REI Hub and QuickBooks are two popular solutions landlords use to track their income and expenses.

In this guide, we compiled everything you need to know about each platform into a head-to-head comparison to help you figure out which tool is the better option for your business.

We also review Stessa, a popular rental property accounting software solution that landlords can use to automatically track income and expenses, generate comprehensive financial reports, collect rent payments online, screen tenants, digitally sign leases, and prepare year-end tax information.

REI Hub overview

REI Hub is an accounting software platform specifically designed for landlords and real estate investors. It aims to simplify the often complex world of rental property finances.

The software offers a property-based accounting framework that aims to make it easy for users to track income, expenses, and taxes across diverse real estate portfolios. It claims an intuitive setup that lets landlords get started in minutes, adding properties and financial accounts with minimal effort.

You can use the platform to manage single-family homes, multifamily units, or a mix of long- and short-term rentals.

Software features

• Property-centric accounting with property-by-property financial reporting
• Automatic transaction importing directly from linked bank accounts for seamless bookkeeping
• Rule-based transaction matching to automate the categorization of recurring transactions
• Rental-specific transaction templates to accurately record items like security deposits
• Comprehensive financial reporting, including profit and loss, statement of cash flows, and balance sheets
• Easy-to-generate, tax-ready IRS Schedule E reports for each property
• Lease tracking features to manage tenant information, lease terms, and expiration dates
• Mileage log to track travel related to property management and maintenance for potential deductions
• Receipt and document storage with cloud-based security, including the ability to attach files to transactions
• Fixed asset tracking to manage capital expenses and accumulated depreciation for tax purposes

Pricing

Each plan includes access to all features, such as quickly adding various property types, linking financial accounts, bookkeeping, generating financial reports, fixed asset schedules, and reporting and recording depreciation expenses by property.

The platform provides a 14-day free trial and 4 pricing plans based on portfolio size:

• Essentials: $15/month (includes 3 units)
• Growth: $25/month (includes 10 units)
• Investor: $45/month (includes 20 units)
• Professional: $80/month (unlimited units)

QuickBooks overview

QuickBooks can be a valuable tool for the financial management of rental properties in some situations. Landlords can perform tasks like creating and sending invoices, processing payments, tracking both income and expenses, and generating reports.

However, QuickBooks is primarily a general-purpose accounting tool and not specifically tailored for real estate property management. That can present certain challenges for landlords seeking software primarily for rental property management.

Unlike dedicated property management solutions, QuickBooks does not include essential landlord tools, such as posting vacant property listings, conducting tenant screenings, or online rent collection.

These limitations may lead some landlords to seek more specialized software options that better meet their unique needs in managing rental properties.

Software features

Simple Start plan

• Income and expenses
• Banking with competitive APY
• Bookkeeping automation
• Invoices and payments
• Tax deductions
• Access expert tax help (additional cost varies)
• General reports
• Receipt capture
• Mileage tracking
• Cash flow
• Sales and sales tax
• Estimates
• Contractors
• Connect 1 sales channel
• Bill management

Essentials plan

Everything in Simple Start, plus:

• Connect 3 sales channels
• Multiple currencies
• Includes 3 users
• Enter time

Plus plan

Everything in Simple Start and Essentials, plus:

• 5 users
• Inventory
• Project profitability
• Financial planning

Advanced plan

Everything in the above 3 plans, plus:

• Includes 25 users
• Auto-track fixed assets
• Data sync with Excel
• Batch invoices and expenses
• Custom access controls
• Workflow automation
• Data restoration
• 24/7 support and training
• Revenue recognition

Pricing

QuickBooks Online offers 4 pricing plans, each with a 30-day free trial and a 50% discount for the first 3 months (as of November 2024). Every plan includes free mobile apps, customer support, and seamless app integration:

• Simple Start: $17.50/month for the first 3 months, then $35/month
• Essentials: $32.50/month for the first 3 months, then $65/month
• Plus: $49.50/month for the first 3 months, then $99/month
• Advanced: $117.50/month for the first 3 months, then $235/month

QuickBooks provides extra services for an additional fee, including online payroll and live full-service monthly bookkeeping, for landlords seeking enhanced accounting capabilities. The company also offers a one-time live bookkeeping guided setup service designed to assist users in creating a chart of accounts, creating customized invoices, setting up reminders, and linking bank and credit card accounts.

REI Hub vs. QuickBooks

Understanding the differences between REI Hub and QuickBooks can make it easier to decide which one is the best match for your unique needs.

Here’s a summary of some essential features REI Hub and QuickBooks offer for rental property accounting and property management, including ease of use, integration capabilities, tenant leasing and online rent collection, landlord banking, and overall cost-effectiveness. This summary also looks at features that many landlords need but are missing from these platforms.

Ease of use

Since REI Hub is designed for rental property management, its user-friendly interface offers straightforward navigation and tools tailored for real estate investments.

On the other hand, QuickBooks is general-purpose accounting software. While powerful, it requires more customization to meet the specific demands of rental property management. That could involve a steeper learning curve for landlords not familiar with accounting.

Financial reporting

Both platforms offer robust financial reporting capabilities but are designed for different user profiles.

REI Hub supplies reports specifically for rental properties, including easily accessible and relevant income statements and cash flow reports for property investors. These reports help give landlords a clear understanding of their financial performance at a glance.

QuickBooks delivers a more comprehensive suite of financial reports suitable for a variety of industries. While it provides detailed insights, landlords may need to spend additional time customizing reports to focus on rental-specific metrics, which can be a drawback for many landlords.

Property reporting

REI Hub is built to handle real estate portfolios, offering comprehensive insights into each property and the overall portfolio. This data includes vacancy rates, rental income, and expense tracking, giving landlords a thorough overview of their investments.

QuickBooks offers robust financial tracking but lacks the real estate focus. Users may need to create custom fields and reports to achieve the same level of detail in their property management accounting. This additional effort can be cumbersome and time-consuming for landlords managing multiple properties or larger portfolios.

Integrated features

REI Hub has features like lease tracking and mileage logs, which help streamline the day-to-day operations of rental properties. These tools are integrated into the software, making it easier for landlords to manage their tasks without needing third-party integrations.

QuickBooks offers a wide range of integrations through its app ecosystem, allowing users to add functionalities like lease tracking. However, these integrations can require additional setup and costs, which might not be ideal for those seeking a seamless, affordable, all-in-one solution.

Pricing

REI Hub offers competitive rates tailored to landlords and real estate investors. Its cost structure delivers value without unnecessary frills, providing essential property management tools at a somewhat affordable rate.

QuickBooks has multiple pricing tiers for a broad spectrum of users, from small business owners to larger enterprises. For landlords specifically, the cost may be higher due to needing additional integrations or customizations to match the functionality REI Hub supplies out of the box.

Missing features

When evaluating REI Hub and QuickBooks, you may notice the absence of certain features that could improve your rental property management. Here are some capabilities these platforms currently lack:

• Market vacant listings through platforms like Zillow for increased visibility
• Tenant screening tools to facilitate background checks and surface more reliable tenants
• Leasing and eSigning features for convenient and secure document management
• Online rent collection options to simplify payment processes
• Integrated landlord banking services to manage property-related finances

How does Stessa stack up to REI Hub & QuickBooks?

While REI Hub and QuickBooks have plenty of great features, Stessa includes the missing tools landlords need and much more.

As the #1 mobile app choice for landlords (based on App Store ratings and total reviews as of Dec 2024), thousands of property owners trust Stessa’s intuitive platform to optimize their financial management processes.

With a user-friendly interface, Stessa offers a seamless experience that simplifies tracking and reporting, with the ability to easily manage multiple properties.

Stessa stands out in its ability to deliver substantial savings in time and money. You can focus on scaling your portfolio rather than getting bogged down in administrative tasks.

On average, landlords using Stessa report significant savings both in dollars and hours spent on bookkeeping and financial management. These savings boost your bottom line while freeing up valuable time for strategic growth and exploring other investment opportunities.

After signing up and entering some basic property information, you can:

• Track unlimited rental properties and portfolios.
• Access comprehensive performance dashboards at the property and portfolio levels.
• Automate income and expense tracking by linking property bank accounts.
• Collect tenant rent payments online using free Automated Clearing House (ACH) transfers.
• Perform tenant screening through RentPrep and handle rental applications within the platform.
• Publish a vacancy for rent and get it syndicated to a variety of websites for maximum exposure to high-quality tenants.
• Track expenses on the go with the iOS and Android apps.
• Upload documents, tag them for digital signatures, and send them to tenants, vendors, partners, and more. 
• Open an FDIC-insured high-yield bank account* for each property and seamlessly integrate them with Stessa’s financial tracking features.
• Organize and store all real estate documents safely and securely.
• Generate comprehensive financial reports, including income, net cash flow, and capital expense (CapEx) statements.
• Export tax-ready financials to make tax time a breeze.
• Create a personalized Stessa Tax Package, including an income statement, net cash flow report, and ZIP file in a single email.

Get started with Stessa today: Click here to create a free Stessa account.

*Stessa is a financial technology company and is not a bank. Banking services provided by Thread Bank, Member FDIC. The Stessa Cash Management Visa® Debit are issued by Thread Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa cards are accepted.

Your deposits qualify for up to $3,000,000 in FDIC insurance coverage when placed at program banks in the Thread Bank deposit sweep program. Your deposits at each program bank become eligible for FDIC insurance up to $250,000, inclusive of any other deposits you may already hold at the bank in the same ownership capacity. You can access the terms and conditions of the sweep program at https://thread.bank/sweep-disclosure/ and a list of program banks at https://thread.bank/program-banks/. Please contact customerservice@thread.bank with questions regarding the sweep program.

No minimum balance or opening deposit required. Fees could reduce earnings on the account. Account holders can earn 1.10% cash back on debit card purchases. Cash back earned each month will be credited to your account by the next month’s statement cycle. ATM transactions, the purchase of money orders or cash equivalents, loan payments and account funding made with your debit card are not eligible for cash back rewards. Terms and eligibility requirements apply.

Essentials is a free plan and Manage and Pro are premium subscription plans. The terms and conditions for Stessa Plans are subject to change, including pricing.  Annual Percentage Yield (APY) of 2.67% on deposit accounts for new Essentials and Manage users signing up, accurate as of December 10th, 2024; and 4.32% APY for Pro users is accurate as of December 10th, 2024. APY for the account may change at any time, before or after the account is opened.