Property management accounting and bookkeeping services
We help you step back from accounting operations so you can focus on running your businesses.
Property accounting services
Accounts payable
Per unit for residential, SQFT for commercial, and based on asset class.
Accounts receivable
From applicant fees to tenant receipts, and move in and move out accounting, we understand the need for excellence in bookkeeping for property management companies. You can rest easy knowing we’ll enter all receipts and keep your ledgers up to date.
Trust accounting
Security deposit hiccups? Bank transfer confusion? Worry not! Our accountants are well versed in property management bookkeeping, and will review your entire portfolio to ensure reconciliation reports are up-to-date and cash balances cover liabilities.
Best practices
From setting up your accounting flows to optimizing your software, our specialized accounting services for property management create strong controls to ensure quality and efficiency.
Getting started
We know the sensitive nature of changing the way you do business. That’s why we designed our onboarding process to leave no stone unturned.
Step 1
We’ll align on expectations, then document all your current processes, pain points, goals, and nuances to the way you do business.
Step 2
We’ll work with you to complete an intake questionnaire with you to better understand your AP, AR, bank reconciliations, financial reporting, and close processes.
Step 3
During our initial due diligence and onboarding process, we’ll inform you of any opportunities for improvement including:
- Financial controls
- Workflows
- Software optimization
And will continue to enhance your accounting operations throughout the duration of our partnership.
Your Onboarding
During Onboarding, you have a dedicated team to thoroughly assess your current processes, pain points, goals, and business nuances.
Meet your onboarding team
Your Onboarding team will align expectations, define mutual responsibilities, and establish best communication practices as you grant access to necessary information.
Documenting & establishing procedures
We'll assist in completing questionnaires for AP, AR, bank recs, financial reporting, and close processes to ensure your software and procedures are optimized.
Practice makes perfect
When we have the necessary information, we'll perform our duties and seek feedback for adjustments.
A smooth transition
Once Onboarding stabilizes, accounting operations transition to the Processing team. You retain ownership of AP, bank reconciliation, and close procedures until the billing start date, and your Onboarding team stays on until the transition is complete.
Frequently Asked Questions
How are your services priced?
Per unit for residential, SQFT for commercial, and based on processing volume and level of complexity. We perform a free mini audit to measure volume and complexities to get you a precise estimate.
Will you talk to my owners and tenants?
Once Onboarding is complete, and we’re past the stabilization phase, we’re happy to step in from time to time if it helps, but keeping up personal relationships with your owners and tenants is an important part of your business. Instead of fielding questions directly, we empower you with all the information you may need to clearly communicate with your owners and tenants.
Who does Proper work with?
We work with property management companies, property owners, and just about anyone in the world of real estate who needs expert property accounting and bookkeeping services!
Do you provide tax services?
We keep vendor information updated to ensure 1099 readiness, and provide your 1099 detail report to review and approve before filing.