Contents

Real estate investment accounting software includes a number of great options.

(Yep, there’s more than just QuickBooks. *gasp*)

Options that can not only help you make collecting rent easier and more efficient, but:

  • Track expenses
  • Run useful reports
  • And manage all your accounting needs

But also, in the case of an all-in-one property management software solution:

  • Streamline your leasing process
  • Make managing maintenance orders simpler than ever
  • Centralize all your tenant communications
  • And even automate many simple tasks

You may have even run across a few options already.

The problem is it can be hard figuring out which is best for you.

Should you just go with QuickBooks? Why should you consider something else? What else is there and what can other property accounting software offer?

Below, we’ll be breaking down the most popular property accounting software tools. This will give you clarity about which might be best for you and your portfolio.

Let’s jump in.

5 of the Best Real Estate Investment Accounting Software Tools [2022 Edition]

Below is a list of our top five picks for best accounting software for real estate investors.

To make finding the right tool easier for you, we’ve organized the list below with ‘best for’ tags to help you quickly find the tools that most fit what you’re looking for.

Those include:

  • Getting started
  • Small portfolios
  • Payment reminders
  • Mobile app
  • And the best all–around solution

1. QuickBooks Online: Best for getting started

QuickBooks Online

QuickBooks is likely the first tool you thought of when considering what accounting software to use.

There are positives and negatives to QuickBooks for property management specifically, however, and it’s important to understand both.

QuickBooks is the most comprehensive accounting software there is, there isn’t really any arguing that fact. If you’re looking for an accounting feature, chances are you’ll find it in QuickBooks.

With that said, it’s not designed for property accounting’s unique needs, especially the way that tenants sit underneath properties, a fact that makes using QuickBooks for property accounting require workarounds.

Then there’s the fact that with QuickBooks, you don’t enjoy any of the other incredibly useful features such as streamlined tenant communications and maintenance order management.

With all of that said, if you just have a property or two and you’re starting your foray into real estate investing, QuickBooks can be a good option for getting started, particularly if you’re already using it for another business.

Key features

  • Comprehensive reporting
  • Expense tracking
  • Mobile app
  • Bill pay

Pricing

QuickBooks is more expensive than the average accounting software, particularly if you consider that you don’t get any of the additional features of a dedicated property management tool.

It starts out affordable, however, with a 30-day free trial and $25 monthly Simple Start plan, though that includes only one user and blocks you out of several key features.

Its Essentials plan adds in bill pay for $50 per month for three users, while their Plus plan comes in at $80 for five users and Advanced for $180 for 25 users.

2. Quicken: Best for small portfolios

Quicken

Moving on to a similar option to QuickBooks, Quicken is another dedicated accounting software.

That gives it similar pros and cons to QuickBooks, such as the fact that it has none of the valuable property management features we touched on earlier.

However, unlike QuickBooks, you can get the Home & Business edition of Quicken to get access to features that allow you to manage a small number of rental properties.

It’s only ideal if you’re an individual investor and only offers property accounting features (in addition to being expensive), but that makes it uniquely suited as a decent option for small portfolios especially if you’re already using Quicken for your personal finances.

Key features

  • Online rent payments
  • Expense tracking
  • Rental agreements
  • Basic reporting

Pricing

Quicken starts at an ultra-affordable $35.99 annually, with additional Deluxe and Premier plans offering a few additional features for $51.99 and $77.99 respectively.

However, it’s the Home & Business version that you really want as mentioned above. That comes in at a pricier $103.99 and is only offered on Windows.

3. Landlord Studio: Best for its mobile app

Landlord Studio

Landlord Studio makes the list due in part to its well-designed mobile app.

If access is important to you, and you find yourself mostly using your smartphone for your business accounting, then Landlord Studio is an option to consider.

The software as a whole offers a clean UI that is easy to navigate, though that comes at the expense of features.

It beats both QuickBooks and Quicken in terms of being designed specifically for property management, but you won’t get much other than property accounting software features, and even those are thin compared to the two proceeding tools.

It’s also worth noting that it doesn’t offer a QuickBooks Online integration, like the other two dedicated property management tools on this list.

Key features

  • Expense tracking
  • Tenant screening
  • Comprehensive reporting features

Pricing

Landlord Studio comes in at an affordable $6.99 per month for one unit and $1 per unit per month thereafter, though with greatly limited features compared to the other two property management tools on this list.

You’ll need to move up to their Scale plan for $23.99 per month and the same $1 per unit per month after the first to get multiple users.

4. SimplifyEM: Best for payment reminders

SimplifyEM

When it comes to managing properties, anything that helps you collect rent easier is a worthy mention.

SimplifyEM makes the list because it offers a useful payment reminder feature for tenants as well as a good balance of features designed specifically for property management accounting.

The one main drawback of SimplifyEM is that it’s a property accounting tool that doesn’t offer the features you’d get from an all-in-one property management tool like DoorLoop.

So, you’re missing some of the accounting features that a dedicated accounting tool like QuickBooks can give you to gain some property accounting-specific features, but they’re features you can get elsewhere as well while also getting other powerful property management features.

With that said, its useful property accounting software features help it make this list.

Key features

  • QuickBooks Online integration
  • Payment reminders
  • Online rent payments
  • Bill pay

Pricing

SimplifyEM offers a free trial version while their basic P10 plan comes in at $20 per month up to 10 units as well as P20 plan at $35 for up to 20 units and up.

You’ll need to pay for their P50 plan at $60 per month, however, to get most of their eLeasing features.

5. DoorLoop: Best all-in-one property management and accounting solution

DoorLoop Real Estate Investment Accounting Software

Our final software on this list, DoorLoop is an all-in-one property management platform designed to give you everything you need to manage your properties from one place.

As opposed to a tool like SimplifyEM or Landlord Studio, DoorLoop offers comparable– even more robust– accounting tools compared to both while also offering a laundry list of valuable features for managing your properties.

On top of that, you get it packaged with a simple-to-use UI that makes finding everything you need easy, as well as super responsive customer service as reported by users.

And if you find that while the property management-specific features are invaluable, you still want to use QuickBooks as your go-to accounting tool?

DoorLoop also offers a powerful QuickBooks Online integration that takes just minutes to set up.

Key features

  • Everything you need to manage your property accounting including automatic rent payments, easy reconciliations, comprehensive reporting, bill pay, and more
  • Convenient tenant portal that streamlines communications and gives tenants a place to handle all their responsibilities
  • Maintenance management tools to take care of works orders from beginning to end
  • Leasing tools that streamlines the tenant onboarding process such as tenant screening and eLeasing
  • And more

Pricing

DoorLoop’s starter plan comes in at an affordable $49 per month for up to 20 units.

You get nearly all of DoorLoop’s features with the basic plan, plus you can take advantage of a 30-day money-back guarantee to try it out risk-free.

Try out DoorLoop today.

Which will you choose?

A great property management tool can not only help make things easier, it can give you peace of mind knowing that you’ve got everything handled.

Having everything centralized into one convenient place in a tool like DoorLoop makes that easy.

(If you’re ready to get started, schedule a demo here, it’s free!)

No matter which real estate investment accounting software you choose, however, we hope this list helps you find something that works for you.

David Bitton

David is the co-founder & CMO of DoorLoop, a best-selling author, legal CLE speaker, and real estate investor. When he's not hanging with his three children, he's writing articles here!