You manage the properties. We manage the books.
Bookkeeping for apartment owners, operators and HOAs with 5+ units.Numbers your board, your lender and your partners can rely on.
Control tower board
BuildingUnitsStatusLast report
OAK ST
12
On course: the books are up to date and the building is paying its own way.
OCT
ELM AVE
24
Low on cash: the bills get paid, but there is very little left in the account afterwards.
OCT
PINE CT
8
No data: nothing has been recorded for this building, so nobody knows how it is doing.
No report yet
MAPLE DR
16
Deposits unmatched: rent roll says one thing, the bank says another.
SEP
CEDAR LN
30
Reserves short: less is set aside than the building needs for deposits owed back and big repairs.
OCT
What it looks like
Status: ON COURSE
- Units
- 50
- Rented
- 94%
- Bank balance
- $112,000
What the books show
Status: GROUNDED
- In the bank
- $112,000
- Security deposits and reserves already owed
- −$41,000
- Bills due
- −$78,000
- Real cash
- −$7,000
One sample building, same month. Invented data.
Passengers
Who is Multifamily Bookkeeping for?
Multifamily Bookkeeping is a monthly bookkeeping and review service for apartment owners, operators and HOAs with 5 or more units.
Multifamily Bookkeeping is for apartment owners, operators with several buildings, and HOAs. Every client has 5 or more units. Syndications and 1 to 4 unit rentals are served elsewhere.
Apartment owners
You own one building with 5 or more units. You want to know what it earned and where the cash went, every month.
Operators with several buildings
You run more than one building, often in more than one LLC. Each one gets its own books and its own numbers.
HOA boards
You are a volunteer board member or treasurer. You want a report you can read. We record dues per owner and keep the reserve fund apart from operating money.
Turbulence
Does this sound like your apartment building or HOA?
The bank doesn't match the rent roll. You can't tell why.
Your property manager sends a statement. You're not sure it's right.
You know the total. You don't know which building is carrying the rest.
Repairs and big improvements are all mixed together.
The lender asks for numbers and it's a scramble every time.
Security deposits are sitting in the account. Nobody has a clean list of what's owed back.
Rent roll vs bank
Where did the money go?
Oak St is a 12-unit apartment building. Its rent roll says one amount. The bank shows another. Switch the view to see the same month with the gap explained.
The $3,200 gap is unexplained.
- Rent roll
- $17,400
- In the bank
- $14,200
- Gap
- $3,200unexplained
$3,200 that nobody can explain.
Gap explained
- Vacant unit
- $1,450
- Late rent
- $1,450
- Move-in special
- $300
- Adds up to
- $3,200
One sample building, one month. Invented data.
The method behind this example is in rent roll vs bank statement.
Full books
What does full books include each month for an apartment building?
We record every transaction for each building, match the rent roll to the bank, tie out deposits and reserves, reconcile every bank account, and send each building's reports every month.
Each monthly step is explained in the guide to apartment building bookkeeping.
What you send
- Bank, card and loan statements for each building, in one shared folder.
- The rent roll for the month.
- Your property manager's owner statement, if you use one.
- Invoices and receipts, or a short note for anything with no paper.
The month, in order
- 1Statements and the rent roll come in.
- 2Every transaction is recorded to its building.
- 3The rent roll is matched to the bank, and every gap is named.
- 4Tenant deposits and reserves are tied out.
- 5Every bank account is reconciled to its statement.
- 6The reports go out.
The reports you get
- Cash view: how much cash you can really use.
- Rent roll: what every unit owed this month.
- Unpaid rent: who still owes, how much, for how long.
- Profit and loss: did the building make money this month?
- Budget against actual: which lines are off plan?
- Balance sheet: what the building owns and owes.
Flight plan
How it works for your apartment building or HOA
Book a free call
We go over how many buildings you have, how the books are kept today, and what you can't see right now.
We sort the books by building
Income, costs and loan payments are split out so every building stands on its own. The bank, the rent roll and the deposits get matched.
You get numbers every month
One set of numbers per building, every month. You see what's on course and what needs attention.
Flight log
What you get every month for an apartment building
One package for each building, once the month closes. Six reports. Each one answers one question.
- 01
Cash view
How much cash can I really use?
- 02
Rent roll
What did every unit owe this month?
- 03
Unpaid rent
Who still owes, how much, and for how long?
- 04
Profit and loss
Did the building make money this month?
- 05
Budget against actual
Which lines are off plan?
- 06
Balance sheet
What does the building own and owe on the last day of the month?
Sample building, invented data: Birch Way, 50 units, October 2026
- Net operating income
- $41,150
- Left after the loan
- $7,650
- In the bank
- $112,000
- Real cash
- −$7,000
The building made money this month. It is still $7,000 short of cash, because deposits, the reserve and $78,000 of bills come out of the bank balance first. You only see both when the reports come together.
What each report shows, and the order to read them in, is in the monthly report package for an apartment building.
Review only
What is review-only bookkeeping?
Your manager or bookkeeper keeps the books. We match the rent roll to the bank, check the manager's statements, and send you each building's numbers with a list of differences.
- Rent due on the rent roll against rent banked.
- The manager's owner statement against the bank, and each fee against the contract.
- Tenant deposits held and reserve balances.
If your manager keeps the books, we check them each month with review-only bookkeeping.
Associations
What does an HOA get?
Dues and assessments recorded per owner, the reserve fund kept apart from operating money, and a monthly report the board can read. Reserve separation is part of the base price.
The reserve fund has its own bank account and its own fund in the books. Each month the budgeted amount moves from operating to reserves, and the report shows both balances.
Boards get dues, reserves and a monthly report through our HOA bookkeeping service. New board members can start with HOA accounting explained for board members.
Instruments
How is your apartment building doing?
2 quick checks on one building: run its numbers, then tick what is true about its books today.
Instruments
Run one of your buildings.
Move the sliders or type in your own figures. The gauges show whether this one building pays its own way.
Taxes, insurance, repairs, utilities and management, divided by the number of units.
The building's loan payment divided by the number of units. Enter 0 if there is no loan.
Tower reading
Tower reading: LOW ON CASH
Left after the loan
$7,650
per month
The building covers its costs and its loan, but only just. One empty unit or one big repair could tip it over.
1.23x
Loan coverage
The building earns $1.23 for every $1.00 of loan payment.
84%
Break-even point
Costs and loan are covered once 84% of units are rented. You are at 94%.
| Line | Per month |
|---|---|
| Rent if every unit is full | $72,500 |
| Rent collected at 94% rented | $68,150 |
| Running costs | −$27,000 |
| Left before the loan | $41,150 |
| Loan payment | −$33,500 |
| Left after the loan | $7,650 |
The calculator starts with invented data. It is a rough reading, not a full set of books.
Pre-flight checklist
Building books assessment
Pick one building and tick what is true today.
0 / 6
Holding: 6 items open
Each open item is a place where the numbers can be wrong without anyone noticing.
If you keep your own records, start with our free bookkeeping templates for apartment buildings and HOAs.
Pricing
What does multifamily bookkeeping cost per door?
Choose who keeps the books and how many doors you have. The price updates as you go.
Full books cost $10 a door for the first 100 doors, $8 for doors 101 to 250, and $6 for doors 251 to 500. Review only costs $7, $6 and $5. The minimum is $699 a month.
| Doors | Full books | Review only |
|---|---|---|
| Doors 1 to 100 | $10 a door | $7 a door |
| Doors 101 to 250 | $8 a door | $6 a door |
| Doors 251 to 500 | $6 a door | $5 a door |
| Over 500 doors | Custom quote | Custom quote |
A lower rate covers only the extra doors, so a bigger client never pays less in total. How door count and service level move the price is in what apartment bookkeeping costs.
We keep the books.
Your manager or bookkeeper keeps the books. We match the rent roll to the bank, check their statements and send each building's numbers every month.
One door is one unit.
Monthly price
$1,000
works out to $10.00 per door
Monthly price $1,000. That works out to $10.00 per door.
| Doors and rate | Per month |
|---|---|
| Doors 1 to 100 at $10 each | $1,000 |
| Doors 101 to 250 at $8 each | $0 |
| Doors 251 to 500 at $6 each | $0 |
Add-ons for apartment buildings and HOAs
Paying the bills
$4 per bill, $150 a month minimum
We prepare every payment. You approve and release it.
Yearly budget
One month's fee, once a year
We build it from your books. The steps we follow are in how to prepare an HOA budget.
Lender or audit package
One month's fee per package
We prepare it. Your own CPA does any audit. What a lender asks for after closing is in the multifamily lender reporting package.
Cleanup of past months
One month's fee per month we catch up
If the books stopped when a manager left, start with the property manager handover checklist.
For HOAs, we keep reserve money apart from operating money at no extra charge.
Book a free callPrices are real and in US dollars. Every sample building and association on this page is invented data. More questions.
FAQ
Questions apartment owners and HOA boards ask
Who is this for?
Multifamily Bookkeeping is for apartment owners, operators with several buildings, and HOAs. Every client has 5 or more units. Syndications and 1 to 4 unit rentals are served elsewhere.
What does it cost?
Full books cost $10 a door for the first 100 doors, $8 for doors 101 to 250, and $6 for doors 251 to 500. Review only costs $7, $6 and $5. The minimum is $699 a month. Use the pricing calculator to see your monthly price.
What do I get each month?
We send each building its own numbers every month. You see which buildings are doing fine and which need a look.
My property manager already sends a statement. Why is that not enough?
A statement shows what the manager recorded. We check it against the bank and the rent roll, so you know whether it is right.
Do you do taxes?
No. We keep the books and hand your CPA a clean file at year end. Your CPA prepares the return and gives the tax advice.
Are the numbers on this page real?
The prices are. The sample buildings are not: the board, the building calculator and every building figure on this page use invented data. They are here to show what building-by-building numbers look like.
How do I start?
Book a free call. We look at how many buildings you have and how the books are kept today.
About us
Who we are
Multifamily Bookkeeping is run by two people who have been on both sides of the ledger.
Alsu Safina
CPA
Alsu Safina is a licensed California CPA and works in the business.
Get every building on the board.
A free call to go over your buildings and how the books are kept today.
Book a free call