Accounting plays an important role in every business, but in real estate, it’s particularly important. Accurate accounting enables real estate investors to accurately track the performance of their portfolio and focus on profitability. In an environment where property values are constantly in flux, tax rates change, and interest rates vary, having this certainty is vital to success.

Effectively managing a property portfolio and maximizing its value requires investors to have access to accounting services throughout the year, not just during tax season. For many real estate investors, outsourced accounting services provide the critical information required to keep your financial statements up-to-date. Only with accurate financial data can you make informed decisions that enable you to grow your portfolio over time.

While you might appreciate the importance of accounting, it’s an area of your real estate business that can be easy to overlook. Unless you’re an accountant yourself, it’s unlikely that tasks like reconciling your bank accounts or producing balance sheets get you excited.

Instead of trying to squeeze one more task into their already packed schedule, many investors are embracing the value of outsourced accounting services. But what is outsourced accounting, and how do the services it provides differ from traditional bookkeeping? Let’s dive deeper and explore what accounting services can do for your real estate business.