Bookkeeping for Property Managers
& Real Estate Investors

When you collect rent and hold security deposits on behalf of property owners, that money is not yours: it is held in trust. Trust accounting means keeping those funds in a dedicated bank account, recording every receipt and payment against the right owner, property and tenant, and reconciling the account every month. Real estate regulators in most US states and Canadian provinces set rules for how client funds are held, and they expect clean, reconciled trust records.

A three-way reconciliation compares three numbers that must agree: the balance on the trust bank statement, the trust account balance in your accounting system, and the total of all individual owner and tenant ledgers. If any of the three differ, money has been mis-posted, a deposit or payment is missing, or funds have been mixed between owners. We complete it every month and resolve every difference before the books are closed.

A good owner statement shows the opening balance, rent and other income collected, management fees, repairs and other expenses with their supporting bills, any reserve held back, the amount distributed to the owner, and the closing balance. It should tie exactly to the owner's ledger and to the trust reconciliation for the same month.

Yes. We work inside AppFolio and Buildium as well as QuickBooks Online and Xero. We can take over monthly bookkeeping in the system you already use, or clean up and catch up an account that has fallen behind, including bank and trust reconciliations and owner balances.

Security deposits are a liability, not income: they belong to the tenant until the lease ends and the deposit is returned or applied to charges. They should be recorded against the tenant's ledger, held in trust where the law requires it, and released only when the lease is closed out. Recording deposits as income overstates revenue and leaves the trust account short when a deposit has to be repaid.

Yes. We track income and expenses by property, and by unit where you need it, so you can see which properties perform and which do not. We can also build a KPI dashboard covering the measures you manage by, such as occupancy, collections and maintenance spend.