Expert Entrata Bookkeeping Services For Scaling Property Investors & Managers In Albany
Albany's rental stock runs from rent-stabilized walk-ups near downtown to newer buildings leasing to SUNY Albany students and state employees. That mix drives heavy lease turnover each August alongside long, steady government and healthcare tenancies. Entrata was built multifamily-first, so leasing, resident services, and accounting all share one record, which means a renewal, a concession, or a mid-lease correction posts straight to the general ledger the moment leasing enters it. We built our Albany bookkeeping process around that overlap, reviewing leasing activity before close so it lands in your books correctly the first time.
We work with accountant access inside your own Entrata instance, exactly as you would grant an internal hire.
New York rules that apply here
- Deposit return deadline
- 14 days
- Statute
- GOL 7-103
Why Entrata Operators in Albany Come to REA
Multifamily-first, with leasing and accounting on one record
Student turnover flows straight to GL
SUNY Albany's academic calendar concentrates move-ins and move-outs into a short window each fall, with prorated rent and first-month concessions entered by leasing. In Entrata, that leasing entry posts directly to the general ledger, so we review the turnover batch before close and catch any concession or proration that was coded to the wrong account.
Rent-stabilized renewals checked twice
Some of Albany's older multifamily buildings carry New York rent-stabilized units, where renewal increases have to follow state guidelines exactly. Entrata posts a renewal the moment leasing enters it, so a stabilized unit priced off the guideline number would hit the ledger before anyone caught it. We check stabilized renewals against the lease file before each close.
Two turnover speeds, one ledger
Albany portfolios often blend high-turnover student buildings with steadier leases held by state employees and healthcare workers. Entrata treats every leasing entry the same way, posting it straight to the general ledger regardless of tenant type, so our month-end review applies heavier scrutiny to the turnover-heavy buildings and a lighter pass to the stable ones.
Entrata and New York Deposit Rules
GOL 7-103
New York General Obligations Law 7-103 requires landlords return a security deposit or send an itemized deduction statement within 14 days of move-out. Entrata's resident ledger tracks the deposit balance accurately, but it doesn't flag that statutory clock on its own. Because move-out activity posts from leasing into the ledger the moment it's entered, we treat that entry as the trigger: we reconcile the deposit balance and confirm the itemized statement goes out inside the 14-day window, not whenever the ledger happens to close.
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.
All New York requirementsHow we keep you inside it
- Deposit liabilities tracked per tenant in Entrata, 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
Entrata Accounting & Bookkeeping Services
For Albany 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
Albany operators use REA for the full monthly close or for the single function that has become a bottleneck. Each one is performed inside your Entrata 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 Albany?
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
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.
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!
Frequently Asked Questions
How do you meet New York's 14-day security deposit deadline on Entrata?
New York General Obligations Law 7-103 gives you 14 days from move-out to return a deposit or send an itemized statement. Entrata logs the move-out and deposit balance the moment leasing closes the lease, so we use that leasing entry as the start of the clock rather than waiting for the books to close, and confirm the statement goes out before the deadline.
Why does REA review leasing activity, not just the books, on Entrata?
Entrata is built multifamily-first: leasing, resident services, and accounting all write to the same record. That's a strength for resident ledger accuracy, but it also means a concession, lease correction, or misapplied credit entered by the leasing team lands in the general ledger immediately. We review that leasing activity before each close because on Entrata, most GL errors start on the leasing side.
Do you work with both student housing and rent-stabilized buildings in Albany?
Yes. Albany portfolios often combine SUNY Albany student housing, older rent-stabilized multifamily buildings, and newer market-rate units serving state employees and healthcare workers. Each behaves differently in Entrata: student buildings generate heavy turnover and concession activity, stabilized units need renewal increases checked against state guidelines, and market-rate buildings tend to be steadier. We adjust our review to match each portfolio type rather than applying one process to all of them.
More in New York
Other New York markets, the platforms we work in, and the functions available on their own.
Entrata Bookkeeping for Albany
Schedule a call and we will review your Entrata setup, your New York deposit handling, and what it takes to close clean every month.