Best Tax Software for rental properties

[Robert Paul]

Hello, firt post here! 

Im just starting out with real estate investing and was wondering whats the most recommended software that can do eveyrthign from leasing to collecting rents and generating income and balance sheets? 

I saw buildium as one option. 

We will not be using the PM and will rather have our own team leveraged from our other business. I know Quckbooks very well but dont see how it can do the rental properties since it will be a pain to track each property independently. So looking for some recommendations here...! 

Also, will the same software work well for the flips as well? 

Thanks in advance :)

[Vicki X.]

Quote from @Account Closed:

Quote from @Robert Paul:

Hello, firt post here! 

Im just starting out with real estate investing and was wondering whats the most recommended software that can do eveyrthign from leasing to collecting rents and generating income and balance sheets? 

I saw buildium as one option. 

We will not be using the PM and will rather have our own team leveraged from our other business. I know Quckbooks very well but dont see how it can do the rental properties since it will be a pain to track each property independently. So looking for some recommendations here...! 

Also, will the same software work well for the flips as well? 

Thanks in advance :)

Hi Robert,

Here is an article I like to share as it lists options based on the number of properties:

https://www.biggerpockets.com/...

The article hasn't been updated so please keep in mind:
In the Small Investor section, Cozy is now Apartments.com and Azibo is not listed as an option.  (We are using Azibo to track income and expenses)

In the Medium section, Buildium is not listed as that is a good product once you have 50 or more doors.

 Hi Arthur,

Thanks for the mentioning, and for using Azibo! I hope you like it.
I agree that Buildium is a tool for property managers or large investors. 

Here's my summary:

- Property managers or investors with a larger portfolio: Buildium, Doorloop (complete feature set, accounting included, but you'll be paying good amount of fees every month)

- Rental accounting tools: Azibo, Stessa, REIHub

- General accounting tools: Quickbooks, Xero, Quicken (primarily for personal use)

Several other software also list accounting as an offering, but they either link you to REIHub, which isn't a great experience, or only provide manual transaction input and tracking, which is nicer but not much more scalable than spreadsheets.

Hope it helps! DM me if you'd like to learn more