Case study ยท Property management company
From launch to 45 properties under management in year one
A new property management company launched managing short-term, mid-term and long-term rentals. We set up their accounting from scratch, trained the team on their property management software, and handle their back end, while they grew to 45 properties in their first year.
Year one
45
properties under management
Rental types
3
short-term, mid-term and long-term, on one set of books
Software
4
property management platforms set up and taught
The challenge
A brand-new company, three kinds of rentals, and no accounting system that could handle them.
What we did
Built the accounting from scratch, trained the team on their software, and took over the back end.
The result
45 properties under management in year one, with books that scaled as they grew.
The challenge
Launching a property management company means a lot happening at once, and the back office is easy to put off. This company manages short-term, mid-term and long-term rentals, three businesses with very different rhythms: nightly bookings, cleanings and platform payouts; furnished stays of a month or more; and monthly rents, leases and security deposits.
They needed accounting that could handle all three, software their team actually knew how to use, and someone to guide them as the portfolio grew.
What we did
- Set up the company's accounting from scratch, built to handle short-term, mid-term and long-term rentals
- Taught the team the property management software for each side of the business: Guesty and Lodgify for short-term rentals, and Buildium and AppFolio for long-term rentals
- Took over the back-end accounting so the owners could focus on landing and serving properties
- Provided ongoing guidance as they added properties and services
The result
In their first year, the company grew to 45 properties under management across short-term, mid-term and long-term rentals. Because the accounting and software were set up correctly from the start, the back office scaled with them instead of holding them back.
Why it matters for property managers
We work with property management companies of all sizes, not just owners. Whether you run vacation, mid-term or long-term rentals, or all three, we know the software and the accounting behind it, and we can get your back office ready to grow.
Running or starting a property management company?
See our real estate & property management accounting and controller & CFO services. Your first consultation is free.
