Real estate management accounting software assists property managers, landlords and brokers in keeping on top of their finances by providing financial reporting, rental bookkeeping and tax filing features. This type of solution typically operates cloud-basedly with features that streamline rental booking, document storage, tenant management rent collection maintenance tracking lease compliance.
Find the right real estate accounting software requires understanding your operational needs and budget. The ideal accounting solution combines property management features with financial features in one platform that’s user-friendly, easily integrated with other tools, and boasts various reporting options such as customizable dashboards and multi-entity support for actionable insights.
Buildium, iRentAssure, REI Hub and Sage Intacct for Real Estate are among the leading real estate accounting solutions, providing small to mid-sized brokerages with access to features that increase efficiency and productivity such as rental booking, automatic bank feeds and flexible pricing – as well as being compatible with most mobile devices for convenient on-the-go access.
Zoho Books provides flexible plans ranging from free to $275 a month that make it the ideal solution for small businesses, offering features such as automated transaction matching and invoicing, customizable chart of accounts, integration with CRM apps like CRM, expense tracking and client chat as well as its simple interface and time-tracking capabilities. Furthermore, its collaborative features improve team efficiency.
Sage Intacct for Real Estate provides larger brokerages and growing portfolios with an integrated, fully customizable, flexible, scalable real estate accounting solution with multicurrency support and multiple language translation. It can be deployed across multiple locations for seamless client experiences while supporting multiple currencies and languages for seamless usage experience. Sage Intacct features an impressive reporting engine for analyzing performance KPIs while adhering to ASC 842 and IFRS 16 guidelines, among many other capabilities.
TenantCloud, another comprehensive platform designed to automate booking and rent collection while offering landlords an all-in-one solution for document storage, communications and payments is intended to simplify leasing requests with online rental applications, digital signatures and eviction management – free for tenants but starting at $12 monthly cost for landlords.
Other solutions such as REI Hub allow investors to manage short-term rentals, long-term rentals and commercial properties with ease. It automates bookkeeping through GPS mileage tracker and receipt scanner integration as well as bank feeds to import up to two years’ of transactions for quick reconciliations. Customizable dashboards and visual analytics offer actionable insights, while automated income and expense tracking reduces data entry errors while increasing end-of-year deductions. Rental management software provided by RealPage simplifies tenant information management, automates reminders and blocks partial payments automatically. Compatible with major mobile devices and integrating into business applications via an open API interface, its support comes backed up with industry-leading customer service. Xendo’s cloud-based financial management service for real estate developers and agents is widely known for its comprehensive invoicing, real-time bookkeeping and customizable reports, along with its dedicated customer support. Users benefit from expert guidance during every step of their financial management journey in keeping track of expenses, bookkeeping tasks, tax compliance and tax filing compliance.