At Anabode, we work tirelessly to make property rental easier for landlords and property managers. Our platform allows you to track your income and expenses efficiently across single units or whole portfolios. This compiled data can then be uploaded into specialist accounting software to generate a clear financial overview of your business.
Without adequate systems to track money moving in and out, running a successful property rental business becomes complicated. This is why innovative property management and accounting tools are game-changers in the real estate industry. In this post, we look at some of the best accounting software for landlords and property managers.
QuickBooks Online enables landlords to track the health of their businesses. It offers a precise and user-friendly accounting system for managers with no background in accounting. Although designed to run general business, it is one of the most popular accounting solutions used by landlords and property managers. Some of its best features for property management include;
- Multiple property/company files to manage individual properties
- Cash flow tracking
- Debt and interest balance tracking
- Connecting bank accounts for management of invoices and payment of bills
- Automated rent invoices to help avoid late rent payments.
- Built-In Lending system for loans for business owners
- Tax calculations and basic reporting
- Cloud accounting software for accessibility from anywhere
QuickBooks Online offers accounting options for sole traders and small or medium-sized companies from £12 per month.
Xero also is a popular accounting software used by companies to manage their finances. Xero offers comprehensive accounting tools for landlords and real estate agents to run their businesses with ease. Xero gives property managers the possibility to;
- Connect their bank accounts so they can track and reconcile income and expenses
- Program automated rent invoices to help avoid late rent payments
- Access anywhere on the cloud
- Grant access for team members to access and edit data
- Benefit from advanced reporting
- Have a clear financial overview of overdue rent and cash flow with a detailed dashboard.
Xero offers pricing plans from £10 that are customizable based on the size of your portfolio.
Free Agent is award-winning accounting software for smaller to simplify the day-to-day running of their finances. Free Agent does not have specific property management features but, it has full accounting functions. It offers a user-friendly interface that gives business owners insights to help them make better business decisions.
Some of the features provided include;
- Invoice, expense, and project tracking
- Accounting reports
- Self-assessment and VAT filling
- Bank feed connections and integrations
- Admin to-do lists
- Insight radar for reminders
- Mobile apps
For landlords and property managers looking strictly for bookkeeping solutions, Free Agent is a good option. It makes up for its lack of property management features by integrating data from property management platforms like Anabode.
There you have it. Some of the best software for landlords and property managers. Pairing these with an efficient property management tool like Anabode guarantees more efficient financial reporting and better business decisions.