Property management isn’t just about dealing with tenants and maintenance issues. At its heart, effective property management requires efficient financial management, and this is where accounting software steps in. The commercial property management software market is full of fantastic options for landlords to make accounting easier and more efficient. This article will take a deep dive into these products to help landlords choose the best accounting software suited to their needs and parameters.
1. QuickBooks
One of the most widely recognized names in this field, QuickBooks offers a comprehensive solution for property managers and landlords alike. The software seamlessly integrates with a host of financial management tools and can be easily customized to suit the property-related business model. From tracking and managing rentals, recording transactions, to creating customized reports – QuickBooks can handle it all. This feature-rich application can bring a whole new degree of efficiency to the financial management side of property management.
2. Rentec Direct
Rentec Direct is another accounting software that has made a significant mark in the property management scene. Landlords appreciate the software’s easy-to-use interface and robust financial tracking features. Rentec Direct also allows property managers to collect rent online, manage tenants’ records, and print checks right out of the software, making it an all-in-one property management solution.
3. Buildium
Buildium is popular among property managers for its range of financial management features that go beyond basic accounting. In addition to rent tracking and financial reporting, Buildium also offers digital lease agreements, online tenant applications, and a portal for tenants to pay rent and submit service requests. Its ability to manage a large number of properties makes it an excellent software for landlords with a broad portfolio.
4. AppFolio Property Manager
As part of a suite of commercial property management software solutions, AppFolio Property Manager proves to be a reliable assistant for both residential and commercial landlords. The software provides extensive online servicing, including advertising vacancies, online applications, background checks, and online payments. Its extensive accounting features, like real-time financial reporting and automated replies, make financial management a breeze.
5. Propertyware
Propertyware is a cloud-based software that brings together every functional and financial aspect of property management. It aids landlords in addressing maintenance requests, marketing vacancies, screening potential tenants, and, most importantly, handling finances. Propertyware provides excellent support for tenant and lease tracking, budgeting, and property accounting – all essential features that empower landlords to manage their property portfolio efficiently.
6. Quicken Rental Property Manager
Although Quicken has exited from the market, its Rental Property Manager tool remains highly respected among property management experts. The software offers comprehensive budgeting, tracking, and reporting features. With this tool, landlords can handle multiple properties, track their income and expenses, and in short, keep finger-tight control over their property-related finances.
In conclusion, with all these excellent accounting software options on offer, landlords now have the flexibility and choices to manage their property-related finances more efficiently. Whether you’re a landlord with a single property to manage or a professional property manager with hundreds of properties in your portfolio, there’s a commercial property management software available to suit your needs. Remember, the key lies in understanding your specific needs and choosing the software that aligns best with your property management and financial goals.