As a property manager, you're responsible for keeping track of rent payments, maintaining properties, and ensuring that your tenants are happy. And on top of all that, you need to stay on top of your finances.
So, let’s take a look at the best property management software for accounting and bookkeeping.
Having good accounting and bookkeeping software is essential as it can make your life a lot easier by automating tasks and giving you insight into your finances. We'll discuss the features of each software and what sets it apart from the rest. We'll also provide a list of pros and cons for each software.
So, let’s get started!
Property management and accounting software comparison chart (top 10 highest rated)
Too busy to read our rental property accounting software reviews in detail? Take a look at the table below for a quick overview of the top 10 software in this category. The table includes each software's name, purpose, pricing, and a direct link to the product.
Property managers who want to streamline their operations
$1.40 to $3 per unit per month
Landlords and property managers who want to automate their accounting and bookkeeping
starting at $35/month for up to 10 properties
Property managers on a budget with few properties
Landlords who manage a large number of properties
Starts at $50/month
Those who focus on renting
Free + transaction fees
Property management companies
Starts at $450/month
Owners of residential and commercial rental properties
Available upon request
Property managers or landlords in charge of 1–20,000 rental units.
Starts at $29.50/month
MRI Commercial Suite
Commercial property owners and managers
Available upon request
Property owners who want accounting software only
starts at $30/month
What are the different types of property management software?
Before we dive into our reviews of the best accounting and bookkeeping software for property management, let's take a look at the different types of software on the market. This will help you choose the right software for your needs.
All-in-one property management tool
Property management software
Condo / HOA management software
Commercial property management software
All-in-one property management tool is a comprehensive solution that includes features for accounting, bookkeeping, maintenance tracking, and more. This type of software is ideal for property and rent managers who want to streamline their operations and have everything in one place.
Some all-in-one property management software even includes features for marketing and tenant screening. This can be helpful if you're looking for a complete solution that covers all aspects of property management.
Accounting software, however, is focused solely on accounting and bookkeeping. This type of software is a good choice for property managers who want to keep track of their finances but don't need all the bells and whistles of an all-in-one solution.
Finally, there's property management software. This type of software is designed specifically for property managers and includes features like maintenance scheduling, rent collection, and tenant screening.
Now that we've discussed the different types of software let's take a look at our reviews of the best accounting and bookkeeping software for property management.
What is the best property management software? Here’s our top 10 list:
Now that you're familiar with the different types of property management software let's take a look at the best accounting and bookkeeping software for property management. In this section, we'll provide in-depth reviews of the best property management software, including the key features, pricing, and pros and cons.
1. AppFolio (best property management software overall)
AppFolio is an all-in-one property management software that includes features for accounting, bookkeeping, maintenance, communication, and even marketing. This software is ideal for property and rent managers who want to streamline their operations and have everything in one place.
The software comes in two plans, Core and Plus, to match the budget and needs of different types of users. Before you commit to any of these plans, you can fill out an online form and an AppFolio salesperson will guide you through a free demo so you can evaluate whether the features are the right choice for your business.
Is there any difference between the Core and Plus plan? Yes, there is.
The Core tier includes AppFolio’s customizable reports, online payments and maintenance, marketing tools, lease agreements management, and communication functions.
With the Plus tier, users get access to a variety of strategic performance insights to scale their portfolios. With this plan, you can also access services such as website creation, lead generation, tenant screening, insurance, online payments, debt collections, utility management, and more.
One downside of AppFolio is the minimum monthly fee. You can subscribe to Core plans only if your portfolio has 50 units ($280/month). The Plus plans are available only to users whose number of units is greater than 500 ($1,500/month). There is also an onboarding fee of at least $400, based on your portfolio size.
All-in-one software with property management and advanced accounting features
Pay only for the features you need and use
Includes a mobile app
Free demo is available before making a subscription
Customer support is excellent
The software is among more expensive ones
Has a minimum monthly fee
Not fit for landlords a small number of properties
When it comes to the pricing plans, first, you have to make a choice about whether you want to use the software for residential or commercial buildings. The pricing plans are as follows:
Residential: $1.40 per unit (Core plan) or $3 per unit (Plus plan)
Commercial: $1.50 per unit (Core plan) or $3 per unit (Plus plan)
All plans offered by AppFolio are based on a monthly subscription.
2. Rentec Direct (top multifamily property management software)
Rentec Direct is a specialized property management software for landlords and property managers who want to automate their accounting and bookkeeping. It is one of the best rental property management software for multifamily, as it provides an easy way to add account users and set different permission levels. The best part is you can add new users for free, making this software our top recommendation for rental properties with multiple users.
The software also offers a wide range of features for accounting, leasing and management, and even operations, such as a free professional website, electronic signature, and insurance protection. This multifamily asset management software also offers an array of features for online rent collection, payments, invoicing, tenant screening, ledger accounting, and more.
The only downside of Rentec is that it has a limited number of integrations with other apps. Currently, it integrates with QuickBooks Online Advanced and DocuSign.
For those who want to automate their accounting and bookkeeping, Rentec Direct is the best property management software. Its user-friendly interface and wide range of features make it our top recommendation for rental properties with multiple users.
Has mobile apps for integrated communication
Premium features for property managers and landlords
Multi-user access to one account with unique usernames and passwords
Free two-week trial
A limited number of integrations with other software
Rentec Direct offers monthly and annual subscription plans. Users who opt for an annual subscription receive a 10% discount.
The pricing is based on the number of properties, starting at $35/month for up to ten properties. Users with up to 100 properties pay $90/month. The pricing increases for every ten properties added.
Visit Rentec Direct
3. Stessa (best accounting software for landlords with several properties)
Stessa is a popular choice among investors because it is free and comes with everything a landlord with several properties would need. This makes it a great choice for those who want to keep costs low and get the most for their money.
Stessa is free, web-based software that has a lot of accounting features. The app is compatible with both Windows and Mac devices.
Since Stessa is free, it does have certain limitations. This software is the best choice for real estate professionals who want to focus on key metrics to manage their assets and keep track of their finances.
The software features a document management center, the ability to scan receipts, the ability to create a number of reports, as well a completely automated bookkeeping and financial tracking tool that syncs with the bank and financial accounts connected to rental property (balance sheets, cash flow, rent rolls, IRS-ready tax statements, and more).
Due to the software's limitations, it is not suitable for professional or enterprise-level users.
Free to use
Web-based software that is compatible with both Windows and Mac devices
Scan receipts and sync with bank accounts
Designed for landlords, by landlords
Limitations in features because it is free software
Focuses more on real estate investors
Free to use.
4. Buildium (Best property management accounting software for users with large portfolios)
Buildium is a cloud-based property management software that offers accounting features for landlords and property managers. It is one of the most popular software on the market, with over 10,000 customers in more than 100 countries.
In the cloud, users can record and see all fees, payments, deposits, and refunds. They can also manage accounts payable with built-in calculators that show how much they owe to companies and vendors, reconcile bank accounts automatically, make a variety of financial reports, and automatically create and e-file a Form 1099.
In addition to these features, Buildium also offers a lot of advanced features with easy-to-understand tutorials.
This software is suitable for those who manage many properties, as it offers unlimited users and properties. The only downside of this software is that it is one of the more expensive options on the market.
Buildium is the best property management accounting software for large property portfolios. The Growth and Premium plans have a lot of accounting features and can handle up to 5,000 units.
Offers accounting features for landlords and property managers
Is suitable for those who manage a large number of properties
Automatic rent collection through a tenant portal
Online ticket support
A lot of training materials offered
One of the more expensive options on the market
Not fit for single property managers
Buildium has three plans, which are called Essential, Growth, and Premium. The price of each plan depends on how many units you are in charge of:
Essential - up to 150 units - $50/month
Growth - up to 5,000 units - $150/month
Premium - up to 5,000 units - $460/month
The main difference between Growth and Premium is that the lettir comes with additional features such as Insights and Business Analytics.
Buildium also gives a 10% discount to anyone who agrees to be billed once a year.
5. Cozy aka Apartments.com (best apartment management software)
Cozy is a cloud-based apartment accounting software that has a lot of features for small landlords.
This free and flexible property management solution is for people who want to rent out their homes. Cozy merged with Apartments.com, and now this property management platform lets people who rent out houses, apartments, condos, etc., list them on the website to get qualified applicants.
This new platform features:
Online payments (both tools use the same payment foundation)
Applications and screening reports
Possibility to track maintenance requests
Legal leases that are compliant with local laws, with e-signing
Free faster payments (eligible payments process in 3 business days instead of 5)
With this website, landlords can list their rentals, accept applications and screening reports from applicants, create and sign online leases, and collect rent payments free of charge.
Free and easy to use
A lot of features for small landlords
Applications and screening reports
Easy creation of rental listings and legal leases
Does not have as many features as some of the other property management software on this list
Cozy, that is Apartments.com, allows the users to do the following free of charge:
List a rental
Accept applications and screening reports from applicants
Create and sign online leases
Collect rent payments
Renters only pay $29+tax for a complete TransUnion screening reports package that is reusable for up to 30 days. ACH payments are free, and renters incur a 2.75% transaction fee if they use a debit or credit card– just like on Cozy.
6. Property Matrix (best advanced accounting software for property management companies)
Property Matrix is advanced accounting software that is suitable for property management companies. This software offers a lot of features, such as online rent payments, workflow management, and maintenance requests.
Companies that use Property Matrix can:
Set up and keep track of transactions
Manage multiple companies
Make invoices and bills for vendors and tenants that come out regularly.
Set up triggers and automate actions that you do often
Custom fields make it easy to keep track of information.
Use one system to handle all of your documents.
Create custom forms
Collect electronic signatures
Communications can be set up through a single Communications Hub
Get a professional website
Property Matrix surpasses other software programs because it has more features and can be changed in more ways. It can handle complicated accounting tasks, cut down on work, and get rid of the need for separate accounting software.
Users can choose which features they want to use, making it suitable for people of all skill levels. But because the accounting software is so powerful, large landlords and their accountants will benefit more than small and medium-sized landlords.
Property Matrix also has a mobile app so that you can manage your properties on the go. The only downside of this software is that it is one of the more expensive options on the market.
Plenty of advanced features
All features can be customized to fit your needs
Powerful accounting software
Mobile app available
Designed for all levels of accounting experience
More expensive than some other options
Property Matrix offers three monthly subscription options:
Standard - $450/month
Property Matrix Pro - $550/month
Enterprise - $1400/month
Visit: Property Matrix
7. RealPage (top property accounts software for both commercial and residential properties)
RealPage is one of the best property accounting software on our list. This web-based platform gives the owners of residential and commercial rental properties plenty of accounting tools.
One of its features is an integrated rent payment service that lets tenants of both residential and commercial properties pay with cash, credit, or debit cards. Residents can also pay with checks, which they can mail to a secure P.O. box where the checks are scanned and posted automatically in real-time.
RealPage has a full corporate financial suite that makes time-consuming tasks easier and faster. This is in addition to its property accounting features. There are tools for spending management that make it easier to make purchase orders, pay bills, and match invoices, making this one of the best hotel accounting software.
The software also lets you change how approvals work and set limits to keep from spending too much. Job cost and replacement reserves give a clear picture of every repair that needs to be done and how much it will cost.
When it comes to reconciling bank activities with RealPage accounting, the platform's bank feeds feature automatically imports your bank transactions every day and matches each one to what is in your general ledger.
Can be used for both commercial and residential properties
Has an integrated rent payment service
Offers a full corporate financial suite
Fully automated vendor payment management
Bank feeds feature automatically imports your bank transactions every day
Too expensive for single property managers
RealPage’s pricing plan is quote-based and only available upon request.
8. DoorLoop (best bookkeeping software for rental properties)
DoorLoop is a tool for managing rental properties that comes with a full set of features. DoorLoop is made to be easy to understand and use, and it has features that make it easier to run every part of your rental business. It can be used by any property manager or landlord who is in charge of 1–20,000 rental units.
DoorLoop includes a full suite of features such as:
Everything needed for property accounting, including custom reports and a variety of payment methods like ACH and credit cards.
The ability to manage work orders from anywhere.
Built-in CRM and tenant communication portal that lets you collect rent, offer renters insurance, and accept applications.
A site for homeowners that gives them access to reports and lets them print checks.
The software has marketing tools that let you list properties and even screen tenants.
The only downside of this software is that there is no trial available. However, users can sign up for a free demo.
A full suite of accounting and property management features and notifications
Can be used by any property manager or landlord
Work orders can be managed from anywhere
Has a built-in CRM and tenant portal
Open API that lets you connect the software to other tools
No free trial, but users can schedule a free demo.
DoorLoop offers three different plans:
Basic plan - starts at $29.50/month
Pro - starts at $49.50/month
Premium - starts at $69.50/month
These prices are for landlords with up to 20 properties. For users with more units, the prices increase.
Right now, DoorLoop’s plans are 50% off your first two months. There are no training or support fees. Pricing starts as low as $49 per month for your first 20 units with DoorLoop’s Standard plan.
9. MRI Commercial Suite (top commercial property management software)
MRI Commercial Suite is a property management software that offers many features for commercial properties. This tool can be used to manage office, retail, and industrial properties. The software includes features for accounting, asset management, lease management and administration, and space and construction management.
MRI Software has a long list of features, such as online rent collection, maintenance management, tenant screening, multifamily insurance, resident communication, investor relations, rent tracking, compliance solutions, credit risk management, and more.
The only downside of the software is its outdated interface.
Can be used to manage various property types, including office, retail, and industrial properties
Has features for accounting, asset management, lease administration, and space and construction management
Features good leasing tools and a generally robust, customizable set of features
No free trial or demo available
You can't find prices on MRI's website, so you'll need to contact them to find out how much it will cost you based on how many rental properties you have and what features you want.
Visit: MRI Commercial Suite
10. Quickbooks Online (top general accounting software)
Quickbooks Online is one of the most popular accounting solutions on the market. It's cloud-based accounting software that covers all aspects of bookkeeping, from invoicing and bill payments to tracking inventory and preparing tax returns.
The software is easy to use and has a robust set of features. Designed for small and medium-sized businesses, this accounting solution includes features such as invoicing, billing, inventory tracking, creating financial reports, budget creation, sales and customer management.
In addition, customer support is also excellent, and it comes in the form of online forums and phone support. With all these remarkable features, Quickbooks Online is definitely one of the best accounting software currently available that can also be used in the property management industry.
However, Quickbooks is not the cheapest option available. Also, some users have reported performance issues.
Ease of use
Comprehensive feature set
Integrates with many popular business applications
Available for iOS, Mac, Windows, and Android
Performance issues reported by some users
On the expensive side
Quickbooks Online has four different plans available.
Simple Start - starts at $30/month
Essentials - starts at $55/month
Plus - starts at $85/month
Advanced - starts at $200/month
Visit: Quickbooks Online
What is property management software & what does it do?
Property management software is designed to help landlords, property managers, and real estate investors streamline their rental management tasks. It typically includes features such as lease tracking, rent collection, maintenance requests, and financial reporting. The software aims to automate and centralize key property management functions, increasing efficiency and organization.
The best real estate accounting software can help you with tasks such as rent collection, maintenance requests, tenant screening, creating financial reports, and more. In addition, some property management software solutions also offer features for online rent payment, work order management, and accounting.
Which of the top property management software options is best for me? Key takeaways
The best software for property management will depend on your specific needs and preferences. However, all of the options on our list are great choices that can help make your life as a landlord or property manager easier.
Our top choice is AppFolio, which is a comprehensive, cloud-based solution that offers features for property management, accounting, and document storage. AppFolio is easy to use and has excellent customer support.
If you're looking for a more affordable option, consider Rentec Direct. This software is also cloud-based and offers similar features as AppFolio, but at a lower price.
For those on a budget, we recommend giving Stessa a try. This software is free to use and offers property management features, which are more than enough for landlords with a few properties.
Finally, if you're looking for accounting software specifically, we recommend Quickbooks Online. This solution is easy to use and covers all aspects of bookkeeping, from invoicing and bill payments to tracking inventory and preparing tax returns.
There is plenty of accounting software for small business like Quickbooks, so if none of the recommendations from this list suit you, make sure to give those a try.
The choice of property management software depends solely on your needs. So, take your time and write down your bookkeeping and accounting needs. Then, have one more look at our list and choose the software that suits both your needs and your budget.