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The total value of the world's property was $379.7 trillion by the end of 2022. The US and Europe account for 47% of that.
The value of software to keep that money in check is also rising. The global property management software market was projected to go from $24.18 billion in 2024 to $50.79 billion in 2032.
Reading property software reviews isn't always enough to pick the right option. They may not fit your business size. They may also not mention bugs or missing features.
Read on to learn about the best property management accounting software in 2024.
Xero
Xero is easy to set up and integrate with apps you already have such as Gusto payroll. Professional advisory services mean you'll be set up in no time.
The property management tools it features let you do everything on a single platform. They include:
- Invoicing
- Bank reconciliation
- Financial reporting
Automatic functions save time and effort. That includes an automatic data capture utility known as Hubdoc that makes record keeping much easier.
Buildium
Buildium is one of the best cloud-based property management tools. Its features include:
- Rent cycle management
- Vacancy cycle management
- Online tenant screening
- Maintenance and work order systems
- Tenant and owner portals
- Detailed financial reporting and other accounting features
The platform makes every part of the property management process easier, making it more than just accounting software for property managers. Certain features may be locked behind higher prices.
Yardi Breeze
Yardi Breeze is an effective real estate management software for developers or those with a unique property type. It works for:
- Residential
- Commercial
- Self-storage
- Manufactured housing
- Affordable housing
Cloud-based accessibility lets you manage your property anywhere. You can also use almost any device. Yardi Breeze's features include:
- Financial packet generation
- Online payment portals
- Electronic maintenance requests
- SMS text and email communication
- Maintenance task tracking
- Assignment of work orders
- Document attachment and maintenance
YardiBreeze may have a lot of features to get used to, but it offers tutorials and live support. A robust security team with over 30 years of experience helps prevent data breaches.
Stessa
Stessa is designed specifically for residential rental property owners. It bills itself as an asset management software.
Its features focus on helping you track earnings and expenses. These include:
- Automated accounting tools
- Tenant screening features
- Online rent collection
- Tax center
Stessa also focuses on keeping this financial data secure with multi-layer encryption.
FreshBooks
Freshbooks is purely property management accounting software. It offers several features that save time in and accelerate payments. These include:
- Time entry details
- Customizable estimates
- Late payment fees and reminders
- In-depth financial reporting
- Instant payment acceptance options
FreshBooks is affordable for property owners who only want help with accounting. It's not a one-size-meets-all solution. Even being one of the more affordable property accounting solutions doesn't mean it's perfect. Cheaper plans can lock you out of important features.
The Best Way to Go Beyond Property Management Accounting Software
A few of the best options for property management accounting software include Xero, Buldium, YardiBreeze, Stessa, and FreshBooks.
At Austin Property Management, we've combined our backgrounds in tax and accounting with our backgrounds in real estate. That allows us to spot details that could lead to increased expense and liability for property owners.
Our client-first philosophy means we're always accessible. Contact us for full property management today.
