Residential Real Estate Accounting

Residential Real Estate Accounting Services

Looking for top-notch accounting services for residential property management companies? Look no further than OHI. We specialize in providing comprehensive accounting solutions tailored to the unique needs of residential property management firms. Our services encompass financial management, real estate outsourcing, and more. As experts in residential property management, we optimize your financial operations, ensuring seamless efficiency and enhanced profitability.

With OHI, you gain access to expert accounting for residential property management companies. Our services cover financial statement preparation, budgeting, cash flow management, and accounts payable/receivable. Additionally, we offer real estate outsourcing services, including lease administration, tenant account management, CAM and expense reconciliations, and vendor management. By partnering with OHI, you benefit from industry expertise, customized solutions, and cost-effective strategies.

Maximize your business potential with OHI’s residential property management accounting services. Say goodbye to manual tasks and hello to streamlined processes and real-time financial insights. Trust OHI to optimize your accounting operations, allowing you to focus on delivering exceptional residential property management services. Contact us today to explore how we can support your success.

Residential Real Estate Accounting

Our Services

Outsourced tenant accounting services

Tenant Accounting

Lease setup, move-ins, move-outs

Accounts payable services

Accounts Payable

Entry of invoices including 2/3 way matching with POs, utilities and payments

Outsourced accounts receivable services

Accounts Receivable

Monthly rent run, processing rental receipts and section 8 rent receipting

General & Month End Accounting in Canada

General & Month End Closing

Prepare schedules of month end utility, expense accruals and prepaid expense amortizations, management fee calculations and inter company accounting

Outsourced Reconciliation services

Reconciliations

Operating and security deposit bank account reconciliations, tax, insurance, mortgage insurance and replacement reserve reconciliations

Fixed asset accounting services

Prepare/Track Fixed Assets

Updating fixed asset register with new asset additions, dispositions and write-offs for property including to the unit (apartment) level

Monthly financial reporting services

Monthly/Quarterly Financial Reporting

Comprehensive monthly financial reporting packages including actual-budget variance analysis for revenues and expenses

Low cost Rent roll anlaysis services

Rent Roll Analysis

Comprehensive rent roll analysis of a property for buyers covering financial analysis, tenant analysis, location review among others

Lender reporting services

Lender Reporting

Financials, leasing reports, property management executive summaries and other reports with respect to the property, borrower and guarantor

Budgeting Support & Analysis Services in Canada

Budgeting Support & Analysis Services

Prepare budgets, financial analysis and cash flow forecasting

Accounting software upgrade/change over services

Software Upgrade/Changeover Services

Prepare software transition plans, set-up chart of accounts/tenant accounts/vendors, 2 way/3 way GL and bank reconciliations and handle accounting migration

Backlog and clean up accounting services

Backlog and Clean-up Accounting Services

Clearing backlog of un-posted historic transactions, correction of existing miscoded GL entries, clean-up of chart of accounts and reconciling historic accounts with bank, credit card etc

Outsourced investor reporting services

Investor Support Services

Create and maintain investor waterfalls and cap tables, administrative processing investor contributions calls and disbursement proceeds, and investor reporting activities

Other Services

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    Leasing

    Lease Abstraction | Lease Entry | Lease Administration | Lease Audit | Lease Review | CAM Reconciliation

  • Building icon

    Asset Management

    Property & Portfolio Level Dashboards | Hold vs Sell Analysis | Cash Flow Projections | Asset Level Budgets

  • Shop Icon

    Investment Analysis

    Rent Roll Analysis | Financial Analysis | Market Research | Cash Flow Modeling | Hold Vs Sell Analysis

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    Back Office Support

    Maintenance Support Services | Document Management | Insurance Management-Renewals and Claims | Marketing Support

Residential real estate accounting services

Interested In Knowing More

Watch it in Action

Software Expertise

Yardi logo
Sage logo
AppFolio logo
Avidxchange logo
Procore logo
Propertyware logo
Realpage logo
Entrata-logo
Quickbooks logo
MRI Logo
Argus logo
Rent Manager logo
SAP Logo
Nexus logo
Oracle logo
Buildium-logo

Pricing

The indicative standard charges for Property Management Accounting Services (Accounts Payable Specialist, Accounts Receivable Specialist, Property Accountant and Senior Property Accountant roles) are listed below. Custom packages of 25, 50 and 80 hours per month are available.

AP Specialist

$1800

Onwards. (160 hours per month)

AR Specialist

$2000

Onwards. (160 hours per month)

Property Accountant

$2400

Onwards. (160 hours per month)

Sr. Property Accountant

$3200

Onwards. (160 hours per month)

Staff Profiles

Accounting services

Other Service Packages

  • 1

    Backlog Accounting

    Clearing backlog of un-posted historic transactions, reconciling historic accounts with bank/vendor/customer statements, and bringing books upto date.

  • 2

    Cleanup Accounting

    Clean-up of chart of accounts including removing redundant accounts, updating vendor, customer and inventory lists, and correction of existing miscoded invoices, GL entries etc,.

  • 3

    Software Transition Support

    Accounting software transition including set-up of lists, mapping new to old chart of accounts, posting transactions in parallel runs, and 3 Way Reconciliations between Old Vs New Vs Statements.

Contact Us
Property Management | Multi-Family

A midsized real estate property management firm based out of Beverly Hills, CA. The firm manages over 50 properties, across 9 states, encompassing over 1200 tenants and nearly 1.5 million square feet.

Owner/Developer | Multi-Family & Senior Housing

A vertically integrated, full service real estate company based out of Bellevue, WA. They specialize in commercial properties. The firm has developed and built in excess of 81 properties and have more than 10,000 units under management.

Property Management | Multi-Family

A mid-size real estate firm in Miami, Florida. The company manages over $300 million of real estate, over 4500 apartments and have been appointed receivers on over 15 properties.

Owner/Developer | Affordable & Student Housing

An owner/manager of high-quality multifamily communities in the Tri-State and Mid-Atlantic regions, in addition to affordable and student housing properties around the United States. Their portfolio has comprised over 15,000 apartment units representing over $2 billion in value.

Asset Management | Tax Credit & HUD Properties

A leading Kansas housing development and management firm specializing in HUD Section 8, Low-Income Housing Tax Credit, and U.S.D.A.

Property Management | Single & Multi-Family

A full service property management company based out of Denver (CO) with extensive experience in both single and multifamily residential rental properties.

Property Management | Multi-Family

A rapidly growing real estate firm based out of Tacoma, Washington. They specialize in commercial brokerage of larger multifamily complexes throughout the Pacific Northwest.

Property Management | HOA

A full-service real estate management firm that handles multi-family residential and commercial properties throughout Southern California and Arizona.

Contact Us

    FAQ

    What are residential real estate accounting services?

    Residential real estate accounting services refer to specialized financial and accounting services tailored for individuals and companies involved in the residential real estate industry. These services help manage and optimize financial records, tax compliance, bookkeeping, and other financial aspects specific to residential real estate operations.

    Why should I consider outsourcing residential real estate accounting services?

    Outsourcing residential real estate accounting services offers several benefits. By relying on expert professionals, you can save time, reduce costs, and ensure accurate financial reporting. Outsourcing allows you to focus on core business activities while leaving the complexities of accounting and taxation to specialists who understand the unique requirements of the residential real estate sector.

    What services do residential real estate accounting firms offer?

    Residential real estate accounting firms offer a wide range of services, including but not limited to bookkeeping, financial statement preparation, budgeting and forecasting, tax planning and compliance, rental property accounting, cash flow management, loan reconciliation, and financial analysis. These services are customized to meet the specific needs of residential real estate businesses and investors.

    Can residential real estate accounting services assist with property management accounting?

    Yes, residential real estate accounting services often include property management accounting. These services involve tracking rental income and expenses, handling security deposits, reconciling bank accounts, generating monthly owner statements, and preparing year-end financial reports. By outsourcing property management accounting, landlords and property managers can streamline their financial processes and gain valuable insights into the financial performance of their properties.

    How do I choose the right residential real estate accounting service provider?

    When selecting a residential real estate accounting service provider, consider factors such as their experience in the real estate industry, expertise in residential accounting, reputation, range of services offered, pricing structure, and client reviews. It’s advisable to choose a provider that understands the unique challenges of the residential real estate sector and can offer personalized solutions to meet your specific needs.

    Certifications And Membership