Real Estate Accounting in Hattiesburg
Hattiesburg's rental base turns over steadily and many tenants leave the area entirely, which makes Mississippi's demand requirement more than a technicality. A large share of departing tenants never make one.
Proud AppFolio Stack™ Partners, working directly inside your AppFolio instance.
Mississippi rules that apply here
- Deposit return deadline
- 45 days from termination, possession and demand
- Statute
- Miss. Code 89-8-21
Why Mississippi Real Estate Professionals Choose REA
AppFolio Expertise, Applied to Hattiesburg
Experts in AppFolio Bookkeeping
Because the 45-day clock requires demand, a portfolio with high out-of-area turnover accumulates deposits that are owed but not yet payable. Those balances are real liabilities and they do not extinguish themselves. Without a category for them the trust account holds money nobody can attribute, and the reconciliation stops describing anything useful.
Assigned, Responsive Team
We age them explicitly by tenancy and by vacate date, so the owner can see what proportion of the deposit balance belongs to current tenants and what belongs to people who left. That is the difference between a trust account that is merely balanced and one that is understood.
Accurate Monthly Bookkeeping
When demand does arrive, often months later and from elsewhere, the file has to already exist. Mississippi requires the claim to be itemised in a written notice covering only what was reasonably necessary, and assembling that evidence long after the unit has been re-let is not realistic. The work happens at move-out; the demand only starts the clock on delivering it.
Deposit Compliance for Hattiesburg Portfolios
Miss. Code 89-8-21
Mississippi 89-8-21 requires the remaining deposit no later than 45 days after termination of the tenancy, delivery of possession AND DEMAND BY THE TENANT. All three conditions must occur, so a tenant who vacates and never demands has not started the clock. Claims are limited to what is reasonably necessary for rent defaults, tenant damage excluding ordinary wear, cleaning, and other reasonable expenses caused by the default, itemised in a written notice.
The demand condition is the only one the landlord does not already know, so its date must be captured on arrival or the deadline cannot be evidenced. Like Oklahoma, the demand trigger means portfolios accumulate deposits that are owed but not yet payable, and those balances need their own ageing category or the trust account holds money nobody can attribute.
All Mississippi requirementsHow we keep you inside it
- Deposit liabilities tracked per tenant in AppFolio, so a 45 days from termination, possession and demand 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 Hattiesburg 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 Hattiesburg 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
Hattiesburg 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
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!
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.
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!
Frequently Asked Questions
Many of our tenants leave the area and never ask for their deposit. What then?
The money is still owed. Because the clock needs demand, those balances sit as owed-but-not-payable, so we age them by tenancy and vacate date rather than letting them blur into the general deposit liability.
Why does that matter for the trust account?
Because otherwise the account holds money nobody can attribute, and a balanced reconciliation stops telling you anything about whose money it is.
What if a demand arrives months later?
The file has to already exist. The itemisation still has to cover only what was reasonably necessary, and that evidence cannot be assembled after the unit has been re-let.
More in Mississippi
Other Mississippi markets, the platforms we work in, and the functions available on their own.
AppFolio Bookkeeping for Hattiesburg
Schedule a call and we will review your AppFolio setup, your Mississippi deposit handling, and what it takes to close clean every month.