All Forum Posts by: Jasmine Delves

There are lots of great property management software options out there that have rent collection features built into them. I'd recommend this over cash apps like Zelle and Venmo as you can block partial payments. Linking your bank feeds through a PM app will also allow you to streamline your income and expense tracking and accounting. 

In person conversations can be insightful but the hard facts (credit score, eviction history, criminal history, tenant income, etc.) are more important.

As others have said, there are endless options out there. 

I'd suggest software that has integration with general accounting programs (like Xero or QuickBooks). That way, the PM can take advantage of all of the industry-specific features they need like online rent collection and tenant screening, and you as a bookkeeper can be sure that the numbers all sync properly with the software you use.

Also take a look at all-in-one property management software. It will allow you to do your rental accounting, collect rent online, screen tenants, create listings, etc. from the same program (rather than balancing and paying for multiple apps). 

TransUnion's SmartMove is great for tenant screening (criminal history, credit score, eviction history, etc). As for apps, I'd make sure you use one that has tenant screening and rental accounting features built in (for some of them, you have to pay extra).

The right one will also allow you to collect rent online, automate late fees, link your bank feeds, and more.

It's worth looking into property management software that has an accounting focus. It will allow you to track your income and expenses, scan and store receipts, link your bank feed and generate industry-specific reports. 

The benefit of using something like this over QuickBooks, for example, is that you can also take advantage of other property management features like rent collection and tenant screening. You also only have to use one software, instead of juggling multiple programs.

Zillow is good on the listings front but lacks rental accounting features, so that's something to consider. There are apps that have tenant screening, listings, rent collection AND accounting, all in one. It really depends on your priorities though and what features you are looking for. 

This is steep considering there are a number of PM software out there that have built-in accounting features (at no extra cost).

Property management software is a great solution if you have the capacity to self-manage. 

That way, you can keep on top of your accounting (some apps are even integrated with Xero or Quickbooks) as well as online rent collection, tenant screening, etc. You can also automate things like late rent payments and tenant communications. 

There are lots of great property management software options available now that will allow you to self-manage with ease. If you have the capacity to do this, you can obviously save some money that way. Of course the payoff is the time that you need to dedicate to looking after everything.

With that being said, the ability to manage your accounting on the go, collect rent online, screen tenants, etc. all from an app is convenient!