Multifamily Apartment Communities

AppFolio tracks your operations. We build the accounting that sits behind it.

Beyond the Rent Roll

You know your occupancy. You know your rent roll. Your property management software tracks leases, work orders, and tenant balances. That’s operations. It’s not accounting.

Property management software tells you what’s happening at the property. It doesn’t produce the financial statements your lender wants to see. It doesn’t track debt service coverage or tell you the true profit after you account for reserves and capital expenditures. Most multifamily owners have solid operational data and weak financials. The gap widens as the portfolio grows.

We build the accounting layer that sits alongside your operations. Property-level profit and loss statements, proper depreciation schedules, reserve tracking, and financials that hold up when your lender or investors ask questions.

Every Property, Another LLC

Most multifamily portfolios end up structured the same way. Each property or deal gets its own LLC. Each LLC has its own bank accounts, its own loan, often its own investors. What started as clean asset protection becomes an accounting maze as you add communities.

One garden-style property might have an operating account, a reserve account, a security deposit account, and a loan payment account. Multiply that across five or ten properties and you’re looking at dozens of accounts to reconcile every month. Before you even get to producing statements anyone can use, you’re drowning in reconciliation.

Entity-Level Books

Each LLC gets its own set of books, set up correctly from the start. We track income, expenses, and distributions at the entity level so each property stands on its own while still rolling up to a portfolio view.

Account Reconciliation

Operating accounts, reserve accounts, security deposit accounts, and loan accounts. Every account reconciled every month. Nothing falls through the cracks and no surprises when you go to pull a report.

What Multifamily Accounting Actually Requires

Multifamily has its own accounting requirements that general bookkeepers often miss. Lenders want to see debt service coverage and trailing financials in a specific format. Investors want property-level returns, not just a portfolio total. Your CPA needs clean depreciation schedules and properly categorized expenses. Miss any of these and you’re doing extra work at the worst possible time.

Property-Level Statements

Profit and loss statements for each community, not one consolidated report that hides how individual assets are performing. You can see exactly which properties are carrying the portfolio and which need attention.

Reserve Tracking

Replacement reserves, operating reserves, escrow accounts. Tracked separately so you know what cash is committed and what’s actually available. Critical for planning capital improvements and satisfying lender requirements.

Debt and Lender Reporting

Loan balances, amortization schedules, interest allocations, and covenant tracking. When your lender asks for a reporting package, it’s ready without a scramble.

CapEx and Depreciation

Capital expenditures tracked and capitalized correctly. Depreciation schedules maintained for each asset. Ready for cost segregation studies when the tax savings justify it.

Built to Scale With You

The goal is simple. When you acquire the next community, the accounting infrastructure is already in place. The new property gets added to the system, new accounts get set up and reconciled, and the portfolio-level view stays intact. Growth doesn’t mean starting over every time.

When your lender asks for trailing twelve months, it’s ready. When investors want an update on a specific property, you have current numbers. When tax time comes, your CPA has clean books, proper depreciation schedules, and organized support. You focus on finding the next deal while we keep the financial foundation solid.

Monthly Close

Books closed every month on a consistent schedule. No more scrambling at quarter-end or waiting until tax season to figure out what happened six months ago.

Tax-Ready All Year

Depreciation tracked, expenses categorized correctly, and everything coordinated with our in-house CPA. Tax season becomes a process instead of a crisis.

Boutique Real Estate Accounting Firm