If you've been meticulously maintaining your rental property's books with pen and paper or a trusty old spreadsheet for years, you're likely getting tired of juggling ledgers and receipts, never knowing where exactly you stand, or making the wrong entry that could lead to a costly mistake come tax time.
Trying to maintain your property finances the old fashioned way is tedious and time-consuming. Fortunately, there are now a lot of great tools out there that can make your rental property accounting process simpler and more efficient.
Some accounting software platforms are now made specifically for rental property owners and are designed to streamline your efforts. The top software services offer tools that simplify everything from tracking expenses to generating detailed financial reports with just a few clicks.
To help you find the software that has the features you need at a price that meets your budget, this buyer’s guide includes discussions of important topics like:
- A head-to-head comparison of key accounting features
- Additional features that can help you run the day-to-day operations of your rental property business
- Pricing
- Who we think will benefit the most from each platform
We’ll start the list with one of our own property and financial management platforms, Stessa.
Stessa
Stessa is rental property accounting and management software designed specifically for landlords that seek to streamline their financial management processes. Trusted by over 250,000 property owners, the software automates accounting tasks, providing users with an intuitive platform to manage rental income and expenses without the need for extensive bookkeeping expertise.
By connecting directly to bank accounts and credit cards, Stessa is designed to automatically import and categorize financial transactions, so that landlords have up-to-date and accurate records at their fingertips. This eliminates the tedious manual entry typically associated with rental property bookkeeping, allowing landlords to focus more on growing their investment portfolios.
Stessa also offers real-time dashboards that provide landlords with a comprehensive view of their property investments. The owner dashboard highlights key metrics such as cash flow, net operating income, and return on investment. Users can easily track and analyze financial performance across multiple properties and portfolios.
Stessa also excels in managing tax-related tasks, offering features specifically designed to ease the burden of tax season. By maintaining a detailed and organized record of income and expenses throughout the year, Stessa simplifies the process of bringing your CPA up to speed and/or preparing tax documents on your own.
Its built-in Schedule E and Tax Package reports provide the necessary financial information to streamline interactions with CPAs, minimizing the stress and complexity often associated with tax preparation. The software's receipt scanning capabilities help landlords reduce paper clutter and claim more tax deductions.
Key accounting features
- Built specifically for rental property accounting: Yes
- Import transactions from bank and financial accounts: Yes
- Detailed expense tracking for maintenance and repairs: Yes
- Automatic expense categorization: Yes
- Separate bank accounts for each property: Yes
- Automatically post tenant rent payments by property: Yes
- Tracking security deposits: Yes
- Financial reporting dashboard: Yes
- Portfolio performance tracking: Yes
- Dedicated tax center: Yes
- Generating Schedule E tax forms: Yes
- Receipt scanning: Yes
- Document storage: Yes
- Mobile app: Yes
Additional features for property owners
- Online rent collection
- Automated bank feeds
- Landlord banking
- Tenant screening
- eSignature capabilities
- Vacancy advertising
- Syndication to Zillow
- Advanced financial reporting
- Tenant autopay options
- Lease templates
- Document and receipt storage
- High-yield cash management accounts
- Advanced transaction tracking
- Budgeting and pro-forma analysis
- Project expense tracking
- Tenant ledger and rent roll
- Automated reminders and late fees
- Smart receipt scanning
- Unlimited properties and portfolios
- Priority support options
- Legal forms and templates
Pricing
Essentials Plan
Price: Free
Best For: Newer investors looking to get organized and accomplish key tasks efficiently.
Offers unlimited automatic bank feeds, basic financial reporting, vacancy marketing, tenant screening (extra charges apply), and online rent collection. This plan also provides a competitive APY on cash balances, making it a great starting point for landlords aiming to streamline their rental property management.
Manage Plan
Price: $12/month (paid annually) or $15/month (paid monthly)
Best For: Investors looking to automate repetitive tasks, save on legal and CPA fees, and manage short-term rentals (STRs).
The Manage plan adds features like one eSignature per month, Schedule E reporting, access to 60+ legal forms and templates, priority chat support, and accelerated rent payments. It's designed to provide additional tools for landlords who need more comprehensive management solutions.
Pro Plan
Price: $28/month (paid annually) or $35/month (paid monthly)
Best For: Sophisticated investors with more transactions, advanced reporting needs, and higher leasing velocity.
Includes everything in the Essentials and Manage plans, plus unlimited portfolios, advanced transaction tracking, budgeting and pro-forma analysis, unlimited receipt scanning, and advanced financial reporting. It also offers 7 eSignatures per month, a higher APY on cash balances, and priority phone support. This plan is ideal for landlords managing larger portfolios and requiring detailed financial insights.
Who is Stessa ideal for?
Stessa's rental property accounting software is perfect for both new and experienced landlords and property investors. It helps streamline financial management through automated accounting, comprehensive reporting, and integrated property management tools.
Buildium
Buildium rental property accounting software is a good match for professional real estate investors with large property portfolios.
Property owners can manage accounts receivables and payables, view payments and deposits, sync and reconcile bank accounts, generate monthly and year-end financial reports, and even e-file Form 1099s for independent contractors.
Key accounting features
- Built specifically for rental property accounting: Yes
- Import transactions from bank and financial accounts: Yes
- Detailed expense tracking for maintenance and repairs: Yes
- Automatic expense categorization: Yes
- Separate bank accounts for each property: Yes
- Automatically post tenant rent payments by property: Yes
- Tracking security deposits: Yes
- Financial reporting dashboard: Yes
- Portfolio performance tracking: Yes
- Dedicated tax center: No
- Generating Schedule E tax forms: Yes
- Receipt scanning: Yes
- Document storage: Yes
- Mobile app: Yes
Additional features for property owners
- Rent collection
- Tenant screening
- Maintenance request tracking
- Online payments
- eSignature for leasing
- Rental listings management
- Property inspections
- Owner portal access
- Violation tracking
- Analytics & insights
Pricing
Pricing runs from $58 per month to $375 per month, depending on the features selected. Every Buildium plan offers essential features like accounting, maintenance management, and online portals for communication and operation.
In addition, Buildium offers several add-on features for an extra fee. These include e-pay for online rent payments, tenant screening, and e-signatures.
Who is Buildium ideal for?
Buildium is ideal for professional investors with large property portfolios and property management companies.
FreshBooks
FreshBooks is a cloud-based accounting software system that aims to help real estate investors grow revenues and boost ROI. Users can send invoices, monitor expenses, and collect rent payments online.
The software is an all-in-one accounting solution for rental property owners to manage bookkeeping needs, including recurring invoices for rent payments, late payment reminders for tenants, and auto-billing rent payments to speed up cash flow.
Key accounting features
- Built specifically for rental property accounting: No
- Import transactions from bank and financial accounts: Yes
- Detailed expense tracking for maintenance and repairs: Yes
- Automatic expense categorization: Yes
- Separate bank accounts for each property: No
- Automatically post tenant rent payments by property: No
- Tracking security deposits: Yes
- Financial reporting dashboard: Yes
- Portfolio performance tracking: No
- Dedicated tax center: No
- Generating Schedule E tax forms: Yes
- Receipt scanning: Yes
- Document storage: Yes
- Mobile app: Yes
Additional features for property owners
- Customizable invoices
- Recurring payments and auto-bills
- Multi-currency billing
- Bank reconciliation
- Profit & loss reports
- Expense tracking
- General ledger access
- E-signatures
- Time tracking
Pricing
Billing begins at $19 per month.
Who is FreshBooks ideal for?
FreshBooks is primarily designed for freelancers and solopreneurs, although it is possible to use the software for rental property accounting.
Landlord Studio
Property owners can screen tenants, collect rent online, track income and expenses, reconcile bank transactions, and generate financial reports with Landlord Studio.
Users can set up recurring expenses, access and view transactions directly from bank feeds, and scan receipts for upload and storage. Landlord Studio’s advanced financial reporting includes over 15 customizable reports designed specifically for landlords.
Key accounting features
- Built specifically for rental property accounting: Yes
- Import transactions from bank and financial accounts: Yes
- Detailed expense tracking for maintenance and repairs: Yes
- Automatic expense categorization: Yes
- Separate bank accounts for each property: Yes
- Automatically post tenant rent payments by property: Yes
- Tracking security deposits: Yes
- Financial reporting dashboard: Yes
- Portfolio performance tracking: Yes
- Dedicated tax center: Yes
- Generating Schedule E tax forms: Yes
- Receipt scanning: Yes
- Document storage: Yes
- Mobile app: Yes
Additional features for property owners
- Online rent payments
- Tenant screening
- Tax reporting
- Rental listings and syndication
- Automated rent reminders
- Tenant auto-pay setup
- Maintenance request tracking
Pricing
There’s a free plan for managing up to 3 units, but it only includes basic accounting features like income/expense tracking, a mileage tracker, and receipt scanning. Pricing for paid plans that offer more advanced accounting features begins at $12 per month on annual billing for up to 3 units, with pricing increasing as the number of units increases.
Who is Landlord Studio ideal for?
DIY landlords looking for a simple rental property accounting software solution.
AppFolio
AppFolio offers a full suite of accounting features so that you can pick and choose the modules you want to use. The software is good for investors with large portfolios and for professional property managers.
Key accounting features
- Built specifically for rental property accounting: Yes
- Import transactions from bank and financial accounts: Yes
- Detailed expense tracking for maintenance and repairs: Yes
- Automatic expense categorization: Yes
- Separate bank accounts for each property: Yes
- Automatically post tenant rent payments by property: Yes
- Tracking security deposits: Yes
- Financial reporting dashboard: Yes
- Portfolio performance tracking: Yes
- Dedicated tax center: No
- Generating Schedule E tax forms: Yes
- Receipt scanning: Yes
- Document storage: Yes
- Mobile app: Yes
Additional features for property owners
- Online payments
- Resident portal
- Online maintenance requests
- Work order management
- Inspections and unit turns
- Document management
- Owner portal
- Vendor portal
- Smart bill entry
- Leasing CRM
Pricing
Pricing is available by quote only. There is a minimum spend and a minimum of 50 units required to apply for the AppFolio service.
Who is AppFolio ideal for?
Landlords and property managers looking for advanced property management features for large portfolios.
QuickBooks
QuickBooks is one of the best-known general-purpose software solutions used by all types of businesses. Real estate investors can track income, manage expenses, and generate routine financial reports including income statements and balance sheets.
However, because QuickBooks is a general accounting software solution, it doesn’t offer many real estate-specific features that many rental property investors need.
Key accounting features
- Built specifically for rental property accounting: No
- Import transactions from bank and financial accounts: Yes
- Detailed expense tracking for maintenance and repairs: No
- Automatic expense categorization: Yes
- Separate bank accounts for each property: Yes
- Automatically post tenant rent payments by property: No
- Tracking security deposits: No
- Financial reporting dashboard: No
- Portfolio performance tracking: No
- Dedicated tax center: No
- Generating Schedule E tax forms: Yes
- Receipt scanning: Yes
- Document storage: Yes
- Mobile app: Yes
Additional features for property owners
- Income and expenses tracking
- Invoicing and payments
- Financial reporting
- Receipt capture
- Mileage tracking
- Bill management
- Tax deductions
- Cash flow management
- Multiple currency support
- Contractor payments management
Pricing
Pricing begins at $35 per month.
Who is QuickBooks ideal for?
Ideal for users who have a basic understanding of accounting and prefer a general-purpose software rather than a tool specifically tailored for rental property accounting.
Rentec Direct
Rentec is designed for landlords who want to do their own property management and accounting.
The Rentec Pro software features full bank, property, and tenant accounting, along with tenant screening, vacant property marketing, online rent payments, and a mobile app for tenants to make rent payments and maintenance requests.
Key accounting features
- Built specifically for rental property accounting: Yes
- Import transactions from bank and financial accounts: Yes
- Detailed expense tracking for maintenance and repairs: Yes
- Automatic expense categorization: Yes
- Separate bank accounts for each property: Yes
- Automatically post tenant rent payments by property: Yes
- Tracking security deposits: Yes
- Financial reporting dashboard: Yes
- Portfolio performance tracking: Yes
- Dedicated tax center: No
- Generating Schedule E tax forms: Yes
- Receipt scanning: No
- Document storage: Yes
- Mobile app: Yes
Additional features for property owners
- Online rent payments
- Tenant screening
- Mobile app for tenant portal access
- Marketing vacant properties
- Track income and expenses
- Online file management
- Work order and maintenance request tracking
- Automated data backups
- Enforce renters insurance requirements
- Detailed financial reporting
Pricing
Pricing begins at $50 per month for up to 25 units, with pricing increasing as the number of units increases.
Who is Rentec Direct ideal for?
Ideal for landlords and property managers of all sizes, from startup DIY landlords to professional managers with large portfolios of residential and commercial properties.
REI Hub
REI Hub is specifically designed for rental property owners who want to take the stress out of bookkeeping.
After signing up for REI Hub, you can add your property details, add accounts such as rental bank and mortgage loan, and start keeping your books. Rentals are tracked on a property-by-property basis and at the entire portfolio level.
Key accounting features
- Built specifically for rental property accounting: Yes
- Import transactions from bank and financial accounts: Yes
- Detailed expense tracking for maintenance and repairs: Yes
- Automatic expense categorization: Yes
- Separate bank accounts for each property: Yes
- Automatically post tenant rent payments by property: Yes
- Tracking security deposits: Yes
- Financial reporting dashboard: Yes
- Portfolio performance tracking: Yes
- Dedicated tax center: No
- Generating Schedule E tax forms: Yes
- Receipt scanning: Yes
- Document storage: Yes
- Mobile app: Yes
Additional features for property owners
- Property-based reporting
- Rental transaction templates
- Automated mortgage accounting
- Lease tracking
- Mileage log integration
- Receipt and document storage
- Comprehensive financial reporting
- Fixed asset tracking
- Tax-ready Schedule E reports
- Secure bank account connections
Pricing
Pricing begins at $15 per month for 3 units, with pricing increasing as the number of units increases.
Who is REI Hub ideal for?
Perfect for rental property owners and real estate investors seeking solutions for tracking income, expenses, and taxes across their real estate portfolios.
Rent Manager
Rent Manager is a complete accounting software solution that enhances and streamlines the entire rental property accounting process. Features include accounts receivable and payable, payments, electronic reconciliations, budgeting and financial reporting, and utility billing to tenants.
Key accounting features
- Built specifically for rental property accounting: Yes
- Import transactions from bank and financial accounts: Yes
- Detailed expense tracking for maintenance and repairs: Yes
- Automatic expense categorization: Yes
- Separate bank accounts for each property: Yes
- Automatically post tenant rent payments by property: Yes
- Tracking security deposits: Yes
- Financial reporting dashboard: Yes
- Portfolio performance tracking: Yes
- Dedicated tax center: Yes
- Generating Schedule E tax forms: Yes
- Receipt scanning: Yes
- Document storage: Yes
- Mobile app: Yes
Additional features for property owners
- Online rent payments
- Maintenance scheduling
- Tenant communication tools
- Customizable reporting
- Resident screening
- Mobile app access
- Work order management
- Marketing and leasing integration
- Budgeting and financial management
- Service issue tracking
Pricing
Basic pricing has a $200 monthly minimum with an unlimited number of users. The Implementation package is 2x the monthly fee.
Who is Rent Manager ideal for?
Best for landlords and owners with medium to large sized portfolios of single-family and multifamily properties.
Property Matrix
Property Matrix designed their rental property accounting software with simplicity in mind. Investors can manage a full set of books online with built-in accounting capabilities.
Features include ACH and credit card processing, enterprise-class accounting, and comprehensive document management.
Key accounting features
- Built specifically for rental property accounting: Yes
- Import transactions from bank and financial accounts: Yes
- Detailed expense tracking for maintenance and repairs: Yes
- Automatic expense categorization: Yes
- Separate bank accounts for each property: Yes
- Automatically post tenant rent payments by property: Yes
- Tracking security deposits: Yes
- Financial reporting dashboard: Yes
- Portfolio performance tracking: Yes
- Dedicated tax center: No
- Generating Schedule E tax forms: Yes
- Receipt scanning: Yes
- Document storage: Yes
- Mobile app: Yes
Additional features for property owners
- Online payments
- Tenant portals
- Document management
- Check scanning
- Customizable owner statements
- Electronic signatures
- Multi-lease and tenant management
- Scanned bills with audit trail
- Email templates and blasts
- Building websites
Pricing
Property Matrix doesn't disclose the cost of its service on the website. Standard pricing is for up to 250 units, plus a set-up fee of 3 months.
Who is Property Matrix ideal for?
For property managers handling a large number of units, seeking features like enterprise accounting and comprehensive tools for residential and commercial property management.
