Bookkeeping for Rental Property Owners in Arizona

Rental owners usually know their rent roll but not their real return. Repairs, capital improvements, mortgage interest, property management fees and owner contributions get mixed together, especially once you own several properties or several LLCs.

We set up your books so each property has its own profit and loss, whether you have one rental house or a portfolio of long-term and short-term rentals spread across multiple entities.

What we handle for rental property owners

• A separate P&L for every property, using classes or separate company files for each LLC
• Reconciling property management statements to your bank deposits
• Separating repairs from capital improvements so depreciation is set up correctly
• Security deposits held as a liability, not income
• Mortgage payments split between principal, interest and escrow
• Short-term rental payouts from Airbnb and VRBO recorded at gross, with platform fees and cleaning broken out

Arizona tax notes

As of January 1, 2025, Arizona no longer allows city transaction privilege tax on long-term residential rentals (stays of 30 days or more), so most long-term landlords no longer file TPT. If you still charge tenants a rental tax line, that should have stopped.

Short-term rentals are different. Stays of less than 30 days are still subject to TPT, and cities such as Scottsdale and Tempe also require a city short-term rental license. Airbnb and VRBO collect and remit some of the tax for you, but not always all of it, so we reconcile what the platform paid against what you owe. Commercial rentals are also still taxable.

More than bookkeeping: insight you can use

We're more than a bookkeeper who keeps your books current. Every month we look at your numbers and tell you what they mean: where margins are slipping, which costs are creeping up, and practical ideas to make and save more money. Think of us as a light fractional CFO, at a bookkeeping price.

For rental property owners, that usually means:

• Cash-on-cash return and net operating income by property
• Which properties are carrying the portfolio and which are dragging it down
• Short-term occupancy and average nightly rate against your costs
• Capital expenditure planning so roofs and HVAC units aren't a surprise

What it costs

Monthly bookkeeping starts at $250 per month. Most of our clients pay around $500 per month, depending on how many accounts we reconcile and how many transactions you have. Book a quick call and we'll give you an exact quote.

Frequently asked questions

I own properties in different LLCs. Can you keep them separate?

Yes. We can keep a separate QuickBooks file for each LLC or use classes in one file, depending on what your CPA prefers for your tax returns.

Do I still owe TPT on my long-term rental?

For residential stays of 30 days or more, Arizona eliminated the city rental tax starting January 1, 2025. Short-term rentals and commercial rentals are still taxable.

Can you work with my property manager's statements?

Yes. We reconcile your property manager's monthly owner statements to your deposits so rents, fees and repairs are recorded correctly.

Services for your business

We work with rental property owners across Arizona, including Gilbert, Mesa, Chandler, Queen Creek, Phoenix and Scottsdale. See all service areas.