Real Estate Accounting in Little Rock
Arkansas is unusual in exempting a class of landlord from its deposit rules entirely, and the exemption turns on facts about the owner rather than about the property. Whether the rules apply is therefore a question a manager has to answer before anything else.
Proud AppFolio Stack™ Partners, working directly inside your AppFolio instance.
Arkansas rules that apply here
- Deposit return deadline
- 60 calendar days
- Statute
- Ark. Code 18-16-305
Why Arkansas Real Estate Professionals Choose REA
AppFolio Expertise, Applied to Little Rock
Experts in AppFolio Bookkeeping
The exemption covers an individual landlord who, with spouse and minor children, owns a small number of dwelling units and does not use paid third-party management. Two things follow. First, an owner inside the exemption who then hires a manager may move outside it, so the act of engaging professional management can itself change which rules apply. Second, unit count is measured across the family rather than per entity, so a structure that looks small on paper may not qualify.
Assigned, Responsive Team
For a management company that makes the exemption largely academic in practice: once paid third-party management is involved, the safe assumption is that the rules apply. We operate to the statutory standard regardless, because the alternative is deciding the exemption question correctly on every owner and revisiting it whenever their holdings change.
Accurate Monthly Bookkeeping
Where the rules apply, deposits are returned within 60 days of termination of the tenancy and delivery of possession, with any application to unpaid rent and damages itemised in a written notice delivered with the remainder due. The cap for leases entered or renewed after November 2021 is two months' periodic rent.
Deposit Compliance for Little Rock Portfolios
Ark. Code 18-16-305
Arkansas 18-16-305 requires the deposit returned within 60 days of termination of the tenancy and delivery of possession, with any application to unpaid rent and damages itemised in a written notice delivered with the remainder due. For leases entered or renewed after November 2021 the cap is two months' periodic rent.
Arkansas is unusual in EXEMPTING a class of landlord entirely: an individual who, with spouse and minor children, owns a small number of dwelling units and does not use paid third-party management. Two consequences follow. Engaging a manager can itself move an owner outside the exemption, and unit count is measured across the family holding rather than per entity, so a multi-LLC structure can still fall outside it. For a management company the exemption is largely academic: once paid management is involved, operate to the statutory standard.
All Arkansas requirementsHow we keep you inside it
- Deposit liabilities tracked per tenant in AppFolio, so a 60 calendar days deadline is answerable from the ledger
- Trust accounts reconciled three ways every month
- Deduction documentation recorded against the correct ledger
- Aging deposits flagged before the statutory window closes
Appfolio Bookkeeping Services from REA
Available to Little Rock Operators
Trust Bookkeeping
Leverage Appfolio's powerful bookkeeping capabilities with REA's tailored service.
See how it worksCorporate Bookkeeping
REA's skilled team, in combination with Appfolio's comprehensive toolset, addresses the complexity of your corporate financial activities.
See how it worksBank Reconciliations
Employing Appfolio's state-of-the-art system, REA offers bank reconciliation services that brings meticulous accuracy to your finances.
See how it worksFinancial Diagnostic Cleanup
REA utilizes Appfolio's advanced diagnostic tools to swiftly and effectively troubleshoot financial anomalies.
See how it worksTrust Compliance
REA pairs its accounting prowess with Appfolio's detailed reporting to deliver comprehensive Trust Compliance Verification services.
See how it worksAppFolio Accounting & Bookkeeping Services
For Little Rock Portfolios
- Process Review & Set Up
- Bank Reconciliations
- AP / AR
- Accurate NOI, Balance Sheets
- Recording HUD's & Accruals
- Owner Distributions
- Monthly Statements & Reports
- Management Fees
- Corporate Bookkeeping
- Tenant Chargebacks
Take the Whole Close, or One Function
Little Rock operators use REA for the full monthly close or for the single function that has become a bottleneck. Each one is performed inside your AppFolio instance.
Trust Accounting
Compliant, audit-ready trust funds
Learn moreBank Reconciliation Services
Three-way reconciliation, every account
Learn moreAccounts Payable & Receivable
Bills paid, rent collected, owners paid
Learn moreBookkeeping Cleanup & Catch-Up
Back books fixed and current
Learn moreCAM Reconciliation
Annual commercial true-ups
Learn moreExperts In All Property Types
- Single-Family
- Multifamily
- Student Housing
- Affordable Housing
- Community Associations
- Commercial
Experts In All Property Types
Residential, commercial and everything in between. The asset class changes what the books have to prove, and our teams are staffed accordingly.
- Single-Family
- Multifamily
- Student Housing
- Affordable Housing
- Community AssociationsSee the page
- CommercialSee the page
Check Out What Our Clients Have To Say About Us
Property Managers, Investors & Owner Operators
Real Estate Accounting truly is a special company. They helped as if they were a part of our company, with the concern and caution as an employee would have, but even more. They quickly ascertained our needs and developed an effective team to help with our accounting needs. They were extremely responsive and always accurate. I would recommend their services to anyone who needs help with their property management accounting.
Adam the owner took a personal interest in my situation and was willing to work with me to see if his company was a good fit. I may be too small for them but I would highly recommend them to anyone considering a bookkeeper for their property management business.
Following a series of erroneous financials from my previous bookkeeper, who lacked expertise in real estate, it's been truly remarkable to receive not only accurate financials on a consistent basis but also proactive advice without prompting. The REA team is a game-changer in real estate accounting!
Frequently Asked Questions
Is our owner exempt from Arkansas deposit rules?
Possibly not once they engage paid third-party management. The exemption covers individual landlords with a small number of units who do NOT use paid management, so hiring a manager can move an owner outside it.
Should we rely on the exemption?
We do not. Once professional management is involved the safe assumption is that the rules apply, because otherwise the exemption question has to be answered correctly for every owner and revisited whenever their holdings change.
What is the deadline and cap where the rules apply?
Sixty days from termination and delivery of possession for the return and itemised written notice, with a cap of two months' periodic rent for leases entered or renewed after November 2021.
More in Arkansas
Other Arkansas markets, the platforms we work in, and the functions available on their own.
AppFolio Bookkeeping for Little Rock
Schedule a call and we will review your AppFolio setup, your Arkansas deposit handling, and what it takes to close clean every month.