Accounting for rental property software? Excel?

Question

Hi All,

Im a new landlord and an wondering the best way to record the rent, expenses etc for accounting and record keeping.

Any suggestions? Do you use excel, or is there a specific software program specifically for rental property?

Hope you can help

Clint G. · Answer

@Vincent Quad

I only have one property and just use a spreadsheet right now it's easy to manage. You can Google "rental property spreadsheet" to get some ideas, then customize it how you like.

Ashley Kehr · Answer

Hi Vincent. If you just have a couple units excel would work fine. You could also use quickbooks. I use buildium which is a fully integrated property management software. It tracks income and expenses plus tenants can pay online and submit maintenance requests. Very user friendly. There is a minimum monthly fee and doesn't make sense if you only have a few doors.

Hideyuki Gojima · Answer

@Vincent Quad

If you are managing a few properties, excel should be enough. Most of property management softwares cover what you have to do as a landlord but some of the property management softwares are built to manage large properties. You should find the right fit for your needs.

If you prefer separate softwares for each item, here is a little list that independent real estate owners use.

Document storage : Google drive, Dropbox, Box

Rent payment : Cozy, Zelle, Rentpaymen.com, Clickpay

Accounting : Quickbooks, Freshbooks, Xero

Alex S. · Answer

https://www.avail.co/i/Nezd

Tim Haenn · Answer

I strongly recommend Stessa as it's free, links up to your bank accounts (much like Mint) and allows transactions to be classified. It uses those transactions to produce 4 different financial statements.

Milan Mehta · Answer

@Vincent Quad

Cozy.co is a good online payment website to use when you dont have alot of units.  Its free for landlords.

Accounting for rental property software? Excel?

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