3 Must-Haves for your Multifamily Accounting Platform

Accounting Platform Property Management

Few if any general partners, real estate investment trusts and property management companies (PMCs) will argue that the demands for financial reporting and transparency into operational metrics from internal and external stakeholders has weighed heavily on the back office accounting personnel.

Choosing an Accounting Platform

An enterprise resource planning (ERP) real estate accounting platform must be able to scale from the transactional side, as well as provide the necessary flexibility for internal staff to design, configure and deliver the required and ever-changing financial and regulatory reporting. The platform should also have the ability to manage the corporate accounting functions of the enterprise, which can be quite different from the property accounting functions.

Property Management Accounting

At minimum, your accounting platform should have best-in-class configurable dashboards; a robust, user-friendly, native financial report writer; and the ability to provide corporate and operational accounting without having to operate multiple accounting platforms.

Let’s review each of these requirements in more detail:

1. Configurable Financial Dashboards

Dashboards should be a part of the core accounting application or solution. Too often, dashboards are “aftermarket” software that must be licensed in addition to the accounting platform. Configurable dashboards deliver quality, real-time, online reporting with the ability to click through to the source transaction providing transparency into operational and financial data.

Accounting Platform Reporting

2. Robust Financial Reporting

Your core accounting application should have a native report writer that can access all financial and non-financial data. (If not, your accounting software might also look like it was designed way back in the 20th Century).

A financial reporting tool should be very intuitive and easy for staff to design (and easily redesign) and deploy reports electronically, including to the configurable dashboard. Using spreadsheets with data exported from your system should be an option, not a requirement.

3. Corporate vs Property Accounting

The accounting platform must be able to provide functionality to manage the corporate accounting in addition to property accounting. For example: the requirement by the general partner to invoice funds, properties and other entities for services or expense reimbursements resulting in non-tenant billings and accounts receivable on the corporate books and a corresponding accounts payable invoices on the entities’ books.

Your accounting platform should provide for these transactions automatically and not require manual inputs.

Accounting Property Management Multifamily

Property owners should find a dynamic real estate accounting platform that places the necessary tools in the hands of internal and external stakeholders who need them, and does so without layering on additional time and costs for software and deployment. Click here to learn more.


Alan James

SVP, Commercial & Investment Mgmt, RealPage, Inc.

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Alan James is a Senior Vice President with Real Page. Over the last three decades he has worked with many of the top fund and institutional managers in providing technology solutions to help achieve goals and objectives directed toward increasing shareholder value. Previously, Alan served in different consultative and sales capacities at Yardi Systems, Oracle Corporation, PeopleSoft and J.D. Edwards focusing on solutions for the large real estate owners, managers and REITS. Prior to beginning his career in real estate technology, he was the Vice President of Finance for a large Real Estate developer that worked very closely with Institutional owners in Joint Venture developments of commercial and residential real estate. Alan holds a BS degree from Portland State University in Accounting and Finance Law.

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