Do you need property management accounting software for your rental property portfolio?
If this is the case, you will require good software that can solve a wide range of issues.
Beginning with basic accounting tasks such as recording rent payments, tracking deposits, and processing payroll.
To managing work orders, tenant management and screening, automated rent collection, and portals for both tenants and owners to manage dozens of tasks more efficiently.
This article has organized the five best real estate management accounting softwares for property managers and landlords on the market.
CoStar Real Estate Manager
CoStar Lease Accounting Software analyzes and categorizes leases to help businesses streamline processes such as new lease accounting, rent obligations, percentage calculations, tax indexing, adjustment, and more.
The platform includes a data import tool that allows businesses to migrate data, create amortization schedules, and receive renewal or status update notifications.
Lease Accounting Software includes data management capabilities that allow users to manage real estate equipment/assets, accounting workflow, and audit trail. Customizable charges, multi-currency conversion, planned rent revision, account receivables, reminders, and other features are available.
Furthermore, the rent calculation module allows for automated monthly, quarterly, or annual breakpoint generation, transaction exclusion, and due payment processing.
Managers can use Lease Accounting Software to generate forecast or summary reports, view amortization details, and handle journal entry restatements.
Pricing is available upon request, and support is available by phone, email, and other online methods.
Features:
- Management Contact
- For Real Estate Agents
- Tax Administration
- Processing of Payments
- Leases for Retail
- Property Administration
- For Traders and Investors
- Calculation of Late Fees
- Financial Administration
- Analysis of Cash Flows
- Portfolio Administration
- Accounting Firms
- Strategic Thinking
- Rent Monitoring
Sage 300 Construction and Real Estate Software
Sage 300 Construction and Real Estate, formerly Sage Timberline Office, offers the most comprehensive solution for managing the entire project or property lifecycle with confidence, precision, and efficiency to contractors, developers, and property managers.
Sage 300 Construction and Real Estate, the market leader in end-to-end construction and property management, includes functionality for reducing risk, improving business visibility, and managing a full project or property portfolio.
Users can expect to find standard accounting modules such as job costing, accounts payable, accounts receivable, general ledger, and payroll processing, all tailored to the specific needs of the construction industry.
Sage’s network of business partners, consultants, and support representatives all have decades of experience assisting businesses in improving construction financial management processes and results.
MRI Software
MRI Software offers a variety of real estate applications to assist property owners, investors, and occupiers with accounting, investment modeling, property management, and analytics.
Platform X is included, allowing businesses to secure property data in a centralized repository with a single sign-on (SSO).
Real estate lifecycle management, financial accounting, commercial leasing, retail management, client management, a tenant portal, and other features are available with MRI Software. It includes an investment management module that allows users to manage portfolio performance through graphical dashboards.
It also includes MRI FM, which allows professionals to schedule maintenance work orders, communicate with contractors, track assets, and more.
Administrators can use a space management solution to help with floor planning on CAD layouts and seating charts. Pricing can be obtained upon request.
REDA Acumatica Property Management Software
Acumatica Property Management is a robust ERP software solution tailored to real estate developers and property managers.
From pre-development costs to final funding, project construction to property management, the REDA solution handles all aspects of real estate development.
REDA Software makes use of the Acumatica Cloud ERP platform infrastructure of core components that run in the background, allowing users to concentrate on real estate development workflows, productivity, and business logic.
REDA Software, powered by Acumatica Cloud ERP, is an all-in-one accounting software solution that combines comprehensive project cost control, integrated property management, and a flexible general ledger.
Acumatica provides a modern full-function enterprise resource planning (ERP) solution that includes a wide range of integrated business functions such as financials, customer relationship management, and project management, as well as a true, scalable, and mobile cloud platform from which to run your real estate development company.
Shape
Shape’s cloud-based solution includes tools for managing online marketing and promotions, collecting leads from online sources, organizing sales pipelines, connecting with customers, and automating daily tasks. Shape is appropriate for businesses in the legal, real estate, mortgage, insurance, education, hvac, and construction industries.
Shape’s collaboration tools make it easier to share project information within and across departments and user roles.
It includes a centralized repository where you can keep all of your prospects, accounts, contacts, documents, photos, billing and transactions, and e-signature agreements in one place.
Shape’s customizable dashboard allows users to monitor department-specific performance indicators and investigate business-related trends.
Call scripting, drip campaign automation, task scheduling, reporting, and integration with Outlook and Gmail are also available.
Features:
- Management of the Sales Pipeline
- Workflow Administration
- Reporting/Analytics
- Calendar Administration
- Lead Certification
- Task Administration
- Calendar/Reminder System for Segmentation
- Management Contact
- Storage of Documents
- Forecasting
- Integration of Internal Chat
- Automation of Marketing
- Quotes/Estimates
Conclusion
Accounting is only the beginning of the challenges that come with running a property management company of any size.
Marketing the properties, managing work orders and other tenant requests, and communicating with and paying your client owners are all part of the job (among other things).
The great thing about good rental property management software is that it takes care of all of this and more.
