Real Estate Accounting in Arlington
Arlington's proximity to Washington produces a large furnished corporate and government-contract rental segment, and a furnished unit is a different asset on the books than the same unit unfurnished.
Proud AppFolio Stack™ Partners, working directly inside your AppFolio instance.
Virginia rules that apply here
- Deposit return deadline
- 45 calendar days, plus 15 with contractor notice
- Statute
- Va. Code 55.1-1226
Why Virginia Real Estate Professionals Choose REA
AppFolio Expertise, Applied to Arlington
Experts in AppFolio Bookkeeping
Furniture is a depreciable asset with a far shorter life than the building, and in a furnished portfolio it is a genuine capital programme rather than an incidental purchase. Expensing a full unit refurnish because the individual items were inexpensive understates basis and overstates the year's cost, and it removes any visibility into replacement cycles. We maintain a furniture and equipment schedule alongside the building so the owner can see both the asset and when it is due to be replaced.
Assigned, Responsive Team
Corporate tenancies also change the revenue pattern. Terms are shorter, rates are higher, and vacancy between placements is normal rather than a failure, so the metrics that describe conventional multifamily performance mislead. Reporting has to show revenue per available unit across the period rather than occupancy on a given day.
Accurate Monthly Bookkeeping
Virginia's deposit rules give 45 days from the termination date or the date the tenant vacates for the itemised written notice, under 55.1-1226, which is longer than most states and is often assumed to be 30. Short corporate tenancies mean many move-outs, and applying a neighbouring state's clock to a Virginia portfolio is the error a multi-state operator makes here.
Deposit Compliance for Arlington Portfolios
Va. Code 55.1-1226
Virginia Code 55.1-1226 requires the deposit and any deductions to be itemised in a written notice with any amount due within 45 days of the termination date or the date the tenant vacates. Uniquely, where damages EXCEED the deposit and repair requires a third-party contractor, written notice to the tenant inside that 45-day window buys an ADDITIONAL 15 days to provide the itemisation.
Virginia's interest obligation is tied to portfolio SIZE rather than applying universally: it attaches where the landlord owns more than ten dwelling units, or manages for someone who does, and the deposit has been held beyond thirteen months. An investor crossing ten units mid-year acquires an obligation nothing about the eleventh unit announces, which is why unit count belongs in the accounting record as a dated attribute.
All Virginia requirementsHow we keep you inside it
- Deposit liabilities tracked per tenant in AppFolio, so a 45 calendar days, plus 15 with contractor notice 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 Arlington 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 Arlington 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
Arlington 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
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
How should furnished corporate rentals be accounted for?
With a furniture and equipment schedule separate from the building. Furniture depreciates over a much shorter life, and expensing a refurnish because the items were individually cheap understates basis and hides the replacement cycle.
Our occupancy looks poor compared to conventional multifamily. Is that right?
Probably not comparable. Corporate tenancies are short by design with gaps between placements, so revenue per available unit across the period is the meaningful measure rather than occupancy on a given day.
What is Virginia's deposit deadline?
Forty-five days from the termination date or the date the tenant vacates, under 55.1-1226. It is longer than most states, and multi-state operators frequently apply a neighbouring state's 30-day clock by mistake.
More in Virginia
Other Virginia markets, the platforms we work in, and the functions available on their own.
AppFolio Bookkeeping for Arlington
Schedule a call and we will review your AppFolio setup, your Virginia deposit handling, and what it takes to close clean every month.