Rental finances can feel like a second full-time job. You’re collecting rent, paying vendors, tracking expenses, and trying to keep clean records for tax time—all while handling the day-to-day realities of tenant communication and property operations. It’s no surprise that many landlords look for help with property accounting rather than trying to do everything manually. 

The big decision usually comes down to two options: hiring accountants for landlords or using rental property accounting software. The right choice depends on your portfolio size, complexity, and how hands-on you want to be. 

What an Accountant Can Do Well for Landlords

If your rental business has a lot of moving parts, bringing in an accountant can be a practical way to hand off complex financial work to a trained professional. 

Pro: Deep Expertise (Especially with CPAs)

Not all accounting help is the same. You may hire a bookkeeper to manage day-to-day transactions and basic bookkeeping tasks, or you may hire a CPA (Certified Public Accountant) for higher-level tax support and financial guidance. 

In general:

• A CPA can analyze transactions, prepare taxes, and provide financial advice—often with an eye toward maximizing deductions and credits. 
• A bookkeeper typically focuses on recording transactions and handling basic bookkeeping activities; they’re often more affordable than a CPA, but usually won’t provide the same tax strategy or advisory support. 

If your goal is to reduce risk and get expert review of your books (especially before tax season), an accountant may be worth it.

Pro: More Structured Financial Planning

Another advantage is planning. Accountants can take a detailed look at your rental finances and help you spot patterns you might miss—like where expenses are rising, where revenue could be improved, or how to align the business with longer-term goals. 

Where Accountants Can Be a Tough Fit

Accountants can be extremely helpful, but they are not always the best fit for every landlord—especially smaller portfolios or owners who prefer speed and real-time visibility.

Con: Cost Can Be Significant

One of the biggest drawbacks is cost. The article notes that, as of October 2024, the average annual pay for property accountants in the U.S. was $73,405. 

That doesn’t mean every landlord will pay that amount (many hire part-time or contract help), but it does highlight the reality: accounting labor is expensive, and it may not make sense for a small rental business unless your finances are unusually complicated. 

Con: Fraud and Error Exposure

Any time you add a third party to your financial workflow, there’s risk. The article points out that fraud is a concern for some landlords, and that you may still be responsible for mistakes made on your bookkeeping or taxes. 

This isn’t a reason to avoid accountants entirely—but it is a reason to vet thoroughly, set clear controls, and make sure you stay involved enough to verify what’s happening.

What Rental Property Accounting Software Does Well

If you want an organized system that’s fast to implement and easier on the budget, rental property accounting software can be a strong alternative. It keeps the books in your hands, while still reducing a lot of the manual work. 

Pro: Cost-Effective for Small-to-Midsize Portfolios

Compared with hiring accountants for landlords, software is typically much less expensive. The article cites software subscription costs commonly ranging around $15–70 per month. 

If you’re trying to stay lean—especially as a newer landlord—this price difference alone often pushes owners toward the best real estate accounting software options.

Pro: Support and Speed When You Need It

Another factor is responsiveness. The article highlights that top software companies may offer support within 24 hours or less, while accountants usually aren’t available around the clock. 

If you value quick answers and consistent access to your financial records, software often wins on convenience.

Pro: Hands-on Control (with Automation Benefits)

Many landlords prefer to stay hands-on. Software supports that DIY style by making your finances accessible and easier to manage, and many platforms automate parts of data entry so you’re not spending nights “crunching numbers.” 

In other words: you stay in control, but you’re not doing everything the hard way.

Where Software Can Fall Short

Software is powerful, but it isn’t perfect—and it isn’t always a complete replacement for professional advice.

Con: Outages and Tech Hiccups Happen

Like any technology, web-based systems can have glitches, downtime, or updates that temporarily interrupt access to your data. The article recommends backing up your accounting data to reduce stress when issues occur. 

Con: Not Every Platform Fits Every Portfolio

Some tools can be rigid. Depending on the size and complexity of your rentals, you may run into limits—like restricted features, property caps, or insufficient customization. 

That’s why it’s important to evaluate property accounting needs first, then choose software that actually matches them (not just the cheapest plan).

A Practical Way to Decide

The article’s recap boils the choice down nicely:

You may want an accountant if you:

• Own a large portfolio
• Want to increase deductions and credits
• Are willing to pay for expert help 

You may want accounting software if you:

• Want an inexpensive option
• Prefer handling finances yourself
• Want quick, easy access to your records 

The “Both” Option Most Landlords Overlook

Many rental businesses use software for day-to-day property accounting, then bring in an accountant for higher-stakes moments like tax filing, year-end review, and strategic planning.

If you’re already using a property management platform, pairing it with a strong accounting workflow can reduce duplicate entry, keep documentation organized, and make it easier to share clean reports with a CPA when needed.