Property management accounting software includes industry-specific tools such as portfolio oversight, automated bookkeeping, and invoice tracking. We used our advanced review methodology to evaluate top solutions for single-building owners and large investors with thousands of units.
- Buildium: Best Overall
- Avail: Best for Small Property Managers
- Entrata: Best for Large Portfolios
- Appfolio: Best Mobile App
- DoorLoop: Most Scalable
- Rentvine: Best Vendor Portals
- Stessa: Best for Investors
- Yardi Breeze: Best Usability
- Rentec Direct: Another Good Option
1 Buildium - Best Overall
Why We Chose It: We put Buildium at the top of our list because of its property accounting capabilities, which managers of all sizes and property types can use. Features such as accounts payable, automatic bank reconciliations, and customizable charts of accounts all help managers save time on bookkeeping. It also handles reporting and includes tenant and owner portals.
Buildium offers an online platform for residential building owners that automates rent, fees, and bill payments. Funds are also directly deposited into a bank account, eliminating manual deposits. We like the fact that online payments, accounting, and tenant portals are all available in every plan, making Buildium affordable for owners managing a small number of units.
After demoing the product, one area where Buildium fell short was the onboarding new tenants module. Figuring out the correct process can be challenging for some, as the interface is not very intuitive, and the system does not make it clear which buttons need to be clicked.
2 Avail - Best for Small Property Managers
Why We Chose It: We like Avail because of its strong accounting features and property management modules best suited for independent landlords. The software automatically tracks payments and maintenance costs from all properties in one dashboard, helping owners visualize overall totals. It also breaks down transactions into categories and types, ensuring accuracy and organization.
We found Avail’s rent price analysis module noteworthy, as it automates reports that include market trends and in-area competitors. The module is geographically specific, so it works well for owners with multiple properties in the same market. It generates rent estimates based on similar units in the area, helping owners stay competitive and aware of the current market. One drawback of Avail is that the free version doesn’t waive ACH fees for tenants.
3 Entrata - Best for Large Portfolios
Why We Chose It: Entrata is best for managers with large portfolios because of its wide array of property management, marketing, and accounting features. Beyond the core accounting tools, we like Entrata’s budgeting module, which allows users to consolidate data and use formulas to set different budgets for each property. It also keeps version history and comments all in one dashboard for easy reference.
We also found Entrata’s property management tools to be strong, including business intelligence. The software automates analysis by compiling data and streamlining bank reconciliations, which can help owners with an extensive portfolio visualize their current business. Other features include rent reporting, digital marketing, and bill payments. However, Entrata does not have public pricing, so property owners must reach out first and receive a quote.
4 Appfolio - Best Mobile App
Why We Chose It: We like Appfolio’s mobile app as a top option for property managers because of its ease of use and functionality. The app allows centralized communication, where users can quickly contact residents via text and email. It also provides document sharing, which lets tenants access important information. We found the UI easy to navigate and the portals responsive, making it a top option for residential managers who desire an optimized mobile app for their tenants.
One of its main accounting features is real-time flexible reporting, including owner, income, and cash flow statements. Its performance insights allow for easy comparison between properties, past performances, and budget reviews to keep financial goals on track. Its base residential package starts at $1.49/unit/month, but there is a 50-unit minimum, which may turn away smaller property owners.
5 DoorLoop - Most Scalable
Why We Chose It: We chose DoorLoop as the most scalable because it can handle businesses from 20 units to over 5,000 as the portfolio grows. It also supports widely diverse portfolios that include properties of all types and multiple currencies, which is ideal for those managing global properties. This makes it a good choice for growing companies looking to expand and need software that can handle an influx of data.
We like DoorLoop’s accounting module, which features real-time reporting, a customizable chart of accounts, and resources like DoorLoop University, which helps train new users. It integrates with QuickBooks Online and connects with banks and credit and debit cards for easy reconciliation. However, Quickbooks Online integration is unavailable for the “starter” base plan.
6 Rentvine - Best Vendor Portals
Why We Chose It: Rentvine is a property management system with strong accounting modules. We like its vendor portal feature, which lets users set up vendors, pay them directly and automatically, and view billing history. Managers with vendors working on several properties can pay multiple invoices with one check, eliminating numerous payments to the same vendor.
Rentvine’s accounting module features the manager’s ledger tool, which automatically directs money to the right accounts. It employs a double-entry system that uses Generally Accepted Accounting Principles (GAAP) with a thorough audit trail, ensuring compliant bookkeeping. Rentvine requires a $199/month minimum, which makes it less ideal for independent managers.
7 Stessa - Best for Investors
Why We Chose It: Stessa is property management accounting software tailored to landlords and real estate investors with rental properties. It features vacancy marketing, tenant screening, and legal document integration, all of which aim to make these processes more efficient. Its accounting module features an iOS mobile app that allows for double-entry bookkeeping and financial reporting on the go.
Stessa offers a free “essentials” plan with unlimited properties, online rent collection, and basic financial reports. However, investors looking for more comprehensive features like advanced transaction tracking and legal form templates must upgrade to paid versions. One downside we found is it only supports residential rental properties, so investors with portfolios that include commercial entities will want to look elsewhere.
8 Yardi Breeze - Best Usability
Why We Chose It: We put Yardi Breeze on our list due to its usability and combination of accounting and property management modules. The software is easy to use because of its intuitive navigation and modern-style interface. This makes it easy for new users to learn the software and better navigate through its modules efficiently. Specifically, it automates accounting features like general ledger management, payables, budget tracking, and financial statement generation for quick workflows.
Yardi Breeze specializes in residential, commercial, affordable housing, and self-storage properties. It automates management tasks such as rent collection, maintenance, and reports to keep data organized and save owners time. While their pricing is public, businesses with diverse property portfolios must request a customized quote.
9 Rentec Direct - Another Good Option
Why We Chose It: Rentec Direct is an effective system for property managers and landlords that streamlines accounting, operations, leasing, and management. Features include lead tracking, tenant and owner portals, unlimited users, and a core accounting module.
We found that Rentec Direct’s marketing features stand out, as they provide a free professional website to help promote the business. New property managers lacking an established brand and website can use Rentec Direct to get their name out there and jumpstart their business quickly. It is also affordable for small to mid-sized businesses because of its scaled pricing model based on total units.
What is Property Management Accounting Software?
Property management accounting software is a system that includes standard financial management functions, like general ledger and expense tracking, and combines them with a property management system that has industry-specific tools. These include owner and tenant portals, rent collection, and maintenance request management. Property management accounting software can be used by independent landlords with one building to an enterprise-level business with a diverse portfolio of thousands of buildings.
The combination of property management and accounting systems allows businesses to streamline processes without separating the two functions. These all-in-one systems help property owners automate bookkeeping while boosting business and satisfying tenant needs.
Key Features
- Core Accounting: Manage the general ledger, generate balance sheets and income statements, and organize financial statements.
- Financial Reporting: Automatically run reports on financial data, including income and expenses. Visualize financial performance across several properties.
- Payment Tracking: Track rent and other tenant payments. Categorize and consolidate payments from multiple buildings.
- Tenant and Owner Portals: Provide a portal for tenants to pay rent and an owner portal where individual building managers can see reports. These help tenants stay updated on rent and submit maintenance requests easily.
- Manage Work Orders: Streamline work order management by housing them all in one place.
- Track Maintenance Expenses: Manage all maintenance requests for easy payment and organization.
Primary Benefits
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Streamlined Accounting: Automating tasks like balance sheets, accounts payable, and invoices saves businesses valuable time. It’s also much more accurate than manual bookkeeping, which involves human error that can make data inaccurate.
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Increased Communication: Keeping your residents happy is vital to property management. Tools like tenant portals allow streamlined communication with residents by providing an all-in-one place for rent payments, maintenance requests, and sending out important notices. Many systems have a mobile app that lets both parties do all this on the go.
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Receive Payments Faster: Online payment portals make receiving payments easy, as the entire process is automated, eliminating tenants’ need to mail checks. Systems can connect straight to your bank for automatic direct deposit.
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Financial Organization: Property management accounting systems make it easy to oversee important financial data, such as revenues and expenses from all units. By categorizing and sorting finances, owners can better understand their overall cash flow.
Pricing
A common pricing model systems employ a flat fee monthly subscription plus an additional cost per unit. These are only around $1-5 per unit, which can quickly add up for large investors. For example, Appfolio’s pricing starts at $1.49/unit/month, with a $250 per month minimum.
Another common pricing model systems offer is tiered monthly plans that increase in price as they include more features. These are usually flat fees that can be changed depending on the desired features and number of units. They also often have a minimum or maximum number of units for each plan.
Like most business software, the price of accounting software for property management varies based on what features you need and your business type.
