Manage Your Properties with Ease with the Help of a CPA for Real Estate Management
You need the help of a CPA for real estate management if you own and manage property. Without one, you’re most definitely working harder than you should be, and you’re probably losing money in the process. The more properties you own, the more potential you have to make money, and the more you need the help of a professional accountant.
A professional CPA that has experience working with real estate managers and property management companies can provide you with a wide variety of services, becoming a valuable member of your team. By enlisting the help of a licensed CPA, you can ensure that your real estate business continues to grow and thrive in the future.
Services that can be personalized based on your unique needs
It’s all about saving you money and saving you time when you hire a CPA for real estate management. There are many services a professional accountant can offer that will help you do both like:
- Finding and leveraging tax advantages, and helping you file your taxes
- Identifying changes in the tax code that could affect your business
- Performing audits and other valuations of various areas of your business
- Reviewing lease agreements and negotiations
- And more
Your bottom line is of the utmost importance to a CPA, but there are so many other ways an accountant can help you with your real estate business. One of the most invaluable services they can provide is organizational in nature. They can help you select and learn an electronic recordkeeping system so you can stay on top of all the most important aspects of your business, helping you find the information you need quickly and easily.
Accountants that pay attention to the details
There are many things to consider when hiring a CPA for real estate management. You obviously want to find an accountant who is fully licensed and experienced in the area of public accounting, in addition to having experience working with property owners. However, you should also be looking for an accountant who pays attention to the details.
Overlooking a single tax-saving opportunity or detail on a lease agreement can have devastating consequences. An experienced and dedicated CPA will take the time to comb through all the details, leaving no stone unturned, ultimately eliminating nasty surprises that can ruin your property management business.
Build a brighter future by hiring the right CPA for the job
Building, buying, and managing property is no easy feat, so it definitely isn’t something you should do alone, but the quality of the team you hire to help is extremely important. After all, you wouldn’t hire an inexperienced builder to design and construct a new property! You should take the same care in choosing a CPA.
You need an accountant who can help you build a brighter financial future for you and your business. If you’re looking for a professional CPA for real estate management with the right experience, give us a call and we’ll put our nearly 50 years of experience to work for you.
CPA for real estate management FAQ
What’s the general background I should be looking for in a CPA for real estate management?
All CPAs are not created equal, so it’s important to determine a few general facts about the CPA or firm you might be interested in hiring.
Here are a few questions you might want to ask:
- Have you worked with real estate managers before?
- Do you specialize in any kind of niche business accounting?
- Have you worked with any clients that have a similar structure to my business?
- How many years of experience do you have?
- What certifications do you have?
You may also want to discuss fees and service schedules. Are you able to call any time you have a question, or should you wait until your next meeting?
Is there anything I have to do if I hire a CPA to help with my real estate business?
It’s tempting to sit back, put your feet up, and relax when you hire an accountant to help you with your finances. However, there will still be at least a little bit of work that you need to do.
When it comes to taxes, providing the right financial information from the preceding year is a must. You’ll also have to have specific information about each of your properties, and sharing your goals for the future is essential too. That way your accountant can help you find ways to expand or maintain your business.
The key is to listen to your accountant. If they’re missing any information, or if they have a question, they will ask. Be willing to provide them with the information and materials they need, when they need them.
Exactly what can I expect when working with a CPA for real estate management?
This question is extremely hard to answer, because you may have different expectations depending on your particular needs and what CPA you end up working with.
Instead of going into your partnership with certain expectations and having them dashed, ask a few questions that will help you establish the right expectations.
A few questions you can ask to clarify expectations include:
- Do you work alone or with a team?
- If we work together, will I have to sign a contract? Can I have a copy before I sign it?
- How much time are you able to dedicate to my business?
- What forms of payment do you take? How often are payments processed?