Owning rental properties can be highly lucrative. It can also be a lot of work. In addition to the lawn work, maintenance, and dealing with tenants, you have to do many accounting and bookwork. For this reason, many who rent out properties rely on accounting software to track items, create receipts and reports, and keep track of information for tax season. This article will further explore accounting software for property management.
The right accounting software can save you time and money and give you a quick glimpse into your real estate portfolio. It allows you to monitor and account for rental property depreciation accurately. With so many options available, finding the best accounting software for property management can be challenging. Below are some efficient possibilities to consider.
1. NetSuite Accounting Software
Oracle NetSuite accounting software for property managers allows you to manage tenants, properties, and units directly. It will enable you to streamline property management, including your interactions with owners, communities, and tenants.
Oracle NetSuite seamlessly integrates with other software, making it easy for you to create and send receipts for specific properties and update your information in real time. Oracle’s NetSuite property management accounting software simplifies community management. These streamlined processes include addressing tenant complaints and maintenance requests, sending bulk SMS messages in multiple languages, logging incoming tickets, and assigning tickets to the appropriate agents to ensure they are quickly executed.
Property management is a breeze as NetSuite makes it easy to monitor and manage maintenance. It helps you keep track of projects down to the individual units. With its interactive presentation of all segments, NetSuite makes sales navigation simple. You can compose complex reports to illustrate how your property or building functions, monitor market trends, and track performance. NetSuite accounting software for property managers is ideal for landlords who are looking to scale without hiccups. It is a solid option for businesses looking to avoid data silos by sharing information with those who need it.
AppFolio has impressive advanced features that allow landlords to do their accounting, whether beginners or advanced bookkeepers. Landlords like this software because it will enable them to pay for the parts they need. AppFolio has several advanced features tailored to the needs of property managers. Its mobile app allows landlords and property managers to access the information they need when they need it.
AppFolio was uniquely designed for landlords looking to grow and operate their businesses. It comes with integrations allowing it to be tailored to meet the needs of different-sized properties. The focus of AppFolio is properties with at least 200 units.
Appfolio is all-inclusive accounting software for property managers. With AppFolio, you get marketing tools to simplify online payments, streamline communication, and ensure maintenance is done on time and within budget. Additionally, you get access to tools like website creation, tenant screening, a maintenance call center, and more.
3. Rentec Direct
Rentec Direct is a simplified way to keep track of your rental property management accurately. It is designed for multiple users. The primary account holder can create many user accounts that others can access with their unique password and username.
Rentec Direct has an intuitive mobile app for integrated communication. It offers premium features for landlords and managers. The downside is that Rentec Direct is limited in the number of integrations it works well with.
Some of the features of Rentec Direct include a general ledger and financial reports with QuickBooks integration. The software streamlines the way your tenants pay rent. It turns it into one step that takes renters about 30 seconds. Rentec Direct has online portals for tenants, custom websites and custom hosting, electronic 1099 filing, utility billing integration, background screening, and more.
The accounting software best for your property management portfolio
As lucrative as property management can be, it is also complicated and time-consuming. However, if you use the right software, you can take a lot of the frustration out of the process. Fusion CPA can help you. Our CPAs specialize in software integration to suit your business’s unique needs. Learn more about the services we offer and how we can help you make the most of your business finances.
This blog article is not intended to be the rendering of legal, accounting, tax advice or other professional services. Articles are based on current or proposed tax rules at the time they are written and older posts are not updated for tax rule changes. We expressly disclaim all liability in regard to actions taken or not taken based on the contents of this blog as well as the use or interpretation of this information. Information provided on this website is not all-inclusive and such information should not be relied upon as being all-inclusive.