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.
Our Services
Tenant Accounting
Lease setup, move-ins, move-outs
Accounts Payable
Entry of invoices including 2/3 way matching with POs, utilities and payments
Accounts Receivable
Monthly rent run, processing rental receipts and section 8 rent receipting
General & Month End Closing
Prepare schedules of month end utility, expense accruals and prepaid expense amortizations, management fee calculations and inter company accounting
Reconciliations
Operating and security deposit bank account reconciliations, tax, insurance, mortgage insurance and replacement reserve reconciliations
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/Quarterly Financial Reporting
Comprehensive monthly financial reporting packages including actual-budget variance analysis for revenues and expenses
Rent Roll Analysis
Comprehensive rent roll analysis of a property for buyers covering financial analysis, tenant analysis, location review among others
Lender Reporting
Financials, leasing reports, property management executive summaries and other reports with respect to the property, borrower and guarantor
Budgeting Support & Analysis Services
Prepare budgets, financial analysis and cash flow forecasting
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
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
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
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Asset Management
Property & Portfolio Level Dashboards | Hold vs Sell Analysis | Cash Flow Projections | Asset Level Budgets
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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
Interested In Knowing More
Watch it in Action
Software Expertise
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.
Staff Profiles
Accounts Payable Specialist
Accounts Payable Specialist can perform activities such as 2 Way/3 Way matching of invoices with POs and GRs/Packing Slips, entry of invoices and utilities, coding of expenses, entering checks for further approval, tracking payables, vendor reconciliations and other miscellaneous accounts payable activities.
Accounts Receivable Specialist
Accounts Receivable Specialist typically can perform activities such as invoicing, running rents (for real estate cos.), tenant/customer set-up and accounting, late fee processing, rent receipting/cash application services, tracking receivables, email and call based collection support, and miscellaneous accounts receivable tasks.
Property Accountant
Property Accountant can provide the following accounting services- General ledger accounting, payroll, bank reconciliations, inter-company accounting, monthly closing of books including finalization and simple monthly reporting with variance analysis.
Sr. Property Accountant
Sr. Property Accountant can provide the following services- General ledger accounting, cash flow projections and management, inter-company accounting, prepare budgets, analyze expense variances, review balance sheets, prepare monthly financials including detailed monthly reporting and assist Controller in month/year end activities.
Other Service Packages
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1
Backlog Accounting
Clearing backlog of un-posted historic transactions, reconciling historic accounts with bank/vendor/customer statements, and bringing books upto date.
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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,.
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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.
Our Blog
6 Residential Property Management Accounting Tips
Do you want to make the most out of your property investment? If your answer is yes, then here is a guide to help you out. Getting a tenant, regular rentals and ensuring lower vacancies are only part of your […]
- February 26, 2020
- admin@ohi
A Comprehensive Review of Yardi Genesis 2
Yardi Genesis 2 is a web-based property accounting software that has been designed for small and medium-sized properties. Yardi Genesis 2 is designed for all real estate management including residential, commercial, condos, homeowner associations, self-storage, offices, retail and other type […]
- April 17, 2018
- admin@ohi
Popular Real Estate Software
With increasing globalization, the real estate industry is rapidly crossing borders and has thus become a global industry. The real estate agents and property managers of today handle much larger portfolios than they used to. This has created a demand […]
- July 29, 2019
- admin@ohi
![Job Duties and Educational Requirements of a Property Accountant [Infographic]](https://www.outsourcinghubindia.com/wp-content/uploads/2018/05/Property-Accountant-Job-Duties-Skills-Educational-Requirements.jpg)
Job Duties and Educational Requirements of a Property Accountant [Infographic]
People find accounting to be a really stressful job. Guess what? It really is! Accounting has to be done carefully – be it property accounting or accounting for a business firm, even if it seems like a mundane task. A […]
- May 15, 2018
- admin@ohi
HUD Multifamily Housing Programs
With real estate prices escalating day by day, affordable housing and quality housing is hard to come by. The U.S. Department of Housing and Urban Development or HUD launched the multifamily subsidized housing to ensure that the low to middle […]
- October 14, 2019
- admin@ohi
6 Financial Reports (Real Estate Reports) Your Property Manager Should Provide
Financial Reports /Real Estate Reports are also known as Financial Statements and can be defined as the formal record of the financial activities of a business entity or a firm. Financial statements are also the records of an individual involved […]
- February 13, 2018
- admin@ohi
