Accounting and Bookkeeping Services for Rental Businesses
Recurring rent income and expenses needs recurring updates with accuracy and that’s what we do.
A rental business involves leasing property or assets to customers in exchange for rental income.
Real Estate Rentals: Leasing residential or commercial properties.
Equipment Rentals: Renting out machinery, tools, and other equipment.
Party and Event Rentals: Providing tents, tables, chairs, and other event supplies.
Personal Item Rentals: Renting items like clothing, electronics, or appliances.
Vacation Rentals: Offering short-term lodging options, such as houses or apartments, to travelers.
Storage Rentals: Leasing storage units or spaces for personal or business use.
Boat and Recreational Vehicle Rentals: Renting boats, RVs, and other recreational vehicles.
Tool Rentals: Providing tools for DIY projects or professional use.
Choosing the type of rental business to operate depends on your interests, expertise, and available resources. Regardless of the type you choose, it’s crucial to understand market demand, customer needs, and the legal and financial aspects of the business before starting.
Calculating profit margins in a rental business can be challenging,but KeyCMS Accounting offers specialized services tailored to the needs of rental business owners, ensuring your financial records are accurate, up-to-date, and compliant with all regulations.
Why Choose KeyCMS Accounting for Your Rental Business?
Expertise in Rental Business Accounting
Our team of experienced accountants understands the nuances of the rental industry. We are well-versed in tracking rental income, managing expenses, handling tenant deposits, and preparing financial statements specific to rental properties. Our expertise ensures that your financial records reflect the true performance of your rental business.
Comprehensive Bookkeeping Services
From recording daily transactions to reconciling bank statements, KeyCMS Accounting provides end-to-end bookkeeping services. We use advanced accounting software to maintain accurate records, giving you a clear and detailed picture of your financial health. Our services include:
Recording rental income and expenses
Managing accounts payable and receivable
Preparing and maintaining ledgers
Monthly, quarterly, and annual financial reporting
Tax Preparation and Compliance
Rental businesses must navigate complex tax regulations, including property tax, income tax, and potential deductions. Our team ensures that your business is compliant with all tax laws, helps you maximize deductions, and prepares your tax returns accurately and on time.
Financial Planning and Analysis
KeyCMS Accounting goes beyond basic bookkeeping. We provide financial analysis and planning services to help you make informed decisions about your rental properties. Our insights can help you identify profitable opportunities, manage cash flow, and plan for future growth.
Our customised services
Services for your Rental Service business
Offshore Staffing
we offer a strategic advantage by providing skilled professionals at a lower cost
We handle accounting and bookkeeping for all types of rental properties, including residential rentals, commercial properties, vacation rentals, and multi-family units. Our services are customized to meet the specific needs of your rental business.
We use advanced accounting software and follow rigorous procedures to ensure the accuracy of your financial records. Our team performs regular reconciliations, thorough reviews, and employs best practices in bookkeeping to maintain precise and reliable financial data.
Yes, we manage tenant deposits by recording and tracking all transactions related to security deposits. We ensure that deposits are handled according to legal requirements and are accurately reflected in your financial statements.
Outsourcing to KeyCMS Accounting allows you to focus on managing and growing your rental business while we handle your financial management. Our expertise, comprehensive services, and dedicated support provide peace of mind, ensuring your finances are in order, compliant, and optimized for success.
Contact us
Our specialized accounting and bookkeeping services are designed to meet the unique needs of rental property owners, providing accurate financial management and strategic insights to drive your success. Contact us today to learn more about how we can support your rental business.
