Why Your Property Management Software Shouldn’t Build Your General Ledger

by Tom Wallace, CEO at Re-Leased

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30th Jan 2025
Compliance (2240 x 700 px)

For decades, real estate professionals have been forced to use the general ledger built into their property management software. At Re-Leased, we believe there’s a better way. We founded our company on a simple premise: your property management provider shouldn’t also build your accounting software. Each area—property management and accounting—has its own deep expertise, best practices, and cycles of innovation. By keeping them separate yet integrated, you gain access to modern, specialist tools that excel at what they do best.

The Problem with All-in-One Systems

Historically, purchasing property management software meant you were stuck with an in-house general ledger. Why?

Because integration between different platforms was cumbersome or nonexistent. APIs—software connectors—were immature, making it nearly impossible to pass data seamlessly between property management and external accounting solutions.
As a result:

  • Accounting took priority: The product needed to handle money and compliance flawlessly, often at the expense of property management capabilities.
  • Property management became an afterthought: Teams relied on spreadsheets, emails, and phone calls for day-to-day tasks like maintenance, rent collection, and reporting.
  • Restricted user access: Non-accountants were often locked out to avoid damaging sensitive financial data.

What Changed?

In the last decade, the tech landscape evolved rapidly:

  • Cloud-first platforms emerged with robust APIs from the ground up.
  • Accounting heavyweights like Xero, Microsoft, Intuit, NetSuite and Sage began offering powerful cloud-based solutions that encourage and support integrations. 

Today, these leaders in accounting and finance set the benchmark for innovation. By leveraging their platforms, you gain access to world-class features, regular updates, top-tier security, and an ever-growing ecosystem of apps that connect seamlessly.

Why Partner with Leading Specialists?

 
When you align your property management software with best-in-class accounting platforms such as Xero, Microsoft Dynamics, or NetSuite, you’re tapping into:

 

  • Unmatched Expertise
    Xero invests millions into refining their accounting experience—covering everything from invoicing and bank reconciliations to intelligent financial insights. Microsoft, with Dynamics 365 and the entire Microsoft 365 suite, brings decades of enterprise tech leadership, AI, analytics (Power BI), and global support.

  • Huge Ecosystem of Apps
    Platforms like Xero, Microsoft, Intuit, and NetSuite each foster a vast marketplace of specialized apps—from expense management and payroll to advanced reporting and AI-driven analytics. This “plug-and-play” model lets you tailor your tech stack with minimal cost and effort. You’re no longer locked into a single vendor’s limited offerings.

  • Strong Security and Compliance
    Enterprise-level providers devote enormous resources to staying compliant with evolving regulations and security threats. When connecting Re-Leased (or any specialized software) to Xero or Microsoft, you inherit layers of security built for high-stakes financial data.

  • Future-Proof Innovation
    Leading providers constantly update their platforms with new features, improvements, and integrations. By selecting platforms that are actively innovating, you stay on the cutting edge—ready to embrace new technologies like AI and machine learning.

The Power of Specialization

By choosing a dedicated property management platform (Re-Leased) and connecting it to your preferred accounting platform, you get:

  • Deep expertise on both sides
  • We pour our R&D into the unique needs of property teams: tracking leases, maintenance tasks, rent rolls, critical dates, and more.
  • Your accounting provider (Xero, Microsoft, etc.) devotes its resources to best-in-class financial management, compliance, and reporting.
  • Seamless Collaboration
  • Modern APIs ensure real-time sync, so financial transactions move automatically between Re-Leased and your accounting system.
  • No more juggling spreadsheets or duplicating data entry—accounting and property teams share a single source of truth.
  • Need extra reporting power? Connect a specialized analytics tool via your accounting platform’s app marketplace.
  • Want to automate invoice approvals? Integrate a third-party solution built specifically for that task.
The result is a custom ecosystem that meets your exact business requirements—without compromising on quality.

Ensuring Everyone Has the Right Tools

Older, monolithic systems required compromise. Accounting teams might have gotten what they needed, but property management teams were left behind. With an integrated approach:

  • Property teams gain intuitive features purpose-built for their workflows and complete visibility into key data.
  • Accounting teams maintain control over sensitive financial information in a system they trust, without sacrificing integration.

It’s a win-win, enabling each side of your business to operate effectively without stepping on each other’s toes.

The Outcome: Best-in-Class, End-to-End

 
By pairing specialized property management software like Re-Leased with industry-leading accounting providers such as Xero or Microsoft, real estate businesses can:

 

  • Eliminate Data Silos: Everyone works from the same up-to-date data, minimizing errors and communication lag.
  • Empower Teams: Give property managers a feature-rich platform while accountants enjoy robust financial tools.
  • Leverage Wider Ecosystems: Seamlessly plug in specialized apps that suit your unique processes—from AI-driven analytics to advanced CRM solutions.
  • Keep Costs Manageable: Avoid the monumental expense of running or customizing a do-everything ERP. Choose the apps you need, pay for what you use.

Conclusion

Today’s fast-paced real estate environment demands modern solutions that are flexible, robust, and future-ready. By integrating a dedicated property management platform with the market’s best accounting solutions, you’re no longer forced to compromise. You can harness the combined power of tools from industry leaders like Xero, Microsoft, and others—ensuring you stay agile, competitive, and prepared for whatever comes next.

At Re-Leased, we’re proud to stand at the forefront of this new era. Our mission is to give property teams and accounting professionals the best of both worlds: specialized workflows and seamless financial reporting. If you’re ready to discover how a tailored, integrated tech stack can supercharge your real estate business, get in touch with us today. Your entire team—and your bottom line—will thank you.

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