Banking-led tools are convenient until you need real accounting. Rentwelly is bank-agnostic and keeps a genuine double-entry ledger — so your reports tie out and your accountant stops asking for exports.
Reflects Rentwelly's positioning and common market observations; verify current features and pricing with each vendor.
The trade with banking-led tools is real and worth naming: you get a genuinely useful free product, and in exchange the product works best when your money lives inside it. That is fine for many landlords. It is a problem if you already have banking you like, or if you want your books to outlive any one vendor.
The deeper issue is what counts as bookkeeping. Categorizing a bank feed answers "roughly where did the money go." It does not produce a balance sheet, hold security deposits as liabilities, or let you trace a suspicious number on a report back to the entry that caused it. That gap is invisible in March and expensive in April.
Rentwelly keeps a real general ledger underneath ordinary landlord actions. You collect rent and log expenses; the double-entry happens automatically.
Sorting bank transactions into buckets gives you an estimate. Double-entry gives you books — a balance sheet that balances, a trial balance, and a trail behind every number.
Rentwelly does not want to be your bank. Use whatever accounts you already have and still get audit-ready reporting.
A deposit is a liability you are holding, not revenue you earned. Rentwelly records it that way from the start, so your balance sheet is honest.
Schedule E figures, 1099s, and owner statements come straight out of the ledger instead of a spreadsheet you reconstruct each spring.
Also compare: Stessa alternative, QuickBooks for landlords, and rent collection software.
Free for 14 days, no credit card. Import your portfolio and see a balance sheet that ties out.
Two reasons come up most. First, bookkeeping built around categorizing bank transactions is not the same as a double-entry general ledger, and that difference shows up at tax time. Second, banking-led tools work best when your money moves through their accounts — if you would rather keep your existing bank and still have proper books, you need software that is bank-agnostic.
No. Rentwelly is your books and your operations, not your bank. You keep whatever accounts you already use, and rent collection and expenses post to the ledger regardless of where the money sits.
A balance sheet and trial balance that tie out, an audit trail from any report down to the transaction that created it, per-property P&L, security deposits held as real liabilities rather than income, and clean 1099s and Schedule E figures at year end.
Plans start at $29/mo for up to 20 units, $79/mo to 100, and $199/mo unlimited. There is a free 14-day trial with no credit card required, and no unit minimum on any plan.
More on the pricing page or contact us.