Overseeing the finances of short-term rentals, like vacation homes or ADUs, presents a few unique challenges for landlords. After all, you can’t just “set it and forget it” like you might with long-term rentals. Fortunately, though, short-term rental accounting software options can help.
The platforms in this article will help you better monitor cash inflows and outflows across your properties, ultimately boosting your bottom line. Whether you rent out a spare bedroom or a whole condo, the right short-term rental accounting software can save you valuable time and money.
Here, we’ll go over the pros and cons of top accounting software so you can find the right program for your portfolio. Since we know bookkeeping for STRs can get overwhelming, we’ve also included some extra tips to improve your accounting process. Ready? Let’s dive in.
Why Choosing the Right Short-Term Rental Accounting Software Matters
While you might think that all rental accounting software is alike, there’s a world of difference between the finances of a traditional landlord and those of a short-term rental owner. As such, you have to use the right software to meet both your present and future goals.
To start, identifying financial patterns allows you to adjust your portfolio plans accordingly. Software can also automate routine tasks and help you stay on top of record-keeping. Plus, real-time financial insights help you make the best possible decisions for your business.
Short-term rental owners who use the right software can better understand the complex financial situations that arise when running STRs. This also enables you to scale up your business and your profits in the long run, so the sky’s the limit with accounting technology on your side.
Key Features to Look for in Short-Term Rental Accounting Software
As you pick a short-term rental accounting software to integrate into your property management workflow, keep a few different factors in mind. Ideally, any rental accounting software you choose should provide at least a few of these tools to assist with your finances:
Automation and Bank, OTA, and PMS Sync
Many STR accounting programs offer automated tools and can sync with your bank account, property management platforms, and online travel agencies. With these tools, you don’t have to manually update your books across multiple programs or apps, saving you time and reducing the potential for errors.
Income and Expense Categorization by Property
Whether you manage one short-term rental or 100, STR accounting software should separate income and expenses for each property. Not only can you stay organized and keep a closer eye on your cash flow, but this also provides financial clarity regarding your entire portfolio.
Tax-Ready Reports and Schedule E Support
Ah, tax season—the most stressful time of year for landlords. But it doesn’t have to be. Short-term rental accounting software can provide detailed financial reports and generate forms like Schedule Es to streamline filing, so you can maximize your deductions and file with confidence.
Cash Flow, Profitability, and Performance Tracking
Short-term rental accounting software provides a bird’s-eye view of your portfolio, with detailed analyses of cash flow, profitability, and the performance of individual properties. You can use this info to identify opportunities for improvement without the hassle of crunching the numbers yourself.
Multi-Property and Multi-Owner Accounting Capabilities
Software that supports multiple properties and owners streamlines oversight of large portfolios with multiple investors. Even if you think you don’t need these tools right now, as your rental portfolio grows, you’ll want software that can scale up right alongside you.
Best Short-Term Rental Accounting Software Options for 2026
STR owners have plenty of accounting software to choose from, but a few programs stand out above the rest. Here are the top products we recommend:
REI Hub: Best Overall Short-Term Rental Accounting Software
All in all, REI Hub is the strongest software available for landlords with short-term rental portfolios. Integrated with all-in-one property management software like RentRedi and Hosthub, REI Hub is easy to use and offers a comprehensive toolbox for anyone managing rental properties.
REI Hub’s automation capabilities include daily bank account syncing, a must-have for any STR owner seeking a seamless experience across multiple platforms. You can also generate Schedule Es and other tax reports in moments, and cloud-based document storage allows for on-the-go accounting.
Last but not least, you can scale up your use of the software as you go, and benefit from expense and income tracking at the portfolio level. If you want to simplify your STR finances while streamlining your overall rental management, look no further than REI Hub.
Core Accounting Features
REI Hub offers a variety of accounting tools to help landlords vastly improve their short-term rental bookkeeping. These features include:
- Bank account synchronization: Sync REI Hub with your bank account, allowing you to automatically upload transaction data.
- Income and expense categorization: REI Hub will automatically categorize certain recurring transactions to simplify the accounting overview.
- Document storage: Upload and store your documents on REI Hub, including receipts and invoices.
- Tax reporting: Receive comprehensive financial reports and Schedule Es almost instantly for fast and easy tax filing.
- Property-based accounting: Purpose-built rental accounting software separates expenses and income by property, providing greater clarity.
Strengths for Short-Term Rental Owners
REI Hub offers a robust set of tools for short-term rental owners. Though STR accounting often gets complicated, you can benefit from the program’s ultra-intuitive interface and advanced financial tracking, vastly improving your bookkeeping processes without compromising usability.
On top of that, REI Hub automates routine tasks and syncs across multiple platforms, saving you time and reducing the stress of manual updates. When tax season rolls around, you can take filing to the next level using REI Hub’s advanced reports and categorization options.
Limitations to Consider
Of course, REI Hub does have its downsides. Since the software launched in 2018, not everyone you work with will be familiar with the software. And on that note, it can be challenging to share REI Hub data with external parties, such as tax professionals and business partners.
QuickBooks Online: Best General Accounting Software With STR Integrations
QuickBooks is one of the most popular accounting software options, period, so you won’t need to wonder about the program’s trustworthiness. While it’s not purpose-built for rental accounting, QuickBooks does offer short-term rental integrations that can prove beneficial to rental property owners.
Given QuickBooks’ popularity and widespread use, it’s an excellent option for STR owners seeking a more general accounting tool. Granted, QuickBooks isn’t the cheapest (plans start at $19 per month), but you get plenty of bang for your buck.
Core Accounting Features
Though QuickBooks Online isn’t built specifically for rental management, the software has several features that STR owners can use:
- Income and expense tracking: QuickBooks Online allows for detailed income and expense tracking, no matter the situation.
- Invoicing and payments: Landlords can handle invoicing and vendor payments directly through QuickBooks.
- Financial reporting: QuickBooks Online provides strong financial reports to simplify tax season.
- Integrates with short-term rental platforms: QuickBooks Online can sync with platforms like Hostaway and Lodgify.
- Mobile app: QuickBooks Online provides a dedicated mobile app for easy, on-the-go short-term rental accounting.
Strengths for Short-Term Rental Owners
Short-term rental owners can benefit from QuickBooks Online’s popularity and easy-to-navigate interface. Since so many people use the program, you can easily share your accounting data with others, including tax professionals. QuickBooks also comes in handy during tax season, improving the filing process and minimizing errors.
Limitations to Consider
Since QuickBooks Online isn’t designed for landlords and short-term rentals, certain features are missing, such as the ability to integrate with dedicated property management software. Plus, you’ll likely have a hard time separating rental income and expenses by property.
Hostaway + Accounting Integrations: Best for Professional Hosts Using Existing PMS Tools
Founded in 2015, Hostaway is a property management software designed specifically for short-term rental owners and landlords. As you might expect, Hostaway offers a variety of tools to help landlords streamline all aspects of property management, including accounting and bookkeeping.
Hostaway scales up with your rental portfolio, so no matter how many properties you add, Hostaway can help you handle it. With that said, its accounting features aren’t the strongest. But if you already use another property management software, Hostaway could help you fill in the gaps.
Core Accounting Features
Hostaway offers a variety of accounting tools to help landlords streamline their rental management. You can expect options like:
- Income and expense tracking: Hostaway provides detailed income and expense tracking that you can categorize by property.
- Customizable filters: You can apply custom filters and views to Hostaway’s accounting software, including status, date, property, or event.
- Automated accounting: Hostaway automates both expenses and income records, saving landlords time and reducing errors.
- Integrates with other aspects of short-term rental management: Hostaway provides a seamless user experience and accounting integration for property managers and landlords.
- Data exports: You can easily export Hostaway data to share with other parties and across other platforms.
Strengths for Short-Term Rental Owners
Hostaway offers significant convenience for short-term rental owners. The accounting software is just part of Hostaway’s full rental management workflow, making it easy to use no matter where you are in the process. This streamlines not only accounting but also the entire rental management process.
Limitations to Consider
Most of Hostaway’s accounting software is powered by QuickBooks, which is far from perfect for rental finances. Some users also note that accounting through Hostaway can be basic and requires landlords to do their own research to ensure compliance with local laws.
Xero: Best Cloud Accounting Alternative for Global Hosts
Xero is a cloud-based accounting software designed to help small business owners. So, while it’s not specific to rental properties, much less short-term rentals, the program does offer plenty of tools that can help rental owners with smaller STR portfolios.
Because Xero is cloud-based, users can access its tools from anywhere in the world. This can be especially helpful for people who run vacation rental properties in another country or who are on the go. Xero updates in near real time to keep you informed 24/7.
Core Accounting Features
Xero offers a few helpful tools to help short-term rental owners manage their properties, regardless of location. You can benefit from options like:
- Real-time financial syncing: Expenses and income sync to your Xero account in moments rather than days.
- Reconciliation with bank accounts: Simplifies bookkeeping by matching rent payments and other transactions across your portfolio.
- Mobile app: Xero offers a dedicated mobile app so you can manage your finances from any location.
- Financial and tax reporting: Xero can generate reports and financial statements both for your personal records and for tax filing.
Strengths for Short-Term Rental Owners
The main advantage of Xero is that short-term rental owners can manage their finances from almost anywhere thanks to its cloud-based platform. It’s easy to use and is also an excellent option for anyone who needs to collaborate on accounting.
Limitations to Consider
While Xero is handy for short-term rental owners, it isn’t specifically designed for property management. You’ll need to look elsewhere if you need more robust rental management tools. On top of that, you won’t be able to track expenses and income by property.
Wave Accounting: Best Low-Cost Accounting Software for Small Short-Term Rental Portfolios
Similar to Xero, Wave Accounting is a financial tracking software built for small business owners and freelancers. Wave isn’t specifically designed to assist with short-term rental finances, but it does offer a wide range of tools that can be helpful for vacation rental owners.
Wave also provides many of its core features for free, so it’s an excellent choice for any STR owner on a budget. While it doesn’t have the best scaling options, you can still handle most of your STR accounting with Wave, particularly if you have a small portfolio.
Core Accounting Features
Wave accounting provides a set of tools to help small business owners of all kinds manage their finances. You can benefit from tools like:
- Property separation: Though Wave refers to properties as “businesses,” you can still separate your income and expenses by property.
- Income and expense tracking: STR owners can handle all money in and all money out in one place.
- Financial reports: Wave can generate profit and loss statements to offer more detailed insights into your business.
- Document storage: Landlords can manually import records, such as bank statements, for easy access.
Strengths for Short-Term Rental Owners
Wave is ideal for budget-conscious STR owners who have smaller portfolios. Since the software is designed for small businesses rather than rental properties specifically, it provides more general accounting tools that cut through the noise to show you the most critical aspects of your finances.
Limitations to Consider
Rental owners won’t be able to scale up their use of Wave Accounting as their portfolios grow, and tax reporting options are on the basic side. Landlords who use Wave have noted that the software struggles to maintain tax compliance across multiple locations and jurisdictions.
Considerations for Short-Term Rental Accounting Software
While the pros and cons of each software can help you make your decision, you may want to think about a few other qualities, too. We considered these elements as we determined the best of the best short-term rental accounting software out there.
Pricing Models and Cost Transparency
The price of STR accounting software can vary significantly across platforms. Cheaper isn’t always better, of course, but you should still make sure that you choose software with transparent pricing so you don’t encounter any unexpected fees down the road.
Ease of Use and Setup Time
Nobody wants to waste valuable time struggling to set up new software or platforms. We took into account how easy it is to get started with each program and how much time you can expect to spend learning the ropes.
Integrations With Booking and Payment Platforms
Accounting software that integrates with booking and payment platforms will streamline your workflow as much as possible. This way, you can avoid using multiple accounts to keep track of your bookings and payments, which can lead to significant confusion (not to mention the sheer hassle).
Reporting Flexibility and Customization
Every short-term rental portfolio is different, and every landlord has different accounting needs. Having some flexibility in your accounting software will help you keep track of your expenses and income in a way that makes sense to you, especially when it comes to taxes.
Scalability for Expanding Short-Term Rental Portfolios
Software that can grow with your portfolio is crucial, so you don’t have to change platforms in the future. Trust us: Even if you don’t think you’ll need scalability, you may want to grow your portfolio after receiving financial insights from your short-term rental accounting software.
Tips for Choosing the Right Accounting Software for Short-Term Rentals
Even with the above factors in mind, we know it can still be overwhelming to pick the software that’s right for you. As you make your decision on which rental accounting software to invest in, you can keep these helpful tips in mind.
Match Software Capabilities to Portfolio Size
Don’t try to cut corners and use software that’s better suited to small portfolios if you have a larger portfolio, especially considering that you may need to expand your STR accounting in the future. Save yourself some time by picking the right program from the start.
Prioritize Reporting Over Basic Bookkeeping
While there are plenty of bookkeeping software options, you should look for one that offers relatively advanced financial reporting capabilities. Short-term rental finances can get complicated, so you’ll want software that can handle as much of the process as possible for you.
Plan for Tax Season and Professional Collaboration
When tax season rolls around, you’ll need to rely on your short-term rental accounting software more than ever. The right STR accounting software can be easily shared with and used by multiple people, such as CPAs or your business partners, so you don’t have to switch platforms.
Reevaluate Software as Operations Grow
We know—making this decision even once is stressful. But as your rental property portfolio grows, you’ll have to reconsider which software is the right fit for you. For example, you might outgrow certain programs you started with and need to upgrade to something more robust.
Which Short-Term Rental Accounting Software is Best for Your Portfolio?
No matter how many rental properties you manage, the right short-term rental accounting software can help you streamline operations and vastly improve your profit margins. Now, you just have to make the right decision as to which software will suit your needs.
Options like REI Hub can help you handle the financial side of short-term rental management. These programs offer automation, report generation, and integration tools across multiple stages of the property management process to streamline your STR operations and boost profits.
If you’re ready to give REI Hub or another one of these software programs a try, sign up for an account today to learn what you need from a short-term rental accounting program. Hassle-free accounting and improved property management strategies await.