Last Updated: January 27, 2024

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Mrunali Gaikwad

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Thriving real estate businesses need strong accounting backbones and the perfect hint of automation to ease workflows. Corporations are moving beyond Excel sheets and manual accounting. Why must real estate companies and professionals hold themselves back?   

Whether you are looking for startup inspirations in the real estate industry or seeking a custom real estate accounting solution for your existing business, this blog will fuel your inspiration. Here, we will highlight some of the existing best real estate accounting software so you can come up with competent ideas when building your own.   

While automation and artificial intelligence take over various industries, their emergence within the real estate world is still fresh. Clients knock at our inboxes with multiple questions regarding essential aspects of real estate accounting and management software. If you are among those, keep reading! 

14 Best Accounting Software for Real Estate Investors

There are some of the best real estate accounting software in the market that companies, investors, agents and realtors find reliable. While many of them are based on general accounting needs, there are features and functionalities you must include in your custom real estate accounting solution. Let’s take a closer look at some of them. 

QuickBooks 

QuickBooks - Real Estate software example for startup investors

QuickBooks is a widely adopted powerful accounting software for real estate investors and professionals. It has around 80% market share with over 26.56 million users in the US. This tool excels in real estate accounting, offering a comprehensive suite of features.

Users can effortlessly manage rental income and expenses, track property values and depreciation, and generate insightful reports to guide investment decisions. QuickBooks automates these tasks, saving time and ensuring accuracy.

Its user-friendly interface makes navigating easy, even for those with limited accounting experience. Excellent reporting capabilities provide valuable financial data at your fingertips, allowing users to make informed decisions about property investments, tenant relations, and overall financial health. 

Feature Highlights 

  • Track rental income and expenses: It can easily record rent payments, track maintenance costs, and categorize expenses for tax purposes.
  • Manage lease agreements: Users can create and store lease agreements on the cloud, track key dates and terms, and automate reminders for rent renewals.
  • Follow property values and depreciation: Monitor changes in property values over time and calculate depreciation expense accurately.
  • Generate customized financial reports: Create customized reports to track profitability, analyze investment performance, and make informed business decisions.
  • Integrate with other tools: QuickBooks can be connected with other property management software and financial tools for a seamless workflow. 

Zoho Books 

Zoho-Books - Real Estate software example for startup investors

Zoho Books is yet another reliable real estate accounting software. This cloud-based solution offers real estate agents and professionals all the necessary functionalities for managing their financial operations. 

It simplifies tasks like tracking income and expenses, reconciling bank accounts, generating invoices and reports, automating tax calculations, etc. Users get AI-based real-time financial health insights and receive proactive alerts about potential cash flow issues. This streamlines financial processes and saves valuable time for real estate agents, property managers, and investors.

Key Feature Highlights 

  • Streamlined invoicing and bill payments: Manage rent collection, create customized invoices for tenants and vendors, and automate bill payments for recurring expenses.
  • Accurate expense tracking: Categorize rental property expenses, track maintenance costs, and simplify tax preparation with detailed reports.
  • Multiple bank accounts and currencies: Manage separate accounts for different properties, receive rent payments in various currencies, and track foreign transactions effortlessly.
  • Project management and budget tracking: Plan renovations, monitor project budgets, and track expenses associated with each property for informed decision-making.
  • Inventory management: Keep track of maintenance supplies, equipment, and rental units with an integrated inventory system. 

Xero

Xero - Real Estate software example for startup investors

Xero is a leading cloud-based, real-estate accounting software allowing companies to stay on top of their finances. It goes beyond the limitations of traditional Excel spreadsheets by offering a comprehensive and intuitive platform for managing your business contacts. It allows you to effortlessly add, edit, and store critical details, notes, and documents—all for each contact. 

But Xero's value extends beyond mere data storage. Its robust third-party integration capability allows users to seamlessly connect their contact information with other essential business tools, streamlining workflows and maximizing efficiency. 

Key Feature Highlights 

  • Effortless transaction tracking: Snap photos of receipts and bills, upload bank statements, and Xero automatically categorizes them, saving hours on manual data entry.
  • Simplified rental property management: Track income and expenses for multiple properties, generate tenant statements, and manage deposits and rent arrears, all in one place.
  • Real-time financial insights: Get an instant overview of your finances with clear dashboards and customizable reports. Understand your cash flow, profitability, and key performance indicators (KPIs) at a glance.
  • Seamless collaboration: Share records and work with your accountant, or property manager securely in real-time. No more emailing spreadsheets back and forth! 
  • Third-party integration: Xero integrates with over 800 third-party apps, including property management solutions and CRM systems, further streamlining your workflow.  

FreshBooks  

FreshBooks - Real Estate software example for startup investors

FreshBooks gives an improved edge to real estate accounting with its powerful feature set, streamlining tasks, and accelerating payment cycles. Users can significantly save time with efficient expenses and client management functionalities. FreshBooks offers diverse payment options for clients, ensuring you focus more on growing your real estate business. It now has over 30 million customers. 

Apart from its accounting capabilities, it allows you to impress potential clients and close deals faster with professional, customizable estimates. Whether managing rental properties or facilitating sales, FreshBooks lets you set clear expectations and promote positive client relationships. Its extensive library of pre-designed templates, for various industries and scenarios, ensures smooth communication and transparency throughout the engagement process.  

Key Feature Highlights 

  • Automated invoicing and rent collection: Create professional invoices with ease, schedule recurring payments, and accept online payments securely, saving you hours of manual work.
  • Detailed expense tracking: Organize and categorize all your property-related expenses, from repairs and maintenance to marketing and insurance, gaining a clear picture of finances.
  • Property-specific reports: Generate insightful reports for individual properties or your entire portfolio, helping you track profitability, identify trends, and make informed decisions.
  • Integrations: Connect FreshBooks with other real estate apps you already use, like property management software and listing platforms, for seamless data flow and increased efficiency. 
  • Time tracking: Track time spent on different projects and bill clients accordingly for comprehensive invoicing.  

AppFolio 

AppFolio - Real Estate software example for startup investors

AppFolio stands as a leading cloud-based property management software, with real estate accounting at its core. Eliminating manual processes and scattered spreadsheets, AppFolio centralizes rent collection, accounts payable & receivable, general ledger, and financial reporting in a single platform. 

It caters to property managers, homeowners' associations (HOAs), and real estate investors. AppFolio provides a comprehensive suite of features, including accounting, leasing, maintenance, and communication tools. Its user-friendly interface and automation capabilities make it a popular choice for those in the real estate industry looking for an integrated solution to manage their properties effectively. 

Key Feature Highlights 

  • Seamless accounting: Integrated online payments, automated rent reminders, and real-time financial reporting ensure efficient cash flow management.
  • Resident portals and mobile app: Residents can easily pay rent, submit maintenance requests, and access lease details online or through the convenient mobile app, boosting resident satisfaction.
  • Marketing and resident screening tools: Attract qualified tenants with online listings and streamline the application process with built-in screening tools.
  • Maintenance management: Track work orders, assign tasks, and manage vendor relationships effectively, ensuring prompt resolution of resident concerns.
  • Data-driven insights: Generate comprehensive reports and leverage real-time data to make informed business decisions. 

NetSuite  

NetSuite - Real Estate software example for startup investors

NetSuite isn't just a real estate accounting software, it's a full-fledged cloud enterprise resource planning (ERP) system with real estate accounting capabilities nestled within. It comes with a complete suite of business-oriented add-ons and allows financial clarity and decision-making with excellent fixed asset management. 

NetSuite automates depreciation and lease accounting, eliminating inefficiencies and ensuring timely, accurate reporting. Gain a comprehensive view of your entire asset lifecycle, from acquisition to retirement, letting users make data-driven choices. 

Key Feature Highlights 

  • Integrated accounts: Track all financial data across property types, projects, and entities in a single, centralized system, providing a complete view of your real estate portfolio.
  • Automated workflows: Streamline accounting processes like rent collection, lease management, and vendor payments with automated workflows, saving time and reducing errors.
  • Project accounting: Manage construction and development projects with dedicated modules for budgeting, cost tracking, and profitability analysis.
  • Real-time reporting: Gain instant insights into financial performance with real-time dashboards and reports, enabling informed decision-making.
  • Scalability: Adapt the system to your evolving needs, whether managing a handful of properties or a diverse portfolio across multiple locations. 

DoorLoop 

DoorLoop - Real Estate software example for startup investors

DoorLoop is a cloud-based real estate accounting software designed to simplify financial management for property managers. This property management platform comes with a complete package of accounting tools. They are specifically crafted for the diverse needs of residential, commercial, and even workforce and community housing facilities. 

Users can eliminate the clutter of spreadsheets and manual processes. Their ready-to-use chart of account templates acts as your digital filing cabinets. You can seamlessly organize and simplify the management of expenses, revenue, assets, liabilities, and more. 

Key Feature Highlights 

  • Automated processes: Generate invoices, collect rent online, track expenses, and reconcile bank accounts automatically, saving you time and reducing errors.
  • Comprehensive accounting: Manage your chart of accounts, generate financial statements, and access custom reports to stay on top of your finances.
  • Unique integrations: Sync with QuickBooks Online for a seamless accounting experience or keep your existing systems if they work best for you.
  • User-friendly interface: No training is needed to start using DoorLoop, making it perfect for busy landlords and property managers.
  • Scalability: Manage any portfolio size, from single units to hundreds of thousands of properties, in 100+ countries. 
Real estate software for investors -CTA

Sage Intacct 

Sage-Intacct - Real Estate software example for startup investors

Sage is a reliable alternative and a tough competitor for the best real estate accounting software on this list. Its customization options allow you to tailor the platform to your unique workflow, adding industry-specific fields, importing data seamlessly, and automating routine tasks. This translates into powerful insights at your fingertips. You get filtered data by clients, properties, income, or any relevant factor, and generate in-depth reports that help informed decision-making.

While the interface may initially seem traditional, Sage's extensive support network ensures a smooth transition. Its resources, including webinars, comprehensive guides, and instructor-led courses, let users quickly master the platform and unlock its full potential. 

Key Feature Highlights 

  • Streamlined Accounting: Automate tasks like invoicing, expense tracking, and financial reporting, saving you time and effort.
  • Property Management: Track leases, rent payments, maintenance requests, and tenant communications in one central location.
  • Tax Compliance: Stay on top of ever-changing tax regulations with built-in compliance tools and features.
  • Financial Insights: Gain valuable insights into your financial performance with comprehensive reports and analytics.
  • Collaboration: Share data and work together with your accountant or bookkeeper in real-time. 

Quicken 

Quicken - Real Estate software example for startup investors

While Quicken primarily caters to personal finance management, its "Home & Business" editions offer functionalities relevant to real estate accounting. This version allows landlords to track rental income and expenses, generate reports on property performance, manage tenant information, and even automate rent collection. 

However, it lacks the advanced features of dedicated real estate accounting software, such as property management tools, depreciation tracking, and compliance with industry regulations. Quicken can be a budget-friendly option for small landlords managing a few properties, but its limitations make it less suitable for larger portfolios or complex accounting requirements.   

Key Feature Highlights 

  • Portfolio Tracking: Monitor multiple properties, including single-family homes, multi-units, and even commercial ventures. See overall income, occupancy, market value, and cash flow, with detailed breakdowns for each property.
  • Ultimate Tax Toolbox: Generate Schedule E and other tax reports effortlessly, simplifying year-end preparation. Upload data directly to TurboTax for seamless filing.
  • Streamlined Management: Track income, expenses, and tenant information, and generate financial reports all in one place. Invoice tenants and accept online payments through integrated tools.
  • Comprehensive Reporting: Access customizable reports on income, expenses, profitability, and more. Identify trends, analyze performance, and make informed investment decisions.
  • Unified Financial Picture: Manage both personal and rental finances within the same platform, giving you a complete view of your overall finances. 

Property Matrix 

Property-Matrix - Real Estate software example for startup investors

Property Matrix streamlines property management and real estate accounting with its user-friendly interface and robust features. Designed for property managers and owners, it also benefits tenants through convenient functionalities.

Powerful automation capabilities boost efficiency by streamlining tasks like scheduling, maintenance, and online rent collection through checks, credit cards, and ACH. Integrated accounting tools handle complex financial workflows, including multi-property bookkeeping, detailed transaction histories, and customizable owner statements.

Property Matrix allows data collection through custom fields, automated workflows, and tenant/staff information gathering. Generate automated actions based on specific conditions, like creating maintenance requests upon tenant move-out or sending payment confirmation emails. 

Key Feature Highlights 

  • Centralized Financial Management: Track income, expenses, and tenant ledgers across all properties from a single dashboard, offering real-time financial visibility.
  • Automated Workflows: Automate rent collection, late fee calculations, and payment reconciliations, saving time and reducing errors.
  • Customizable Reporting: Generate detailed reports on income, expenses, tenant activity, and more, providing valuable insights for strategic decision-making.
  • Integrated Maintenance Management: Streamline repair requests and work orders, ensuring timely and efficient property maintenance. 

Hemlane 

Hemlane - Real Estate software example for startup investors

Hemlane isn't primarily a real estate accounting software, though it does offer some financial management features. Its focus on self-managing landlords shines through with marketing tools for effortless advertising and applicant screening with credit, criminal, and eviction checks. 

Additionally, optional access to local property management agents adds on-demand support for tasks like showings and inspections. Hemlane streamlines finances, simplifies tenant communication, and allows users to manage rentals like a pro, all from one platform.  

It's a comprehensive cloud-based property management platform designed to streamline the entire rental lifecycle for landlords, property managers, and investors. While it doesn't handle in-depth accounting like dedicated software, it does cover various financial aspects. 

Key Feature Highlights 

  • Rent collection: Hemlane facilitates online rent payments, automates late fee calculations, and generates income and expense reports.
  • Lease tracking: It keeps track of lease terms, renewal dates, and rent increases, sending timely notifications to both parties.
  • Document storage: It securely stores lease agreements, financial statements, and other property-related documents for easy access and reference.  

Xendoo 

Xendoo - Real Estate software example for startup investors

While Xendoo isn't a real estate accounting software in the first place, it offers features and integrations that can be highly beneficial for the industry. Its core focus lies in providing virtual bookkeeping and accounting solutions for small businesses, including those in real estate. 

Xendoo provides real estate businesses with tailor-made financial management solutions. Its intuitive platform, coupled with expert guidance, addresses industry-specific needs across the property spectrum. Understanding the intricacies of transactions, taxes, expenses, and rental income, Xendoo's professionals streamline financial compliance and ensure accurate reporting. 

Key Feature Highlights 

  • Dedicated accounting team: Xendoo assigns you a personal bookkeeper, CPA, and accountant, ensuring your finances receive expert attention.
  • Seamless integration: The service works with popular accounting software like Xero and QuickBooks, making setup a breeze.
  • Real-time financial visibility: Access custom dashboards and monthly reports to stay informed about your financial health.
  • Stress-free compliance: Xendoo takes care of all tax filings and ensures your books meet all regulations.
  • Scalable plans: Choose a plan that fits your business size and needs, with options for solo agents and larger teams.

TenantCloud 

TenantCloud - Real Estate software example for startup investors

TenantCloud is one of the best real estate accounting software with cloud-based features designed to streamline rental businesses. For tenants, TenantCloud streamlines rent payments through automated recurring schedules. Secure credit and debit card transactions via Stripe are available for a small fee, while Dwolla offers free ACH transfers. This seamless online payment system ensures timely rent collection and eliminates late payments.

Landlords benefit from not only faster online rent collection but also simplified accounting processes. TenantCloud allows users to set up flexible lease payment terms, including shared leases and partial payments. Automated late fees and invoice generation further reduce administrative burdens. These features free landlords to focus on more critical tasks.

It supports informed decision-making with comprehensive financial and tax reports. Additionally, it generates valuable documents, such as tenant, property, and lease statements, keeping all parties informed and organized. 

Key Feature Highlights 

  • Online rent collection & lease agreements: Securely accept rent payments online through various channels, reducing late fees and streamlining cash flow. Create and store digital lease agreements, eliminating paper clutter and simplifying amendments. 
  • Automated accounting: Generate automatic journal entries for income, expenses, and tenant deposits, minimizing manual data entry and bookkeeping errors.
  • Financial reporting: Access real-time insights into income, expenses, and profitability of individual properties or your entire portfolio through customizable reports. 
  • Simplified maintenance requests: Manage and track maintenance requests online, improving communication and response time. 
  • Tenant communication tools: Streamline communication with tenants through online messaging, announcement boards, and email integrations.  

RealPage 

RealPage - Real Estate software example for startup investors

RealPage provides property managers with a feature-rich web platform that simplifies both residential and commercial accounting. Its integrated rent payment service accepts credit/debit cards, cash/money orders, and mailed checks with real-time scanning.

Beyond real estate accounting, RealPage's corporate financial suite streamlines time-consuming tasks. Expense management tools simplify purchase orders, payments, and invoice matching, while customizable approval workflows and spending restrictions prevent overruns. Job cost and replacement reserve features provide detailed cost breakdowns for renovations. Daily bank feed imports ensure seamless reconciliation with your general ledger.

For comprehensive financial insights, RealPage offers flexible reporting, including detailed/summarized reports and crucial rolling forecasts for budgeting season. 

Key Feature Highlights 

  • Streamlined workflows: Automate routine tasks like rent collection, payable processing, and bank reconciliation, saving time and reducing errors.
  • 360-degree visibility: Gain detailed insights into your portfolio performance, from individual units to entire asset classes, with customizable reports and dashboards.
  • Integrated solutions: RealPage seamlessly integrates with its other property management and investment management tools, offering a unified platform for all your needs.
  • Scalability: Whether you manage a single property or a vast portfolio, RealPage adapts to your size and complexity, ensuring efficient operations.
  • Unique features: RealPage boasts some unique features like automated financial close management, job cost tracking for renovations, and corporate accounting solutions specifically designed for complex real estate businesses. 

Build a Custom Real Estate Accounting Solution With Us 

The right accounting software streamlines processes, boosts efficiency, and provides invaluable insights for growth. However, building a robust solution like this takes enough research and reliable software development support. This list of 14 best real estate accounting software, each with its unique strengths, offers a starting point for your research. 

With the right financial partner by your side, you'll be well-equipped to navigate the world of real estate and build a thriving business for years to come. At Narola Infotech we provide real estate software development services and guidance that drive results in real-time. Our progressive team of 350+ experts holds the perfect niche experience, creativity, and skills to execute your software plans. Our work ranges across various business sizes and complexities. If you have a project to accomplish, feel free to reach out. 

Frequently Asked Questions (FAQ)

See the answers to some of our most commonly asked questions below.

There are 3 types of software: General accounting software, Real estate-specific software, Free vs. paid software

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