Real Estate Accounting in Ann Arbor
Ann Arbor's rental year runs on an academic calendar, which means a portfolio can turn over a very large share of its units inside a few weeks. Michigan's deposit rules are written for individual tenancies, and they apply to every one of them simultaneously.
Proud AppFolio Stack™ Partners, working directly inside your AppFolio instance.
Michigan rules that apply here
- Deposit return deadline
- 30 calendar days
- Statute
- MCL 554.609
Why Michigan Real Estate Professionals Choose REA
AppFolio Expertise, Applied to Ann Arbor
Experts in AppFolio Bookkeeping
Concentrated turnover converts a manageable obligation into an operational one. Every unit vacating in the same fortnight starts its own 30-day itemisation clock under MCL 554.609, and each requires an individual list with estimated repair costs and the basis for each charge. The consequence of missing any one of them is that the landlord is treated as agreeing no damages are due for that tenancy, so the failures are unit-by-unit rather than portfolio-wide.
Assigned, Responsive Team
The inspection bottleneck is the real constraint. Hundreds of units cannot be inspected, costed and documented in the same week by the same people, so the sequencing has to be planned before the turn rather than discovered during it. We work backwards from each unit's own deadline instead of treating the turn as a single event with one due date.
Accurate Monthly Bookkeeping
The volume also makes documentation quality slip precisely when it matters most. A rushed list of round-number charges with no basis is exactly what the statute does not accept, and it is what gets produced when three hundred move-outs are being cleared at once. Tying each charge to the inspection record and the actual cost is the difference between a defensible file and a full refund.
Deposit Compliance for Ann Arbor Portfolios
MCL 554.609
Michigan MCL 554.609 requires the itemised list of damages, including the estimated cost of repair for each item and the basis for the assessment, to be mailed within 30 days after termination of occupancy. Failure to comply constitutes AGREEMENT by the landlord that no damages are due and the full deposit must be returned, so the right to retain does not shrink, it disappears. A second clock follows: where damages are claimed and disputed, an action generally must be commenced within 45 days of the tenant vacating or the tenant may recover double.
Michigan caps the deposit at one and a half months' rent measured against the rent actually charged, and requires a move-in inventory checklist that functions as the baseline for every later deduction. Because the cap follows current rent, a deposit rolled forward when a tenant transfers units can quietly exceed the permitted maximum, so it has to be recalculated on transfer rather than carried across.
All Michigan 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 Ann Arbor 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 Ann Arbor 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
Ann Arbor 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
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.
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.
Frequently Asked Questions
How do you handle hundreds of move-outs in the same few weeks?
By working backwards from each unit's own 30-day deadline rather than treating the turn as one event. Every tenancy has its own clock and its own consequence for missing it.
What happens if we miss the deadline on some units?
The failures are individual. For each tenancy missed, Michigan treats the landlord as agreeing no damages are due and the full deposit for that unit goes back.
Is a quick list of charges enough?
No. The statute expects estimated repair cost and the basis for each item, and round-number charges without support are what gets produced under time pressure and what fails when challenged.
More in Michigan
Other Michigan markets, the platforms we work in, and the functions available on their own.
AppFolio Bookkeeping for Ann Arbor
Schedule a call and we will review your AppFolio setup, your Michigan deposit handling, and what it takes to close clean every month.