6 Best Accounting Software for Landlords (2024)

You should know it’s not only big businesses, non-profits, and small businesses that prepare bookkeeping and accounting books. As a landlord, you have to be extremely careful with records.

Landlords are one of the major class of individuals, who accounting and bookkeeping should be a basic framework of their operations – you have to keep track of time, repairs, repainting, rentals, tax, etc.

While you can still do this with basic accounting tools like google sheets, excel, etc. Those would not help you optimize your efforts as a landlord. Accounting software could help you perform better.

You will need to buy one of the following best accounting software to have your finances accurate and at your fingertips.

To help Landlords like you make the right choice of accounting software that would help you sort out your finances, management, etc., we have researched, and from the research, we have made this list of the best accounting software for Landlords. Get cozy as we flip through them.

Upfront Conclusion

The best accounting software for landlords right now is Appfolio and Rentec Direct.

Best Accounting Software for Landlords Ranking

Appfolio – overall best accounting software for Landlords.
Rentec direct – fastest accounting software for landlords.
Stessa – top free accounting software for landlords.
Buildium – best for landlords who are also property managers.
Rent manager – the best collection of Integrations.
Property matrix – best user-friendly, customizable software.

1. Appfolio

Founded in 2006, Appfolio is a cloud-based property management software that offers solutions that cut across accounting, leasing, marketing, maintenance, and communication between landlords and tenants. Our research is the overall best accounting software for landlords is it offers all-in-one functionalities that makes housing management easier for you.

Appfolio helps you scale and digitize, automate and streamline all your processes as a landlord.

Pricing

It has two plans;

The core plan: $280 per month at $1.40 for 1 unit/month.
The plus plan: $1500 per month at $3 for 3 units/month.
Appfolio does not offer a free trial, but you can call to book a demo.

We recommend you the core plan as it is excellent for basic property management, and it scales with you as you grow.

Features

It offers you instant performance insights.
Includes CAM tracking and reconciliation
It automates late fees and the AP approval process. It gives you the ability to do real-time reporting.
Automates tenants’ debt collections and late fee waivers for you
Appfolio lets you do bulk tenancy charges.
You can easily pay paid online through Appfolio.
Appfolio enables corporate accounting for larger buildings.
It gives you easily track and report of depreciation.

Why Do We Recommend Appfolio?

We recommend Appfolio because of its all-in-one features which is a good option for landlords. It’s a pricing system that lets you choose which feature you want is an awesome advantage as you will have to go with what you want.

This range of basic and advanced features makes Appfolio good for you rather than an experienced or a non-tech-savvy landlord.

2. Rentec Direct

As the runner-up to Appfolio, Rentec Directs proa full-featured web-based management system for Landlords and property managers ides you with trust account general ledger certified accounting for you. As one of the best accounting software for Landlords, it lets you keep fantastic records while being time effective. Rentec Directs your online payments, 1099 filing, management techniques, QuickBooks import, etc.

Pricing

Rentec Direct does not have fixed prices for its plan, but you can use its online instant quote maker to get prices for both the Rentec PM and the Rentec Pro plans based on the number of units you have.

It offers you a 12-days free trial.

We recommend the Rentec Pro plan for you because it includes all the tools and features you need to manage and makes for proper bookkeeping and accounting, even if you are an amateur landlord without an office.

Features

You will access a US client support team.
It gives you complete management solutions.
You can easily order instant credit, criminal, and eviction reports of your tenants.
It takes you through general ledger accounting to keep your records simple and accurate.
It offers you the opportunity to know the history of prospective tenants.
It streamlines and automates your rent collection process with faster online payments.
You can also use Rentec Direct software as your online filing system to store documents such as lease agreements, receipts, photos, etc., with your owners and tenants.

Why Do We Recommend Rentec Direct?

Are you looking for faster accounting software for landlords? Or a Software that enables faster online payments? Then Rentec Direct accounting is the right choice for you. However, its accounting feature is simple and fast too. Landlords have fallen in love with its compatibility with online payment platforms and flexibility to make online payments for tenants faster and easier. You will to live up too!

3. Stessa

This is another awesome accounting software for real estate and landlords agents who wants to monitor how their assets are going on real-time. As one of the best accounting options you can get, Stessa offers you a smart but simple accounting and finance service. You can simply save time, optimize and track your efforts, income, and expenses. It also does integrate with Appfolio to give you the best experience in smart money management, income and expenses tracking, and reporting.

The beautiful thing about Stessa is that it is all for free.

Pricing

Stessa is completely up for free.

Features

Stessa lets you manage and communicate performance as a landlord to other real estate investors.
You will easily keep track of property performance and the paper trail of your finances.
Stessa tracks income, expenses and gives you good critical information on whether to buy a building or not.
Include receipt scanning and compatibility with Android and IOS phones.
All of its information resides with bank-level security.It also has a document storage feature so you can store scanned documents, curate receipts, etc.
The mobile app includes a mortgage portal and rental reports to make it easy for you to find tenants, etc.

Why Do We Recommend Stessa?

There are so many reasons why we recommend Stessa accounting. It starts from its 100% free feature to its awesome range of features and functionalities that let you manage and keep a good bookkeeping and accounting record. Stessa will keep you on top of your housing performance and make it easy for you as a landlord to track your assets’ performance and other real estate investors.

4. Buildium

Another top best accounting software for landlords is Buildium, a cloud-based accounting software founded in 2004. It optimizes property management and bookkeeping for small and large landlord and property management firms.

It is well used by landlords for its effective communication feature with prospective tenants and real estate agents. With Buildium, you will find accounting, leasing, renting, and operations simple.

Pricing

Buildium’s pricing starts at $50 per month for the Essential plan.
Growth plan: $160 per month
Premium plan: $460 per month.
Buildium gives you 14 days free trial.

We recommend the Essential plan for your asset accounting and management as it has most of the basic features a landlord would want.

Features

Buildium is good for both small and large unit landlords.
It tracks and records every payment, any deposit made by your tenants.
It has an easy-to-use dashboard and displays the summary of all transactions.
Buildium automatically reconciles bank account with all transactions you make.
It lets you communicate with tenants, property managers, and real estate agents from one central point.
Let’s you find better tenants by making clear out screening of prospective tenants

Why Do We Recommend Buildium Accounting?

We recommend Buildium accounting software because of its top feature of effective communication between landlords and tenants. We also do this because it is a top choice and the right option for landlords who are also property managers.

You should take advantage of the full suite of resources and make sure you are following trust accounting rules.

5. Rent Manager

Next on our list if the best accounting software for landlords is Rent manager, a strong property management and accounting software. It offers both basic and advanced options designed to give the best experience in property accounting. Its main features include Integrated accounting, property management database, integrations with other apps and software, contact management, work orders for your buildings, as well as marketing solutions.

Pricing

There are no particular pricing plans with the Rent manager, but you can use the online instant quote to get the right price that matches you.

It does not offer a free trial, but you can book a demo.

Features

You can easily post vacancies and accept online payments of rents and leasing for your building.
It makes it easy for you to conduct business with real estate agents and tenants from anywhere and at any time.
You can easily create, customize, sign and send leasing agreements with Rent Manager.
Rent manager’s epay functionality makes it possible for you to send and receive payments from tenants, etc., even on the go.
It offers lots of integrations that allow you to screen tenants, allow better communication, and easier report writing.
You can track account payable and account receivable.
Enables electronic bank reconciliation with all transactions

Why Do We Recommend Rent Manager?

We recommend Rent Manager, and it had earned its place in this list of the best accounting software for landlords because of the seamless wide range of integrations it offers you.

You will love most of the features it offers too.

6. Property Matrix

This is a cloud-based property management and accounting software built for apartment landlords. It is also good for complexes and multi-family unit management and accounting.

If you are looking for easy-to-use accounting software for landlords, then Property matric is the right option for you. It combines an awesome list of features and automatic capabilities to give you the best experience.

Pricing

Property matric pricing plans include;
Standard plan: $400 per month for 250 units.
Property matric Pro: $475 per month for 250 units
Enterprise plan: $1200 per month for 800 units
It does not offer a free trial, but you can schedule a demo. There is a 30-day money-back guarantee for every plan you buy.

We recommend you the standard as it is a good fit for small and medium-sized units and a good value for your money.

Features

It facilitates online payments through credit cards.
You can easily scan and store documents.
You can also easily add signatures to these documents.
You will get to easily customize reports, fields, and labels.
It features multi-theme support.
You will get to have access to a lot of eBooks and other resources to keep you at the top of your accounting and management.
Compatible with mobile.

Why Do We Recommend Property Matrix?

We recommend Property matric because of its user-friendly, easy-to-use interface and software and lots of customizable features. Property matrix boosts of over 150 features. Isn’t that nice?

It facilitates easy communication between you and real estate agents, tenants, etc., and you also get to have access to a quality filled-blog.

Last Tip

Landlords face a lot of accounting and management tasks. You could utilize the effectiveness of accounting software to help your goals and optimize your efforts to be at the top of your accounting and management. However, it also will be great for you to use good accounting software designed to fit landlords and not just any accounting software.

Hence in this post, we have listed the top best accounting software for landlords. It includes Appfolio, Rentec direct, Stessa, Buildium, Rent manager, and Property matrix. Those accounting software are the best for property managing, trust accounting, marketing, etc., for housing units.

Our last tip for you should be to make the best selection of which amongst these best software would be the right option for you as a landlord. Also, make sure that you have some form of a filing system. Though most of these options offer online filing, if the right option you chose does not, invest in Dropbox and make good arrangements if your files in there, so you can easily access your documents even on the go.

While this best accounting software gets you the best out of your work, always review your performance, then stay cozy and enjoy yourself as they do most of the work for you!