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Automatic bank feeds for unlimited properties and a basic tax package at $0. Schedule E is on Manage at $144 a year.
DetailsBanking, property-level bookkeeping and a Schedule E report at $0, if you move rent into Baselane accounts.
DetailsSchedule E reports, receipt capture and mileage on every plan, with rent collection and listings, for $144 a year.
DetailsBank feeds, AI-assisted bookkeeping and Xero integration from $15 a month; free Go plan up to 3 units.
DetailsSyncs with QuickBooks and banks, files 1099s; from $50 a month.
DetailsTrust accounting (RentPost) or a full property manager suite with 1099 e-filing (Buildium).
DetailsAccounting features compared
From each company's own pricing or feature pages, checked October 22, 2026. "Not stated" means we could not find it there.
| Software | Plan with accounting | Bank import | Receipts | Tax reports | Also |
|---|---|---|---|---|---|
| Stessa | Essentials (free) | Automatic bank feeds, all plans | Smart receipt scanning: 5 a month; unlimited on Pro | Basic tax package free; Schedule E on Manage ($144 a year); CapEx report on Pro | Budgeting and pro-forma on Pro |
| Baselane | Core (free) | Built-in Baselane bank accounts | Auto-receipt matching on Smart | Accountant tax package and Schedule E on Core | AI categorization, balance sheet and cost segregation on Smart |
| Landlord Studio | Go (free, 3 units) | Pro (5 feeds), Pro Plus (20) | Smart receipt scanner, all plans | Schedule E listed with Pro | Mileage tracker on all plans; AI bookkeeping and Xero on Pro |
| RentRedi | Every plan ($144 a year, annual) | Not described | AI-powered receipt snapping | Tax-ready Schedule E reports; profit and loss | Mileage capture in the app |
| TurboTenant | Free (manual import) | Automatic on paid plans; 1 bank account on Free and Essentials | Not stated | Schedule E and Form 8825 listed; one-click tax-ready reports on Pro | Insights dashboard, loan tracking |
| TenantCloud | Pro ($600 a year) for tax tools | Bank reconciliation on Pro | Not stated | Tax reports on Pro | Transaction tags: 30, 75 or 150 by plan |
| Rentec Direct | Starter ($25 a month) | Bank sync on Pro and PM | Not stated | Not clear on pricing page | QuickBooks sync and 1099 e-file on Pro |
| RentPost | Pro ($29 a month + $1 a unit) | Not stated | Not stated | Not stated | Full trust accounting for owners |
| Buildium | Essential (from $62 a month) | Not stated | Not stated | 1099 e-filing add-on ($50 a batch + $4.50 a form) | Built for property managers |
| DoorLoop | One (from $199 a month) | Not stated | Not stated | Not stated | Accounting included in One |
What rental accounting software should do
- Track income and expenses by property, because Schedule E (Form 1040) is filled out property by property.
- Import transactions automatically from your bank, so you categorize instead of type.
- Capture receipts and attach them to the expense.
- Separate repairs from improvements. The IRS's Publication 527 tells landlords to separate the costs of repairs and improvements and keep accurate records, because improvements are depreciated rather than deducted at once.
- Produce a year-end report your tax preparer can use, ideally organized like Schedule E.
- Log mileage if you drive to your rentals (Landlord Studio and RentRedi include mileage tracking).
Cash or accrual: which accounting method?
Cash method
Report rent when you receive it and deduct expenses when you pay them. The IRS says in Publication 527 that most individual taxpayers use the cash method. Every app here works this way by default.
Accrual method
Report income when you earn it, not when you receive it, per Publication 527. More common for larger businesses; ask a tax professional before choosing it.
Tax rules your books should follow
| Item | What Publication 527 says |
|---|---|
| Advance rent | Income in the year you receive it, whatever period it covers. |
| Security deposit you plan to return | Not income when you receive it. If it is to be used as the final month's rent, it is advance rent. |
| Residential rental building | Depreciated under MACRS; residential rental property is depreciated over 27.5 years under the general system. |
| Repairs versus improvements | Keep them separate; repairs are generally deducted, improvements depreciated. |
| Where it goes | Rental income and expenses are reported on Schedule E (Form 1040), Supplemental Income and Loss. |
Summarized from IRS Publication 527, Residential Rental Property. General information, not tax advice.
Records to keep, and for how long
Keep bank statements, receipts, invoices, leases, your rent ledger and closing documents for each property. The IRS says to keep records for 3 years in most cases (longer in some situations) and to keep records relating to property until the period of limitations expires for the year you dispose of the property, because you need them to work out depreciation and your gain or loss when you sell. Software that stores receipts against each transaction makes this easier; Landlord Studio Go stores 10 documents, Pro 250 and Pro Plus unlimited.
Landlord software or general accounting software?
General small-business accounting software can track rentals, but it does not know about units, leases, tenants or deposits, so you build that structure yourself. Landlord software starts from the property and ties rent to the tenant. You can also have both: Landlord Studio integrates with Xero on Pro and Pro Plus, and Rentec Direct syncs with QuickBooks on Pro. For one or two units, a rent ledger plus a folder of receipts may be all you need.
See how these apps compare on everything else in the full landlord software comparison.
Frequently asked questions
What is the best free accounting software for rental property?
Stessa Essentials, with automatic bank feeds for unlimited properties and a basic tax package, or Baselane Core, with property-level bookkeeping and a Schedule E report. Landlord Studio Go is free for up to 3 units but leaves bank feeds to its paid plans.
What is the best accounting method for rental property?
For most individual landlords, the cash method: report rent when received and deduct expenses when paid. The IRS says most individual taxpayers use it. Ask a tax professional if your rentals are run through a business that may need the accrual method.
Which rental software produces a Schedule E report?
Baselane Core (free), Stessa Manage and Pro, RentRedi (every plan) and Landlord Studio Pro list one; TurboTenant lists Schedule E and Form 8825, with one-click tax-ready reports on Pro.
Do I need a separate bank account for my rental?
It is not required by the software, but it keeps rental money apart from personal money and makes bank imports cleaner. Baselane gives you unlimited checking accounts, which you can use one per property.
Can I use a spreadsheet instead?
Yes, for a unit or two. Track rent in a rent ledger, keep every receipt, and total expenses by Schedule E category at year end. Software saves time once you have several units or many transactions.
Does rental accounting software calculate depreciation?
Some help: Stessa Pro adds a CapEx report and Baselane Smart offers cost segregation. Residential rental buildings are depreciated over 27.5 years under the general system, per IRS Publication 527; confirm the figures with your tax preparer.