NetSuite is a leading cloud ERP platform and, by 2026, it has become a go‑to system for property management companies that have outgrown entry‑level tools. Unlike standalone property management software, NetSuite provides a unified platform that connects lease management, tenant billing, financial reporting, maintenance workflows, vendor management, and multi-entity accounting into a single real-time system. When extended with property management SuiteApps, NetSuite also supports unit level tracking, lease administration, and tenant management functionality within the same environment.
Property managers using NetSuite gain complete portfolio visibility, eliminate manual reconciliation, and close their books significantly faster than companies operating with disconnected tools.
This guide covers everything a property manager needs to know, from core capabilities and daily workflows to SuiteApps, pricing, and implementation, so you can evaluate NetSuite with confidence.
NetSuite is a cloud-based Enterprise Resource Planning (ERP) platform. Originally built for mid-market and enterprise businesses, NetSuite has expanded through native capabilities and a marketplace of "SuiteApps" to serve a wide range of industries, including real estate and property management.
For property managers, the most important thing to understand is this: NetSuite is not just accounting software, and it is not just a property management portal. It is the operational backbone of your entire business, connecting your properties, your tenants, your vendors, your team, and your finances in one place.
Most property management companies begin their technology journey with a purpose built property management system. These platforms are excellent for managing a small-to-mid portfolio. But as companies scale, they hit a wall:
NetSuite addresses these challenges on a single cloud platform that can scale from 10 properties to 10,000.
Let's break down NetSuite's capabilities into the specific workflows property managers handle every day.
NetSuite, extended by property management SuiteApps such as Rioo or Propertese, supports the full lease lifecycle from initial inquiry and tenant screening through lease signing, renewals, escalations, and terminations. You can configure:
NetSuite eliminates manual invoicing. Once leases are configured, rent invoices generate automatically based on your billing schedule, whether monthly, quarterly, or annually, and are sent directly to tenants without manual intervention.
Industry Benchmark: Many property managers using billing automation report measurable improvements in on time rent collection within the first six months of go live. Manual follow up on arrears is significantly reduced when automated reminder workflows are active.
For commercial property managers, CAM reconciliation is one of the most time consuming and error prone processes in operations. NetSuite supports the full CAM billing cycle:
NetSuite’s case management module, extended by property management SuiteApps, provides a complete maintenance workflow:
This is where NetSuite becomes particularly strong for growing portfolios. If your company operates multiple LLCs, whether one per property or per development project, NetSuite OneWorld manages them within a single platform.
Property management involves numerous vendor relationships including maintenance contractors and service providers. NetSuite manages the full accounts payable workflow:
Real-time reporting is where NetSuite's ERP architecture gives property managers a significant advantage over PM-specific tools.
NetSuite's native capabilities are powerful, but most property managers benefit from adding a property management SuiteApp, a purpose built extension that adds features such as unit records, lease contracts, tenant portals, and utility billing.
Here is a concise overview of leading SuiteApps in 2026:
| SuiteApp | Best For | Standout Feature |
|---|---|---|
| RIOO | Residential, commercial, and mixed use portfolios operating on NetSuite | Property, unit, lease, and billing management built directly inside NetSuite with structured configuration and operational workflows |
| Propertese | Residential and commercial property managers using NetSuite | Comprehensive lease lifecycle management with tenant portal and maintenance tracking |
| Re-Leased | Commercial focused operators integrating external PMS with NetSuite financials | Dedicated commercial lease administration platform with accounting synchronization to NetSuite |
| SuiteWorks Tech | Organizations requiring advanced recurring billing within NetSuite | Contract driven recurring billing and revenue scheduling for complex invoicing models |
| CloudTamers Fixed Assets Lease Accounting | Lease accounting and compliance teams within NetSuite | Automated IFRS 16 and ASC 842 calculations including asset capitalization and liability amortization |
| NetLease | Lessee side lease accounting teams on NetSuite | Right of use asset tracking and lease liability management for compliance reporting |
A Note on RIOO: RIOO supports property management companies operating residential, commercial, and mixed use portfolios within NetSuite. It covers property, unit, lease, and billing workflows across multifamily, single family, student housing, retail, office, and industrial assets.
The SuiteApp is designed to align operational property management processes directly with NetSuite’s financial structure, allowing teams to manage both day to day activities and accounting within the same system.
For a deeper look at how this works in practice, see our guide on NetSuite customization for real estate companies.
One of the most practical questions property managers ask is: "What does it actually feel like to use NetSuite day-to-day?"
Here's a snapshot:
| Task | Without NetSuite | With NetSuite |
|---|---|---|
| Morning arrears check | Export A/R from property tool, sort in Excel | Live A/R aging dashboard available instantly |
| Rent invoice creation | Manual invoice creation per tenant each month | Auto generated invoices each billing period |
| Maintenance request routing | Email coordination and follow up phone calls | Automatic case creation with vendor assignment and PO generation |
| Month end close | 15 to 20 days of reconciliation across spreadsheets | 3 to 5 day close with automated consolidation and exception review |
| CAM reconciliation | 3 to 4 weeks of manual Excel calculation | Automated year end true up with audit documentation |
| Investor reporting | Custom Excel model rebuilt each quarter | Scheduled reporting package generated directly from NetSuite |
| Vendor bill coding | Manual coding per bill with emailed approvals | Three way match, property level coding, and structured approval workflow |
NetSuite is not the right tool for every property manager. Here is a clear and practical breakdown of who benefits most and who should consider alternative solutions.
A Practical Decision Rule: If your accounting team spends more than five days per month on manual reconciliation, if you manage more than two legal entities, or if consolidated financials require exporting data to Excel, NetSuite is likely worth evaluating from an ROI perspective within 12 to 18 months of go live.
Check out NetSuite for property management for detailed underatnding
A typical implementation takes 12 to 20 weeks from kickoff to go live, depending on portfolio complexity and data quality. Below is a phase by phase overview.
| Phase | Duration | Key Activities | Deliverables |
|---|---|---|---|
| Discovery and Requirements | Weeks 1 to 3 | Stakeholder interviews, process mapping, entity structure review | Requirements document, project plan |
| Design and Configuration | Weeks 4 to 8 | Chart of accounts setup, property and unit records, lease templates, billing schedules | Configured NetSuite sandbox |
| SuiteApp Setup | Weeks 6 to 9 | Property management SuiteApp configuration and workflow automation | PM module configured |
| Data Migration | Weeks 9 to 13 | Property, tenant, lease, and financial data migration with validation | Clean data in NetSuite |
| Testing and Training | Weeks 13 to 16 | User acceptance testing, role based training, parallel run | Trained users and validated workflows |
| Go Live and Stabilization | Weeks 16 to 18 | Production go live, hypercare support, issue resolution | Live system and support plan |
For detailed understanding on check NetSuite implementation guide
1. Underestimating data migration complexity
Tenant histories, open balances, and lease records require careful mapping and validation. Many projects underestimate the time required to cleanse and reconcile historical data.
2. Skipping change management
User adoption is often the primary implementation risk. Role based training and clear process ownership significantly improve long term success.
3. Over customizing in Phase 1
It is usually more effective to go live with standard workflows first, then introduce additional automation after real world usage reveals where it adds the most value.
4. Choosing the wrong SuiteApp
Evaluate multiple SuiteApps with structured demos before committing. The right choice depends on property mix, reporting needs, and internal process maturity.
5. Underestimating the post go live phase
The first several months after launch often reveal opportunities for refinement, additional automation, and reporting optimization.
Read our detailed guide on NetSuite implementation for real estate companies to understand the full process
NetSuite supports multiple roles across a property management organization. While each team member uses the system differently, everyone operates within the same data environment, eliminating silos between operations and finance.
| Role | Primary Use Cases | System Interaction |
|---|---|---|
| Property Manager | Lease oversight, arrears monitoring, maintenance tracking | Lease records, dashboards, case management |
| Leasing Agent | Lead tracking, application processing, lease generation | CRM pipeline, document workflows |
| Maintenance Coordinator | Work order routing, vendor coordination | Case management, purchase orders |
| Accounts Receivable | Rent billing, payment processing, aging review | Billing schedules, A/R dashboards |
| Accounts Payable | Vendor bills, approvals, payment runs | PO matching, approval workflows |
| Controller / Accountant | Close management, reconciliations, reporting | Period close tools, consolidation reports |
| CFO / Finance Director | Portfolio performance, consolidated reporting | Executive dashboards, analytics |
| Asset Manager | NOI tracking, occupancy analysis, lease expiry forecasting | KPI dashboards, lease analytics |
NetSuite is designed to function as a central ERP platform. Through APIs and integration tools, it connects with many of the operational systems property managers rely on.
| Category | Typical Use Case |
|---|---|
| E-Signature | Lease execution and vendor agreement signing |
| Payment Processing | Tenant rent collection and vendor disbursements |
| Tenant Screening | Credit and background verification |
| Listing Platforms | Vacancy advertising and lead capture |
| Building Management Systems | Utility metering and maintenance alerts |
| Banking & Cash Management | Automated bank feeds and reconciliation |
| Business Intelligence Tools | Advanced analytics and custom dashboards |
| HR & Payroll | Payroll allocation and workforce cost tracking |
In most architectures, NetSuite acts as the system of record, while specialized tools integrate around it for niche functionality.
As property management companies scale, regulatory and accounting compliance becomes increasingly important. NetSuite includes modules and extensions that support major accounting standards relevant to the real estate industry.
For property managers who are also lessees of office space, equipment, or ground leases, NetSuite supports right-of-use asset tracking, lease liability amortization, and required disclosure reporting under ASC 842 and IFRS 16. These capabilities are typically managed through dedicated lease accounting functionality within the NetSuite ecosystem.
For firms generating service-based revenue such as management fees or development fees, NetSuite’s revenue recognition framework supports allocation and timing rules in accordance with ASC 606.
Under GAAP, rental income may need to be recognized on a straight-line basis over the lease term. NetSuite supports automated straight-line rent calculations and scheduled journal entries, reducing reliance on spreadsheet-based adjustments at month-end.
NetSuite tracks vendor payments throughout the year and supports 1099 reporting with audit trails, simplifying year-end compliance and documentation.
Most property managers begin with purpose-built property management platforms designed for operational simplicity. As portfolios grow, accounting complexity, entity structure, and reporting requirements often outpace those systems. The comparison below highlights the structural differences.
| Capability | Entry-Level PM Software | NetSuite |
|---|---|---|
| Multi-entity accounting | Limited or requires external accounting system | Native multi-subsidiary structure |
| Consolidated reporting | Manual spreadsheet consolidation | Real-time consolidated financials |
| Intercompany eliminations | Not supported | Automated eliminations |
| Lease accounting compliance | Limited or add-on functionality | Supported through accounting modules |
| International operations | Rarely supported | Native multi-currency and tax support |
| Portfolio scalability | Typically suited for small-to-mid portfolios | Designed to scale across large portfolios |
Entry-level systems are often sufficient for small portfolios focused primarily on rent collection and tenant communication. NetSuite becomes more relevant when financial complexity, investor reporting, or multi-entity operations require a deeper ERP foundation.
Property management becomes more complex as portfolios grow. Multiple entities, investor reporting, compliance requirements, and operational scale quickly outpace entry-level tools.
NetSuite provides a unified ERP platform that connects lease management, tenant billing, vendor workflows, financial reporting, and multi-entity accounting in one system. For growing property management companies, this shift is not just about automation. It is about building a financial and operational foundation that supports long-term scalability.
Smaller portfolios may continue to operate effectively on lightweight property management software. But for firms managing multiple properties, entities, or investor relationships, evaluating an ERP platform like NetSuite becomes a strategic step forward.
Ready to Evaluate NetSuite for Your Portfolio?
If your team relies heavily on spreadsheets, manual consolidations, or disconnected systems, it may be time to assess whether NetSuite aligns with your growth plans.
RIOO works with property management companies to design and implement NetSuite solutions tailored to portfolio structure and reporting needs.
If you are exploring your next phase of system maturity, a structured evaluation is the right place to start.
What is NetSuite property management software?
NetSuite property management software refers to Oracle NetSuite’s cloud ERP platform configured for real estate and property operations. It combines financial management, lease administration, tenant billing, vendor workflows, maintenance tracking, and multi-entity reporting within a single cloud system.
Most property managers extend NetSuite with a purpose-built SuiteApp such as Rioo to add unit records, lease contracts, tenant portals, CAM billing, and property-specific workflows directly inside the ERP.
Does NetSuite include property management features out of the box?
NetSuite includes strong native financial capabilities such as accounts receivable, accounts payable, fixed asset management, revenue recognition, and multi-entity consolidation.
However, full property management functionality including lease contracts, unit tracking, escalations, CAM reconciliation, and tenant portals is typically delivered through a real estate SuiteApp built on top of NetSuite. These extensions operate inside the same platform and do not require a separate accounting system.
How long does it take to implement NetSuite for a property management company?
A typical NetSuite implementation for a property management firm takes between 12 and 20 weeks, depending on:
Number of properties and leases
Entity structure complexity
Data migration requirements
Level of customization
Simpler portfolios may go live faster, while multi-entity or international operations may require additional time for configuration and testing.
Can NetSuite manage both residential and commercial properties?
Yes. With the appropriate configuration and SuiteApp, NetSuite can manage residential leases, commercial NNN leases, mixed-use portfolios, student housing, and other asset classes within the same system.
Different lease structures, billing rules, and reporting requirements can be handled simultaneously across multiple property types and entities.
How does NetSuite handle multi-entity property portfolios?
NetSuite OneWorld is designed for companies operating multiple LLCs, subsidiaries, joint ventures, or funds.
Each entity is configured with its own chart of accounts, balance sheet, and income statement. Intercompany transactions such as management fees or shared service allocations are tracked automatically, with eliminations applied during consolidation. Finance teams can view real-time consolidated reporting across the full portfolio without exporting data to spreadsheets.
Can rent collection be automated in NetSuite?
Yes. Lease billing schedules drive automatic invoice generation based on defined terms. Payment reminders can be configured at custom intervals, and late fees can be calculated automatically.
When integrated with payment processing tools, tenants can pay online via ACH or credit card, and cash application can be automated to significantly reduce manual reconciliation effort.
Does NetSuite support ASC 842 and IFRS 16 lease accounting?
NetSuite supports ASC 842 and IFRS 16 compliance through native accounting features and specialized lease accounting extensions within its ecosystem.
This includes right-of-use asset tracking, lease liability amortization schedules, journal entry automation, and disclosure reporting for companies acting as lessees.
How much does NetSuite cost for a property management company?
NetSuite pricing varies based on portfolio size, number of users, entity structure, and selected SuiteApps.
As a general reference, first-year investment typically includes software licensing and implementation services. Costs increase with additional subsidiaries, automation complexity, and reporting requirements.
Companies should request itemized proposals to understand total cost of ownership rather than evaluating license fees alone.
Does NetSuite have a tenant portal?
NetSuite’s core platform does not include a built-in tenant-facing portal. However, most property management SuiteApps, including RIOO, provide a tenant portal for lease access, maintenance requests, statements, and online payments.
All tenant interactions sync directly with NetSuite so operational and financial data remain centralized.
What is the best way to evaluate NetSuite for a property management company?
Start by identifying where your current system creates friction. Common indicators include manual reconciliation, spreadsheet-based consolidation, limited multi-entity visibility, and reporting constraints.
Then evaluate NetSuite against your real workflows. Request demonstrations based on your property types and billing structures. Assess at least one dedicated property management SuiteApp such as RIOO to understand how operational processes integrate with financial reporting inside the ERP.
A structured evaluation focused on scalability and reporting clarity typically produces the most accurate decision outcome.