Real Estate Accounting in Concord
New Hampshire requires the deposit and the interest due to be settled together within 30 days, which means a portfolio that has not been accruing interest cannot produce a correct return even when it meets the deadline.
Proud AppFolio Stack™ Partners, working directly inside your AppFolio instance.
New Hampshire rules that apply here
- Deposit return deadline
- 30 calendar days
- Statute
- RSA 540-A:7
Why New Hampshire Real Estate Professionals Choose REA
AppFolio Expertise, Applied to Concord
Experts in AppFolio Bookkeeping
The obligation is to return the deposit and pay the interest due within 30 days of termination. Those are one settlement, not two, so an accrual that was never maintained has to be reconstructed inside the same window as the damage assessment. In practice that is where portfolios discover they do not know what rate the account paid over the relevant period.
Assigned, Responsive Team
Reconstructing a rate history after the fact is unreliable, and the amounts are small enough that the temptation is to estimate. That is the wrong instinct, because the shortfall is not the risk. The risk is a return that is demonstrably not what the statute required, on a file where everything else was done properly.
Accurate Monthly Bookkeeping
The damage side is conventional: costs of repair for damage excluding reasonable wear and tear, with a written itemised list of the damages claimed. Keeping that separate from the interest calculation in the file, while settling both in one payment, is the arrangement that makes the return checkable.
Deposit Compliance for Concord Portfolios
RSA 540-A:7
New Hampshire RSA 540-A:7 requires the deposit returned AND any interest due paid within 30 days of termination, with a written itemised list of any damages claimed. Deposit and interest settle together as one payment, so a portfolio that never accrued cannot produce a correct return even when it meets the deadline.
The interest rate is not set by statute. A landlord holding a deposit for a YEAR OR LONGER pays interest at a rate equal to that paid on regular savings accounts at the New Hampshire bank, savings and loan association or credit union WHERE IT IS DEPOSITED. The bank account is therefore an input to the calculation: two portfolios with identical deposits owe different amounts depending on where they bank, and changing institution changes the obligation.
All New Hampshire 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 Concord 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 Concord 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
Concord 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
Is the interest paid separately from the deposit?
No, they settle together within 30 days of termination. A portfolio that has not been accruing has to reconstruct the interest inside the same window as the damage assessment.
Can we just estimate the interest?
It is the wrong instinct. The shortfall is small; the risk is a return that demonstrably was not what the statute required, sitting on a file where everything else was done correctly.
What does the damage side require?
Costs of repair for damage excluding reasonable wear and tear, with a written itemised list of what is claimed. We keep it separate from the interest calculation in the file even though both settle in one payment.
More in New Hampshire
Other New Hampshire markets, the platforms we work in, and the functions available on their own.
AppFolio Bookkeeping for Concord
Schedule a call and we will review your AppFolio setup, your New Hampshire deposit handling, and what it takes to close clean every month.