Property Management Companies
You manage properties for owners who expect accurate statements. We reconcile trust accounts, track expenses by property, and ensure your owner reports match reality.
The Trust
Property management accounting is fundamentally different from regular small business bookkeeping. You are handling money that belongs to property owners. Every dollar of rent collected, every maintenance expense paid, and every security deposit held must be tracked separately and accounted for precisely.
The complexity multiplies fast. Each owner has their own properties. Each property has rent coming in and repairs going out. Security deposits sit in trust waiting to be returned or applied. Your management fee is the only piece that actually belongs to your company.
Who This Covers
Who This Covers
Third-party property managers handling residential or commercial portfolios for investors and landlords throughout Santa Fe and Northern New Mexico. Whether you manage five doors or fifty, the accounting requirements are the same.
The Friction
The Friction
A single vendor might fix a leak at three different properties owned by three different people. That one invoice needs to be split correctly and charged to the right owner accounts. Miss this allocation and the error cascades into owner statements.
What We Handle
We reconcile your trust accounts to the penny. Owner funds and operating funds stay clearly separated in your books. Every rent payment, maintenance expense, and management fee is tracked by property and by owner so nothing gets mixed up.
Owner statements are only as good as the data behind them. We verify that the numbers match the bank activity before you send that monthly report. This catches allocation errors before they become disputes with your clients.
Owner Statement Support
Owner Statement Support
We organize your books so generating accurate owner statements is straightforward. The income and expenses for each property match what the owner sees in their report. No more scrambling to explain discrepancies.
Security Deposit Tracking
Security Deposit Tracking
Deposits are liabilities, not income. We maintain proper tracking so you know exactly what is held for each tenant, when it was collected, and what was deducted when they moved out.
Common Problems
The biggest risk in property management is commingling. Operating expenses paid from the trust account. Owner distributions taken before rent actually cleared. Management fees withdrawn without proper documentation. It happens easily when things get busy, and it can cost you your license.
Another issue is the allocation mistake. A repair gets charged to the wrong property. An owner ends up paying for work that was done on a different unit. These errors erode trust with clients and take hours to untangle after the fact.
GRT Confusion
GRT Confusion
New Mexico’s Gross Receipts Tax applies to your management fees. Rent you pass through to owners is handled differently. Getting this wrong means over-reporting or under-reporting, and the state will eventually notice.
Contractor Compliance
Contractor Compliance
Property managers use a lot of vendors. Handymen, plumbers, landscapers, cleaning crews. Without W-9s on file and proper payment tracking, January turns into a scramble trying to figure out who needs a 1099.
What Changes
You run your business with confidence because the trust account is clean. When a property owner asks a question about their statement, you have the documentation to answer it immediately. Disputes become rare because the numbers are verified before they go out.
Growth becomes possible. Taking on another owner’s portfolio is not overwhelming when your systems can handle the additional properties. The bookkeeping scales with the business instead of becoming a bottleneck that limits how many doors you can manage.
Audit Readiness
Audit Readiness
If the state ever audits your trust accounts, you have organized records ready. The separation between owner funds and operating funds is documented and clear. Compliance becomes routine instead of a constant worry.
Portfolio Expansion
Portfolio Expansion
You can confidently pitch larger investors because you have the infrastructure to manage their properties professionally. Clean books and accurate reporting demonstrate operational competence that owners notice.
Santa Fe's Small Business Bookkeeper
The Next Step:
A Quick Conversation
Tell us about your business and what you're dealing with. We'll listen, ask a few questions, and give you a straightforward quote.
