Best Property Management Accounting Software Shortlist
Here is my list of the best property management accounting software:
- Buildium - Best all-in-one property management software
- Doorloop - Most intuitive software
- QuickBooks - Best for beginners
- Stessa - Best for performance insights
- Proper.ai - Best for one-on-one customer support
- Appfolio - Best for automations
- MRI Commercial Management - Best for commercial property management
- Yardi Breeze - Best for non-technical users
- Rentec Direct - Best for reporting
- TenantCloud - Best value for money
- Rent Manager - Best for efficient AR and AP processes
- Hemlane - Best for collaboration
Property managers have enough on their plates. By simplifying accounting and bookkeeping tasks, independent managers and firms can increase efficiencies and focus more energy on what matters most—their properties and tenants. I selected software tools that can save managers the most time while also allowing more accounting tasks to be handled in-house (thus reducing external costs).
Using property management accounting software can offer several advantages over standard bookkeeping platforms—but it’s important to choose the right solution for your business.
In this guide, I’ll summarize each software option’s functionality, user-friendliness, and price to help you decide on the best property management accounting software for your needs.
What is Property Management Accounting Software?
Property management accounting software helps individual managers and management firms handle the business side of property management. Some are general-purpose accounting platforms, while others are specifically designed for property managers.
On the accounting side, these tools help managers collect and track rent payments, pay bills, track expenses, and prepare financial reports. More comprehensive tools also help with tenant screening, lease management, and maintenance requests.
Overview of the 12 Best Property Management Accounting Software
Based on a combination of features, functionality, UI, pricing, and portfolio scope, these are the best rental property management accounting platforms on the market today.
1. Buildium - Best all-in-one property management software
Buildium is a property management software designed to help managers organize and handle just about every aspect of their business. Its dashboards serve as an overview of your entire operation, from outstanding rent to total door listings and tenancy rates.
Why I picked Buildium
I selected Buildium because it covers all the bases. From the accounting side, Buildium connects directly to bank accounts at most major financial institutions to help you track rent payments automatically. It also has built-in payment processing features for ACH payments and credit card purchases to help manage your accounts payable and vendor management. It even lets you accept cash payments through a partnership with PayNearMe.
Buildium Standout Features and Integrations:
Features of Buildium include built-in payment processing (ACH, credit card, cash) and automatic bank syncing/reconciliation, which combine to make tracking rent payments much easier. It also has a slick resident portal, which makes it easier for tenants to request maintenance, make payments, and manage lease agreements. By handling these more mundane tasks Buildium allows managers to focus on higher-value activities.
Integrations include Obligo, LeadSimple, Tenant Turner, PetScreening, Gravy, Hunter Warfield, and more.
Pricing: From $52 per month
Free Trial: Free 14-day trial
Pros
- All-in-one property management platform
- Excellent mobile app
- Useful resident portal for payments and maintenance requests
Cons
- A bit pricey for smaller managers (under 50 units)
2. Doorloop - Most intuitive
Doorloop is a full-service property management software tool, covering everything from tenant screening to payment collection to accounting.
Why I picked Doorloop
I picked Doorloop primarily because of its ease of use. The app’s design is slick and responsive on any device, and the tenant and owner portal versions are simplified enough to not confuse users who are less tech-savvy.
Doorloop Standout Features and Integrations:
Features of Doorloop include a built-in CRM and tenant portal for all-in-one management, an intuitive owner portal, a simple UI with responsive design, and marketing features that help you find tenants and schedule showings.
It’s very easy to use, whether you’re accessing the manager portal, owner portal, or tenant portal. It gives you lots of ways to automate and customize your text and email communication with tenants and owners. The dashboards only show you what’s necessary, without unnecessary clutter.
Integrations include Zillow, Trulia, Quickbooks, Asana, DeskAI, Slack, Zoom, Dropbox, Google Drive, Evernote, Gmail, Outlook, DocuSign, Salesforce, RingCentral, and Expensify.
Pricing: From $59 per month (up to 20 units)
Free Trial: Demo available
Pros
- Very simple to use for managers, owners, and tenants
- All-in-one platform
- Built-in marketing features to find tenants and schedule showings
Cons
- No free trial
- Limit of one currency per account
3. Quickbooks - Best for beginners
QuickBooks is the leading online accounting software solution for small businesses. The best part is it’s specifically designed for people with no prior accounting experience, so anyone can use it.
QuickBooks is not specifically made for property managers, so it does not have some of the management-specific features that others on this list have. It’s best used in conjunction with property management software.
Why I picked QuickBooks
I selected QuickBooks because of its simplicity. It has everything most small businesses should need to manage their bookkeeping and general accounting needs.
QuickBooks Standout Features and Integrations:
Features of QuickBooks include customizable data visualization and reporting, which is helpful for sharing data with stakeholders and preparing required reports. It also offers integrated payroll and merchant account payments, plus easy invoicing and payment processing.
Plus, if you’re willing to skip the free trial and go ahead and buy a plan, it qualifies you for free expert set-up, as well as 50% off your first three months.
Integrations include over 750 popular business apps, like Square, PayPal, BuilderTrend, and Gusto.
Pricing: From $30 per month.
Free Trial: Free 30-day trial.
Pros
- Simple and easy to use
- Free integration support
- Extensive learning library and community forums
Cons
- No property management-specific features
- Exporting data to Excel requires purchasing a 3rd party application
4. Stessa - Best for portfolio performance insights
Stessa is a rental property management software that offers a diverse range of features. It focuses on all the aspects that are most important for property management: Tenant screening, rental applications, rent collection, insurance, landlord banking and payments, and accounting.
Why I picked Stessa
I selected Stessa primarily for its impressive reporting and business intelligence features. Its customizable dashboards can help managers monitor portfolio performance and optimize business operations. Plus, the advanced tenant screening features help you make more informed decisions about who you’re renting to by checking credit reports, income verification, and screening applicants for any outstanding judgments or liens.
Stessa Standout Features and Integrations:
Features include advanced reporting capabilities to create income statements, cash flow reports, and real-time balance sheets. Stessa has a Cash Management feature that allows you to set up checking accounts tied to each of your individual properties, helping to simplify expense tracking and produce more accurate and up-to-date financial reports.
Stessa is in the process of making further advancements to its Cash Management feature to streamline one of the most time-consuming aspects of property management: collecting rent from tenants. The update will allow residents to set up recurring rent payments online—so residents avoid late fees and you save your team a lot of time.
Integrations include Appfolio and PropertyWare.
Pricing: Up to $20 per month
Free Trial: None (but Stessa’s basic plan is free for life).
Pros
- Free tier available
- Excellent financial performance insights
- Cash management feature with competitive APY
Cons
- Limited integrations
- Accounting functionality is limited in the free tier
5. Proper.ai - Best service for one-on-one support
Proper.ai is very different from any other product on this list. It’s not so much software as it is a professional service. Proper.ai offers professional accounting services with a specialty in property management—meaning you’re paying for one-on-one help with a real human accountant rather than a software solution. Proper’s experts come from industry backgrounds and are specifically trained to handle the unique variables of property management accounting.
This approach is more costly, but it can still be cost-effective for larger managers. Proper.ai recommends their service to firms managing 250+ units.
Why I picked Proper.ai
I selected Proper.ai because it’s unique in offering one-on-one accounting and bookkeeping services from real human accountants (who are genuine industry experts).
Proper.ai Standout Features and Integrations:
Features include one-on-one accounting support from real experts (who have backgrounds with firms like Appfolio and Yardi). Proper.ai is like hiring a bookkeeper that specializes in property management.
Integrations include manual integration with internal systems (Proper.ai is a service, rather than software—but their experts can gather data from many existing business systems and tools).
Pricing: Custom pricing available upon request
Free Trial: None
Pros
- Real human bookkeeping help from industry experts
- AP, AR, bank reconciliation, and fee management
- Specifically designed for property managers and owners, with genuine expert help
Cons
- Tax preparation services are not included
- Can be costly for smaller companies (best for 250+ units)
6. Appfolio - Best for automation
Appfolio is a leading property management software that serves as an all-in-one platform for both residential and commercial managers. Its software is feature-rich and leans heavily on artificial intelligence (AI) and machine learning (ML) to automate certain workflows and provide data-driven insights.
Why I picked Appfolio
I selected Appfolio because of its extensive use of AI/ML to drive efficiency across property management operations. I also like their performance insights to compare year-over-year, budget to actuals, etc.
Appfolio Standout Features and Integrations:
Features include smart bill entry that scans PDF invoices for key data to import to Appfolio, automated AP, automated late fees, and an AI leasing assistant. You also have a vendor portal, tenant portal, and owner portal that help you customize and automate your communication with each one.
Integrations include ButterflyMX, CondoCerts, Knock, Lowes, NetVendor, and PetScreening.
Pricing: From $1.40 per unit (minimum monthly fee of $280)
Free Trial: Demo available
Pros
- Ample automation features to save time
- Easy integrations with a growing library of industry tools
- Unique features like utility management and security deposit alternatives
Cons
- Pricing structure isn’t a good fit for small portfolios
- Does not support portfolios of under 50 units
7. MRI Commercial Management - Best for commercial property management
MRI Commercial Management is a property management software tailored to the needs of large investors and commercial real estate managers. It focuses on leasing tools, lease flow monitoring, and advanced intelligent reporting and monitoring tools.
Why I picked MRI Commercial Management
I selected MRI because of its focus on commercial real estate (most tools on this list can support commercial properties, but few have a feature set as rich as MRI’s).
MRI Commercial Management Standout Features and Integrations:
Features include lease flow CRM to manage the entire property lifecycle (and gain greater visibility into your leasing pipeline, helping to improve occupancy rates), and Secure Sign to manage and sign digital commercial real estate documents electronically.
The AI-powered Lease Intelligence can analyze commercial lease data. It helps you manage lease agreements and other contract documents by analyzing breakpoints and checking calculations and other key lease clauses.
Integrations include AmRent, ApartmentFinder, Experian, HappyCo, Knock, and Obligo.
Pricing: Custom pricing available upon request
Free Trial: Demo available
Pros
- Designed for commercial property management
- Excellent lease management, lease flow, and lease analytics tools
- Responsive web-based design for use on any device
Cons
- Accounting features are fairly basic
- Somewhat outdated UI
8. Yardi Breeze - Best for non-technical users
Yardi Breeze is a cloud-based property management and accounting software that makes it easier for individual managers and small firms to manage their properties. It’s specifically designed to be simple to use, even for beginners and non-technical users (another product from the same company, Yardi Voyager, is a more advanced, connected solution for larger managers). Plus, it has specialized applications for different property types, including residential, commercial, self-storage, and affordable housing.
Why I picked Yardi Breeze
I selected Yardi Breeze because of its intuitive UI and its responsive cloud-based design for cross-platform compatibility.
Yardi Breeze Standout Features and Integrations:
Features include specialized applications for unique property types (commercial, self-storage, affordable housing, etc.), each of which offers features specifically tailored for those industries. For instance, the self-storage application has extensive promotion/discount management tools, as well as the ability to track non-unit rentals like boat and RV storage in defined lots.
Integrations include QuickBooks, Condo Control, Nexus, and Butterfly MX.
Pricing: From $1/unit per month ($100 minimum)
Free Trial: No free trial, but plans canceled within the first 30 days will not be charged.
Pros
- User-friendly
- Simple integrations
- No onboarding/initiation fees
Cons
- Pricing structure makes it expensive for managers with less than 50-100 doors
- Annual contract (12 months)
9. Rentec Direct - Best for financial reporting
Rentec Direct is a comprehensive property management software that’s known for excellent financial reporting capabilities. It’s a relatively simple tool to use, but it packs a punch in terms of features. It handles both the day-to-day operations (like collecting rent payments and recording expenses), as well as the bigger-picture financial projections and performance tracking.
Why I picked Rentec Direct
I selected Rentec Direct for a combination of the reporting features and its Trust Account Certified status. That means it complies with all state-level requirements for trust accounting and security deposit fund tracking.
Rentec Direct Standout Features and Integrations:
Features include trust account certification in all US states to comply with state real estate board requirements, robust financial reporting and projections, and built-in tenant communications via SMS and email.
Integrations include PetScreening, Dropbox Sign, Twilio, Plaid, and CloudConvert.
Pricing: From $45 per month
Free Trial: 14-day free trial
Pros
- Robust financial reporting
- Top-notch compliance support, including Trust Account Certification
- Tenant and owner portals via mobile app
Cons
- Pricey for managers with smaller portfolios
10. TenantCloud - Best value for money
TenantCloud is an affordable property management software that has basic accounting features built-in. It’s generally best when paired with external accounting software, but it can be sufficient on its own for simpler operations.
Where TenantCloud shines is on the business side of property management: It’s great for listing available units to dozens of listing sites automatically, screening tenants, collecting rent, and more.
Why I picked TenantCloud
I selected TenantCloud because it’s one of the most affordable platforms on the market, with plans from just $15.
TenantCloud Standout Features and Integrations:
Features include many listing and marketing tools, like the ability to automatically add listings to dozens of listing sites. TenantCloud also helps with generating and managing tenant leads and running tenant screening reports.
Integrations include QuickBooks, Stripe, Zillow, and Google Calendar.
Pricing: From $15 per month
Free Trial: Free trial and demo available
Pros
- Affordable price point
- Solid listing tools
- Tenant lead generation tools
Cons
- Basic accounting functionality
- Best paired with additional accounting tools (like QuickBooks)
11. Rent Manager - Best for efficient AR and AP processes
Rent Manager is a comprehensive property management software with a solid list of features. It offers full-featured accounting with exceptional AR and AP processes—as well as ample marketing, listing, and screening tools to run the day-to-day operations of property management.
Why I picked Rent Manager
I selected Rent Manager because it has excellent AP and AR processes to help finance teams work more efficiently. The platform allows you to designate categories for everything coming in (rent, late fees, storage, parking, etc.) and going out (repairs, maintenance, licensing fees, taxes, etc). Once set up, the additional context adds insight to your financial reports and gives you a better understanding of your financial performance.
Rent Manager Standout Features and Integrations:
Features include a complete accounting system, with advanced features like the ability to run in cash and accrual accounting modalities simultaneously. The platform can also generate over 450 unique financial reports for owners, stakeholders, and authorities.
Integrations include AmRent, Lease Track, Butterfly MX, Apartment List, and Experian.
Pricing: From $1/unit per month ($200 minimum)
Free Trial: Demo available
Pros
- Solid accounting features
- Support for cash and accrual accounting simultaneously
- Good balance of property management, finance, and accounting functionality
Cons
- Initial implementation costs 2x the normal monthly rate
- Pricing structure is overpriced for small portfolios
12. Hemlane - Best for collaboration
Hemlane is a property management tool that covers leasing, tenant placement, lease tracking, and rent collection. It’s primarily designed for smaller portfolios (1 to 100 properties), and in fact, its pricing structure makes it a bit more expensive for large firms (but a pretty good value for smaller operations).
Why I picked Hemlane
I selected Hemlane because they offer managed repair and maintenance coordination services. Essentially, Hemlane’s admin team finds licensed professionals in your area to complete tenant repair requests and handles all the coordination for you.
Hemlane Standout Features and Integrations:
Features include managed repair coordination, extensive marketing and leasing tools, one-click advertising to the 30 top listing websites, and simple online rent collection.
Integrations include Zillow Rental Manager, Stripe, and BetterCapital.
Pricing: From $2.50/unit + $34 base fee
Free Trial: 14-day free trial
Pros
- Managed repair coordination
- Budget-friendly for smaller operations
- Solid marketing and listing tools
Cons
- Basic accounting features
- Not suited to large operations
Other Property Management Accounting Software Options
If you didn’t find quite what you were looking for, here are a few more options to consider.
- Property Matrix - Best for customizations
- PropertyWare - Best for reporting and analysis
- Condo Control - Best for condos and homeowner associations
- Sage Intacct - Best for a variety of features
- RealPage - Best for commercial and residential portfolios
How I Selected the Best Property Management Accounting Software
Here’s a short summary of the main criteria I used to develop my list of the best rental property management software for this article:
Core functionality
At its core, property management accounting software should allow you to:
- Collect rent payments
- Record and reconcile property transactions
- Manage invoices and billing
- Prepare financial reports
- Account reconciliations
Additionally, if the software is a property management tool with accounting features built in, it should also enable you to:
- Screen potential tenants
- Manage lease paperwork
- Manage maintenance requests
- Accept rent payments with multiple payment options (ACH, check, credit card, etc.)
Key features
Here are some unique features I looked for when selecting rental management accounting software:
- Property management features: While this list focused on accounting functionality, having property management features (tenant screening, maintenance management, etc.) built-in to the software is a huge selling point in my book.
- Rent collection: All software on this list will be able to process payments from tenants/customers. But the ease of use is important, as are the payment options available. Property management platforms tend to have tenant “portals,” which tenants sign into to pay bills, set up auto-pay, etc. These often have more payment options, as well.
- Manager/tenant/owner communication: I gave preference to software that does a good job of connecting managers, tenants, and owners with different interfaces and reports. Ideally, software should be full-featured for managers and simplified for tenants.
- Tenant communications and notifications: Many of the best software options in this category provide tools to communicate with tenants, including automated rent reminders, and lease expiration from one platform.
Usability
Usability encompasses the user interface (UI) on all platforms, including mobile devices.
Not all of these tools have mobile apps, but I gave preferential treatment to those that do (and to those that have intuitive UI in general).
I also considered the software’s usability for tenants for tools where there is a tenant-facing component like rent collection and maintenance requests.
Intended use and portfolio scope
This list is somewhat of a hybrid: There are a few accounting-specific options (like QuickBooks) and tons of property management software that come with some accounting features (like Buildium and Doorloop).
I included both, as different firms and managers may have different preferences.
I also considered the intended use and scope of each tool in terms of door count, residential/commercial, etc.
Integrations
Some of the platforms on this list are comprehensive enough that integrations become less essential. Others, like QuickBooks, are so accounting-focused that integrations with property management software are 100% necessary.
It’s essential to make sure the property management accounting software tool you choose can sync with your company’s checking accounts, and easily integrate with any software you’re already using to process payments or communicate with tenants, as well as any other tools you use in your day-to-day business.
Price
Property management software should save you time (and money). It’s not always worth the cost—especially for those managing just a few properties.
The price range for the tools on this list runs between $15 to $200 per month. Most property management accounting software also includes a per-unit charge, which typically runs between $1 to $5 per unit.
People Also Ask
Here are some common questions people have about buying property management accounting software.
Is QuickBooks good for collecting rent and other property management tasks?
Is property management accounting software necessary?
What tasks can property management software help with?
Summary
Property management software solutions can help property managers save time, keep accurate books, collect rent payments, and improve relationships with tenants and owners.
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