What is a property bookkeeper and what are their duties?

A property bookkeeper is a professional who handles the cash flow and performs essential accounting functions for rental properties. They are responsible for record-keeping, budgeting, reporting, reconciling bank accounts, processing rent payments, and assisting with tax documents, among other duties. They often assist property accountants and are integral in the efficient financial management of properties.

What is the average salary of a property bookkeeper?

The salary of a property bookkeeper depends on several factors like education, location, and experience. For instance, the average annual salary for a property bookkeeper in the United States is approximately $47,726 USD. However, hiring a virtual property bookkeeper from a country like the Philippines, where the labor cost is lower, can be more cost-effective. The average salary for a virtual bookkeeper based in the Philippines is around $16,139 USD.

What are the benefits of hiring a virtual property bookkeeper versus a local one?

Hiring a virtual property bookkeeper can offer significant cost savings, as salaries in offshore locations are often lower than in countries like Australia, New Zealand, the United Kingdom, the United States, Canada, and Singapore. Additionally, virtual bookkeepers can bring specialist skills and industry familiarity. ShoreAgents, for instance, offers continuing education and a conducive working environment, aiding in the retention of virtual bookkeepers.

Where can I hire a property bookkeeper?

While hiring locally is an option, partnering with offshore staffing companies like ShoreAgents can be more efficient and cost-effective. They handle the recruitment process, offer a well-equipped workspace, provide necessary training, and have access to a vast network of qualified candidates, saving businesses considerable time and effort.

Functions of A Property Bookkeeper

Q: Can a property bookkeeper work virtually?

Yes, a property bookkeeper can work virtually. With the right systems and processes in place, a virtual bookkeeper can perform all essential tasks remotely. Companies like ShoreAgents provide necessary software tools and assistance in establishing clear policies and procedures for effective remote working.

Property bookkeepers are vital to the real estate industry, offering crucial financial support and guidance to property owners and managers. They perform diverse functions such as financial record keeping, budgeting, and reporting, ensuring efficient management of property finances.

Salaries for property bookkeepers vary based on factors like location, experience, and property portfolio complexity. In this article, we'll feature the salary comparison of hiring locally and virtually and the common duties of this role.

What is a Property Bookkeeper?

A property bookkeeper is responsible for handling cash flow and performing essential accounting functions for rental properties. They handle routine invoicing and bank reconciliations and assist the property accountant in preparing financial statements.

As a part of their day-to-day responsibilities, property bookkeepers maintain the financial records for property management companies. They collaborate closely with the property accountant to create and analyze financial records and ensure compliance with legal requirements.

ShoreAgents can assist you in hiring a virtual property bookkeeper. We can help you develop a comprehensive job description and advertise for the role. Afterward, we’ll recruit potential candidates for you to choose from. This can streamline the process of finding the ideal remote property bookkeeper for your property management needs.

What is the salary of a Property Bookkeeper?

Salaries depend upon several factors, including education, location, and experience. Hiring a virtual property bookkeeper can save you significant money. Specifically, if you hire those who work in a country with lower labor costs than your own.

A ShoreAgent property bookkeeper is based in the Philippines. Our Philippines-based staff offers cost-effective bookkeeping solutions compared to local accountants in many countries.

What is the average salary for a Property Bookkeeper?

The table below is a guide based on the annual average property bookkeeper salary. Consider that the salary amounts listed for most countries do not include additional costs. For instance, government charges, employer contributions, supplemental insurance, or the cost per employer for equipment.

The salaries listed for the Philippines, however, do include government charges, employee benefits, and ShoreAgents fees.

ShoreAgents’ virtual property bookkeepers in the Philippines are much more affordable. They often cost one-third to one-half of the price in other countries. In other words, you could hire two bookkeepers for the price of one and still have money left over.

The average salary of a Property Bookkeeper in Australia

AU

$68,250 AUD

$46,544 SGD

Local

PH

$22,074 SGD

based in the Philippines

Can a Property Bookkeeper work virtually?

Considering the cost savings of hiring a virtual property bookkeeper over a local one, yes, they certainly can. You just need to be sure you have the right systems and processes in place.

ShoreAgents can assist you in establishing clear policies and defining procedures.

At the same time, providing the necessary software tools to effectively manage your virtual bookkeeper’s daily tasks.

We offer coaching support to both you and the bookkeeper to ensure a successful working relationship. While each business is a little different, some tools you may need are:

An online rent portal
A cloud-based accounting software
Cloud-based communications tools
A well-defined job description
Buy-in from current staff
Clearly written financial procedures and processes

Hire a Property Bookkeeper Expert Now!

Local Property Bookkeeper Vs. Virtual Property Bookkeeper

The advantages of hiring a virtual bookkeeper vs. hiring a local property bookkeeper are clear and convincing.

Cost Savings

In most countries, hiring a local bookkeeper is significantly more expensive than hiring one offshore. The costs of hiring a virtual property bookkeeper are lower for two reasons:

Salaries in many offshore locations are lower than in Australia, New Zealand, the United Kingdom, the United States, Canada, and Singapore.
If you hire a local assistant, you’ll also need to furnish a desk and other equipment. This includes an ergonomically correct chair, a computer, and a phone or VOIP tool. You’ll also have to find an appropriate office for them to work.

If you hire a virtual bookkeeper in partnership with ShoreAgents, we’ll provide the necessary facilities and equipment. For instance, this includes a desk, chair, computer with dual monitors, and a webcam.

Specialist Skills

ShoreAgents has a strong network and can recruit highly qualified candidates with specialized skills. ShoreAgents is the only BPO provider managed daily by an experienced real estate agency owner. Not only will the candidates we present have accounting and bookkeeping experience, but they’ll also be familiar with the industry.

Their knowledge will continue to grow after you hire them. We provide ongoing education. We also provide an environment where they work with other property bookkeepers and learn best practices.

Ease

You’ll have to devote a significant amount of time if you want to hire a local property bookkeeper. Afterward, you’ll need to spend time equipping their workspace.

To simplify the hiring process with ShoreAgents, you can sign up and provide your company profile and requirements. Once you submit a work order, a ShoreAgents team member will clarify your needs and requirements for a virtual property bookkeeper.

We will then present a shortlist of candidates for you to interview. This will allow you to choose the best candidate suited for your company. ShoreAgents takes care of all advertising, background checks, and application screening, making the process hassle-free and efficient.

Cost Savings

In most countries, hiring a local bookkeeper is significantly more expensive than hiring one offshore. The costs of hiring a virtual property bookkeeper are lower for two reasons:

Salaries in many offshore locations are lower than in Australia, New Zealand, the United Kingdom, the United States, Canada, and Singapore.
If you hire a local assistant, you’ll also need to furnish a desk and other equipment. This includes an ergonomically correct chair, a computer, and a phone or VOIP tool. You’ll also have to find an appropriate office for them to work.

Specialist Skills

Their knowledge will continue to grow after you hire them. We provide ongoing education. We also provide an environment where they work with other property bookkeepers and learn best practices.

Ease

You’ll have to devote a significant amount of time if you want to hire a local property bookkeeper. Afterward, you’ll need to spend time equipping their workspace.

Retention

Bookkeepers remain engaged when they can work with others in similar professions. ShoreAgents provides the opportunity for them to work with others who are performing similar functions for other employers.

We also provide continuing education about the real estate industry. Because we understand real estate human resources issues, we know what’s required to retain employees.

By gaining team buy-in, establishing procedures, and being flexible, hiring a virtual property bookkeeper can provide numerous benefits.

If you like the concept of a virtual property bookkeeper, contact us. We assist in developing processes, gaining team buy-in, and acquiring the necessary tools. Through this, you can achieve a successful working relationship with your virtual bookkeeper.

Cost Savings

In most countries, hiring a local bookkeeper is significantly more expensive than hiring one offshore. The costs of hiring a virtual property bookkeeper are lower for two reasons:

Salaries in many offshore locations are lower than in Australia, New Zealand, the United Kingdom, the United States, Canada, and Singapore.
If you hire a local assistant, you’ll also need to furnish a desk and other equipment. This includes an ergonomically correct chair, a computer, and a phone or VOIP tool. You’ll also have to find an appropriate office for them to work.

Specialist Skills

Their knowledge will continue to grow after you hire them. We provide ongoing education. We also provide an environment where they work with other property bookkeepers and learn best practices.

Ease

You’ll have to devote a significant amount of time if you want to hire a local property bookkeeper. Afterward, you’ll need to spend time equipping their workspace.

Retention

We also provide continuing education about the real estate industry. Because we understand real estate human resources issues, we know what’s required to retain employees.

By gaining team buy-in, establishing procedures, and being flexible, hiring a virtual property bookkeeper can provide numerous benefits.

Cost Savings

In most countries, hiring a local bookkeeper is significantly more expensive than hiring one offshore. The costs of hiring a virtual property bookkeeper are lower for two reasons:

Salaries in many offshore locations are lower than in Australia, New Zealand, the United Kingdom, the United States, Canada, and Singapore.
If you hire a local assistant, you’ll also need to furnish a desk and other equipment. This includes an ergonomically correct chair, a computer, and a phone or VOIP tool. You’ll also have to find an appropriate office for them to work.

Specialist Skills

Their knowledge will continue to grow after you hire them. We provide ongoing education. We also provide an environment where they work with other property bookkeepers and learn best practices.

Ease

You’ll have to devote a significant amount of time if you want to hire a local property bookkeeper. Afterward, you’ll need to spend time equipping their workspace.

Retention

We also provide continuing education about the real estate industry. Because we understand real estate human resources issues, we know what’s required to retain employees.

By gaining team buy-in, establishing procedures, and being flexible, hiring a virtual property bookkeeper can provide numerous benefits.

Cost Savings

In most countries, hiring a local bookkeeper is significantly more expensive than hiring one offshore. The costs of hiring a virtual property bookkeeper are lower for two reasons:

Salaries in many offshore locations are lower than in Australia, New Zealand, the United Kingdom, the United States, Canada, and Singapore.
If you hire a local assistant, you’ll also need to furnish a desk and other equipment. This includes an ergonomically correct chair, a computer, and a phone or VOIP tool. You’ll also have to find an appropriate office for them to work.

Specialist Skills

Their knowledge will continue to grow after you hire them. We provide ongoing education. We also provide an environment where they work with other property bookkeepers and learn best practices.

Ease

You’ll have to devote a significant amount of time if you want to hire a local property bookkeeper. Afterward, you’ll need to spend time equipping their workspace.

Retention

We also provide continuing education about the real estate industry. Because we understand real estate human resources issues, we know what’s required to retain employees.

By gaining team buy-in, establishing procedures, and being flexible, hiring a virtual property bookkeeper can provide numerous benefits.

Cost Savings

In most countries, hiring a local bookkeeper is significantly more expensive than hiring one offshore. The costs of hiring a virtual property bookkeeper are lower for two reasons:

Salaries in many offshore locations are lower than in Australia, New Zealand, the United Kingdom, the United States, Canada, and Singapore.
If you hire a local assistant, you’ll also need to furnish a desk and other equipment. This includes an ergonomically correct chair, a computer, and a phone or VOIP tool. You’ll also have to find an appropriate office for them to work.

Specialist Skills

Their knowledge will continue to grow after you hire them. We provide ongoing education. We also provide an environment where they work with other property bookkeepers and learn best practices.

Ease

You’ll have to devote a significant amount of time if you want to hire a local property bookkeeper. Afterward, you’ll need to spend time equipping their workspace.

Cost Savings

In most countries, hiring a local bookkeeper is significantly more expensive than hiring one offshore. The costs of hiring a virtual property bookkeeper are lower for two reasons:

Salaries in many offshore locations are lower than in Australia, New Zealand, the United Kingdom, the United States, Canada, and Singapore.
If you hire a local assistant, you’ll also need to furnish a desk and other equipment. This includes an ergonomically correct chair, a computer, and a phone or VOIP tool. You’ll also have to find an appropriate office for them to work.

Specialist Skills

Their knowledge will continue to grow after you hire them. We provide ongoing education. We also provide an environment where they work with other property bookkeepers and learn best practices.

Ease

You’ll have to devote a significant amount of time if you want to hire a local property bookkeeper. Afterward, you’ll need to spend time equipping their workspace.

Retention

We also provide continuing education about the real estate industry. Because we understand real estate human resources issues, we know what’s required to retain employees.

By gaining team buy-in, establishing procedures, and being flexible, hiring a virtual property bookkeeper can provide numerous benefits.

Cost Savings

In most countries, hiring a local bookkeeper is significantly more expensive than hiring one offshore. The costs of hiring a virtual property bookkeeper are lower for two reasons:

Salaries in many offshore locations are lower than in Australia, New Zealand, the United Kingdom, the United States, Canada, and Singapore.
If you hire a local assistant, you’ll also need to furnish a desk and other equipment. This includes an ergonomically correct chair, a computer, and a phone or VOIP tool. You’ll also have to find an appropriate office for them to work.

Specialist Skills

Their knowledge will continue to grow after you hire them. We provide ongoing education. We also provide an environment where they work with other property bookkeepers and learn best practices.

Ease

You’ll have to devote a significant amount of time if you want to hire a local property bookkeeper. Afterward, you’ll need to spend time equipping their workspace.

Retention

We also provide continuing education about the real estate industry. Because we understand real estate human resources issues, we know what’s required to retain employees.

By gaining team buy-in, establishing procedures, and being flexible, hiring a virtual property bookkeeper can provide numerous benefits.

Cost Savings

In most countries, hiring a local bookkeeper is significantly more expensive than hiring one offshore. The costs of hiring a virtual property bookkeeper are lower for two reasons:

Salaries in many offshore locations are lower than in Australia, New Zealand, the United Kingdom, the United States, Canada, and Singapore.
If you hire a local assistant, you’ll also need to furnish a desk and other equipment. This includes an ergonomically correct chair, a computer, and a phone or VOIP tool. You’ll also have to find an appropriate office for them to work.

Specialist Skills

Their knowledge will continue to grow after you hire them. We provide ongoing education. We also provide an environment where they work with other property bookkeepers and learn best practices.

Ease

You’ll have to devote a significant amount of time if you want to hire a local property bookkeeper. Afterward, you’ll need to spend time equipping their workspace.

Retention

We also provide continuing education about the real estate industry. Because we understand real estate human resources issues, we know what’s required to retain employees.

By gaining team buy-in, establishing procedures, and being flexible, hiring a virtual property bookkeeper can provide numerous benefits.

Cost Savings

In most countries, hiring a local bookkeeper is significantly more expensive than hiring one offshore. The costs of hiring a virtual property bookkeeper are lower for two reasons:

Salaries in many offshore locations are lower than in Australia, New Zealand, the United Kingdom, the United States, Canada, and Singapore.
If you hire a local assistant, you’ll also need to furnish a desk and other equipment. This includes an ergonomically correct chair, a computer, and a phone or VOIP tool. You’ll also have to find an appropriate office for them to work.

Specialist Skills

Their knowledge will continue to grow after you hire them. We provide ongoing education. We also provide an environment where they work with other property bookkeepers and learn best practices.

Ease

You’ll have to devote a significant amount of time if you want to hire a local property bookkeeper. Afterward, you’ll need to spend time equipping their workspace.

Retention

We also provide continuing education about the real estate industry. Because we understand real estate human resources issues, we know what’s required to retain employees.

By gaining team buy-in, establishing procedures, and being flexible, hiring a virtual property bookkeeper can provide numerous benefits.

What are the duties of a Property Bookkeeper?

Property bookkeepers typically assist property accountants in the performance of their duties. The split of responsibilities can vary depending on the property management company and the skills of the workers in each role. Here’s a list of some of the more common tasks in rental property bookkeeping:

Record day-to-day financial transactions
Verify that transactions are recorded in the correct day book or ledger
Bring the books to the trial balance stage
Complete tax forms as instructed by the accountant
Enter data, maintain records, and create reports and financial statements
Process rent payments and pay invoices on the owner’s behalf
Act to recover rent from delinquent tenants
Assist in budget management
Reconcile bank accounts
Gather information for the auditors

Property bookkeepers need general business and accounting software knowledge, experience with maintaining ledgers, and an understanding of general financial principles. They are organized and have impeccable attention to detail.

They work well as part of a team and have good communication skills. Many have a bachelor’s degree in accounting, business administration, or finance.

Property Bookkeeper Role

A property bookkeeper can perform all the critical functions of their job remotely with the appropriate software and equipment setup.

We have categorized property bookkeeping duties. We marked those that can be done remotely with a tick and an X for in-person tasks. Tasks that involve a combination of virtual and in-person work are marked with both a tick and a cross.

Recording day-to-day financial transactions

Verifying that transactions are recorded in the correct ledger or book

Managing receivables, including collections

Working with the accountant on tax documents

Working with other team members on budget management

Processing rent payments and invoices on the owner’s behalf

Reconcile bank accounts

As you can see, a property bookkeeper can do the job virtually with just a little forethought. ShoreAgents can help you think through your processes so that you can reap the benefits of having a virtual property bookkeeper.

You can partner with ShoreAgents as we coach to help you find the perfect virtual bookkeeper at the right price.

Where to hire a Property Bookkeeper?

Your primary choice is to hire locally for this role. However, hiring locally is the most inefficient way to fill the position. Recruiting and hiring a property bookkeeper requires considerable time and effort.

All the time you spend on hiring is less time looking for other properties to manage. Just think about all the tasks involved in recruiting and hiring a bookkeeper:

Posting the job on job boards and social media and advertising the job locally
Culling through applications, many of which will be irrelevant, to find the most qualified bookkeepers for your company
Interviewing applicants
Conducting background checks
Finding desk space and equipping it
Negotiating and hiring the bookkeeper

Hiring at ShoreAgents in the Philippines

If that list seems overwhelming, you’re not alone. Hiring involves a lot of time-consuming details. Also, consider that finding a bookkeeper who also has real estate knowledge might be very difficult.

A better option is to partner with ShoreAgents.

We handle the recruitment process for property bookkeeper jobs, freeing up your time for other tasks. We provide the following services:

Helping you develop your job description
Recruiting a candidate through advertising and through our vast network
Culling through applications to provide you with candidates to interview
Providing a spacious, modern office where the property accountant works with others in similar roles for other companies.
Equipping the bookkeeper for success with a desk, computer, WebCam, and headphones
Sharing our knowledge of the real estate business through our founder and day-to-day director, Stephen Atcheler.
Training the bookkeeper in real estate, if they don’t already have real estate experience
A location in the Philippines. Outsourcing to the Philippines is a smart option because
The labor costs are lower in the Philippines. This means that you can hire at least two bookkeepers for the price of one local property bookkeeper.
The country offers a highly skilled and well-educated workforce of more than 45 million people.
Filipinos speak fluent English and are eager to work with foreign companies.
Filipino culture is similar to European-influenced cultures, such as Britain, Australia, New Zealand, the United States, and Canada.

Takeaway

Hiring a property bookkeeper is crucial for accurate financial management and providing valuable insights to property owners and property management companies.

By hiring a property bookkeeper, businesses can benefit from their expertise and efficiently manage their financial operations.

ShoreAgents is an offshore real estate staffing company that knows what is required to run a profitable property management business. We have a well-developed network of potential property bookkeeping applicants.

We’ve filled a lot of property bookkeeping jobs. We understand your hiring and retention needs and can save you time and money.

We are ShoreAgents, your real estate offshore staffing experts. We provide highly skilled and trained staff to support the entire real estate industry and every niche within it.

Functions of A Property Bookkeeper

What is a Property Bookkeeper?

What is the salary of a Property Bookkeeper?

What is the average salary for a Property Bookkeeper?

AU

PH

NZ

PH

GB

PH

USA

PH

CA

PH

SG

PH

Can a Property Bookkeeper work virtually?

Hire a Property Bookkeeper Expert Now!

Local Property Bookkeeper Vs. Virtual Property Bookkeeper

What are the duties of a Property Bookkeeper?

Property Bookkeeper Role

Where to hire a Property Bookkeeper?

Takeaway

Are you ready to get started and hire now?

ShoreAgents is a BPO company that specializes in providing virtual staff to the real estate industry. They work remotely from our office but are fully dedicated to serving your business needs.

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