Today, ReInvestWealth is excited to announce a new partnership with Hostaway, designed to revolutionize bookkeeping and financial management for property managers. ReInvestWealth, a unique AI-powered accounting solution, streamlines bookkeeping with AI efficiency, eliminating error-prone and costly manual bookkeeping processes. This partnership aims to simplify financial workflows, allowing Hostaway’s property managers to focus on what they do best, delivering exceptional guest experiences, while effortlessly managing their finances in the background.
US and Canadian property managers waste an average of 4 hours per month on manual data entry, time better spent growing their businesses. In 2024, AI adoption soared, with 70% of American and 54% of Canadian businesses leveraging AI to streamline operations. A staggering 93% reported AI as helpful for managing business and productivity.. ReInvestWealth's AI-powered accounting software eliminates tedious bookkeeping, empowering property managers to reclaim hours each month.
Hostaway And ReInvestWealth Partnership
This new partnership unites the cutting-edge capabilities of two industry leaders: Hostaway’s powerful booking synchronization platform and ReInvestWealth’s innovative AI-driven financial tools. As DMZ-incubated startups, Hostaway and ReInvestWealth have joined forces to deliver an unparalleled solution for property managers, empowering them to seamlessly manage their rentals and streamline their finances like never before. Working together, the property management space will be redefined with greater efficiency and innovation.
How ReInvestWealth Supports Property Managers
1. Automating Bookkeeping Tasks
Gone are the days of manually inputting financial data. ReInvestWealth’s AI Bookkeeper connects with financial institutions, captures financial transactions, categorizes them accurately, and ensures they’re accurately recorded. This means property managers will be spending less time on tedious administrative work and more time focusing on growing their rental business.
2. Smart Receipt Management
ReInvestWealth uses AI to analyze every receipt uploaded onto the platform, matching them with corresponding bank transactions and fully automating bookkeeping. Linking receipts with transactions not only keeps businesses audit-compliant but also makes financial reports more detailed.
3. Simplifying Payments with Stripe
Both ReInvestWealth and Hostaway seamlessly integrate with Stripe, enabling property managers to track payments, manage refunds, and reconcile accounts effortlessly. With auto-reconciled payment processing, Hostaway customers will enjoy a smooth record-keeping experience.
4. Providing Clear Financial Insights
ReInvestWealth generates comprehensive financial reports, including profit and loss statements, balance sheets, and general ledger reports, tailored specifically for simplicity. With these insights, property managers can make informed decisions to optimize their business operations.
5. Handling Tax Compliance
Taxes can be a headache, especially for property managers dealing with multiple jurisdictions. ReInvestWealth simplifies tax reporting by tracking income and expenses across all properties, ensuring you’re prepared for tax season. ReInvestWealth’s affordable filing partners support tax filing in both Canada and the USA.
Get Started Today
Managing vacation rentals doesn’t have to be a juggling act. With Hostaway and ReInvestWealth partnering together, property managers will now have access to a comprehensive solution that simplifies both business operations and financial oversight. Start with a 30-day free trial today.
