Rental property bookkeeping for long-term landlords
Rent, repairs, mortgage interest and property taxes tracked for each property, reconciled every month in QuickBooks Online. At year end you get a clean package for your Schedule E, instead of a weekend with a shoebox.
Starting at $89 a month, based on the number of properties.
The landlord mistakes that show up at tax time
- A refundable security deposit booked as rent
- A new roof expensed like a repair, instead of depreciated as an improvement
- The full mortgage payment recorded as an expense, when only the interest is
- Two properties mixed in one account with no way to tell them apart
What's included
- Income and expenses tracked by property
- Security deposits held as liabilities, not income
- Mortgage payments split into interest and principal
- Repairs and improvements recorded separately, with a fixed asset list
- Monthly bank and card reconciliation
- A year-end package for your Schedule E, or I prepare the return with you
Who it's for
Landlords with one or more long-term rentals, held personally or in an LLC, who want monthly books instead of a year-end scramble.
Hosting short stays too?
Short-term rentals have different rules and different books. See short-term rental bookkeeping for S-corp hosts.
How it works
- 1
Free call and flat quote
Based on properties, accounts and loans.
- 2
Setup
A QuickBooks Online file with each property set up, opening balances and a fixed asset list.
- 3
Monthly books
Reconciled and reported each month, with one short list of questions.
What I need from you
- Leases and rent rolls
- Bank, card and loan statements
- Closing statements for each property
- Last year's tax return and depreciation schedule
Everything goes through my secure client portal.
Landlord questions
Do you prepare my tax return too?
Yes, I can prepare your Form 1040 with your rental schedules, from the same books.
I have one rental. Is this worth it?
Often a one-property landlord only needs a year-end cleanup. We decide on the free call, and I will say so if monthly books are more than you need.
Do you work with property managers' statements?
Yes. I record from the manager's monthly statement and reconcile it to what reached your bank.
Get your rental books in order
Book a free call, or send a message with how many properties you have.