Best Real Estate Accounting Software of 2024 [Free & Paid]

By Ryan Squires 

Finding the best real estate accounting software for your needs is crucial, no matter the size of your portfolio.

Because, let’s face it, streamlining bookkeeping and ensuring your numbers are airtight is non-negotiable.

In this guide, we’ll evaluate eight of the industry’s most trusted real estate accounting software solutions, compare essential factors, and match you up with the best fit for your needs.

And to simplify your search, we’ve split our recommendations into two categories:

• All-in-One Real Estate Accounting + Property Management Software
• Accounting Software without Property Management Features

Let’s get started.

All-in-One Real Estate Accounting + Property Management Software

To begin with, we’ve selected four widely used and highly rated property management software solutions that offer integrated accounting and financial reporting.

While universal accounting solutions like Xero, QuickBooks, and Zoho Books could be adequate for your needs, these platforms weren’t engineered explicitly for landlords, property managers, or real estate investors.

As such, we recommend considering all-in-one property management software that handles accounting and streamlines rental marketing, tenant screening, lease generation, rent collection, maintenance requests, and other essential duties.

Best All-in-One Accounting + Property Management Software

TurboTenant

We’d be selling you short if we didn’t start this guide by recommending TurboTenant, the best property management software with integrated accounting and tax reporting on the market today.

TurboTenant’s highly-rated landlord software integrates with REI Hub’s top-notch accounting features that thrive for landlords, property managers, and real estate investors. Boasting a sterling 5.0-star Google Business rating, REI Hub’s customers have nary a bad word to say about the company.

Perhaps that’s because REI Hub forgoes the antiquated spreadsheet model in favor of more visually appealing features that securely integrate expenses, allow users to create rule-based transaction matching, and generate handy templates that save landlords time and money.

Accounting aside, TurboTenant’s powerful property management software enables landlords to advertise rental properties, process rental applications, screen tenants, craft lease agreements, accept rent payments, handle maintenance requests, and do it all from their laptop or mobile device.

So, sign up for a free account to take TurboTenant for a spin. Most property management features listed above are free, with no strings attached. Plus, we’re offering a 50% discount for the first two months of REI Hub so that you can get a feel for how TurboTenant and REI Hub empower landlords to eliminate pricey property management companies from their bottom lines.

Pros

• Utilizes REI Hub’s highly-rated rental accounting software
• Comes with a full suite of property management financial reporting
• Rent payments and other real estate expenses automatically sync with the software
• Features real-estate-specific capabilities, including tenant screening, rental advertising, lease agreements, maintenance management, and more
• 50% off introductory offer
• Users can track accounting and run reports for unlimited units at only $85 a month

Cons

• REI Hub’s free trial doesn’t transfer to TurboTenant

Best for Small-to-Medium Sized Portfolios

RentRedi

Like TurboTenant, RentRedi utilizes REI Hub’s powerful accounting software to help its customers effortlessly balance their books and generate flawless financial reports.

RentRedi’s accounting features ($39 per month for landlords with ten or fewer properties) work well for landlords of all stripes but best suit those with growing portfolios. Ultimately, their pricing structure for small-time landlords makes the software appealing.

As with TurboTenant, RentRedi offers all of the property management features you’d expect from an all-in-one software, including rent collection, credit boosting, e-signing, renter’s insurance, and more.

Pros

• Utilizes REI Hub’s highly-rated rental accounting software
• Full suite of property management features
• Highly rated and reviewed across many platforms
• Users can track accounting and run reports for unlimited units for $99 a month

Cons

• No free trial available

Premium Free Trial

Landlord Studio

Though we recommend TurboTenant and RentRedi above all other property management software solutions, Landlord Studio offers something you can’t find from either: a 14-day free trial to test drive their premium software and accounting features.

If you use Xero, Landlord Studio integrates with it, making the pairing convenient for real estate investors already familiar with the widely used accounting software. Integrating existing financials from Xero to Landlord Studio could get complicated, but don’t say we didn’t warn you.

Since Landlord Studio’s prices operate on a sliding scale, visit their pricing page to see if their software makes sense for your budget.

Pros

• Free 14-day trial for PRO features
• Receipt scanner and mileage tracker are helpful
• Integrates with Xero

Cons

• Doesn’t integrate with REI Hub or QuickBooks
• A maximum of five users are allowed on the PRO Plan
• Pricing only makes sense for landlords with small-to-medium-sized portfolios

Well-Established and Widely-Used

Buildium

Of all the property management software we’ve recommended up to this point, Buildium has been around the longest. Their accounting and reporting software, included in all three pricing tiers, is trusted by thousands.

Buildium’s integrated property management software is robust by industry standards and covers all the essential features you’d expect, including intriguing standouts like client lead generation, and property inspections.

However, Buildium is the most expensive solution among the four products we’ve recommended, and it’s not even close. For instance, a landlord with 150 properties in their portfolio will be on the hook for $375 a month after signing up for Buildium’s Premium Plan.

TurboTenant landlords who subscribe to the Premium Plan and add on accounting features, however, will pay less than $98 per month to manage unlimited properties.

Pros

• Accounting software is included in every tier
• Robust set of property management features
• Widely trusted by property managers

Cons

• Doesn’t integrate with QuickBooks or Xero
• Expensive; the premium plan starts at $375 per month
• Might not make financial sense for landlords with small portfolios

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A landlords one stop shop for tenant management…for FREE

You can’t beat free and the only time you pay is if you want to purchase a lease or have expedited rent deposits. Most everything else costs zip, zero, zilch.

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Accounting Software without Property Management Features

If the property-management-specific solutions above are giving you pause, you might want to consider a service that focuses solely on accounting and reporting.

Well-known companies like REI Hub, QuickBooks, Xero, and Zoho Books offer intuitive and powerful solutions that can balance your books and take the stress out of tax season.

But keep this in mind: The four companies we’re about to recommend won’t help you accept rental applications, initiate background checks, advertise your rentals, manage maintenance requests, or handle your many other property management needs.

Best Real-Estate Specific Accounting Software

REI Hub

At this point in our write-up, we’ve made our glowing opinion of REI Hub quite clear.

And, though we’d recommend signing up for property management software already integrated with REI Hub’s powerful accounting features, we wouldn’t fault you for seeking out their services independently.

Designed explicitly for property managers and real estate investors, REI Hub’s robust set of features includes 1099 vendor tracking, double-entry accounting, and automatically generated reports like balance sheets, cash flow, P&L, cash-on-cash, and net operating income.

On top of that, REI Hub returns countless five-star reviews from satisfied clients and offers thoughtful customer service from well-trained professionals based in the US.

Property managers who already have their day-to-day operations on autopilot but crave a more streamlined accounting solution might find REI Hub to be the perfect fit.

Pros

• Designed for property managers and real estate investors
• Integrated into trusted TurboTenant and RentRedi
• Each tier enjoys the same full suite of features
• Pricing is based on the size of the portfolio
• 5.0-star Google Business rating
• Free 14-day trial

Cons

• Limited integrations compared to competitors

Best Introductory Offer

Xero

Xero is one of the big names in the accounting software universe, and its services could be helpful for property managers and real estate investors seeking to tidy up their numbers.

Equipped with intuitive features like project tracking, payment collection, payroll, bank reconciliation, automated bill paying, and more, Xero will undoubtedly meet the needs of busy landlords who need to bring order to their finances.

Xero offers potential clients a free 30-day trial and a generous 95%-off introductory rate for their ‘Growing’ and ‘Established’ tiers, allowing users to thoroughly test their product before committing to it long-term.

While you shouldn’t doubt Xero’s ability to balance the books, remember that they are a big box supplier that doesn’t offer complimentary real-estate-specific features that you’d enjoy with all-in-one property management software.

Pros

• Incredibly affordable three-month intro offer
• Automation features allow for enhanced efficiency
• Integrates with Gusto payroll

Cons

• Not explicitly made for real estate
• Some users have reported a steep learning curve
• One of the more expensive solutions (after the intro offer)

Used by Millions Worldwide

Intuit QuickBooks

Unless you’ve been living under a rock, you’re likely aware that QuickBooks is a powerhouse in the accounting software arena. They offer a functional and full-featured interface that helps millions of people worldwide keep their finances in order.

QuickBooks has long been the industry standard regarding invoicing, tracking expenses, managing bills, uploading receipts, and integrating with tax software, but their impressive features don’t necessarily mean they’re your best option. Why, you ask?

Exhibit A: Intuit’s abysmal Trustpilot page, where thousands of unhappy QuickBooks users go there to vent about the company’s poor customer service, unexplained account deactivations, and questionable business practices. Yikes.

Not to mention, QuickBooks (as you may have gathered by now) doesn’t offer integrated features built for property managers, such as tenant screening, rental advertising, or maintenance management.

Pros

• Widely-used and full-featured
• Syncs with TurboTax to streamline filings
• Integrates with over 750 other popular business apps

Cons

• Big box company; doesn’t specialize in real estate
• At $235 a month, their Advanced Plan is as expensive as it gets
• Terrible customer service reviews on Trustpilot

Rock-Solid Customer Service

Zoho Books

Zoho Books has all the features you’d expect from a major player in the accounting software game, including expense tracking, purchase approvals, secure document storage, bank synchronization, and more.

However, they separate themselves from the other big names in the industry through top-notch customer service. By all accounts, clients seem thrilled with the support they receive from Zoho’s knowledgeable help team.

To attract potential customers, Zoho Books offers a free 14-day trial to anyone who wants to test their product. They also allow anyone with less than $50,000 in annual revenue to use their software for free as long as they stay below the threshold. That’s pretty generous.

Though we’re impressed with Zoho Books’ customer service ratings and product, we think property management software with integrated accounting features is the no-brainer choice for anyone looking to simplify their real estate investment operation.

Pros

• Offers a free plan for businesses with under $50,000 in annual revenue
• Each plan comes with a free trial
• Great customer service reviews on Trustpilot

Cons

• Like Xero and QuickBooks, not specifically designed for real estate
• Not as many integrations as its competitors
• The highest-tier plan is expensive: $240 a month

We Have a Winner

Thank you for sticking around as we analyzed the best real estate accounting software solutions of 2024.

For our money, we believe TurboTenant’s all-in-one property management software with integrated accounting features from REI Hub is superior to all other options.

TurboTenant’s powerful accounting features can help you track every expense, organize essential data, set customizable rules, and generate easy-to-understand graphs and charts to visualize your financial picture.

All while seamlessly simplifying the rest of your property management needs, such as rental marketing, tenant screening, lease generation, rent collection, and more.

Sign up for a TurboTenant account today to immediately automate your bookkeeping and property management operation.

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