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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.
Let the processing begin!
We'll collaborate to ensure a smooth transition for your Proper team, seamlessly integrating into your business.
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 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. That said: We’ve seen the number of questions from owners reduce significantly within 60 days of getting started with Proper :)
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 speak to my tenants or vendors?
We communicate with your vendors only when it’s absolutely necessary, and when it comes to your tenants, our involvement will stay behind the scenes. The benefits of a more streamlined accounting system will be passed onto your tenants and contractors, but you will remain responsible for maintaining those relationships.
How involved are you in the move-in/move-out process?
We handle auditing for move-ins including review of new tenant page information (we do not populate). For move-outs, we process security deposit charges and refunds for tenants. If we detect any issues, we will let you know what needs to be corrected and communicated.
How do you handle non-digital transactions on our behalf (mailed invoices, checks, etc.)?
We’ll work with a point person on your team who will scan any paper items and send them our way for processing.
We’ll also set up shared email inboxes (e.g., ap@yourcompany.com) for vendors to follow your new, more streamlined processes.
Beyond that, we’ll improve your processes and help you transition to full digital optimization.
How do you handle security and private data?
We implement multiple layers of review, strict internal controls, and careful data handling procedures. We have read-only access to bank accounts, and an approval system for payments so you maintain full control.
When it comes to our staff, we perform pre-employment background checks and employ candidates with Fortune 500 or Big 4 experience. We also establish strong internal controls over what our team can and cannot do, complete with daily multi-level management oversight, as is standard for most large public accounting organizations.
Do you do our taxes?
We'll perform accounting services like 1099 preparation, or compile the financial data to send to your tax preparer.
How long have you been in business?
We got started in the property management space in 2017. Informed by thorough user research, relationships with property managers and our extensive accounting experience, Proper evolved into what it is today!
Accounting 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.
Can Proper provide accounting service for my corporate books as well?
Yes! We can classify your corporate expenses, handle your receivables, mark up third-party invoices, reconciliations, financial statements, and other obligations like intercompany. This is an add-on service to our property-level services.
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!
Complete Fee Management
We adopt your fee collection schedule and ensure that your late fees, management fees, lease fees, renewal fees, and all other ancillary fees are calculated correctly and flow through a quality check process to ensure accuracy on a weekly and monthly basis.
Owner Payments & Statements
We know the importance of owner relationships and reporting and driving a tight close process. We’ll help you deliver easy-to-review reports and documents that have been thoroughly reviewed for consistency, standardization, and accuracy. Our complete close checklists includes analytical review (like trailing 12 month reviews), sub-ledger tie outs, reporting package preparation and review, and preparing distributions. For commercial clients, we support your CAM reconciliation process.
Best Practices
From setting up your accounting flows to optimizing your software, we’ll create a strong control environment to help ensure quality and efficiency at all times, as well as establish an approval process to maintain strong segregation of duties and ensure you still maintain financial control.
*Corporate Bookkeeping
Need support with corporate bookkeeping for your company, like maintenance or construction entities? We can classify your corporate expenses, handle your receivables, mark up third party invoices, reconciliations, financial statements, and other obligations like intercompany.
*Add-On Service
*Prior Period Clean-Up
Do you have overdue tasks that haven’t been handled from past periods? (We’re looking at you, overdue bank reconciliations!) Talk to us about handling any prior period clean up tasks so you can stay focused on your business.
*Add-On Service
