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Discover all-in-one property management software that gives you more of the “all.” Accounting, communications, leasing, and top-rated mobile apps—there’s everything you’re looking for and then some. No matter the portfolio, Buildium is purpose-built to let...Read more about Buildium
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All-in-one property management software that helps property managers and owners make more money, get organized, and grow. We help you simplify property management by automating tenant and lease tracking, rent and fee collection, accounting and reporting, ...Read more about DoorLoop
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Yardi Breeze is all-in-one, cloud-based property management software for companies of any size. Our scalable solutions put you in charge of your entire portfolio from lead to lease. Take operations to the cloud with online payments and secure portals for a...Read more about Yardi Breeze
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SimplifyEm is a property management software designed to meet the requirements of small and mid-sized landlords and property managers. The web-based solution offers features like property accounting, tenant management, lease tracking, bank reconciliation, ...Read more about SimplifyEm
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Rent Manager is award-winning property management software built for residential, commercial, association, manufactured housing, self-storage, and short-term-stay portfolios of any size. The program’s fully customizable features include a double-entry acco...Read more about Rent Manager
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Run your entire portfolio on one powerful 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 multifamily apartment com...Read more about AppFolio Property Manager
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PropertyZar is a cloud-based property management solution for small to large landlords and property managers. It offers features such as tenant screening, online applications, e-payments, posting vacancies and work order management.PropertyZar is one of th...Read more about PropertyZar
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PayHOA is an easy-to-use platform designed to manage every aspect of your HOA or condo community. Each homeowner can access their online portal to make online payments, submit request forms, reply to violations, view the community calendar and message bo...Read more about PayHOA
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TenantCloud is a cloud-based property management system designed to meet the needs of landlords, property managers, rental owners, team members, service providers, vendors and other real estate professionals. The system offers property management, tenant m...Read more about TenantCloud
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Property Matrix is a cloud-based property management solution for apartment complexes and multi-family unit properties. It offers applications for tenant and lease tracking, property accounting, building maintenance, CRM and online classifieds. The solutio...Read more about Property Matrix
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Simple, cost-effective, customizable software solution for small to medium sized property management businesses. Free onboarding and data migrations. Concierge customer service: direct, real-time support from our team. No queues or auto replies. No mini...Read more about Arrivo
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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 term commitments, and includ...Read more about Rentec Direct
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With PayProp, you can collect and match rent to the right tenants, make outgoing payments, report on your entire portfolio and more in just a couple of clicks. PayProp’s powerful property management platform automates the crucial financial administration ...Read more about PayProp
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RealPage is a cloud-based property management solution suitable for businesses of any size. Key features include accounting, budgeting, facilities maintenance, purchasing, document management and reporting. RealPage enables users to organize and store...Read more about RealPage
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Re-Leased is a cloud-based commercial property management solution. Key features include accounting, portfolio management, tenant communication, inspections, document storage and compliance management. The solution integrates with Xero and is able to syncs...Read more about Re-Leased
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MRI Commercial Management is built for commercial property managers. It offers real-time, actionable data which can be used to manage assets, all from the secure Alloy platform. Commercial Management (CM) clients include managers of industrial and office s...Read more about MRI Commercial Management
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ADDA is a comprehensive Community and HOA management software that helps manage communities and multifamily buildings efficiently. It offers a range of features such as accounting, communication, visitor management, facility booking, and helpdesk managem...Read more about ADDA
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INFO-Tracker by Netintegrity Inc. is an all-in-one cloud-based property, accounting and maintenance management solution that helps property management companies with the management of Condominiums, Home Owner Associations and Rental portfolios starting fro...Read more about INFO-Tracker
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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 by navigating multiple scr...Read more about Total Management
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ResMan simplifies multifamily and affordable property management. Automate finances seamlessly with advanced AR and transparent audit trails. Engage prospects efficiently through centralized leads and real-time SMS communication. Boost visibility with dy...Read more about ResMan
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Entrata® is a leading operating system for multifamily communities worldwide. Setting the bar for innovation in property management software since 2003, Entrata offers solutions for every step of the leasing lifecycle and empowers owners, property managers...Read more about Entrata
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MRI Affordable Housing is an intuitive, web-based solution that automates compliance processes, drives efficiency with process and role-based dashboards, and provides better insight into investment and financial data. Multi-layered subsidies and all federa...Read more about MRI Affordable Housing
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All-in-one accounting and complete operations management with Enumerate Central Our easy-to-use platform makes community management painless. At its core is an innovative accounting engine that automates important processes and customizes to your unique n...Read more about Enumerate
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AWARD-WINNING RESERVATION SOFTWARE TRUSTED BY THOUSANDS OF PROPERTIES! ResNexus is a cloud-based property management software that helps increase reservations and revenue. As an all-in-one solution, ResNexus provides a beautifully designed ADA compliant...Read more about ResNexus
Landlord Studio is property management software done right. A cloud-based mobile-first property management tool that aims to help DIY and small to mid-sized businesses manage their accounting and communication to the tenant. Landlord Studio aims to put you...Read more about Landlord Studio
Popular Comparisons
Your Guide to Top Property Management Accounting, September 2022
Software Advice uses reviews from real software users to highlight the top-rated Property Management Accounting products in North America.
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“Usability” includes user ratings for Functionality and Ease of Use.
“Customer Satisfaction” includes user ratings for Customer Support, Likelihood to Recommend and Value for Money.
Reviews analysis period: The reviews analysis period spans two years and ends the 15th of the month prior to publication.
Buyers Guide
This detailed guide will help you find and buy the right property management accounting software for you and your business.
Last Updated on November 24, 2023Property 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
What are the benefits of property management accounting software?
What are some deployment options for property management accounting software?
What are some business trends of property management accounting software?
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
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. |
What are the 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.
Calculate rent increases easier. Software can help analyze local housing market conditions to calculate how much you can charge for rent while staying competitive.
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.
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.
What are some deployment options for property management accounting software?
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.
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.
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.
What are some business trends of property management accounting software?
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.
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.