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AppFolio Property Manager

AppFolio has a powerful accounting system that is accompanied by other vital business needs like marketing, online rent payment & more. The system has a migration feature that easily integrates all past data into the new system.
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Buildium

Buildium has all the tools for a complete accounting solution including a general ledger, reporting system and more. With a user-friendly interface and a 15-day free trial, it’s easy to make Buildium part of your company.
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Propertyware

Propertyware provides a complete accounting system by allowing seamless integration with QuickBooks. Since Propertyware is scalable, the software will continue to grow as your company does too.
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Property Matrix

Property Matrix is a cloud-based property management solution geared towards apartment complexes and multi-family unit properties. It offers a full suite of applications for managing multiple properties: tenant and lease tracking,... Read More
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SimplifyEm Property Management Software

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,... Read More
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Rent Manager

Rent Manager is a software system for both residential and commercial real estate companies. The financial accounting component of Rent Manager has full integration and includes standard functionality such as a general ledger with... Read More
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Total Management

A commercial and residential web-based property management system, Total Management offers full accounting, CAM and tax reconciliation, online rent payments and unlimited users. Ideal for mid-to-large sized organizations.
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Greenhouse PM

Greenhouse Property Management was developed by a single-unit landlord to fill a gap in the property management software market. This affordable web-based solution is a great fit for residential and single-family property managers... Read More
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Property Boulevard

While Property Boulevard’s main focus is overall property management, the system provides a module that’s designated solely for accounting functions. The system has a great database feature, keeping records of all communicatio
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SKYLINE Software

SKYLINE Property Management Software is an extensive Cloud-based system with a specialty in accounting. As the software is so flexible, it works great for companies of all sizes.
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Condo Manager

Condo Manager puts a heavy focus on accounting needs for property managers. The system provides features like check scanners, lockbox capabilities with support for as many bank accounts as needed & customized financial statements.
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RealPage

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... Read More
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Rentec Direct

Rentec offers a full accounting system with great features that include a tenant portal, online property directories and more. The software is also available in a basic, free version for managers with only a few properties.
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RentPost

RentPost's web-based property management solution delivers full accounting functionality: general ledger, accounts management, and online processing. Real-time, user-friendly dashboard. Compatible with mobile devices.
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Axxerion

Axxerion is an integrated suite of cloud-based property management and maintenance software designed keeping in mind small and mid-size property managers and owners. This suite helps property managers to automate the variety of functions... Read More
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MRI Commercial Management

With 40 years experience, MRI Property Management Accounting Software scales quickly for firms large and small with properties worldwide. This highly-customizable system offers automated calculations, billing, reporting and more.
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MRI Residential Management

MRI Residential is a full-service property management solution for companies managing more than 500 units. It features accounting and reporting functions as well as an online tenant portal and an online leasing module.
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MRI Bostonpost

Bostonpost Technology Property Manager provides cloud-based software and services to thousands of properties managing affordable housing accross the US. All Federal and State funding programs are supported, including housing subsidized... Read More
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GuestPoint

GuestPoint from Centium Software is a comprehensive property management solution designed for small and medium accommodation properties. This system supports invoicing, financial reporting and other accounting features.
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Yardi Genesis2

Genesis2 from Yardi is a property management and accounting software for small to midsize businesses. The cloud-based solution allows property managers to market, lease and manage many different property types from a single, mobile... Read More
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WebRezPro

WebRezPro is a web-based system that is great for managing hospitality properties including hotels, inns, vacation rentals and more. The system provides accounting features, as well as tools to track housekeeping and reservations.
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Budgetrac Property Management

Budgetrac is a cloud-based, comprehensive property management and accounting solution suitable for commercial properties such as industrial, office and retail. Budgetrac shares real-time information across organizations through role-based... Read More
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INFO-Tracker™

INFO-Tracker by Netintegrity Inc. is a property, accounting and maintenance management system that offers segment-specific modules customized for Condo HOA, residential, 3rd party rental, commercial real estate and affordable housing... Read More
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ResMan

ResMan is a cloud-based property management suite best suited for large and midsize companies in the multi-family industry. Key features include rent, leasing and budget management, portfolio management and lead management. The ResMan... Read More
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storEDGE

storEDGE management software allows users to manage multiple storage facilities within one system and choose which functions their employees can access. This system integrates with gate software, insurance providers and accounting... Read More
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Qube Property Management Software

Qube Property Management (PM) software provides a solution that is deployable on a cloud-based or on-premise system. It is designed for a variety of property management company sizes as well as industry segments including commercial,... Read More
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Pebblegate

Pebblegate is a web-based property management solution. The modular platform includes tenant & lease management, property accounting, budgeting & forecasting, and building maintenance; companies can implement only the applications... Read More
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SOFT4RealEstate

SOFT4RealEstate from Softera Baltic is a property management system designed to help commercial operators manage their tenants. The solution is built on a Microsoft Dynamics NAV platform and is operable in both web-based and on-premise... Read More
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TRACK PM

TRACK Hospitality Software offers a flexible suite of applications for hotels, resorts, and vacation rental management companies. This web-based system is platform agnostic, and offers mobile-OS specific apps for Android, Windows Phone,... Read More
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SiteLink

SiteLink Software is a solution for property management operators across the globe in industries including real estate investment trusts (REITs), manufactured housing and self-storage. The software is offered through a web-based or... Read More
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CICTotal Manager

CICTotal Manager is a property management software for multifamily properties. The web-based system is accessible from anywhere, and users can see updated statistics on their business in real time. Users can manage their properties... Read More
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Escapia

Escapia is a cloud-based vacation rental system that helps vacation rental managers automate property management tasks and online distribution. Key features include accounting tools, lead management, reservations, maintenance, housekeeping,... Read More
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OnCite

OnCite is a business solution that tracks and organizes information relating to portfolio, asset, project, and property management. The system can serve a variety of different types of properties, including corporate, medical, industrial,... Read More
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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-storage,... Read More
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Visual Lease

Visual Lease is a cloud-based lease administration and accounting solution for corporate tenants landlords who manage office space, retail stores, industrial sites and more. It enables users to track lease data, critical dates, financials,... Read More
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TOPS [ONE]

TOPS makes it easy for even the most inexperienced property manager to become a master of accounting duties. The system is very intuitive and follows all AICPA guidelines for condo/HOA accounting.
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Yardi Voyager

Yardi Voyager is a cloud-based property management and accounting platform for both commercial and residential entities. This software is designed for small portfolio real estate owners as well as large enterprises. Yardi Voyager... Read More
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Infor Hospitality Suite

Infor Hospitality Suite is used to manage properties around the globe, specifically over 73,000 customers in more than 200 countries. The software is suitable for many types of properties but is typically recommended to hotel chains,... Read More
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Infor Property Management

Infor Property Management helps users manage residential, commercial, Student housing, affordable and senior care/ assisted living properties. The solution delivers financial, operational and business intelligence capabilities specifically... Read More
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ResNexus

ResNexus is a cloud-based hotel and property management solution that helps boost reservations, streamline business practices and provide a booking engine for guests to make their own reservations. ResNexus is suitable for small to... Read More
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Apartment Information Management

Apartment Information Management Software (AIMS) is an all-in-one property management solution for apartment owners, landlords, and property managers. Released in 2011, AIMS offers the same functionality that can be found in leading... Read More
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CiraConnect

With over a decade of experience in the Community Management market, CiraConnect is a world class system for management companies and large, self-managed communities. This system offers completely integrated cloud-based and mobile-app... Read More
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PMX Property Management

PMX Property Management offers a system for property managers of all types built on the MS Dynamics NAV platform. It is suitable for managing apartments and vacation rentals as well as commercial, industrial and international properties.... Read More
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BuildingLink

BuildingLink is a property management platform with 23 modules and 400 customization options. Dashboards enable users to oversee resident and staff activity, and a search function can quickly retrieve information on any unit for one... Read More
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Quicken Rental Property Manager

Quicken Rental Property Manager is a rental property and personal finance management tool that enables users to track tenant information, manage income and finances and track expenses. The solution is suitable for businesses of all... Read More
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OneSite

The RealPage Multifamily Property Management suite is a fully-integrated solution that handles every task of the tenant life cycle, from beginning to end: nurturing prospects on-the-go with new lease information accessed via tablet,... Read More
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Property Vista

Property Vista was developed by one of Canada’s industry leaders in the property management market. Designed for multi-unit residential properties, PropertyVista is web-based and offers an integrated suite of applications that are... Read More
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Accruent

Designed specifically for the retail industry, Accruent is an end-to-end real estate and facilities management system intended to help users gain insight to their store conditions and identify opportunities to increase ROI. Accruent... Read More
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VerticalRent

VerticalRent from VerticalCloud is a tenant screening system designed for landlords, brokers, realtors and property managers. This Web-based program offers credit scores with Experian VantageScore, Criminal Report and the National... Read More
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Arthur

Arthur is a cloud-based property management solution designed for small and mid size HMOs and managers of social housing, residential block, commercial properties, student housing and single outlets. The solution works on both PC and... Read More
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Buyer's Guide

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.