Searching for the best property management accounting software for your business?

Save yourself time and stress. We’re here to help you find the right property management accounting software solution for your work.

What is property management accounting software?

Property management accounting software offers a number of features that typical accounting systems do not. In addition to financial reporting and payroll, these programs will integrate industry-specific information about vacancies, units, tenants and property maintenance into the real estate software.
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What 5 key Property Management Accounting Software features should I look for?

Track rents & payments

This software will categorize receipts based on the specific real estate category, such as rents, utilities, subleases or late fees. The software also calculates real estate taxes, property insurance, maintenance costs and payroll, and all of this information ties directly to the tenant or property record.

Online payment portal

Some property accounting systems include an online portal for tenants to pay rent. This simplifies the payment process, as renters can pay online 24/7 using credit or debit cards. This feature is more common in full property management suites.

Bank reconciliation

Many systems offer bank reconciliation assistance to ensure the figures match in both your’s and the bank’s accounts. Users can download bank statements to identify and correct discrepancies.

Reporting

Accounting systems typically offer a variety of report and chart types to view income and expense data by month or year. These reports can be automatically generated at certain dates and shared with specific people.

Business growth & development

Automatically calculate annual rent increases, property appreciation and depreciation, as well as manage the growth of your assets. Many of these programs also have built-in budgeting and forecasting capabilities and the ability to analyze rents based on current market rates.

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Showing 1 - 20 of 139 products
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Showing 1 - 20 of 139 products

OnCite

OnCite is a web-based property management solution with functionality extending from accounting and financial management to project management, contact management, and other business processes. The system is modular and scalable....Read more

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Buildium

Buildium is a cloud-based property management software that enables managers of residential and association properties to take control of every aspect of their business, whether in the office or fully remote, including online rent...Read more

4.49 (1772 reviews)

148 recommendations

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Property Boulevard

Offering complete accounting and property management functionality, Property Boulevard is designed to fit the needs of all types of commercial and residential portfolios. Ideal for all sizes of firms and easily scales with growth....Read more

4.16 (16 reviews)

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Rent Manager

Rent Manager is award-winning property management software built for residential, commercial, and short-term-stay portfolios of any size. The program’s fully customizable features include a double-entry accounting system, maintena...Read more

4.38 (208 reviews)

38 recommendations

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AppFolio Property Manager

Run your entire portfolio on one modern platform. AppFolio’s intuitive and user-friendly experience gives your property management team the tools they need to provide excellent service to residents and owners. Whether you manage m...Read more

4.56 (1733 reviews)

60 recommendations

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PropertyBoss

PropertyBoss is a property management solution for mid-sized to large property managers. The software caters to managers of affordable housing units, apartment complexes, manufactured housing, military housing, residential, self-s...Read more

3.89 (9 reviews)

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SKYLINE

SKYLINE from SS&C Technologies is a web-based property management and accounting solution suitable for small to midsize real-estate firms. Designed to handle an array or key operations, SKYLINE is capable of offering integrated to...Read more

3.61 (49 reviews)

17 recommendations

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RentMaster

RentMaster is a rental management software designed to help businesses manage stocks, pickups, deliveries, orders and customer communications. The platform enables managers to track real-time product availability and define catego...Read more

4.85 (26 reviews)

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Rentec Direct

Rentec Direct serves as a web-based, full-featured management system for landlords and property managers that is designed to suit the needs of those managing properties between 25 and 5,000 units. Rentec has no startup fees, no te...Read more

4.63 (179 reviews)

15 recommendations

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RentPost

RentPost is a web-based property management solution with functionality for managing property, including an accounting system, tenant and unit management support, work orders, online payments, and a visual dashboard....Read more

4.46 (14 reviews)

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Software pricing tips

Read our Property Management Accounting Software Buyers Guide

Subscription models

  • Per employee/per month: This model allows you to pay a monthly fee for each of your employees.
  • Per user/per month: Users pay a monthly fee for users—normally administrative users—rather than all employees.

Perpetual license

  • This involves paying an upfront sum for the license to own the software and use it indefinitely.
  • This is the more traditional model and is most common with on-premise applications and with larger businesses.

Rated best value for money

Total Management

Total Management is a cloud-based property management solution suitable for midsize to large organizations that manage apartments, mixed portfolio, REITs and commercial or retail space. Total Management helps users multitask ...Read more

4.23 (89 reviews)

6 recommendations

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Visual Lease

Visual Lease is the leading lease accounting and management solution, designed to simplify compliance with ASC 842, IFRS 16 and GASB 87. Built with years of embedded knowledge from leading lease experts and CPAs, Visual Lease's po...Read more

4.81 (36 reviews)

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MRI Commercial Management

With more than 40 years as an industry leader, MRI Software utilizes their breadth of knowledge to offer Commercial Management, a scalable, customizable system that optimizes real estate investments and operations....Read more

3.86 (25 reviews)

2 recommendations

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MRI Residential Management

MRI Residential Management suits managers looking to reduce costs while also increasing property occupancy. MRI Software has developed a comprehensive system that offers end-to-end functionality, managing everything from leasing t...Read more

4.08 (26 reviews)

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MRI Affordable Housing Property Manager

Bostonpost Technology's integrated, Web-based solution delivers cost-effective property management, maintenance and accounting solutions. We like that it can manage from 10 to 10,000 units and that you can pay as you go monthly....Read more

3.92 (6 reviews)

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Yardi Voyager

Yardi Voyager is a property management and accounting platform for commercial and residential entities. Suited for small portfolio real estate owners as well as large enterprises, this system can only be deployed in the cloud....Read more

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Hotelogix

Hotelogix is a fit for small and mid-sized hotels, resorts, B&Bs, and other property types seeking an end-to-end solution that offers features a growing hotel needs, available in the cloud....Read more

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ResNexus

For inns, motels, bed & breakfasts, and a variety of other hospitality businesses, Reservation Nexus provides an intuitive system for generating reports, streamlining business practices, and simplifying online bookings....Read more

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AIMS

Apartment Information Management Software (AIMS) by ATE Partners offers an integrated suite of property management applications that help leasing offices and landlords track all aspects of their rental business. ...Read more

3.00 (1 reviews)

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Greenhouse PM

Smaller-scale landlords and property managers will find Greenhouse PM to be a user-friendly and straightforward web-based solution for managing less than fifty units. A free trial allows users to tour its cohesive PM applications....Read more

4.57 (7 reviews)

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Popular Property Management Accounting Software Comparisons

Buyers Guide

Last Updated: March 10, 2022

Property management accounting software offers a number of features that typical accounting systems do not. In addition to financial reporting and payroll, these programs will integrate industry-specific information about vacancies, units, tenants and property maintenance into the real estate software.

The more robust accounting tools also manage company information related to property listings, track referrals and link electronic documents to sales.

This guide was created to help property managers determine the best software to meet their needs. We’ll cover the following topics:

What Is Property Management Accounting Software?
Common Features of Property Management Accounting Software
Benefits of Property Management Accounting Software
Deployment Options
What Type of Buyer Are You?
Business Trends to Be Aware Of

What Is Property Management Accounting Software?

Property managers are required to perform some specific types of accounting processes, such as holding and tracking security deposits and common area maintenance costs.

A property-management-specific accounting system is designed to assist managers with their unique responsibilities, such as:

  • Collecting rent on a monthly basis
  • Tracking expenses for maintenance, improvements and supplies
  • Budgeting and forecasting using real-time information

Reporting features also allow managers to review income by property so users have a bird’s-eye view of their financial health.

Screenshot of open vacancies in Buildium

Screenshot of open vacancies in Buildium

Common Features of Property Management Accounting Software

Track rents & payments This software will categorize receipts based on the specific real estate category, such as rents, utilities, subleases or late fees. The software also calculates real estate taxes, property insurance, maintenance costs and payroll, and all of this information ties directly to the tenant or property record.
Online payment portal Some property accounting systems include an online portal for tenants to pay rent. This simplifies the payment process, as renters can pay online 24/7 using credit or debit cards. This feature is more common in full property management suites.
Bank reconciliation Many systems offer bank reconciliation assistance to ensure the figures match in both your’s and the bank’s accounts. Users can download bank statements to identify and correct discrepancies.
Reporting Accounting systems typically offer a variety of report and chart types to view income and expense data by month or year. These reports can be automatically generated at certain dates and shared with specific people.
Business growth & development Automatically calculate annual rent increases, property appreciation and depreciation, as well as manage the growth of your assets. Many of these programs also have built-in budgeting and forecasting capabilities and the ability to analyze rents based on current market rates.
Common area management Most solutions calculate charges and costs associated with common areas, tracking maintenance, policies and usage as desired.

Benefits of Property Management Accounting Software

The automation of accounting processes is an obvious benefit of property accounting software, and others increase convenience in common tasks.

  • Get paid faster. With an online payment portal, you don’t have to wait for mailed checks to arrive. Tenants can pay rent online anytime, with cards or cash, which goes directly into your account.
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  • Calculate rent increases easier. Software can help analyze local housing market conditions to calculate how much you can charge for rent while staying competitive.
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  • Stay on top of your accounting from anywhere. Most of the top property management software vendors offer a native mobile app or the ability to access the system through a mobile web browser. Even when traveling, you can view incoming payments or reports.
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  • Devote more time to finding great tenants. After the software helps you handle complex accounting tasks, you can focus on screening out the bad tenants you don’t want to deal with.

Deployment Options

Software can be implemented in various ways, but two options are most common today:

  • On-premise. An on-premise accounting system would be installed locally on the computer you use at your office. This type of deployment keeps your accounting data close-at-hand. These deployments typically require a larger upfront cost.
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  • Cloud-based. Alternatively, a cloud-based system is installed on the software vendor’s servers and delivered to you via the Internet. This can be a more secure option, as your accounting data is saved “in the cloud” and won’t be lost should your local computer be destroyed or lost. Additionally, a cloud-based deployment is often a cheaper investment upfront, with fewer hardware requirements and a monthly subscription fee.

What Type of Buyer Are You?

Portfolios can vary greatly from one property manager to the next. Software vendors know this and offer a range of features that can often be mixed and matched to meet a manager’s requirements.

  • Managers with a single, small apartment complex. For those who oversee a small apartment complex, basic accounting features, such as general ledgers for rent payments and expenses, should be enough functionality to handle your needs. Additional features can be added to increase convenience.
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  • Managers with a large complex or mixed real estate portfolio. Maybe you manage a few apartment complexes, or you have a mixed portfolio, with hundreds of tenants to track. These managers can gain greater benefits from software by opting for more functionality, such as advanced reporting, budgeting and forecasting. An online portal can also greatly reduce the stress of collecting rent each month.

Business Trends to be Aware of

The property management industry is always subject to new government regulations, renter behavior trends and the ever-changing real estate and housing markets. Here are some events that impact property managers:

  • Rent growth is strong despite increase in supply. The U.S. housing supply in 2016 isn’t able to meet demand, leading to high rent growth. Cities with booming rents include Austin, Seattle and Nashville. Some experts say these markets are tough to enter as developers are aggressively building new properties, but apartment managers in these locations have the opportunity to increase rates.
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  • Are we due for another economic recession? U.S. economic indicators in mid-2016 are showing patterns that could lead to another recession within 12 months, according to J.P. Morgan economist estimates. This suggests that property managers should be conservative about plans for growth or expansion and more critical of applicant’s financial stability.