data entry and ensures accounting accuracy. The software also includes advanced reporting tools to help landlords maximize their return on investment and simplify tax filing.

Overall, Landlord Studio empowers landlords with the tools they need to manage their rental properties effectively while minimizing the complexities of real estate accounting. With its focus on ease of use and robust reporting capabilities, Landlord Studio stands out as a go-to solution for landlords looking to enhance their financial management processes.

Landlord Studio Pros

  • Advantage

    Users can instantly generate over 15 customizable reports, including the Schedule E-report, providing valuable insights into their portfolio’s financial performance.

  • Advantage

    Comes with a free plan that supports 3 units with essential features, including support.

  • Advantage

    Pricing plans are reasonable.

Landlord Studio Cons

  • Advantage

    Absence of advanced functionalities such as tenant-submitted maintenance requests and vendor assignments for job coordination compared to premium software.

  • Advantage

    Lacks a straightforward way to message tenants directly through the app, forcing landlords to rely on texts and emails. This can make tracking communications across multiple properties cumbersome, raising the likelihood of errors.

Landlord Studio Pricing

PlanPricing (monthly)Offerings
Go$0Up to 3 units, 1 user, Limited document storage, Find & Screen Tenants, Create property listing, Up to 48 hours property listing review, Manage applications, Manual income/expense tracking, Limited automated rent reminders, Basic reporting (PDF only), Tenant portal, Maintenance management, Tenant maintenance requests
PRO$12Unlimited units, 5 users, Priority support, Unlimited document storage, Automated tasks, Online rent collection, Automated rent reminders, Rental accounting, Advanced reporting (CSV, PDF), Xero integration
Try Landlord Studio

12. Propertyware

End-to-end Rental Property Management Software

Geekflare rating score 3.8 out of 5
3.8
|

Propertyware is designed for the unique needs of single-family rental businesses. It streamlines operations with its robust features, empowering property managers to enhance efficiency and drive growth. The platform’s strength lies in its customizable options, allowing users to tailor workflows and processes to match their specific business requirements. This flexibility sets Propertyware apart in a competitive market, enabling property management professionals to operate on their own terms.

Propertyware

Propertyware offers a suite of powerful tools that simplify various aspects of property management. Its intuitive dashboards provide real-time insights into business performance, while customizable reports enable in-depth analysis. The platform also supports online leasing, tenant screening, and payment processing, all through a user-friendly interface. Notably, Propertyware includes an open API, facilitating seamless integration with third-party applications. This integration capability minimizes manual data entry and enhances operational efficiency, making it easier for property managers to focus on providing excellent service.

Propertyware emphasizes customization and data-driven decision-making. The platform allows property managers to create unique workflows, ensuring that they can operate efficiently while maintaining high standards of service. Users benefit from an extensive self-service owner portal that fosters transparency and trust. Furthermore, the reporting capabilities offer actionable insights that help property managers make informed decisions, ultimately improving their bottom line.

Propertyware is a great option because it combines powerful features with well-known customization options. Its commitment to helping property managers optimize their operations makes it a valuable tool for those looking to thrive in the competitive real estate market. 

Propertyware Pros

  • Advantage

    Highly customizable platform allows users to tailor workflows and processes to meet their specific needs, enhancing efficiency and service quality.

  • Advantage

    Effectively manages properties across multiple locations, providing a holistic view of operations.

  • Advantage

    The pricing page is clear and to the point, with no hidden fees.

Propertyware Cons

  • Advantage

    Extensive features and customization options may be overwhelming for smaller property management businesses with simpler needs.

  • Advantage

    Has a learning curve, and simple tasks might feel cumbersome.

Propertyware Pricing

PlanPricing (per unit/month)Offerings
Basic$250Global Customization & Reports, Marketing, Property Management, Owner Portals, Tenant Portals, Maintenance, Accounting, Screening, Payments, Unlimited Support, Unlimited Storage, Unlimited Online Training, Two-Way Text Messaging, eSignature, Inspections, Maintenance Projects, Vendor Portals
Plus$350Everything in Basic plus additional features for comprehensive property management
Premium$450Everything in Plus with even more advanced options and premium support
Try Propertyware

13. QuickBooks

To Simplify Construction Accounting

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QuickBooks is designed specifically for the construction industry. It provides tools that simplify various aspects of construction accounting, enabling businesses to manage finances with ease and efficiency. QuickBooks helps users run their construction businesses more effectively by automating tasks, enhancing tracking capabilities, and providing in-depth insights into financial performance.

QuickBooks

One of the standout features of QuickBooks is its seamless invoicing process. Users can create and send invoices and estimates on the go, attaching necessary documents such as plans and contracts. This feature allows instant notifications when invoices are viewed or paid, making it easier to stay on top of receivables. QuickBooks online also facilitates quick payment processing — accepting various payment methods, which help users get paid faster — up to four times quicker, according to the company. The mobile card reader lets users accept credit and debit card payments directly on-site, streamlining the payment experience.

Job costing is a critical aspect of QuickBooks. The software provides robust tools for tracking time and expenses associated with each project. Users can generate profit reports and comprehensive job cost reports, giving them visibility into which projects are profitable and which may require additional attention. This feature is essential for making informed business decisions and ensuring financial health.

The software excels in reporting capabilities, allowing users to create customizable reports that offer insights into income statements, balance sheets, and cash flow. The software enables users to manage their contractors efficiently by simplifying tax form preparation. Subcontractors can easily input their W-9 and tax ID information directly into QuickBooks, ensuring accurate 1099 forms are generated for tax reporting.

The QuickBooks mobile app further enhances usability, allowing users to manage their accounting tasks from anywhere. This accessibility ensures users can monitor their finances, track expenses, and receive alerts on their mobile devices. QuickBooks integrates with various apps tailored for the construction industry, making managing leads, scheduling projects, and streamlining operations easier. 

QuickBooks Pros

  • Advantage

    Mobile app allows users to manage accounting tasks on the go, including sending invoices, tracking expenses, and accessing financial reports from anywhere.

  • Advantage

    Pricing page is very detailed, offering plenty of packages to choose from.

  • Advantage

    Offers a 30-day free trial.

QuickBooks Cons

  • Advantage

    The ‘expert assisted’ feature is free for only 30 days, even for the most expensive plan.

  • Advantage

    New users may find navigating and fully utilizing the software challenging without dedicated support.

QuickBooks Pricing

PlanPricing (Monthly)Offerings
Plus$49.50Comprehensive reports, Connect all sales channels, Includes 5 users, Inventory, Project profitability, Financial planning
Advanced$117.50Everything in Plus, plus: Powerful reports, Auto-track fixed assets, Data sync with Excel, Batch invoices and expenses, Custom access controls, Workflow automation, Data restoration, 24/7 support & training, Revenue recognition, Includes 25 users
Try QuickBooks

What Is Real Estate Accounting Software?

Accounting software for real estate is designed to meet the financial needs of property managers and real estate professionals. It tracks income, expenses, and leases while generating sector-specific financial reports. The software also automates routine tasks like rent collection and invoice generation, ensuring accurate records. Additionally, such platforms centralize financial data — giving property managers a clear view of performance. This helps them make informed decisions and stay compliant with financial regulations and tax requirements.

What are the Benefits of Real Estate Accounting Software?

Real estate accounting software offers a range of benefits that can greatly improve property management efficiency and effectiveness. Here are some key advantages:

  • Automation of Routine Tasks: Automation reduces the time spent on repetitive tasks such as generating invoices, sending payment reminders, and tracking expenses. This frees up valuable time for property managers and minimizes the risk of errors that can occur with manual entry.
  • Efficient Rent Collection: Simplifies the rent collection process by enabling online payment options and automatic reminders for tenants. This ensures timely payments, improves cash flow, and reduces late fees. To make it even easier, these platforms have built-in tracking features that property managers can use to stay updated on rent collection. 
  • Property-Specific Accounting: Managing multiple properties can complicate accounting practices. Real estate accounting software provides property-specific accounting features that allow managers to maintain separate financial records for each property. This clarity helps in analyzing the profitability of each asset, making it easier to identify which properties are performing well and which may require attention.
  • Financial Forecasting: Real estate accounting software includes advanced reporting and analytics tools that help property managers make accurate financial forecasts. By analyzing past data and market trends, users can predict future cash flows, expenses, and potential investment opportunities.
  • Tax Compliance: Navigating tax regulations can be complex, especially for property managers with multiple income sources and expenses. Real estate accounting software simplifies tax compliance by organizing financial data and generating reports needed for accurate tax filings. By maintaining up-to-date records, property managers can ensure they meet all legal requirements while minimizing the risk of costly penalties or audits.
  • Audit Trail: A robust audit trail feature within real estate accounting software provides a complete record of all financial transactions. This level of transparency is essential for accountability, as it allows managers to track changes and identify who made specific entries. In the event of an audit or dispute, having a clear trail of transactions helps to resolve issues more effectively and maintains trust with stakeholders.
  • Decision-Making: Access to real-time financial data and detailed reports empowers property managers to make informed decisions. With accurate insights into revenue, expenses, and cash flow — real estate professionals can quickly assess the financial health of their properties and implement necessary changes. This data-driven approach enables better strategic planning, ensuring that resources are allocated efficiently and effectively to maximize returns.

How To Choose the Best Real Estate Accounting Software?

Selecting the right real estate accounting software is essential for managing your properties effectively. Here are some key factors to consider: 

  • Analyze Your Needs: Start by evaluating your specific property management and accounting requirements. Consider the size of your portfolio, the types of properties you manage, and the features that are essential for your operations. For example, if you need advanced reporting or tenant screening capabilities, look for an accounting software option that offers these features. For instance, software like Buildium, AppFolio, or DoorLoop could be suitable choices for such use cases.  
  • Consider Your Budget: Determine how much you are willing to invest in accounting software. Prices can vary significantly based on features, so it’s important to find a solution that fits within your budget while still meeting your essential needs. Keep in mind any additional costs for integrations or add-ons that may be required. For example, if you are working with a limited budget, software like Baselane, Stessa, and LandlordStudio offers free plans.
  • Try Free Trials: Many software like Buildium, Xero, and QuickBooks offer free trials or demo versions of their products. Take advantage of these opportunities to test the software’s features and usability. This hands-on experience will help you assess whether the software aligns with your workflow and if it meets your expectations. 
  • Integration Capabilities: Evaluate how well the software integrates with your existing systems and tools. For instance, if you use other construction accounting software or accounting platforms, ensure that the new solution can seamlessly connect with these systems. Good integration capabilities can save time and improve overall efficiency.

Is There Free Real Estate Accounting Software?

Yes, there is free real estate business accounting software available for landlords and property managers. While these options may have basic accounting features compared to their paid counterparts, they still provide essential functionalities for managing finances and tracking income and expenses. Some of the free platforms include Baselane, Xero, Stessa, and LandlordStudio. For a more comprehensive list of options, check out these free accounting software