Top 10 Rental Property Accounting Software in 2024

Property management accounting software has come a long way from spreadsheets.

There are dedicated solutions available now that offer the unique tools you need not only to manage your rental property accounting but also to optimize, streamline, and even automate many other tasks.

Here's what modern property accounting software offers:

• Tenant portals allow tenants to communicate directly with you on maintenance requests and perform other tasks.
• Work order management enable you to track, edit, and complete orders and pay vendors all from within the software itself.
• Customizable lease forms and improved documentation help streamline processes.
• Marketing tools, websites, and resident screening make the entire process of getting new quality tenants easier.
• Tenant and property databases allow you to keep each entity separate (a common workaround necessary in QuickBooks).
• Automated rent payments make collection payments easy.
• Accounting features like multiple bank accounts and a chart of accounts keep things like rent payments and deposits separate and organized.

Now, let's discuss the best Rental Property Accounting Software of 2024.

Disclaimer: This post highlights certain features on each platform. This does not mean the other platforms do not have those features. Please do your own research before making any decisions.

10 Best Rental Property Accounting Software

There are a lot of different types of rental property management software out there in addition to standard all-encompassing property management software.

That’s why, when you choose the right property management software for your business, look for a solution that specializes in rental property management and accounting.

Best Overall Rental Property Accounting Software

1. DoorLoop

Pros: Extensive features and easy-to-use software.

Cons: No free trial.

DoorLoop is the best accounting software, dedicated, full-service rental property management software tool that offers everything you need to streamline and optimize your rental property management or investing business.

Made to be highly intuitive and easy to use, DoorLoop includes a full suite of features designed by property managers for property managers.

Features include:

• Everything you need for your property accounting, including custom reports and a variety of payment methods like ACH and credit cards
• Remote work order management that lets you handle maintenance requests, assign vendors to a job, edit a work order, and communicate directly with tenants from within the software
• Built-in CRM and tenant portal that allow you to collect rent, offer renters' insurance, and accept applications
• Owner portal that gives access to reports and even allows you to print checks
• Marketing features that allow you to list properties and even do tenant screening within the software

Save yourself time and hassle by centralizing your processes with easy documentation, automation, work order management, and robust accounting features.

DoorLoop Pricing

DoorLoop’s full-service rental property accounting software has no training or support fees whatsoever. Pricing starts as low as $59/month for your first 20 units. DoorLoop has a calculator to help you determine which plan is best for you based on your business needs as well.

Best Accounting Features

2. Propertyware

Pros: Great accounting features that you can customize.

Cons: Pricing follows a per-unit model with a monthly minimum.

Propertyware is a complete property management software with powerful accounting features like custom reporting, custom field options, and automatic payment reminders.

It offers some of the most detailed and comprehensive reporting features on this list too.

Features include:

• Good accounting, including custom reporting
• Work order management
• Email communication options for both tenants and owners
• Owner portal and reports

Propertyware Pricing

Propertyware’s pricing model is a bit different. Instead of a per-unit pricing model or flat fee, the company uses a per-unit model with a monthly minimum.

Their basic plan starts at $1 per unit with a $250 minimum.

Propertyware also has a one-time onboarding fee, equal to 2x your monthly price. So, if you’re on the $250/month minimum plan, you’d pay $500 one time for onboarding.

Best Customizable Settings

3. Rent Manager

Pros: Great for customization and robust features.

Cons: Pricing is not listed publicly.

Rent Manager is a dedicated rental property management software with a robust set of features. It has good accessibility, cloud-based desktop and mobile app versions, and great customization settings.

The software's feature set makes it a good fit for beginners and more advanced users alike.

Features include:

• Custom reporting
• Automated rent payments
• Custom training and data migration
• Automatic bank reconciliation
• A large number of integrations

Rent Manager Pricing

Rent Manager offers pricing options for each version of its software, including a cloud-based and desktop version based on per-unit pricing.

However, the company doesn't list its pricing publicly, so you’ll need to contact Rent Manager to get more information.

Best for Small Portfolios (10 or fewer units)

4. Hemlane

Pros: Leasing tools like local agent matching.

Cons: Units are charged additionally after the first.

Hemlane is designed for rental property management and offers unique features, such as being able to match you with local agents. If you’re uniquely concerned with placement, Hemlane is worth considering for its leasing tools.

Features include:

• Good leasing tools, such as tenant screening
• Other useful local support features
• Work order management
• Online rent payments

Hemlane Pricing

Hemlane’s Basic plan starts at $30 per month with $2 per unit additional after the first. That means if you manage even 20 units, Hemlane will be $70 per month.

The premium-tier Complete plan starts at $60 per month but costs $32 per property after the first.

Hemlane’s enterprise pricing model comes partly due to its unique on-location support features, which other rental property software solutions don’t offer.

5. Rentroom

Pros: Has a great cash reconciliation feature, good community features, and a free 1 month trial.

Cons: Max plan starts at $249.99 per month.

Rentroom is a complete property management tool geared toward rental properties. The software is easy to use and has a convenient cash reconciliation function and other unique community features.

Features include:

• Work order management, including tenant maintenance requests from right within the software
• Online rent collection, including reminders
• Tenant portal
• Basic accounting features like cash reconciliation (but limited reporting)

Rentroom Pricing

Rentroom starts at $49.99 per month for up to 15 tenants. If you have more tenants or need more features, you'll have to upgrade to its basic that start at $74.99 per month.

6. SimplifyEm

Pros: Great for rent reminders and tenant communication.

Cons: Pricing model is based on the number of units you have.

SimplifyEm is a property management software geared toward small- to mid-sized businesses. Its communication and reminders features are particularly lauded as making the process of creating invoices and collecting and tracking payments easier.

Like most of the tools on this list, it also integrates with dedicated accounting software like QuickBooks for more functionality.

Features include:

• Scheduling and reminders
• Lease tracking
• Work order and vendor management
• Document tracking
• Community features like group email reminders and alerts

SimplifyEm Pricing

SimplifyEm’s pricing model is based on the number of units you have. Its lowest plan begins at $35 per month for up to 10 units and then $110 for up to 100 units per month. This increases all the way up to $2,010 per month for 2,000 units.

Best Affordable Plan

7. TenantCloud

Pros: Super affordable for those starting out.

Cons: Limited payment choices.

TenantCloud is one of the most affordable tools on this list.

TenantCloud's features improve as you move to premium plans.

Features include:

• Reporting
• Work order management
• Online rent payments
• Insurance reminders
• Vendor payments

TenantCloud Pricing

TenantCloud's lowest-level paid tier costs $15 per month for basic features. Its Growth plan costs $40 per month.

Best Multi-User Access

8. Rentec Direct

Pros: Great features with a mobile app.

Cons: Interface is dated.

Rentec Direct is a long-time player with all-around solid features, a mobile app, and multi-user access.

There could be situations where multiple people are involved with and need to look at accounting. Rentec Direct allows for multiple users and has a robust feature list.

Features include:

• Mobile app
• Work order management with tenant maintenance requests and vendor payments
• Tenant screening and lead tracking
• Built-in tenant communication, including SMS text and email
• Robust reporting

Rentec Direct Pricing

Rentec Direct has competitive pricing, with its basic Rentec PRO plan starting at $45 per month, and covers 10 units.

For 50 units it costs just $65 per month, and 500 units cost $550 per month.

In addition to its basic pricing tier, Rentec Direct offers a tenant screening add-on for between $7 per month with its Basic Screening Package and $15 for the Premium Screening Package.

Best for Larger Portfolios (50+ units)

9. Buildium

Pros: Great features and training.

Cons: No QuickBooks integration as of July 2024.

Buildium has a good balance of features, ease of use, and affordable pricing, making it an all-around pick. The company also has great training and online support.

Features include, but are not limited to:

• Online rent payments
• Custom reporting tools
• Automated monthly bank reconciliation
• A large number of integrations, such as Zillow and Apartments.com

Buildium Pricing

Please visit Buildium’s website to see their latest prices and packages as the information below may have changed.

Best for Integrations

10. Rentmoji

Pros: Has a sleek interface that’s user friendly.

Cons: Pricing is not listed publicly as of August 2024.

Rentmoji is a cloud-based rental property management solution geared toward small- and mid-sized businesses.

It's known for having a sleek interface that’s easy to use, a great mobile app, and a large number of integrations.

Users report lacking the ability to customize key features, but they say Rentmoji's customer service is great.

Features include:

• Mobile app that allows you to track maintenance requests and rent payments and tenants to pay their rent
• Automated rent payments
• Work order management and vendor portal that allows users to track maintenance tasks
• A large number of integrations

Rentmoji Pricing

Rentmoji’s pricing isn’t public, so you’ll need to schedule a demo to get more information and see if it’s a fit.

Property Accounting Software

Whether you need robust accounting features built with property managers and owners in mind or you're looking for a full suite of tools to optimize your entire operation, our very own DoorLoop has your back.

Let DoorLoop help streamline your operation by bringing everything together into one easy-to-use platform. Learn more by scheduling a free demo.