Real Estate Accounting in Wichita
Kansas sets different maximum deposits depending on whether a unit is furnished, which sounds trivial until a portfolio contains both and nobody recorded which is which.
Proud AppFolio Stack™ Partners, working directly inside your AppFolio instance.
Kansas rules that apply here
- Deposit return deadline
- 30 calendar days
- Statute
- K.S.A. 58-2550
Why Kansas Real Estate Professionals Choose REA
AppFolio Expertise, Applied to Wichita
Experts in AppFolio Bookkeeping
Under K.S.A. 58-2550 the deposit may be up to one month's rent for an unfurnished unit and up to one and a half months for a furnished one. That makes furnishing status a compliance attribute of the unit, not a marketing detail. A portfolio that furnished some units over time without updating the records has no way to demonstrate that a higher deposit was permitted, and the burden of showing it sits with the landlord.
Assigned, Responsive Team
It also moves with the unit. A unit let furnished this year and unfurnished next has a different permitted maximum in each tenancy, so the attribute has to be dated against the lease rather than held as a static property flag. We record it at the tenancy level for that reason.
Accurate Monthly Bookkeeping
The penalty for procedural failure is meaningful. Missing the 30-day deadline for return and the itemised statement forfeits the right to retain any part of the deposit, and a landlord who wrongfully withholds can be liable for one and a half times the amount plus court costs and reasonable attorney fees.
Deposit Compliance for Wichita Portfolios
K.S.A. 58-2550
Kansas K.S.A. 58-2550 requires return of the refundable portion and an itemised written statement of deductions within 30 days of the tenant surrendering possession. Missing either forfeits the right to retain ANY part of the deposit, and wrongful withholding exposes the landlord to one and a half times the amount plus court costs and reasonable attorney fees.
Kansas sets the maximum deposit by FURNISHING: up to one month's rent for an unfurnished unit and up to one and a half months for a furnished one. That makes furnishing status a compliance attribute of the tenancy rather than a marketing detail, and because a unit can be let furnished one year and unfurnished the next, it has to be dated against the lease rather than flagged statically on the property.
All Kansas requirementsHow we keep you inside it
- Deposit liabilities tracked per tenant in AppFolio, so a 30 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 Wichita 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 Wichita 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
Wichita 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
How much deposit can we charge in Kansas?
Up to one month's rent unfurnished and up to one and a half months furnished, under K.S.A. 58-2550. That makes furnishing status a compliance attribute rather than a marketing detail.
What if a unit changes between furnished and unfurnished?
The permitted maximum changes with it, so we record furnishing status at the tenancy level and dated, not as a static flag on the property.
What is the penalty for a late return in Kansas?
Missing the 30-day deadline for the return and itemised statement forfeits the right to retain any part of the deposit, and wrongful withholding can cost one and a half times the amount plus costs and attorney fees.
More in Kansas
Other Kansas markets, the platforms we work in, and the functions available on their own.
AppFolio Bookkeeping for Wichita
Schedule a call and we will review your AppFolio setup, your Kansas deposit handling, and what it takes to close clean every month.