Know what every property actually earns
Airbnb, VRBO and long-term rentals in Pinellas, Hillsborough and Pasco, with income and expenses kept property by property, so your portfolio adds up and you can see which ones are pulling their weight.
A portfolio only makes sense one property at a time
When the rent from three properties lands in one account and the bills come out of the same one, the total can look fine while one property quietly loses money every month. The beach condo that books solid all summer can be covering for the duplex with the roof leak and the tenant who pays late.
Your books should answer the questions you actually ask: which property earns the most after every expense, which one is costing you, and what the whole portfolio made this year.
| Example | Income | Expenses | Net |
|---|---|---|---|
| Beach condo (Airbnb) | $4,900 | $2,650 | $2,250 |
| Duplex (long-term) | $3,100 | $3,420 | −$320 |
| Single-family (long-term) | $2,400 | $1,580 | $820 |
| Portfolio | $10,400 | $7,650 | $2,750 |
Every expense goes to the property it belongs to
Coded as it happens, not sorted out in March, so each property has its own profit and loss and your CPA gets clean numbers for every one.
- Mortgage interest
- Property tax
- Insurance: DP-3 landlord, wind and flood
- HOA and condo fees
- Repairs and maintenance
- Property management fees
- Cleaning and turnover
- Utilities, internet and streaming
- Airbnb and VRBO fees
- Supplies and furnishings
Short-term rentals: Airbnb and VRBO
Payouts arrive as one deposit with fees already taken out and taxes handled for some bookings and not others. Each payout is matched back to its bookings, so income, platform fees and cleaning fees land on the right property.
In Florida, a rental of six months or less carries state sales tax and the county tourist development tax. Airbnb collects and pays those for bookings made through Airbnb in Pinellas, Hillsborough and Pasco. Bookings you take directly are yours to collect. Your books keep the two apart so nothing is paid twice or missed.
Long-term rentals
Rent, deposits and the costs of owning a building: the mortgage, property tax, a DP-3 landlord policy, wind and flood coverage, HOA dues and repairs. Security deposits are kept separate from rent, because they are not income until they are kept.
With a property manager, their monthly statement is reconciled against what actually reached your account, fees included.
Questions I get asked
I only have one rental. Is this worth it?
Often yes, especially if it is an Airbnb, where payouts, fees and taxes get tangled quickly. The quote is based on how much is going on, so one property costs less than five.
Can you keep my rentals separate from my other business?
Yes. Rentals can sit in their own set of books, or as their own properties inside one file, whichever your CPA prefers.
Are you a CPA?
No. I am a QuickBooks Online Certified ProAdvisor. I keep the books by property so your CPA can prepare your return from them. Questions about depreciation or how a property is taxed go to your CPA, and I work alongside them.
Get a flat-fee quote
Send your books, or just last month's bank statement, and tell me how many properties you have. You get one flat monthly fee.