Prices checked on October 15, 2026 Prices change. Confirm on the vendor's site before you buy.
If you just bought your first rental, start free: TurboTenant for listings, screening ($45–$55, usually renter-paid) and online rent; Baselane Core for banking, rent and Schedule E; or Stessa Essentials for unlimited properties with bank feeds and rent. Add REI Hub if you want dedicated books without banking. Upgrade later only if you need e-sign leases, faster payouts or automation.
What First-Time Landlords Need
- Fill the vacancy. List the unit and screen applicants. TurboTenant includes both on its free plan.
- Collect rent. Online ACH/card with reminders. Free on TurboTenant, Baselane Core and Stessa Essentials.
- Keep simple books. Track income and expenses by property and produce a Schedule E. Baselane Core and REI Hub's free plan both include Schedule E reports. Stessa's Schedule E starts on Manage ($12/mo annual).
- Stay organized. One place for the lease, payments and maintenance notes.
Starter Stack (Free Plans)
| Need | Free option | Paid upgrade when… |
|---|---|---|
| List + screen + rent | TurboTenant ($0; screening $55 renter-paid on Free) | You want online leases/e-sign, income verification or free ACH (paid tiers from $12.42/mo) |
| Banking + rent + Schedule E | Baselane Core ($0) | You want 2-day deposits or auto-tagging (Smart $20/mo annual) |
| Accounting, unlimited properties | Stessa Essentials ($0) | You need Schedule E or legal forms (Manage $12/mo annual) |
| Bookkeeping only | REI Hub free (no auto import) | You want automatic bank import ($9/mo annual for up to 3 units) |
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Next reads: how to collect rent online, tenant screening checklist, and free vs paid landlord software.
Your First 30 Days, Step by Step
- Day 1–3: open a separate account for the rental. Baselane offers free property-specific accounts. Any separate checking account works.
- Day 3–7: set up your listing. On TurboTenant Free, write the description, add photos and publish. Listing review takes up to 48 hours on Free.
- Week 2: screen applicants. Use the same written criteria for everyone (see our screening checklist).
- Week 3: sign the lease. State-specific templates: TurboTenant (create and sign leases online from Essentials; the Landlord Forms Pack is $199 on Free), Stessa ($15 each on Essentials, unlimited on Manage). Check your state's requirements.
- Week 4: turn on rent collection. Invite the tenant, set autopay and late-fee rules, and collect the deposit online.
- Ongoing: categorize transactions monthly so Schedule E is ready at tax time.
First-Year Software Budget
| Approach | Year-one landlord cost (1 unit) | If you grow to 4 | If you grow to 10 |
|---|---|---|---|
| All free (TurboTenant + Baselane Core or Stessa Essentials) | $0 | $0 | $0 |
| Free + automated books (REI Hub) | $108 | $180 | $180 |
| One paid all-in-one (RentRedi annual) | $144 | $144 | $144 |
| TurboTenant Pro (lower screening, free renter ACH) | $199 | $199 | $199 |
Expect some costs to land on your tenant instead of you. On TurboTenant Free and Essentials, that's $55 screening and $2 per ACH payment. Tell applicants up front.
Beginner Mistakes Software Helps You Avoid
- Mixing personal and rental money. A separate account makes taxes far easier.
- Skipping screening for a "nice" applicant. Consistency protects you.
- Handshake late-fee rules. Put them in the lease and let the app enforce them.
- Losing receipts. Snap them into Stessa (5 free scans a month) or Baselane as you go.
- Waiting until April to do the books. Ten minutes a month beats a weekend of catch-up.
Who Each Starter Tool Is For
- TurboTenant: you need to find a tenant. Not for: banking.
- Baselane: you want a clean money setup from day one. Not for: listings.
- Stessa: you plan to buy more properties and want free, scalable accounting.
- REI Hub: you or your accountant want detailed books with depreciation.
- RentRedi: you'd rather pay one small bill than combine free tools.
Ready for the next step? See how to collect rent online and the full roundup.
What a Calm First Year Looks Like
Months 1–2
The unit is listed and screened, the lease is signed and rent is on autopay. You check the dashboard on the due date and the funds arrive in your rental account.
Months 3–11
Ten minutes a month to categorize transactions and attach receipts. A repair comes up and you record it against the property right away. Late fees, if any, are applied by the app according to the lease.
Month 12
You export Schedule E from Baselane Core or REI Hub (or Stessa Manage) and hand it to your tax preparer. Then you decide whether any paid upgrade earned its place for year two.
How We Checked
We read each vendor's own pricing and feature pages on October 15, 2026: TurboTenant pricing, Baselane pricing, Stessa pricing, REI Hub pricing, RentRedi pricing. We only state prices and features shown there. Where a vendor doesn't publish a number, we say "check vendor" rather than guess. Worked examples use the listed prices and simple, stated assumptions; your totals will depend on your plan, billing term and how tenants pay.
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Do I need paid software for one rental?
Often no. Free plans from TurboTenant, Baselane and Stessa cover listing or banking, screening or rent collection, and basic books.
What should I set up first?
Listing and screening so you can fill the unit, then online rent collection, then bookkeeping before tax season.
Do I need an LLC before using landlord software?
No. The software works for individuals and entities. Baselane lists entity-level bookkeeping if you form one later. Ask a legal or tax professional whether an LLC fits you.
What's the minimum software for one rental?
A way to collect rent online and a way to track income and expenses. TurboTenant, Baselane Core and Stessa Essentials do both for $0.
Should I use a property manager instead?
If you don't want to self-manage, compare flat-fee services like TurboTenant's Autopilot (call for pricing) with local managers. Software suits hands-on landlords.
How do I get a lease?
TurboTenant and Stessa offer state-specific lease templates. Check their plans for costs, and have a local professional review it if unsure.
When should I upgrade to paid software?
When a paid feature saves you clear time or money, for example automatic bank import or free renter ACH. See our free vs paid guide.
Is it OK to use several free tools at once?
Yes. A common starter stack is TurboTenant for leasing and Baselane Core for banking and books. Record each rent payment in one place only.
General information, not tax advice. Ask a tax professional about your situation.
Sources
- TurboTenant pricing: https://www.turbotenant.com/pricing/
- Baselane pricing: https://www.baselane.com/pricing
- Stessa pricing: https://www.stessa.com/pricing/
- REI Hub pricing: https://www.reihub.net/pricing/
- RentRedi pricing: https://rentredi.com/pricing/
All prices and features above come from these vendor pages, checked on October 15, 2026. Details we couldn't confirm there are left out.