Real estate accounting for multiple properties and multiple entities
Know what every building actually earns, keep each entity clean, and hand your lender and your CPA numbers they don’t have to question.
One set of books can’t run a portfolio
Most real estate books break in the same place. A property gets added, an LLC gets formed, a refinance happens — and the recordkeeping never catches up. Rent, mortgage payments, capital improvements and personal transfers end up in the same undifferentiated pile, and by the time you need a number, nobody can produce it.
We separate what should be separate. Each entity gets its own clean set of books, each property gets its own tracking, and you get a P&L per property alongside a portfolio roll-up. That’s the difference between guessing which building is carrying the others and knowing it.
Draws, distributions and the accounts nobody maintains
Owner draws, partner contributions, distributions and intercompany transfers are where real estate books get quietly wrong. Money moves between entities constantly, and if the equity side isn’t maintained all year, your CPA is reconstructing it in April — expensively, and with less accuracy than if it had been done in real time.
Security deposits and escrow get the same discipline. A deposit is a liability you’re holding, not revenue you earned; escrow reserves aren’t an expense until they’re spent. Recorded properly the first time, they stay right.
A bookkeeper on the books, a controller over them
Every bookkeeper at Duban Accounting passes the Duban Skills Test before touching a client file — and only 15% of candidates pass, even though each one already holds a QuickBooks ProAdvisor certification and an accounting degree. Then a controller reviews every close, so intercompany entries and equity accounts get a second set of expert eyes before anything reaches you.
From there, the rest follows naturally: tax planning that accounts for depreciation and how your entities are structured, and fractional CFO support when you’re modeling the next acquisition, refinance or sale.
Cash or accrual — decided on purpose
Plenty of owners run cash-basis books because that’s how they started, then discover their lender wants something else. We’ll walk you through which basis fits your portfolio, your loan covenants and your tax picture, and set the books up so you can report either way without a rebuild.
The parts of real estate accounting that get skipped.
A clean file for every LLC and clean tracking for every building — no commingling, no untangling later.
Income and expenses coded to the property they belong to, so you can see which assets earn and which drag.
Contributions, draws, distributions and intercompany transfers recorded as they happen — not rebuilt at tax time.
Deposits carried as liabilities and escrow reserves tracked separately, so your balance sheet tells the truth.
Vendors and contractors tracked through the year with W-9s on file, so January filing is routine instead of a scramble.
Statements packaged the way banks, partners and your CPA expect them — on time, and reviewed before they go out.
From scattered files to a portfolio you can read.
Talk with us
A consultation about your properties, your entities and what your books can’t currently tell you.
Meet your team
You’re matched with a skills-tested bookkeeper who has worked real estate books, plus the controller reviewing them.
We get you current
Entities separated, prior periods cleaned up, deposits and equity accounts corrected and brought fully up to date.
Close, every month
Accounts reconciled, property-level reporting delivered, and a controller’s review behind every number.
Real estate accounting, answered.
Can you keep separate books for each of my LLCs?
Yes — and we’d insist on it. Each entity gets its own set of books, with intercompany transfers recorded on both sides so the balances actually agree. You still get a combined view of the portfolio when you want one.
Can I see profit and loss by property, not just by entity?
Yes. We build the chart of accounts and tracking so every dollar lands on a specific property. You get a P&L per building and a roll-up across the portfolio from the same set of books.
Should my rentals be on cash or accrual basis?
It depends on your loan covenants, your entity structure and how you file. We’ll talk it through with you and coordinate with your tax preparer — or handle the tax side ourselves — then set the books up so reporting either way is straightforward.
How do you handle security deposits and escrow?
Deposits are recorded as liabilities, not income, and held separately from operating revenue. Escrow and reserve balances are tracked on their own so you always know what’s truly yours and what you’re just holding.
Do you prepare 1099s for my contractors?
Yes. We track contractor and vendor payments through the year and keep W-9s collected as you go, so filing in January is a routine step rather than a month of chasing paperwork.
Ready to see what each property really earns?
Book a free consultation and we’ll determine the best way to help your business reach its full potential. If we’re not the right fit, we’ll point you to a resource that is.