Expert Bookkeeping and Accounting Services for Assisted Living Facilities
Simplify your financial management with REA's specialized assisted living accounting services. We help facilities streamline operations, ensure compliance, and gain clear financial insights, so you can focus on delivering exceptional care.
From integrated bookkeeping to financial reporting and operational support, we tailor our services to meet the unique needs of assisted living communities.
Our proven monthly property management bookkeeping services are 30-50% less than hiring in-house accounting team. Saving money while reducing operational stress, what's better than that?
30-50%Less Than In-House
230+Property Accountants
Sage, AlineAppFolio, Yardi & More
Why Assisted Living Companies Choose REA
Care Operations and Real Estate, Accounted for Separately
They're growing too fast for their accountants to handle.
When your business is scaling, the last thing you want to focus on is growing your bookkeeping team. Let our team of experienced accountants scale right along side you without the hiring, firing, and managing of new employees.
They want to spend less on accounting fees.
Our proven monthly property management bookkeeping services are 30-50% less than hiring in-house accounting team. Saving money while reducing operational stress, what's better than that?
They need an expert in their accounting software.
You're in business because you're an expert at property management, not accounting tech. That's where we come in. From Sage to AppFolio, Aline, RealPage, and Yardi, we work with nearly all the accounting software providers for Assisted Living.
Assisted Living Bookkeeping Services from REA
The Building and the Operation, Both Handled
Property Accounting
As experts in all things real estate, we'll make sure the real estate assets are property accounted for including full balance sheet and accrual accounting.
Assisted Living Accounting
REA's skilled team, in combination with your software's comprehensive toolset, addresses the complexity of your assisted living corporate financial activities.
Bank Reconciliations
Employing your software's state-of-the-art system, REA offers bank reconciliation services that brings meticulous accuracy to your finances.
See how it worksFinancial Cleanup
If there is any clean-up or back books work needed, we'll make sure this gets done and your financials are 100% accurate.
See how it worksStreamline Operations
We streamline assisted living operations by integrating your software systems and optimizing workflows, saving you time, money, and stress.
The Full Scope
- AppFolio, Yardi, Sage, Aline, and more
- Accounts Payable & Receivable
- Monthly Tenant Statements
- Catch-up Bookkeeping
- Accurate NOI, Balance Sheets
- + 4 more below
Assisted Living Accounting and Bookkeeping Services
- AppFolio, Yardi, Sage, Aline, and more
- Accounts Payable & Receivable
- Monthly Tenant Statements
- Catch-up Bookkeeping
- Accurate NOI, Balance Sheets
- Recording HUD's & Accruals
- Bank Reconciliations
- Owner Draws & Management Fees
- Corporate Operations Accounting
Also available on its own
- Trust AccountingTenant, owner, and security deposit money kept separate, tied out, and ready for a state audit at any time.
- Accounts Payable & ReceivableVendor invoices coded and paid, tenant receipts applied, management fees taken, and owner distributions cut on time.
- CAM ReconciliationCommon area maintenance pools built from the lease terms, reconciled against actuals, and billed or credited with a defensible tenant statement.
It Is Two Businesses Wearing One Set of Books
Real Estate Underneath, a Care Operation on Top
An assisted living community is a building with a hospitality and care business running inside it. The real estate has a balance sheet, debt, and depreciation. The operation has census-driven revenue, tiered care charges, payroll that dwarfs every other line, and residents who move in mid-month. Accounting for one as though it were the other is the recurring failure here.
What makes it different
Revenue you can forecast off census
Occupancy and care level between them predict most of the revenue, which makes budgeting genuinely tractable once the level-of-care charges are being captured properly. And because the asset and the operation are separable, a clean set of books shows you exactly which one is producing the return.
Where it goes wrong
Care revenue and property revenue collapse into one number
Base rent, level-of-care fees, community fees, and ancillary charges get posted to a single revenue account, so nobody can see whether the margin is coming from the real estate or the care. Add mid-month move-ins prorated by hand, deposits treated as income, and payroll allocated across communities by guesswork, and the P&L stops being decision-grade.
How we work it
We split the asset from the operation, deliberately
We set up the chart of accounts so property-level results and operating results can each be read on their own, with care revenue broken out by type and payroll allocated on a defensible basis. That is what lets you compare communities honestly and what a buyer or lender will want to see.
Assisted Living Accounting, Platform by Platform
Pick the Software You Actually Run
The accounting problem changes with the platform underneath it. Each page below is the specific version of assisted living bookkeeping for that system.
- AppFolioLevel-of-care revenue has no native home
- BuildiumOne revenue account hides where margin comes from
- EntrataLevel-of-care revenue collapsing into base rent
- QuickBooksCare revenue and real estate rent share one account
- Rent ManagerCare revenue disappears into custom rent charge codes
- YardiLevel-of-care revenue collapses into one journal entry
- MRIOne MRI revenue account hides where margin comes from
- RealPageStale resident assessments quietly understate care revenue
How Our Assisted Living Bookkeeping and Accounting Services Work
Onboard, Close, Report
- 1
We onboard your account.
We won't waste your time. As soon as we get access to your account, we'll begin analyzing your financials & diagnostic reports. Every property. Every bank account. Every report. If we find any inconsistencies or problems, we fix them, ensuring financial accuracy across the board.
- 2
Monthly bookkeeping begins.
Once your financials are in order, we start our monthly bookkeeping for your assisted living business. We reconcile your accounts, label incoming transactions, streamline your accounts payable process, and more. From the operations to the assets, we'll help with it all.
- 3
Receive monthly reports.
Each month, you'll get audit-ready financial statements and reports. Instead of confusing you with unnecessary charts and jargon, our reports make it easy for you to understand your business' financial situation.
You Get a Team With Names, Not a Ticket Queue
Who Actually Works On Your Assisted Living Books
Outsourced accounting fails when nobody owns the account. At REA you are assigned a property accounting team and a client success lead who knows your portfolio, your owners, and your quirks. They stay on your account, so you are never re-explaining your chart of accounts to someone new.
Sharifa Giraldo, CPA
VP, Client Success
Residential Property Management
20+ years of property accounting, a CPA since 2015, and a specialist in third-party management and platform migrations.
Will Daege
VP, Client Success
Commercial Property Management
25+ years across retail, office, industrial, and multifamily, including Portfolio Controller for The Related Companies' New York development portfolio.
How we work together
- A named team, not a poolThe same property accountants close your books every month.
- Reachable the way you already workEmail, phone, video, or Slack. Urgent items get answered the same day.
- Inside your Assisted LivingWe take accountant access to your instance, exactly as you would grant an internal hire.
- 230+ property accountants behind themCoverage when someone is out, and a specialist to escalate to when a lease or a trust question gets strange.
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
Came from a bookkeeper who did not know real estate
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!
Real-estate-only specialists
As REA exclusively specializes in Real Estate, I rest easy knowing my financials are precise every month while saving money at the same time, an invaluable benefit.
Handed over the whole accounting function
I highly recommend Real Estate Accounting (REA) services from this group. They truly are great and have helped us tremendously at a time we needed it the most. I felt very comfortable giving up all my accounting responsibilities to this team and I'm still glad I made the decision to work with this group. Nothing less than an amazing experience!
Day-to-day financial operations
REA and team have been nothing but excellent helping our firm with its day to day financial needs. Their expertise, professionalism, and timeliness have made our lives so much easier. We foresee a long relationship with REA and team.
Onboarding and responsiveness
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.
Smaller portfolio, still looked after
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.
230+
Property Accountants
30M+
Commercial Sq. Ft.
Up to 50%
Saved vs In-House
Every month
On-Time Close
We Also Work With
Every Vertical Has Its Own Way of Breaking
- Property ManagementThird-party managers scaling past their bookkeeping
- Commercial Real EstateLease administration and CAM reconciliation
- Owner OperatorsBuying units without adding accounting headcount
- DevelopersDraws, capitalisation and job-level cost
- HOAsAssessments, reserves and board-ready reporting
- SyndicatorsWaterfalls, GP/LP splits and investor reporting
- ConstructionJob costing, WIP and retainage
Frequently Asked Questions
What are the costs associated with your accounting for assisted living facilities?
Our pricing is competitive and tailored to the specific needs of your assisted living business. We offer transparent pricing structures and can provide a detailed quote based on the services you require.
What qualifications do your assisted living bookkeepers have?
They are highly qualified professionals with extensive experience in the real estate and senior housing sectors. They hold relevant certifications, are proficient in industry-standard accounting software, and stay updated with the latest financial regulations and best practices to provide top-notch bookkeeping services.
What is the turnaround time for setting up bookkeeping services?
The turnaround time varies depending on the complexity of your assisted living business. Generally, it takes about 1-2 weeks to fully integrate our services and start managing your finances efficiently.
How do you handle the transition from our current accounting system to your services?
We have a streamlined transition process that includes data migration, system integration, and staff training to ensure a smooth switch from your current accounting system to our services without any disruption to your operations.
How can accounting software benefit my assisted living facility?
It streamlines your accounting by automating tasks such as billing, expense tracking, and financial reporting. With real-time data access, customizable financial reports, and seamless integration with other operational tools, the right platform ensures accurate and efficient bookkeeping, helping you save time and reduce errors.
Do you separate property accounting from care operations accounting?
Yes, and it is one of the first things we set up. The real estate and the care operation are separate economic activities, so we structure the chart of accounts to report each on its own, with care revenue broken out by type and shared costs allocated on a defensible basis.
What assisted living software do you work in?
We work with the platforms this sector actually runs, including Sage, AppFolio, Aline, RealPage, and Yardi, using accountant access to your own instance rather than exporting your data to a parallel ledger.
How do you access our accounting software?
Clients create and administer individual user access for authorized REA personnel within the client's own software environment. REA does not provide, resell, or sublicense software access. Clients retain control over access permissions and remain responsible for administering access in accordance with their software agreements and internal security policies.
Ready for Books That Separate the Building From the Business?
Schedule a call with our team to learn how REA handles assisted living accounting, from property-level results to care revenue and payroll allocation.