Managing taxes and accounting for rental properties can be a lot to handle for landlords and property managers. These tasks can be especially daunting on top of other duties like rent collection and maintenance requests.
To make things easier, you can use a property tax management system. With everything in one place, it helps you stay organized, accurate and compliant without the usual stress of tax season.
Explore the 11 best property tax management software options to simplify tax prep.
Key takeaways
- Property tax management software helps you streamline rental property finances with bookkeeping and accounting, tax prep and reporting.
- Benefits of property tax management software include simplified taxes, reduced errors and customizable financial reports.
- Baselane is the best choice for property tax management because it offers automated financial and tax reports and includes a customizable tax package, plus integrated banking and rent collection.
| Platform | Price | Best for | Key features |
|---|---|---|---|
| Baselane | Free | All rental property owners who want to save time and effort when it comes to accounting and tax prep | Integrated banking, online rent collection, customizable tax package, on-demand Schedule E tax reports, 120+ real estate-specific categories, receipt uploads for easy tax filing |
| AppFolio | Pricing not listed publically | Mid-to-large real estate portfolios | Bank integrations, customizable financial reporting |
| QuickBooks |
| Landlords who don’t mind manually entering financial data | Receipt scanning, general tax categories, useful if you have other non-real estate small businesses |
| Buildium |
| Enterprise property managers who can afford paying extra for features | Tax reporting, income and expense analytics |
| TenantCloud |
| Listing rental properties and lead management | Basic expense tracking, tax reports, invoice creation |
| Rentec Direct |
| Operations and leasing management | Simple financial reporting, general ledger accounting |
| Hemlane |
| Landlords who only need basic tenant management tools | Basic financial reports, bank syncing |
| RentRedi |
| Landlords who don’t mind paying a subscription fee or doing manual data entry | Property performance reports, transaction tracking (test for reliability, user experience is very dated) |
| TurboTenant |
| Tenant management and rental listings | Offers third-party tool with basic bookkeeping and financial reports |
| Avail |
| Rental listing syndication and online applications | Simple category and transaction type tracking, income and expense spreadsheet reports |
| Landlord Studio |
| Landlords who only need basic financial reports without customization | Schedule E reporting, expense tracking |
1. Baselane
Baselane is a modern all-in-one banking and financial management platform. With an intuitive dashboard, Baselane provides tools to automate property management tasks like bookkeeping, tax reporting and rent collection.
Baselane’s landlord banking software gives you instant and precise transaction data so you don’t have to worry about syncing external accounts or losing data. All of your transactions are synced in one ledger, and you can use over 120 real estate-specific categories to organize transactions based on Schedule E. Easily upload receipts and add notes so you have everything organized when tax time rolls around.
Baselane’s tax management capabilities make it a standout choice for those handling multiple rental properties, including vacation rentals and Airbnb units, by centralizing everything from expense tracking to tax reports. The customizable tax package and auto-generated Schedule E reporting features save time and money during tax season.
Baselane also provides multi-user access so you can work with virtual assistants, bookkeepers and CPAs while controlling the information they can use.
Key features
- Machine learning-based and custom rule-based auto-categorization of transactions
- Real-time cash flow financial & Schedule E tax reports
- One-click categorization with 120+ real estate-specific categories
- Receipt uploads for easy tax filing
- Multi-tag transactions
- Expense tracking and sorting by category and property for easier tax deductions
- Customizable and downloadable tax package
- All Baselane banking and external account transactions auto-sync in one convenient ledger
- Full suite of property management features: Banking, online rent collection, tenant screening, rent reporting (boost credit), lease creation, e-sign and more.
Pricing
Baselane is free to use for simplifying your taxes and accounting processes:
- Taxes: Schedule E reporting and the tax package are free (save $300-1k+ on expensive CPA fees)
- Bookkeeping and accounting, integrated accounting, and rent collection: Free (no monthly fees, hidden fees, or minimum balance requirements)
Best for
Baselane is the best tax management software for all types of real estate investors whether you want to manage vacation rental property finances, need specialized Airbnb tax software, or are looking for general landlord software to simplify tax prep. Whether you have a small portfolio or a larger one, Baselane’s specialized tax software for rental properties includes auto-generated Schedule E reporting and a customizable tax package so you’re prepared for tax season in minutes instead of hours.
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2. AppFolio
AppFolio is a multifamily property management software that supports mid-size to large portfolios. Its features are tailored for large multifamily, residential and commercial properties.
Appfolio requires a minimum spend ($298 on the Core Plan, $960 on the Plus Plan, and $7,500 on the Max Plan) and a minimum of 50 units. This can get expensive quickly—and real estate investors with smaller portfolios can’t use this platform.
Appfolio doesn’t have banking tools or in-house accounting features. That means you have to manually track and enter transactions somewhere, which takes time and increases the risk of errors.
Key features
- AI Smart Bill entry
- Financial reports, including cash flow and income statements
- Bank integrations
Pricing
Custom quotes for all plans — Core, Plus and Max
Best for
Investors with mid-to-large real estate portfolios.
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3. Quickbooks
QuickBooks is a general accounting software designed for the masses. It offers tax filing reports, income monitoring, and tax-deductible expense tracking. It’s not purpose-built for landlords or real estate investors, so it doesn’t have features like rent collection or rental-specific financial reporting.
QuickBooks is difficult and time-consuming for landlords to set up. You have to manually set up your categories, enter each rent payment and expense, and assign it to the correct property. That means you need to spend a lot of time on data entry that’s automated with other tools like Baselane.
While QuickBooks offers tax preparation tools, they aren’t designed for property investors and owners. You won’t find real estate-specific expense categories, and it can’t auto-generate a Schedule E in one click like Baselane can.
Key features
- Mobile-enabled receipt scanning
- General tax categories
- Financial reports including a cash flow planner
Pricing
QuickBooks doesn’t offer any free plans. To use the software you’ll need to pay:
- Simple Start: $19 per month
- Essentials: $28 per month
- Plus: $40 per month
- Advanced: $76 per month [This tier is a must for customization needed for real estate investors]
Best for
Landlords who don’t mind manually entering financial data.
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4. Buildium
Buildium is a property management solution built for large and enterprise businesses. It provides rent collection and tax reporting tools. However, it may be more complex than necessary if you’re a real estate investor or property owner with a smaller portfolio.
In addition, there’s no free version, and the paid plans only give you access to the most basic features. You have to pay extra for premium features like data exporting and revenue analytics—features you get for free with Baselane. Buildium charges a $99 setup fee for each bank account, while Baselane lets you connect unlimited bank accounts and cards and you can open unlimited checking and savings accounts, all for free.
Key features
- Tax reporting and expense tracking
- 1099 e-filing through Buildium
- Real estate analytics
Pricing
Buildium offers a 14-day free trial with the following rates:
- Essential: $58/mo
- Growth: $183/mo
- Premium: $375/mo
Best for
Enterprise property managers who can afford paying extra for features.
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5. TenantCloud
TenantCloud is built for landlords who manage multiple properties. Features include rent collection, tenant management and tax documentation to help maximize landlord tax deductions.
TenantCloud isn’t free, and the platform has limited reporting tools and minimal expense tracking. Bank integrations can be difficult for landlords with multiple properties because instant verification is limited to once per day and two total per month—you’ll need to manually enter bank details when connecting more than two accounts in the same month.
Plus, you need to pay for the Pro Plan ($50.40 per month) to get access to the Tax Preparation Report. These reports aren’t shared automatically, you need to manually change settings in each profile to generate the report.
Key features
- Basic expense tracking
- Tax reports
- Invoice and receipt creation
Pricing
All plans include a 14-day free trial and a free month when billed annually:
- Starter: $15.60/mo (if billed annually)
- Growth: $29.30/mo (if billed annually)
- Pro: $50.40/mo (if billed annually)
- Business: Custom pricing
Best for
Listing rental properties and lead management.
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6. Rentec Direct
Rentec Direct offers financial tools, including online rent collection, expense tracking, and transaction reports. Their tax offerings include a 1099 federal and state e-filing option, handled by a third party (Nelco Solutions).
Rentec Direct’s pricing structure poses challenges for smaller portfolios. At $50 per unit per month, it’s expensive and becomes pricier as you grow. The platform doesn’t have a partner integration with tax and accounting tools like QuickBooks or Xero. If you do want to use QuickBooks, you’ll need to use a Windows computer, manually export the data from Rentec Direct, and follow seven other time-consuming steps. Its reporting features provide limited insights into performance and you may also find it difficult to correct accounting errors within the system.
Key features
- Simple financial reporting but requires some manual effort
- General ledger accounting
- Sync financial transactions with your bank
Pricing
Rentec Pro is for landlords and investors and Rentec PM is for property owners. Pricing is the same, and you get a 2-week free trial with both plans.
- Pro: $50-$5,000/mo, depending on the number of units (max 2,500 units and a 10% discount if billed annually)
- PM: $50-$6,250/mo, depending on the number of units (max 2,500 units and a 10% discount if billed annually)
Best for
Operations and leasing management.
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7. Hemlane
Hemlane is a platform that focuses on property management with features for tenant management and maintenance tracking. It has minimal financial reporting tools, including basic expense and transaction tracking to identify landlord tax deductions.
Hemlane isn’t really designed for tax management. The platform includes accounting features, but these are in beta. There are no dedicated tax services on their site, and they don’t let you categorize transactions. The free plan offers only two financial reports: cash flow and income statements, making it less desirable at tax time if you need more advanced reporting.
Key features
- Basic financial reports (unproven given how new they are)
- Bank syncing
- Rental performance insights
Pricing
Hemlane offers a free plan and a 14-day trial on the following plans when billed annually:
- Basic: $2 per unit + $28 base fee
- Essential: $20 per unit + $28 base fee
- Complete: $68 per unit + $28 base fee
Best for
Landlords who need tenant management tools, but aren’t as focused on accounting and bookkeeping features.
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8. RentRedi
RentRedi is an older property management platform that offers tenant management tools and financial tracking features. The solution includes financial reports such as Schedule E, profit and loss statements, and cash flow reports.
RentRedi doesn’t offer its own banking tools, you can only link external accounts and the links can often break. This can make expense tracking complicated, especially if you use the same bank accounts for multiple properties or mix personal and business finances in one account. The accounting tools are limited and rely heavily on manual rule-setting, which takes time and increases the likelihood of errors.
Key features
- Financial reports including cash flow, balance sheet and Schedule E
- Rule-based transaction tracking
- Property performance reports
Pricing
RentRedi offers three subscription plans:
- Monthly: $29.95/mo
- 6-month plan: $20/mo
- Yearly: $12/mo
Best for
Landlords who don’t mind paying a subscription fee or doing manual data entry.
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9. TurboTenant
TurboTenant is a cloud-based property management tool designed for rental listings and tenant management. In addition, it offers basic financial tracking and rental expense tracking.
TurboTenant is missing critical banking services and financial reporting tools. TurboTenant doesn’t offer its own accounting tools, instead, it requires integration with REI Hub for reports. Multi-property reporting can be difficult and requires some manual input. On the free plan, you can only manage a single property.
Key features
- Tax packets and Schedule E reporting
- Bank account syncing
- Expense logging
Pricing
Here are the pricing plans for TurboTenant:
- Free
- Pro: $9.92/mo (if billed annually)
- Premium: $12.42/mo (if billed annually)
Best for
Landlords who are looking for tenant management and rental listing platforms rather than accounting and tax software.
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10. Avail
Avail is an older property management platform designed primarily for part-time and DIY individual landlords. Avail is best known for listings, screening, rent collection and maintenance requests.
You’ll have to track one-time transactions made outside of Avail’s platform, increasing the amount of time and work you have to put in. To keep transactions up-to-date, you need to manually edit or delete each one.
In addition, tax reporting is more complicated and time-consuming with Avail. Instead of generating a Schedule E report or tax package, the tool exports a spreadsheet that you then have to share with your accountant. These extra steps can eat up a lot of time, especially if you’re managing several properties.
Key features
- Expense tracking and reporting
- Category and transaction type tracking
- Income and expense spreadsheet reports
Pricing
Avail offers two plans:
- Free plan with basic features
- Unlimited Plus: starts at $9 per unit per month
Best for
Part-time and DIY landlords looking for rental listing syndication and online applications.
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11. Landlord Studio
Landlord Studio is a property management tool with expense tracking and reporting capabilities. While Landlord Studio offers several reports, including profit and loss summaries and rent ledgers, their reports aren’t very customizable. You can create filters to view certain information, but you can’t build your own tailored reports.
The highest tier plan is limited to 20 bank accounts, while other options like Baselane offer unlimited accounts. The Pro and Free plans limit the number of documents you can store, making it less than ideal if you have many properties to manage.
Key features
- Schedule E reporting
- Industry-specific reports
- Expense tracking
Pricing
Landlord Studio offers three plans:
- Free
- Pro: starting at $12.00 / month for three units if billed annually.
- Pro Plus: starting at $28.00 / month for three units if billed annually.
Best for
Landlords who don’t mind generic financial reports and don’t need customization.
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How to choose the best property tax management software
Selecting the right property tax management software is essential for maximizing your real estate investment returns and efficiently managing finances.
The right tool can streamline expense tracking, automate tax documentation and even provide insights on minimizing rental property taxes.
When choosing software, focus on features that align with your unique property management needs, especially if you handle multiple rentals or complex tax filings. Having reliable tax return software can simplify compliance and help you stay organized year-round, making tax season far less stressful.
Features to look for in property tax management software
When choosing property tax management software, here are some features to consider:
- Tax deduction tracking: Look for software that makes it easy to document deductible expenses, helping you maximize your tax savings and potentially understand how to pay no taxes on rental income.
- Automation options: Automated expense categorization simplifies bookkeeping and makes tax reporting more efficient. You should be able to break down expenses and transactions by property or category to easily identify deductions and analyze returns across properties. Plus, automated reminders for rent collection can help you categorize income automatically for accounting and tax purposes.
- Reporting and analytics: Detailed reports on cash flow, profit and expenses are essential for accurate tax reporting and for gaining financial insights into each property’s performance.
- User-friendly interface: Choose an intuitive tool, especially if you’ll need to access it frequently for expense or tax management.
- Mobile accessibility: If you manage properties on the go, mobile compatibility will allow you to track finances from anywhere.
- Pricing and value: Find software that fits within your budget but also offers features you’ll genuinely use, as unnecessary add-ons can increase costs without added benefits.
Baselane: The best option for property tax management
Selecting the best property tax management software can make all the difference in keeping your finances in check for tax season.
If you’re still deciding on the best property tax management software, check out Baselane’s free landlord accounting software designed specifically for real estate investors.
Baselane’s automated expense tracking and tax reporting will save you 2-6 hours a month, minimize busy work and reduce stress. With Baselane Banking you don’t have to worry about reconciling your income and expenses. If you’re connecting an external account, Baselane syncs all your bank accounts and cards in one place to reduce the risk of manual errors and offer easier reporting at tax time.
Sync your transactions in one space, organize receipts, and categorize expenses to easily identify tax deductions. Watch our free demo and see why Baselane stands out as the best property tax management software among alternatives.
FAQs
Are property management fees tax deductible?
Yes, property management fees are typically tax-deductible as they are considered necessary for maintaining and managing rental properties. Make sure you document these costs so you can deduct them when filing taxes.
Can I deduct property management fees from taxes?
Property management fees are generally tax-deductible since they’re classified as necessary business expenses. To deduct the fees, you need to keep detailed records and statements for items such as inspections, repairs and rent collection.
On your tax return, you’ll include these items as “other allowable property expenses”. If you use a property tax management tool like Baselane, you can instantly categorize these expenses and add them to your Schedule E report.
What is the best tax software for rental property?
It depends on your rental property business. If you’re looking for an all-in-one platform with no to low fees and new technology (more automation), we think the best tax software is Baselane. Baselane is an all-in-one banking and financial management platform that offers a tailored tax package and auto-generated Schedule E reports. In addition, Baselane’s integrated banking offers instant and precise transaction tracking along with organized receipts that simplify tax filing. Create accurate reports at tax time with Baselane, which classifies your transactions based on Schedule E categories.
Do you have to pay tax on rental income?
Yes, rental income is generally subject to federal and sometimes state taxes. However, you can reduce the taxable amount through allowable deductions like repairs, mortgage interest and property management fees on your Schedule E.
How much tax do you pay on rental income?
The tax rate on rental income varies based on your total taxable income and tax bracket. After deductions, the remaining rental income is taxed at your ordinary income tax rate, which varies based on your tax bracket.
