All Forum Posts by: Mayya Soibnazarova

I'd start with a simple QuickBooks Online Plus setup, using class tracking to separate financials by property. As your portfolio grows and needs become more complex, you can migrate to specialized property management software.

We are an accounting firm specializing in property accounting. Based on our experience and analysis, the most cost-effective and straightforward approach is to start with a basic QuickBooks Online (QBO). As the portfolio grows, we typically recommend migrating to AppFolio - our preferred platform for residential third-party property managers. For owner operators of commercial properties, my personal favorite is Yardi Breeze.

Unfortunately, we see this scenario more often than you'd think. Misuse of escrowed guest deposits is one of the first red flags we raise to ownership during our reviews. It’s a clear indicator of deeper cash flow and trust accounting issues that can quickly spiral.

What would you consider a fair monthly fee (per unit) for full-cycle property accounting, assuming you don’t have to touch the books at all?