Bookkeeping for Real Estate Investors, Agents & Property Managers

If all properties are held in one entity, we use QuickBooks Online classes so each property gets its own P&L while the balance sheet stays consolidated. If each property is in its own LLC, each needs its own set of books, because mixing them undermines the liability protection the LLC was created for. Many investors land in between: one QuickBooks file per entity, with classes for the properties inside it. We'll map your structure during onboarding.

A repair keeps the property in its current condition and is deducted in the year paid: fixing a leak, replacing a broken window, repainting. A capital improvement adds value, extends useful life, or adapts the property to a new use, and is depreciated over years: a new roof, HVAC replacement, an addition, a full kitchen remodel. The IRS safe harbors and de minimis rules make the line more nuanced, and your tax preparer makes the final call, but we classify each transaction with notes so they have what they need.

Yes. Airbnb and VRBO payouts are recorded gross, with host fees, cleaning fees, and platform-collected taxes broken out. Florida sales tax and Duval or St. Johns County tourist development tax are tracked as liabilities, and we reconcile what the platforms remit on your behalf to what you owe directly. Each unit is a class, so you see which rentals perform.