Expert MRI Bookkeeping Services For Scaling Property Investors & Managers In New York City
New York City's rent-stabilized buildings sit under DHCR oversight, but a large share of the city's inventory pairs residential units with ground-floor retail or commercial office space, exactly the mixed-use structure MRI was built to handle. MRI's strength is commercial lease administration and CAM reconciliation, modules most residential-only platforms don't attempt. For property managers running mixed commercial-residential portfolios across the boroughs, that matters. Our team builds the bookkeeping around where MRI's modules actually connect, so a retail lease abstracted in one module bills correctly from another instead of drifting apart at reconciliation.
We work with accountant access inside your own MRI 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 MRI Operators in New York City Come to REA
Enterprise and modular, strong on commercial
CAM Reconciliation That Holds Up
In buildings mixing rent-stabilized apartments with ground-floor retail, CAM reconciliation has to hold across two very different lease types. MRI handles commercial CAM well by design. We tie those charges back to the actual lease abstracts your team files, not just the module's default output, so year-end reconciliations match what tenants were actually billed.
Module Handoffs, Checked Not Assumed
MRI implementations vary building to building, and the gap between the lease administration module and the billing module is where NYC portfolios lose money. We reconcile what's abstracted against what's billed on every cycle, catching the disagreements before they surface in a co-op board packet or a commercial tenant's CAM statement.
Residential Ledgers Inside a Commercial Build
Most MRI instances in this city are configured commercial-first, which can leave rent-stabilized residential ledgers as an afterthought. We keep DHCR-relevant registers, stabilized rent rolls, and deposit accounts current inside your existing MRI setup, so the residential side doesn't quietly fall behind the commercial modules driving the implementation.
MRI and New York Deposit Rules
GOL 7-103
New York General Obligations Law 7-103 gives you 14 days to return a security deposit or send an itemized statement after move-out. MRI's deposit tracking typically lives in whichever module handles residential unit turnover, separate from the lease administration and CAM modules commercial teams use daily. When those two sides aren't reconciled on the same cycle, deposit deadlines slip. We track deposit ledgers against move-out dates directly, so the 14-day GOL 7-103 clock doesn't depend on someone remembering to check a module they don't normally touch.
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 MRI, 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
MRI 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 MRI 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
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.
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.
Frequently Asked Questions
Can MRI track the 14-day deposit deadline under New York law?
MRI doesn't flag the 14-day window under General Obligations Law 7-103 on its own, that timing sits outside its native workflows. We track move-out dates against deposit ledgers separately and flag anything approaching day 14, so the itemized statement or refund goes out inside the legal window regardless of which MRI module holds the unit's residential data.
Does MRI handle CAM reconciliation for mixed commercial-residential buildings?
Yes, CAM reconciliation is one of MRI's strongest modules, built for commercial lease structures. The risk isn't the CAM calculation itself, it's whether the lease abstract feeding it matches what's actually billed. We audit that handoff on every cycle so commercial tenants in mixed-use NYC buildings get accurate CAM statements tied to the lease on file.
We manage co-ops, condos, and a commercial ground floor. Does MRI fit that mix?
MRI fits that mix better than most platforms because it wasn't built residential-first. Co-op and condo assessment accounting sits alongside commercial lease administration and CAM in the same system. We configure and reconcile both sides so the residential rent roll and the commercial lease ledger stay accurate without one being treated as secondary to the other.
More in New York
Other New York markets, the platforms we work in, and the functions available on their own.
MRI Bookkeeping for New York City
Schedule a call and we will review your MRI setup, your New York deposit handling, and what it takes to close clean every month.