Property Management
Property Management Accounting: How It Works, Month by Month
How property management accounting works: trust vs. operating books, daily bookkeeping, the monthly close, and a sample owner statement that adds up.
Property management accounting & bookkeeping services
Outsourced property management accounting that keeps owner funds, trust accounts, and your own operating books accurate, so you can add doors without adding back-office staff.
Property management accounting is two businesses in one set of books
Property management company accounting covers two businesses at once: the company’s own (fees, payroll, overhead) and the money it holds and spends for property owners and tenants. Good property management accounting keeps those two worlds separate and makes sure every dollar of owner and tenant money is accounted for, every month.
When it slips, the symptoms are familiar: owner statements that go out late or need corrections, trust bank balances that don’t match the software, security deposits nobody can fully tie out, and management fees that never quite make it to the operating account. We fix those problems and put a monthly process in place to keep them from coming back.
Our property management accounting services
Property management bookkeeping
Day-to-day property management bookkeeping done right: recording rent and other tenant charges, posting receipts, entering and paying vendor bills by property, and keeping tenant and owner ledgers current. You get an experienced property management bookkeeper without hiring, training, or covering for one.
Trust account reconciliation
Every month we reconcile your trust accounts three ways: the bank statement, the trust ledger, and the total of individual owner and tenant balances. Differences get resolved before they grow. Learn more about our property management trust accounting.
Owner statements and distributions
We prepare and review monthly owner statements, confirm owner balances and reserves, and prepare distributions for your approval. Owners get accurate statements in the same format every month.
Monthly close and financial statements
We close the books every month for your management company: reconciling operating accounts, recording management and leasing fees, and producing a profit & loss, balance sheet, and cash flow statement so you can see how the business is really performing.
Security deposit tracking
Deposits are recorded as liabilities and tied to each tenant, so move-outs, refunds, and deductions are handled cleanly. Each month we reconcile the total deposit liability to the funds you actually hold.
Cleanup, catch-up, and software transitions
Behind on reconciliations or switching systems? We bring the books current, correct the ledgers, and help move your data to the new system.
Why property managers outsource accounting to JAV
- Real estate specialists. We focus on real estate, so trust accounting, owner reporting, and per-property books are our everyday work, not an edge case.
- Senior oversight. Your accounting is led by a founder with more than 30 years of accounting experience. She was formerly a partner at an accounting firm that served mortgage companies, where she led the accounting and consulting department.
- Scales with your portfolio. Add doors, owners, or entities without hiring. We can run your entire accounting function or support the team you already have.
- Clear numbers, on time. A predictable monthly close and reports that answer the questions owners actually ask.
Own rentals yourself rather than managing them for others? See bookkeeping for rental property. Investors and real estate firms may also want a dedicated real estate bookkeeper, or see all of our real estate accounting services.
Why JAV Real Estate
I’ve spent more than 30 years in accounting. Earlier in my career I was a partner at an accounting firm that served mortgage companies, where I led the accounting and consulting department.
That work taught me what real estate books demand: detail down to the individual property, careful handling of money that belongs to other people, and reconciliations that are right every single month. I hold every client’s books to that standard, whether you manage properties for owners, own a few rentals, or sell homes for a living.
Susan Volpe, Founder
- 30+ years in accounting
- Former partner at an accounting firm for mortgage companies
- Led an accounting & consulting department
- Real estate and construction experience
From first call to books you trust
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01
Day 1
Free 30-minute call
We learn your properties, entities, software, and what’s not working. You leave with an honest read on your books, even if you don’t hire us.
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02
Onboarding
Cleanup & setup
We bring the books current, build a real estate chart of accounts, set up per-property tracking, and reconcile every account back to the bank.
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03
Every month
Monthly close
Transactions recorded, bank and trust accounts reconciled, and statements produced, plus a short summary of what changed and what needs your attention.
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04
Year-end
Tax-season handoff
Your CPA, or one of our CPA partners if you need one, gets an organized, reconciled package to prepare your return.
Frequently asked questions
What is property management accounting?
Property management accounting is the bookkeeping and reporting a property management company does for two sets of books: its own operating business, and the money it holds and spends on behalf of property owners and tenants. It includes collecting and recording rent, paying property expenses, reconciling trust accounts, tracking security deposits, distributing owner funds, and producing owner statements.
What is the difference between property management accounting and property management bookkeeping?
Bookkeeping is the day-to-day recording: rent receipts, vendor bills, deposits, and bank reconciliations. Accounting builds on that with the monthly close, owner statements, financial statements for the management company, and the review that makes sure trust balances, owner balances, and the bank all agree. We provide both, so you don’t need to hire a separate property management bookkeeper and accountant.
Do you work inside our property management software?
Usually, yes. During the consultation we’ll confirm which system you use and how data flows between it, the bank, and your general ledger. If a change of system would help, we can also help plan and carry out the move.
Can you take over owner statements and owner distributions?
Yes. We can prepare and review monthly owner statements, reconcile each owner’s balance, and prepare owner distributions for your approval, so owners get accurate statements on a predictable schedule.
Our books are behind. Can you catch them up?
Yes. We often start with a cleanup: reconciling trust and operating accounts back to the last point they agreed, correcting owner and tenant ledgers, and documenting any differences. Once the books are current, we move you onto a monthly process.
Do you handle trust accounting for property managers?
Yes. Trust accounting is a core part of property management accounting. See our property management trust accounting page for how we handle three-way reconciliations, security deposits, and audit readiness.
Other real estate accounting and bookkeeping services
Trust Accounting
Three-way reconciliations and security deposit tracking, documented and ready for review.
Real Estate Bookkeeping
A dedicated real estate bookkeeper for investors, developers, and real estate firms.
Rental Property Bookkeeping
Per-property books for landlords, tax-ready Schedule E categories, and clean year-end files.
Bookkeeping for Realtors
Commission tracking, deductible expenses, and tax-ready books for agents and brokers.
Property Management
Property Management
Property Management Chart of Accounts: Operating and Trust Template
A sample property management chart of accounts, split into operating and trust books, with owner ledger accounts and how each line maps to owner statements.
Real Estate Bookkeeping
Catch Up Bookkeeping for Investors: A Step-by-Step Plan
Months or years behind? A catch up bookkeeping plan for real estate investors: what to gather, the order of work, and the mistakes to avoid.
Take property management accounting off your plate
Book a free 30-minute consultation. We’ll review how your owner, trust, and operating books work today and show you what a clean monthly close looks like.