REA.co Real Estate Accounting & Tax

Real Estate Accounting in Las Vegas

Las Vegas runs on high-volume single-family and small multifamily rentals, and Nevada gives tenants an option most states do not: a surety bond instead of a cash security deposit. A portfolio carrying both creates two different accounting treatments for what looks like the same thing.

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Nevada rules that apply here

Deposit return deadline
30 calendar days
Statute
NRS 118A.242
Full Nevada requirements

Why Nevada Real Estate Professionals Choose REA

AppFolio Expertise, Applied to Las Vegas

Experts in AppFolio Bookkeeping

A cash deposit is money you hold for the tenant, so it is a liability on your balance sheet and belongs in trust. A surety bond is not. Nothing is held, no liability exists, and the landlord's recourse at move-out is a claim against the surety rather than a deduction from funds already in hand. Treating the two the same way is the error we most often find here: either bonded tenancies get phantom deposit liabilities recorded against them, or the claim process is never triggered because the workflow assumes there is cash sitting there to net against.

Assigned, Responsive Team

The move-out obligation under NRS 118A.242 is the same either way. Within 30 days of the tenancy terminating, the tenant gets an itemised written accounting of the disposition, and any remaining cash deposit is returned. Failing that makes the landlord liable for the full deposit plus a further sum the court may set up to the same amount again, so the effective exposure is double.

Accurate Monthly Bookkeeping

Volume is the compounding factor. A Las Vegas manager running a few thousand scattered single-family doors is processing move-outs continuously rather than seasonally, each on its own 30-day clock and each potentially cash or bonded. That is a tracking problem long before it is an accounting one, and it is why the deposit ledger has to record which instrument secures each tenancy.

Deposit Compliance for Las Vegas Portfolios

NRS 118A.242

Nevada NRS 118A.242 requires an itemised written accounting of the disposition of the deposit, and return of any remaining portion, no later than 30 days after the tenancy terminates. Failing that makes the landlord liable for an amount equal to the entire deposit PLUS a further sum the court may set up to the deposit amount again, so the practical exposure is double.

Nevada explicitly permits a SURETY BOND in lieu of a cash security deposit, and the two are not the same on the books. A cash deposit is a liability held in trust; a bond is not held at all, so no deposit liability exists and recourse at move-out is a claim against the surety rather than a deduction from funds in hand. The deposit ledger has to record which instrument secures each tenancy or one treatment gets applied to the wrong one.

All Nevada requirements

How 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 Las Vegas Operators

Trust Bookkeeping

Leverage Appfolio's powerful bookkeeping capabilities with REA's tailored service.

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Corporate Bookkeeping

REA's skilled team, in combination with Appfolio's comprehensive toolset, addresses the complexity of your corporate financial activities.

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Bank Reconciliations

Employing Appfolio's state-of-the-art system, REA offers bank reconciliation services that brings meticulous accuracy to your finances.

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Financial Diagnostic Cleanup

REA utilizes Appfolio's advanced diagnostic tools to swiftly and effectively troubleshoot financial anomalies.

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Trust Compliance

REA pairs its accounting prowess with Appfolio's detailed reporting to deliver comprehensive Trust Compliance Verification services.

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AppFolio Accounting & Bookkeeping Services

For Las Vegas 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

Las Vegas 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

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Bank Reconciliation Services

Three-way reconciliation, every account

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Accounts Payable & Receivable

Bills paid, rent collected, owners paid

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Bookkeeping Cleanup & Catch-Up

Back books fixed and current

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CAM Reconciliation

Annual commercial true-ups

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Experts In All Property Types

  • Single-Family
  • Multifamily
  • Student Housing
  • Affordable Housing
  • Community Associations
  • Commercial
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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.

Check Out What Our Clients Have To Say About Us

Property Managers, Investors & Owner Operators

Client story

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.

KSKelly StanawayProperty Manager

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.

TSTrevor SmithProperty Manager

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!

SCSara CrosbyReal Estate Investor

Frequently Asked Questions

How do you account for surety bonds instead of cash deposits?

Differently, which is the point. A cash deposit is a liability you hold in trust; a bond is not held at all, so no deposit liability exists and recourse at move-out is a claim against the surety. We record which instrument secures each tenancy so neither treatment gets applied to the wrong one.

What is the deadline and penalty in Nevada?

Thirty days from termination of the tenancy for an itemised written accounting and return of any remaining deposit, under NRS 118A.242. Failing it makes the landlord liable for the entire deposit plus a further sum up to the same amount again.

We manage thousands of scattered single-family doors. Can you keep up?

Yes. Continuous move-outs each running their own 30-day clock is a tracking discipline, so deposits are managed per tenancy with the deadline and the securing instrument both on the ledger rather than in someone's inbox.

More in Nevada

Other Nevada markets, the platforms we work in, and the functions available on their own.

AppFolio Bookkeeping for Las Vegas

Schedule a call and we will review your AppFolio setup, your Nevada deposit handling, and what it takes to close clean every month.