Outsourced Property Accounting

[Daniel Reyes]

Hello BiggerPockets Family,

Whether you are a smaller (or larger) property management company, a self-managing multifamily developer, or a sponsor/syndicator - Property Accounting can oftentimes become a significant cost and consumer of otherwise revenue-generating time.

My question is, how do you feel and what do you think about outsourcing your property accounting? Would you consider doing this? Why or why not? Are you looking for a bookkeeping service (vendor) or a financial ops expert (advisor)?

Please share your thoughts; I have my own position on this but I’m interested in hearing everyone’s position.

Thank you for engaging with me!

Daniel Reyes

[Simon W.]

Well, it is a bit biased since I own my own accounting firm, but outsourcing is the future. Ideally, investors should delegate work and focus on what they are good at, which is investing, not dealing with tedious work. If investors spend countless hours asking accountants on BP on how to code things and where to put things in the financials, then that just tells me they aren't focusing on getting more deals.