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Canadian Real Estate

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Alex Cons
  • Specialist
  • Prince George, British Columbia
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Best accounting software to track rental property income/expenses

Alex Cons
  • Specialist
  • Prince George, British Columbia
Posted Jan 28 2018, 19:57

Hey BP, 

Tax season is right around the corner and another year went by that I did not track my bills! I would like to find a software that I could start using that will help me track my real estate income and expenses. 

I self manage my own units and I want to set up good tracking habits early on with a few rental units so that I can scale in the future. I would like a software that I could also use on my smart phone and under $15 a month. 

Any suggestions that are real estate friendly?

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Basit Siddiqi
Pro Member
  • Accountant
  • New York, NY
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Basit Siddiqi
Pro Member
  • Accountant
  • New York, NY
Replied Jun 29 2023, 10:31

There are two types of 'accounting programs' for real estate investors.

Stand-alone accounting software - I.E. Quickbooks, Xero, Quicken - Better suited for those with PM Companies managing their rentals and/or self-manage and use another software for PM functions or if you want/need a PM Software.

Accounting software with property management functions - Better suited for those that self manage.

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Greg Classen
  • Berlin, Berlin
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Greg Classen
  • Berlin, Berlin
Replied Sep 22 2023, 00:56

Hello all,

I researched many Rental property accounting softwares before settling on Rental Hero (Rentalhero.io). I can honestly say it has saved my life as far as monthly reporting of my rental properties. Its ease of use and customer service are the main reasons I have continued using their service  since 2021. Customer service response time is truly refreshing, as all matters are tended to in fair time. Another plus is being able to attach invoices or rental contracts directly on the platform. These are a few of the many positives of Rental hero. two thumbs up from me.

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Greg Classen
  • Berlin, Berlin
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Greg Classen
  • Berlin, Berlin
Replied Sep 22 2023, 03:03

Dear BP world 🌍, 

I just want to chime in and let you all know that I have found an amazing Rental Property Accounting software and just a great way to have all your rental info in one place real time… including rental contracts, invoices, tenant info etc. On top of this….customer services is reliable and prompt. Fair transparent pricing as well. For these reasons I’ve been happily using Rental Hero (Rentalhero.io) since 2021. Highly recommended 👍👍

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Replied Oct 23 2023, 06:11

I live and die by Rental Hero. I've been using this software for years for my rentals and it's the best. My tax accountant loves it, too. I don't think I can do anything else now. Rental Hero is so user friendly and so easy! Nice reporting features. Highly Recommend!

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Replied Dec 17 2023, 08:31

I’ve used Rental Hero @rentalhero.io for going on three years now for my accounting. It’s very detailed with each property as well as categorizing costs so that I know where money is spent and where improvements are needed.

When it comes to taxes, I just download my Rental Hero breakdown and email it to my tax planner.
Did I mention that’s it’s very affordable at $119.00 a year with great customer service if you have any questions about it’s functionality.

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Replied Dec 17 2023, 19:04
Quote from @Cathy Bell:

I live and die by Rental Hero. I've been using this software for years for my rentals and it's the best. My tax accountant loves it, too. I don't think I can do anything else now. Rental Hero is so user friendly and so easy! Nice reporting features. Highly Recommend!

This sounds like a commercial on TV :)

Never heard of this software and also a little sketch that this post is from 6 years ago. This may have been the top solution 6 years ago -> top software for real estate investors doing this now Quickbooks, Digb, and Stessa.

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Replied Mar 29 2024, 22:53

I've been using Rental Hero to manage 6 properties and it's been extremely easy to use and satisfies all my needs. Pretty reasonable price to pay instead of doing it all myself in spreadsheets. Also, there's an easy P&L export feature I can use to provide my accountant everything he needs.