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The Best Accounting Software for Landlords in 2023

best accounting software for landlords

As a landlord, you may have to juggle various tasks daily. The responsibilities are numerous, from advertising properties and screening tenants to managing repairs and collecting rent. Managing a rental property can be challenging, and keeping track of finances can add even more stress to the job.

That’s where accounting software for landlords can make a significant difference. However, with so many accounting software options on the market, choosing the right one for your business can take time and effort. 

You need to consider factors such as pricing, features, ease of use, and customer service. So we’ve researched to help you find the best accounting software for landlords in 2023.

The Best Accounting Software for Landlords in 2023

As a landlord, managing your rental properties can be time-consuming and complex. Between tenant communication, property maintenance, and rent collection, keeping track of your finances can easily fall by the wayside. 

Accounting software is a computer program that helps bookkeepers and digital accountants record and report a company’s financial transactions. The features of accounting software can vary from one product to another. In larger companies, they often choose to use a customized solution that can efficiently handle a vast amount of data from multiple departments.

The good news is that accounting software solutions are available specifically designed to help landlords keep their finances in order. Here we have covered the nine best accounting software for landlords in 2023.

AppFolio: 

In 2023, the top accounting software for landlords is AppFolio. It’s an all-in-one online solution that includes various features such as online payment options, portals for tenants and property owners, maintenance tracking, accounting, and reporting. The software’s user-friendly interface allows landlords to manage multiple properties and units efficiently. 

However, AppFolio has some drawbacks, such as its relatively high cost and limited options for customization.

Here are some key points to consider:

  • Best Overall accounting software for landlords
  • Provides automated accounting and reporting
  • Offers payment processing and tenant screening
  • Allows for online rent payment and lease management
  • Provides mobile app access for landlords and tenants

Rentec Direct:

Rentec Direct is the best accounting software for landlords with multiple users. Its robust features include tenant and owner portals, property management, accounting, reporting, and automated rent payments. Rentec Direct’s competitive pricing is suitable for small and mid-sized landlords. One downside of Rentec Direct is that its user interface can be challenging for some users. 

Here are some key points to consider:

  • Best for Multiple Users accounting software for landlords
  • Allows access for multiple users with customizable permissions
  • Provides financial tracking and reporting
  • Offers tenant screening, rent payment, and maintenance tracking
  • Offers a mobile app for landlords and tenants

Buildium: 

Buildium is the best accounting software for landlords with extensive property portfolios. It offers features such as automated rent collection, maintenance tracking, tenant and owner portals, and accounting. Buildium’s user-friendly interface allows landlords to manage multiple properties and units easily. However, Buildium’s pricing can be high for some users.

Here are some key points to consider:

  • Best for Large Property Portfolios accounting software for landlords
  • Provides automated accounting and reporting
  • Offers payment processing and tenant screening
  • Allows for online rent payment and lease management
  • Provides mobile app access for landlords and tenants

Rent Manager: 

Rent Manager is a dedicated rental property management software offering robust features, including automated rent collection, tenant and owner portals, maintenance tracking, and accounting. 

Rent Manager’s user interface is highly customizable, making it a good choice for landlords who want a personalized experience. One downside of Rent Manager is that its pricing can be high for some users. 

Here are some key points to consider:

  • Best Collection of Integrations accounting software for landlords
  • Offers customizable reporting and field options
  • Provides automated payment reminders
  • Offers a mobile app for landlords and tenants

QuickBooks: 

QuickBooks is a widely-used accounting software that provides a comprehensive solution for landlords who want to manage their finances. It offers a range of features, including invoicing, expense tracking, time tracking, reporting, and inventory management. 

QuickBooks’ integration with other products, such as TurboTax, landlords can easily manage their taxes and other financial obligations. 

This software is an excellent choice for landlords who want an all-in-one solution for managing their rental properties. However, there may be more affordable options for landlords on a tight budget.

Here are some key points to consider:

  • Integration with other products, such as TurboTax
  • Ability to handle multiple properties and tenants
  • Mobile app for on-the-go management
  • Customizable invoices and reports
  • Strong security and data backup features.

Zoho Books: 

Zoho Books is the best accounting software for landlords who want cloud-based accounting features. It offers expense tracking, invoicing, payment processing, and reporting features. Zoho Books’ integration with other Zoho products, such as CRM and inventory management, makes it a good choice for landlords who want an all-in-one solution. 

One downside of Zoho Books is that they may need to be more suitable for more extensive property portfolios. 

Here are some key points to consider:

  • Best for Real Estate Useful Integrations accounting software for landlords
  • Offers real estate-specific integrations
  • Provides financial tracking and reporting
  • Allows for online rent payment and lease management
  • Offers a mobile app for landlords and tenants

DoorLoop: 

DoorLoop is software that helps landlords manage their rental properties. It has many valuable features, such as tools for tracking maintenance and collecting rent automatically. It also includes an accounting function. 

DoorLoop is known for its excellent customer support, which can be helpful if landlords have questions or issues. However, landlords may have better choices with many properties to manage.

Here are some key points to consider:

  • Here are some bullet points outlining what DoorLoop is best for overall:
  • Full-service rental property accounting software
  • Offers tenant and owner portals for accessible communication
  • Automates rent collection and tracks maintenance requests
  • Includes an accounting function for financial management
  • Highly rated customer support to help landlords with any questions or issues
  • Suitable for landlords with a smaller number of properties to manage

FreshBooks: 

FreshBooks is popular accounting software for landlords. The software has a user-friendly interface that makes it easy for landlords to navigate and use. FreshBooks is also affordable, making it an excellent choice for small landlords who want to manage their finances without breaking the bank. However, landlords with more extensive property portfolios may find better options than FreshBooks.

Here are some key points to consider:

  • User-friendly interface for easy navigation and use
  • An affordable option for small landlords
  • Not suitable for more extensive property portfolios

Steesa: 

Steesa is considered the best overall accounting software for landlords. It offers a variety of features to help landlords manage their finances, including automated rent collection, invoicing, expense tracking, and reporting. The software has a user-friendly interface that makes it easy for landlords to manage their finances. 

Steesa’s pricing is also competitive, which is a plus for landlords on a budget. However, landlords with more extensive property portfolios may find that there are better fits for their needs than Steesa.

Here are some key points to consider:

  • Top Free accounting software for landlords
  • Provides financial tracking and reporting
  • Offers expense tracking and management
  • Provides a mobile app for landlords

What Does Accounting Software for Landlords Do?

Accounting software for landlords is an essential tool that manages bookkeeping tasks, records rent payments, and handle expenses. Such software has features that help landlords manage their financial data, organize receipts, and prepare financial reports. 

Let’s look at what this software can do for landlords:

Record Keeping

One of the primary functions of accounting software for landlords is record-keeping. By recording every financial transaction, landlords can ensure their records are accurate and up-to-date. Additionally, landlords can use this feature to create a detailed history of each tenant’s payments and expenses. 

Expense Tracking

Landlords can use accounting software to track expenses, such as maintenance, repairs, property management fees, and advertising costs. They can categories their expenses and quickly generate reports to see how much they have spent on each category. Landlords can also use this feature to set budgets and monitor costs to ensure they spend appropriately. 

Rent Collection

Another critical feature of accounting software for landlords is the ability to collect rent payments electronically. This feature streamlines the rent collection process by allowing tenants to pay rent online using their credit or debit card. By automating the rent collection process, landlords can avoid errors and save time. 

Plus, tenants appreciate the convenience of paying rent online, which can lead to higher tenant satisfaction and retention rates. 

Tax Preparation

Landlords can use accounting software to simplify their tax preparation process. Such software generates financial reports and provides landlords with accurate financial data. It can automatically calculate depreciation and create reports such as income statements and balance sheets. 

By using the software to keep track of financial data throughout the year, landlords can avoid the stress of scrambling to gather financial documents during tax season. They can use the software to generate reports for their accountant, making the tax preparation process even more accessible.

FAQ for Best Accounting Software for Landlords

Can QuickBooks be used for landlords?

Yeah. you can use QuickBooks for Landlords.

What software will an accountant use the most?

Top 10 Accounting Software
  • QuickBooks Online.
  • Desktop Pro.
  • SAP S/4HANA Cloud.
  • QuickBooks Online Advanced.
  • Intuit QuickBooks.
  • BlackLine Financial Close Management.
  • Oracle ERP Cloud.
  • Xero.

What is the Best Accounting Software for Landlords UK use?

Most of Landlords use QuickBooks in UK.

Is Xero used in the UK?

Xero is one of the fastest-growing SaaS companies globally. Xero’s mission was to transform the landscape for small businesses. It has since become a prominent leader in cloud accounting across New Zealand, Australia, and the United Kingdom.

What is the easiest accounting software to use in UK?

FreshBooks is the easiest accounting software to use in UK.

Conclusion

Accounting software for landlords can save landlords time and give them insight into their real estate portfolio’s financial health. We have researched and compared the best accounting software options for landlords in 2023, considering pricing, features, convenience, and customer service.

Our top picks include AppFolio, Rentec Direct, and Buildium for their versatile features, ease of use, and customer support. Zoho Books and DoorLoop are also excellent options for landlords on a budget or with smaller portfolios.

For all your accounting needs, including rental property management and taxes, ABM Chartered Certified Accountants are here to help. We understand the importance of accurate bookkeeping and accounting for your rental property. 

Whether you’re using QuickBooks, FreshBooks, or another software, we can guide and support your financial management.

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