10 Best Real Estate Investment Accounting Software Tools for Bookkeeping and Tax Management

Real Estate Bees’ editorial team asked a number of industry-leading real estate investors to share their expertise on the best accounting software tools for real estate investors to help our readers make a more educated purchase decision when researching available solutions.

With the help of the experts, we identified the best accounting software apps for real estate investing business and evaluated them based on critical factors that are important for real estate investors. Visiting retailers of the listed products by clicking links within our content may earn us commissions from your purchases, but we never receive any compensation for the inclusion of products and/or services in our consumer guides. Read our editorial guidelines to learn more about our review and rating process.

— Kimberly Anderson, Senior Creative Editor at Real Estate Bees

Best Real Estate Investment Accounting Software

In the course of this article, we will discuss the best real estate investment accounting software for professionals who want to avoid errors and save their time on math and bookkeeping.

We will also answer some of the most frequently asked questions related to accounting software for real estate investors.

Read on to learn more about the top-rated products.

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Baselane is a free financial and banking platform for independent landlords to manage their rental property business, which launched in September 2021.

In March 2021, they launched landlord banking in partnership with Blue Ridge Bank, N.A.

By connecting banking and online rent collection, individual landlords are able to simplify their finances and integrate other functionality such as bookkeeping, reporting and analytics

Baselane Banking allows you to auto-tag specific transactions to a particular unit or property and generates smart debit cards to manage expenses.

This auto-tag feature will help you get organized, by tracking cash flow at the property level, and will make tax time easier.

Their roadmap includes adding integrated Tenant screening and Lease creation, Tenant management tools, as well as embedded financial products to save landlords and investors time and money (e.g. loan, insurance).

Baselane was founded by Thorben Scheidger and Mathias Korder, two former Boston Consulting Group employees who identified a need for a vertically-focused financial platform for landlords.

Check out the full Baselane review and watch a full video walkthrough of the product.

Features

1. Baselane Banking virtual accounts (like envelopes) help you stay organized.
2. Virtual bank cards for property expenses.
3. One-click bookkeeping with instant insights into revenue and expenses.
4. Automated rent collection via debit/credit cards, or ACH.
5. Property performance metrics.
6. Banking with high yield interest rates 4.25% APY and 5% cash back on home improvement (up to $5,000 in spend per year) and unlimited 1% cash back on all other debit card spend.

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REsimpli is an all-in-one real estate investor CRM that also has comprehensive financial tracking and management platform for real estate investors, particularly those focusing on fix and flip projects, which launched in 2016.

By connecting financial tracking with marketing expense management, real estate investors can optimize their strategies and improve their profitability.

REsimpli’s platform allows you to categorize transactions, manage documents, and analyze income statements for better financial insights.

This in-depth analysis feature will help you stay organized, make informed decisions, and streamline your tax preparation process.

Their roadmap includes adding features for tracking estimated expected revenue, partnerships with trained bookkeepers, and resources for learning and support.

REsimpli was founded by Sharad, a seasoned real estate investor and entrepreneur who identified a need for a specialized financial platform for investors in the fix and flip market.

Check out the full REsimpli review and watch a full video walkthrough of the product.

Features

1. Financial tracking system for different types of real estate investors
2. Integration with banks
3. Document management for transactions
4. In-depth marketing expense tracking
5. Customizable income statement categorization
6. Focus on tracking net profit
7. Upcoming feature for estimated expected revenue tracking
8. Resources and training for software usage

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Stessa is a 100% free real estate financial software that could work for those landlords who are a little tight on money.

The company’s motive is to offer powerful financial tools to its investors at the lowest cost possible.

Some of the company’s services are chargeable though, like rent analysis, market research, and mortgage financing.

Many landlords consider Stessa the best software when it comes to the value of money.

The platform’s free plan provides all the basic features that are needed by rental investors for managing rental property remotely.

The creators of Stessa have made the tracking of real estate investments pretty simple. It offers end-to-end solutions all in one place.

The platform was founded in 2016 to help investors monitor their real estate assets effectively.

It also has a mobile application which means you can access all your data with just a few clicks from almost anywhere.

The user interface of Stessa is very simple so that people with limited accounting knowledge can also use it without any hassle.

This long-term and vacation rental tax software has a number of features that makes it convenient for landlords who want to manage their rental properties by concentrating on key metrics.

These include the following:

• you can track unlimited properties
• easy access to your portfolio from anywhere
• get performance insights of the portfolio of your properties
• collaborate with family, friends, and partners
• automated tracking of income and expenses
• secured and encrypted to protect your data
• documents are stored in an organized manner
• run unlimited monthly tax reports
• send and export tax-ready financial documents

These and other features of this tool are described in more detail in our Stessa review.

Currently integrated with another software called AppFolio, Stessa is perfect for rookie investors.

There’s only one problem with Stessa: it is not sufficient for enterprise-level users.

Therefore, you may have to look for other options on the list if your business is too big for it.

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Landlord Studio is one of the best accounting software tools for real estate investors because of its simplified solutions that make rental accounting very easy for landlords.

With the help of this property management accounting tool, landlords can easily manage their financial transactions and track their income and expenses.

The platform allows you to automate all your transactions and records related to rental properties.

It makes your job easier, faster, and more accurate. Anybody with minimal accounting knowledge can make use of Landlord Studio to keep track of their rental payments.

The platform offers a number of features to its customers so that they can have access to every element under one roof.  We discus them in more detail in our dedicated Landlord Studio review.

Connect Bank Feeds

You can connect the platform with your real estate investor bank account to directly view and reconcile bank transactions.

The platform offers maximum security and encryption whilst tracking your transactions.

Generate Professional Accounting Reports

You have access to accurate reports that are approved by their accountants. These reports reflect the performance of your portfolio and make your tax filing process faster and simpler than ever.

The cherry on the cake is that these reports are customizable to a great extent.

You can filter them out based on payments, date range, unit, property, expense categories, and so on.

There are also 15+ designs available for landlords. All your time that goes into Excel can be saved now!

Share Reports Directly with Your Accountant

The mobile application allows you to generate a report of your operations so that you can send it to your real estate investment accountant directly.

With the help of the organized tax reports, your accountant will also be relieved.

Automated Rent Collection Online

The tool functions as an automatic landlord rent payment app. No more red marks on your payments! With everything automated, missing deadlines is a thing of the past for you.

It is easier for your tenants to pay rent directly into your account in a secured manner.

Purpose-Built Tenant Screening Software

Looking for tenants with a clean background history? Landlord Studio allows you to access screening reports that include renting history and background checks of prospective tenants.

In just three simple steps, you can find the perfect tenant for your rental property.

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Buildium is one of the most sought-after accounting and bookkeeping software tools for landlords because of its flexibility and a huge number of features.

The platform allows you to manage more than just properties. It is a complete solution for all your needs related to the maintenance of rental properties.

Think of it like this: you are swamped with work and have many things to do. Amidst all the chaos, you forget to record one or two entries and there goes the dream of you filing a perfect tax report.

It is where Buildium steps in and allows you to have access to all financial and other records pertaining to your rental properties.

Wherever you are and whatever you are doing, you can approve and inspect everything from anywhere.

Buildium has emerged as one of the best accounting software apps for large property portfolios.

The company offers three plans, and you can choose one based on your needs and financial situation.

The plans are: Essential, Growth, and Premium.

The more units you have to manage, the pricier plan you will need.

For people with large rental properties, Buildium offers its services for up to 5000 units.

We describe all features of this tool in detail in our Buildium review. Bu below is a quick rundown of them.

Owner Portal

It connects everyone by sharing insights and reports which leads to minimum phone calls and emails.

The owner portal of Buildium comes with a number of benefits for landlords. These are:

• collecting payments online
• sending financial reports in real-time
• sharing documents like receipts and leases
• streamlined communication

Property Accounting

With Buildium, you don’t miss out on any transaction. It is a great way to keep your bookkeeping intact and accurate. Some of the things that fall under property accounting are:

• managing accounts payable by setting up automatic payments
• monitoring every transaction with ease
• reconciling bank accounts

Renters Insurance

You can protect the interests of your tenants by giving them access to renters insurance.

Here’s what Buildium has to offer:

• fully integrated renters insurance solutions
• affordable options
• staying informed by tracking compliance

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Rentec Direct is most suitable for team users as it provides the option for multi-user account holders, unlike other companies.

Users can create a separate profile for themselves with a unique name, password, and assign the permission level at no additional fee.

The platform also offers a free plan that consists of basic features essential for property handling.

Any landlord can use this package for up to 10 properties. But if someone has more properties to manage, they can choose the advanced plans that come with more intricate features.

With the help of these features, you can get detailed insights into your property management.

Some of the features of Rentec Direct are listed below.

Accounting

The platform provides you with all the necessary tools that you need to track your transactions and helps you engage in healthy accounting practices.

It offers:

• online tenant payments via credit cards or ACH
• full ledger accounting for tenants, owners, and properties
• an extremely tight and robust reporting system
• built-in 1099-MISC e-filing tax system
• certified software that works in compliance with your state’s real estate board

Operations

Apart from all the accounting tools, you also get access to a number of other features such as:

• free professional website so that you can promote your listings online
• creation and storage of customer forms where electronic signatures will be accepted
• storage of important documents of tenants and owners in the file library
• setup of unlimited user accounts so that you and your team can access this property management software system from anywhere securely

On top of all the features Rentec Direct provides, you can also engage in a 14-day trial to check the compatibility of your business with the software.

It is a powerful and one of the best property management software tools for landlords or property managers that combines all the essential features that a real estate investor needs, to run operations smoothly.

All of the platform’s features are well-integrated so that you find everything under one umbrella.

All the real estate investment tools offered by the company are highly customizable so that you pay only for those features that you wish to use in the long run.

The platform is ideal for rental properties of all sizes which makes it efficient and suitable for everyone.

Although the platform does not have any set pricing plans for its customers, one can always ask for a quote from the company officials who are available for instant phone and chat support.

You simply have to send in the features you want in the software and you will get the exact cost in no time!

Since the platform also comes with a mobile application, it helps landlords to manage their business even when they do not have their laptop or PC around.

You can process e-checks and e-payments, make e-bank reconciliations, create custom reports, and control each aspect of accounts receivable and payable, all from one place.

Since the platform functions in both cash and accrual accounting at the same time, your time is saved, and you don’t need to spend it on intense bookkeeping.

Some of the features that Rent Manager offers are:

• report automation as well as custom reports
• financial reports and insights
• analyzed budget reports
• fundamental financial statements
• convenient tax tools
• excellent customer service with several communication tools
• constant support and maintenance
• bank deposits are recorded religiously
• manage account payables

AppFolio is one of the most technologically advanced software tools that helps real estate investors to keep track of all their rental transactions, even remotely.

The platform offers several plans (depending upon your needs and financial situation) that contain different features.

If you have the budget and knowledge, you can choose the most premium plan and enjoy the benefits that come with it.

At AppFolio, you can fill out the online form, and soon you will be contacted by a salesperson who will guide you through a demo session.

With the help of this free demo, you can evaluate the features and gain an understanding of what’s important and what’s not, for your business.

The platform charges an onboarding fee starting from $400 and a monthly fee ranging between $250 – $1,500 which depends upon the plan you choose.

You can also choose less expensive plans and get one or two add-ons for a certain amount.

People who have more than 200 units to manage may consider AppFolio the best real estate investment tax accounting software.

AppFolio has more benefits than most other software on the market right now.

It is known for its high-quality marketing tools, exceptional lease management support, and seamless communication functions.

Let’s take a quick look at the features of AppFolio:

• Exceptional communication tools including owner online portal, centralized communication options, shared folders and documents, easy export of reports, and so on.
• Ease of accounting as it allows smart bill entry, automated accounts payable, real-time reporting, generating performance insights every now and then, etc.
• With the help of AI-driven maintenance software, you can access online maintenance workflows, pay vendors online, and intelligently manage requests that come in through online portals, among many others.

Property Matrix is a residential and commercial property management tool. It’s loved by experienced accountants because it is extremely customizable. The platform allows you to twist and alter every feature according to your specific need.

Packed with all the basic and advanced accounting and assisting features, it is a treat for expert users.

The platform offers three pricing packages – Standard, Property Matrix Pro, and Enterprise.

The Standard plan is available at $400 for up to 250 units and $1.50 each for additional units.

The most significant features of this plan are custom reports, maintenance, marketing tools, enterprise accounting, and phone support.

The Property Matrix Pro plan starts at $475 per month and allows the same number of units as the Standard plan – 250 and $1.50 each for additional units.

The plan includes specialized commercial real estate tools, budget reports, and all the Standard features.

Enterprise is priced at $1,200 and allows up to 800 units with $1.35 for each additional unit. The plan contains all the features of Property Matrix Pro including common area management charges.

Due to its complex and advanced features that are rarely found in other real estate investing accounting software, it is highly sought-after.

Everything that you require for maintaining your rental property can be found on this platform.

In general, the users of the Property Matrix platform can do the following:

• Generate recurring automated invoices and bills for tenants.
• Organize and track financial transactions.
• Manage multiple users and companies.
• Automate routine actions.
• Manage documents stored in one single system.
• Take electronic signatures.
• Make use of a professionally designed website.

MRI Software is probably the oldest company on this list of the best bookkeeping software for real estate investors.

The platform has 175+ solution partners and 25+ consulting partners. MRI has simplified the whole accounting process by partnering with 200+ companies.

Each is designed to offer a financial solution to your rental property problems by helping you meet your desired requirements to the fullest.

MRI does not offer a specific pricing or any free trial. It is because you can customize over 175 integrations of your choice.

The company offers a host of features making it highly reputable and popular. Some of these features are:

• maintenance requests
• online rent collection
• tenant screening
• renters insurance
• investor relations
• compliance solutions
• rent tracking
• resident communication
• credit risk management
• account payable automation
• electronic payments

Customers who like to personalize their experience prefer MRI Software over other companies.

Since they are able to optimize the features according to their unique needs, they find it very flexible to use.

Since the company has been in the market since 1971, it is highly reputed and reliable for daily accounting use across several industries.

It is important to weigh a number of aspects before deciding on the best accounting software for rental properties.

You are going to need software with a number of features at an affordable monthly fee to make maximum use of it in the desired manner.

After reviewing dozens of accounting software programs, we chose the names that are displayed in this article.

Most of the software specializes in one or another segment so that you are presented with a variety of options to choose from.

We had a strong screening process before including any company in our list of the best real estate investing accounting software apps.

The following factors were considered by us before preparing this list:

• rent payment
• minimum fee requirements
• value offered
• tenant and landlord communication
• integration of all services
• ease of use
• company reputation
• customer service
• tenant screening
• availability of a mobile application
• multi-user support
• number of units allowed

We made sure that all the names that we have mentioned here fulfilled most of these criteria.

How can accounting software help real estate investors?

Without a proper system, it’s easy to get lost in your records, especially if you have many units to manage.

Accounting software automates your bookkeeping process. This way, you have fewer chances to forget or miscalculate something.

As a real estate investor, what must I look for before buying accounting software?

The answer depends on your personal needs. But as for the fundamental features, consider the price, availability of a free trial, reviews of customer support, and who the software fits better: small businesses or large corporations.

Why are there so few desktop options in accounting software available?

Desktop software is becoming redundant these days. That’s why more and more companies have shifted to or started with cloud-based accounting software.

Cloud-based software offers access from any computer as it doesn’t require installation. You don’t lose your data if your computer is damaged.

If there are changes in laws, rules, and other tax regulations, it can notify you about updates and be quickly adjusted to them by the development team.

If I am not familiar with all the concepts of accounting, will I be able to properly use the software?

Accounting software does simplify your bookkeeping efforts, but you still need to be knowledgeable about the taxation rules and regulations applying to your business.

It will also help you to learn about tax benefits and tax strategies for real estate investors.

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About the Author:

With over 20+ years of experience in real estate investment and renovation, Brian Robbins brings extensive knowledge and innovative solutions to the HouseCashin team. Over the years Brian has been involved in over 300 transactions of income producing properties across the US. Along with his passion for real estate, Brian brings with him a deep understanding of real estate risks and financing.