Real Estate Accounting in Edgewood, KY
For rental property owners, landlords, and superintendents, the time and effort involved in running your property is more like managing a small business than simply owning assets. At Hannegan & Associates, we provide property owners and landlords throughout Edgewood and the neighboring communities with comprehensive accounting services for your real estate business.
Keeping books orderly when trying to balance the needs of one or more tenants can be intimidating. Hannegan & Associates offers real estate clients bookkeeping services to ensure that expenses related to your rental properties, as well as the income from rent payments, are regularly and accurately recorded. We are available to receive rent payment directly and perform regular bank reconciliation services, keeping you up-to-date on the status of your tenants’ accounts.
Cash Flow Analysis and Reporting
Our Edgewood accounting professionals help you determine whether your real estate business is losing money, and if so, whether that loss is due to over expenditure or other internal control issues. Spending too much money while fixing up properties can quickly reduce liquid capital. Lack of cash flow analysis can lead to reduced profitability through excess spending and investments in non-depreciable assets. Owning multiple rental properties at once can make cash flow management exponentially more difficult as you attempt to juggle taxes, utilities, repairs, rent payments, and more.
The services we offer to pinpoint expenditures and overhead that decreases your properties’ profitability, and compiles this information into detailed reports. Should you have experienced a decrease in profit from the increase of a property’s electric bills or the cost of sewage, we can help you identify and resolve these issue to improve your real estate business overall earnings.
Proactive Tax Planning
With the continual changes in tax laws from the federal to the local levels, many real estate business owners find it difficult to keep up with what expenses remain depreciable from year to year. At Hannegan & Associates, we keep up-to-date with the changes in real estate tax liability to help clients plan their business expenses accordingly. With the help of our experienced real estate accountants, clients are educated on best practices to limit liability while staying in compliance this year and in the future.
Contact Hannegan & Associates Today
Whether you are a landlord looking to decrease liability through investment into depreciable assets, or are in need of outsourced bookkeeping to keep accounts associated with various properties organized, contact Hannegan & Associates today. We provide real estate accounting services throughout Edgewood, Erlanger, Florence, and Fort Wright.