Real Estate Bookkeeping services 2018-05-02T09:44:22+00:00

Real Estate Bookkeeping services

Whatever the profile and scope of the real estate agency, competent accounting management is an integral part of the success of any business.

Accounting for the Real Estate Agency

It’s no secret to anyone that every business area has its own specificity. And in every sphere there are specific features of organizing and maintaining financial accounting. However, it is in the realm of real estate business that there are perhaps more “pitfalls”, especially if it is a broad agency real estate agency. It is also about buying, selling and renting real estate objects, not only residential but also non-residential, making various deals both with individuals and with legal entities.

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The main part of the financial expenses in such an agency, according to experts, is the salary of employees, rent of office space and, of course, do not forget about advertising. Advertise because you need not only the basic services of the agency, but also additional. And also sometimes it is required to advertise one particular real estate object.

But the gross revenue of a real estate agency, whose main income item, the sale of apartments, is fickle. It largely depends on seasonal fluctuations in property prices, and on changes in demand and supply. These factors, sometimes creating an imbalance in the income and expenditure of financial resources, must be taken into account when organizing financial accounting.

In many cases, managers of such companies prefer not to keep a full-time accountant. In order to optimize the cost of accounting, they prefer to seek help from independent external specialists – professional accountants and lawyers. This phenomenon in the modern market of accounting services is called outsourcing, and has recently enjoyed the greatest demand. For example, the company Back-Office provides a set of necessary accounting services to real estate companies, making their life easier and opening up new opportunities for them.

First, this approach makes it possible to use the services of an accounting specialist in the real estate sphere.

Secondly, these services can be used for a very reasonable price. Today, an increasing number of medium and small companies opt for accounting outsourcing.

Accounting for the Real Estate Agency

The main positive point in outsourcing is a flexible system of payment for the services provided. For example, in the summer period, when many leave for vacation, the revenue of a real estate agency can significantly decrease, and in some of the months it will turn out to be completely zero.

Reports in the same tax must be provided regularly, regardless of how actively and successfully your company works. That is, the staff bookkeeper will have to pay equally in periods of recessions and in periods of recovery, whereas in an outsourcing company the preparation of a zero report will be much cheaper.