Accounting Software to manage Rental Properties

Personal Finance
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Accounting Software to manage Rental Properties

Ronald Buzzetta
Member since 2024 · 1 post · 2 votes

Hi - I need to purchase an accounting software to manage rental properties. My accountant recommended Quickbooks. Any other recommendations out there that may be better/easier to use? 

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Jake BakerBusiness Member
Flipper/Rehabber · San Diego, CA · Member since 2020 · 1k+ posts · 696 votes
2y

@Ronald Buzzetta

I use QuickBooks Online for all of my clients. For most real estate investors, a Plus subscription is needed. It is the most popular software in the industry and all CPAs know how to navigate it which is nice.

How many properties do you have? Sometimes smaller portfolios don't need software like QBO

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  • Melanie P.Pro Member
    Rental Property Investor · Member since 2023 · 1k+ posts · 922 votes
    2y

    We use Yardi. It has two main competitors that I know of Appfolio and Buildium. Check them out and pick a favorite. They manage every aspect of your rentals not just accounting. 

    1Reply
  • Josh St LaurentBusiness Member
    Financial Advisor · Stateline, NV · Member since 2023 · 131 posts · 122 votes
    2y

    Here are a few of the most popular.  Ultimately it is going to boil down to personal preference and what types of rentals you have (As well as how many).

    DoorLoop
    Stessa
    Landlord Studio
    Rent Manager
    And of course the tried and true - QuickBooks


    Any of these will work for simple accounting/bookkeeping but some will excel depending on if you have short term rentals vs long or a lot of properties.

    [email protected]415-915-5948
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  • Jake BakerBusiness Member
    Flipper/Rehabber · San Diego, CA · Member since 2020 · 1k+ posts · 696 votes
    2y

    @Ronald Buzzetta

    I use QuickBooks Online for all of my clients. For most real estate investors, a Plus subscription is needed. It is the most popular software in the industry and all CPAs know how to navigate it which is nice.

    How many properties do you have? Sometimes smaller portfolios don't need software like QBO

    [email protected]
    BookkeepingRE - Bookkeeping for Real Estate & Service-Based Businesses52 Reviews
    WebsiteView Page
    2Reply
  • Tom Server
    Member since 2023 · 118 posts · 26 votes
    2y

     Which would work best for 1unit with 3 doors ?

    0Reply
  • Josh St LaurentBusiness Member
    Financial Advisor · Stateline, NV · Member since 2023 · 131 posts · 122 votes
    2y
    Quote from @Tom Server:

     Which would work best for 1unit with 3 doors ?


     Any would work, it's just going to come down to personal preference as well as what is preferred by your CPA.

    [email protected]415-915-5948
    Wealth In Yourself57 Reviews
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  • Jamie Banks
    Real Estate Consultant · Reston, VA · Member since 2022 · 513 posts · 522 votes
    2y

    Baselane is a bookkeeping software that is designed for landlords, I've been using it over a year and it's helped me stay organized as my portfolio has grown. The bookkeeping software is currently free of charge and connects to other banks / credit cards or you can choose to bank with them, which is what I'm doing. 

    1Reply
  • Soh Tanaka
    Property Manager · Lindenhurst, IL · Member since 2016 · 854 posts · 506 votes
    2y

    It's important to know that some software is made for property managers (those who manage other people's properties,) some are made for landlords (those who manage their own properties,) some are made for accounting (which can be used by both property managers and landlords.)

    I do use QuickBooks, and I'm NOT saying not to use it, but know that there is some initial learning curve that you have to go through.

    1Reply
  • Dee Mandrekar
    Member since 2023 · 33 posts · 7 votes
    2y

    any program or training available to learn how to use Quickbooks? I am LL and want to manage my own properties

    1Reply
  • Andrew SyriosPro Member
    Moderator
    Residential Real Estate Investor · Kansas City, MO · Member since 2014 · 10k+ posts · 5k+ votes
    2y

    Quickbooks is good although I would definitely prefer to have my accounting software be the same platform as our property management software. RentManager has a really good accounting module, so if you use RentManager, I don't think there's a need for a separate accounting program. I've heard Appfolio is pretty good too but have never tried it. 

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  • Soh Tanaka
    Property Manager · Lindenhurst, IL · Member since 2016 · 854 posts · 506 votes
    2y

    @Dee Mandrekar I used different things to learn. One of the things you can do is to watch YouTube videos. I personally like "the quickbooksdude," "Hector Garcia CPA," and "Income Digs."

    0Reply
  • Basit SiddiqiBusiness Member
    Accountant · New York, NY · Member since 2015 · 8k+ posts · 4k+ votes
    2y

    If you are doing this for your personal properties, I would consider Quickbooks or Stessa.

    [email protected]917-280-8544
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