Expert Entrata Bookkeeping Services For Scaling Property Investors & Managers In Chicago
Chicago's multifamily stock, from the high-rise lakefront towers to the dense courtyard buildings packed into Logan Square and Wicker Park, is exactly the property type Entrata was built for. Its leasing, resident services and accounting all run off one shared record, so when a leasing agent in one of these buildings approves a concession or corrects a lease, it posts to the general ledger the same day. We built our Entrata bookkeeping process around watching that leasing-to-GL handoff, not just closing the books after the fact.
We work with accountant access inside your own Entrata instance, exactly as you would grant an internal hire.
Illinois rules that apply here
- Deposit return deadline
- 45 days (5+ unit buildings)
- Statute
- 765 ILCS 710
Why Entrata Operators in Chicago Come to REA
Multifamily-first, with leasing and accounting on one record
We watch the leasing feed
On Entrata, a concession or a misapplied credit doesn't sit in a queue, it posts straight to the general ledger the moment the leasing team enters it. In Chicago's dense multifamily buildings, where renewal season drives constant lease activity, our team reviews that leasing feed daily instead of waiting for month-end to catch what already hit the books.
Resident ledgers built for turnover
Entrata's resident ledger tracks charges, payments and lease terms as one continuous record, which matters in Wicker Park and Logan Square buildings where move-out volume stays high year round. Chicago's landlord tenant ordinance adds documentation requirements most cities don't have, so we reconcile that ledger against the actual lease before any move-out paperwork goes out, not after a dispute lands.
Renewals reported multifamily-style
Entrata's renewal and rent roll reporting was built for buildings with hundreds of units, which fits the high-rise lakefront properties and dense Logan Square walk-ups we work in around Chicago. We tie every renewal increase back to the GL before it hits a statement, so owners see accurate trailing twelve numbers instead of a rent roll that drifted from bookkeeping.
Entrata and Illinois Deposit Rules
765 ILCS 710
Illinois law (765 ILCS 710) gives landlords of buildings with five or more units 45 days to return a security deposit or send an itemized statement of deductions. Entrata's resident ledger already holds every charge against a deposit, but because leasing staff can post adjustments directly to that ledger, a last-minute credit or correction can change the deposit math after move-out. We reconcile the ledger against the lease file before any 45-day deadline, so the statement we send matches what was actually charged.
The Illinois Security Deposit Return Act, 765 ILCS 710, requires landlords of buildings with five or more units to return the deposit within 45 days of move-out, with an itemized statement referencing the lease and supported by receipts. Bad-faith withholding carries a penalty of twice the deposit plus costs and fees.
All Illinois requirementsHow we keep you inside it
- Deposit liabilities tracked per tenant in Entrata, so a 45 days (5+ unit buildings) 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
Entrata Accounting & Bookkeeping Services
For Chicago 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
Chicago operators use REA for the full monthly close or for the single function that has become a bottleneck. Each one is performed inside your Entrata 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 moreOn a Different Platform in Chicago?
We Work Inside All of Them
Experts 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
Does Entrata track Illinois' 45-day security deposit deadline?
Entrata doesn't enforce Illinois' 765 ILCS 710 deadline on its own. It holds the deposit and charge history on the resident ledger, but the 45-day clock for returning a deposit or sending an itemized statement runs regardless of what's posted. We set our own reconciliation deadline ahead of day 45 for every Chicago building with five or more units, so the statement goes out with margin to spare.
Why does a leasing concession show up as an accounting problem on Entrata?
Because leasing, resident services and accounting share one record in Entrata, a concession or a lease correction entered by a leasing agent posts to the general ledger immediately, with no separate approval step on the accounting side. That's a strength for keeping the resident ledger current, but it means our bookkeeping process has to review leasing activity daily instead of only at month-end close.
Do you work with Entrata on smaller Chicago buildings, or just large multifamily?
Entrata is built for multifamily, so it fits the dense buildings in neighborhoods like Logan Square and Wicker Park, and the larger lakefront high-rises, better than scattered single-family rental portfolios on the South and West Sides. For those SFR portfolios we typically see a different platform in place, but where a Chicago operator runs Entrata, we handle the bookkeeping across the full building, not just a handful of units.
More in Illinois
Other Illinois markets, the platforms we work in, and the functions available on their own.
Entrata Bookkeeping for Chicago
Schedule a call and we will review your Entrata setup, your Illinois deposit handling, and what it takes to close clean every month.