Expert AppFolio Bookkeeping Services For Scaling Property Investors & Managers In New York City
New York City’s rental market is one of the most complex in the country, shaped by decades of rent regulation, DHCR oversight, and a dense mix of multifamily co-ops, condos, and rent-stabilized buildings across all five boroughs. Property managers operating in this environment face accounting demands that go well beyond standard bookkeeping. REA, an official AppFolio Stack partner, provides outsourced accounting built for the compliance weight and portfolio complexity NYC demands.
Proud AppFolio Stack™ Partners, working directly inside your AppFolio instance.
New York rules that apply here
- Deposit return deadline
- 14 days
- Statute
- GOL 7-103
Why New York Real Estate Professionals Choose REA
AppFolio Expertise, Applied to New York City
Experts in AppFolio Bookkeeping
Our New York City property accountants are exclusive accounting partners for the AppFolio Stack™, bringing specialized knowledge to your bookkeeping needs. We’ll handle your monthly financial tasks while maximizing AppFolio’s capabilities in the competitive New York market.
Assigned, Responsive Team
We understand that New York City property management can present sudden challenges. That’s why your dedicated REA team is always ready to address your concerns through email, phone, video, or Slack, providing timely support and confidence for your property operations.
Accurate Monthly Bookkeeping
Save valuable time with our AppFolio accounting services and prevent errors that often occur in New York City property management. REA ensures accurate, punctual reports delivered monthly, allowing you to concentrate on what’s important, expanding your business in the competitive New York market.
Deposit Compliance for New York City Portfolios
GOL 7-103
New York General Obligations Law section 7-103 requires the deposit, and an itemized statement of any deductions, within 14 days of the tenant vacating. Deposits must sit in a separate interest-bearing account located in New York State, used exclusively for tenant deposits. Missing the deadline forfeits the right to withhold any part of the deposit.
GOL 7-103 states outright that deposits are held in trust for the tenant. New York is therefore the clearest example of deposit money being legally somebody else's money rather than a landlord liability.
All New York requirementsHow we keep you inside it
- Deposit liabilities tracked per tenant in AppFolio, so a 14 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
How AppFolio Bookkeeping Transforms Property Management
Onboarding a New York City Portfolio
- 1Understanding Your Business Inside-Out
We value your time and strive to make the most of it. Once you securely grant REA access to your AppFolio account in New York City, we'll promptly review your books and initiate the onboarding process. Next, we'll address any issues with your account, perform any necessary catch-up bookkeeping, and examine tenant/owner statements to ensure the utmost accuracy in your New York property records.
- 2Efficient Monthly Bookkeeping
After ensuring your AppFolio account is accurate and current for your New York City properties, we commence our monthly AppFolio consultant services. Handling everything from bank reconciliations to accounts payable and reporting, we serve as your experienced accounting team for your property management needs in the competitive New York market.
- 3Monthly Reports and Statements
Each month we deliver clear financial packages through AppFolio, including P&Ls, balance sheets, and owner and tenant statements. Every report is trust-account compliant and built to give total visibility into portfolio performance.
Appfolio Bookkeeping Services from REA
Available to New York City 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 New York City 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
New York City 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 moreOn a Different Platform in New York City?
We Work Inside All of Them
Experts 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
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!
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.
Frequently Asked Questions
Does REA work with New York City co-op and condo associations using AppFolio?
Yes. REA provides AppFolio bookkeeping for co-op and condo associations alongside standard residential and commercial property management accounts. NYC associations often carry complex maintenance fee structures, underlying mortgage obligations, and reserve fund requirements. REA handles these within AppFolio’s HOA accounting framework.
How does REA support New York City property managers dealing with RGB annual rent guideline changes?
Each year the Rent Guidelines Board sets allowable increases for rent-stabilized leases. REA updates affected unit ledgers in AppFolio to reflect new legal rent ceilings at renewal, ensuring collected amounts stay compliant and your books accurately distinguish stabilized income from any market-rate units in the same portfolio.
Can REA handle AppFolio bookkeeping for rent-stabilized buildings in New York City?
Yes. REA manages unit-level ledgers that separately track legal regulated rents and preferential rents inside AppFolio, reconcile collections against RGB-approved increases, and maintain records structured for DHCR registration and audit review. This is a core part of what makes REA’s service relevant to NYC multifamily portfolios.
What kind of financial reports do you provide to AppFolio clients?
We provide detailed monthly financial reports and statements that offer a transparent overview of your business’s financial health. These reports are designed to ensure compliance with all trust account regulations and to help you make informed business decisions based on accurate financial data.
Can you handle both corporate and trust Appfolio bank reconciliation?
Yes, we offer both corporate and trust bookkeeping services tailored to AppFolio users. We manage the complexity of your corporate financial activities as well as ensure meticulous accuracy and compliance in your trust accounting, using AppFolio’s comprehensive toolset to manage all aspects effectively.
More in New York
Other New York markets, the platforms we work in, and the functions available on their own.
AppFolio Bookkeeping for New York City
Schedule a call and we will review your AppFolio setup, your New York deposit handling, and what it takes to close clean every month.