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Property Bookkeeper

What is a Property Bookkeeper?

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A Property Bookkeeper is responsible for handling cash and performing basic 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 by developing a comprehensive job description, advertising for the role, and recruiting potential candidates for you to choose from. This can streamline the process of finding the ideal Virtual Property Bookkeeper for your property management needs.
A Property Bookkeeper is responsible for handling cash and performing basic 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 by developing a comprehensive job description, advertising for the role, and recruiting potential candidates for you to choose from. This can streamline the process of finding the ideal Virtual Property Bookkeeper for your property management needs.
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What is the salary of a Property Bookkeeper?

Salaries depend upon several factors, including education, location, and experience. Hiring a virtual property bookkeeper who works in a country with lower labor costs than your own can save you significant money.
A ShoreAgent property bookkeeper is based in the Philippines. Our Philippines base ensures that you can hire a talented bookkeeper for a fraction of the price of a local accountant 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 such as 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.
As you can see, the cost of a ShoreAgents virtual property bookkeeper in the Philippines is one-third to one-half of what you’d pay in most 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
Australia Flag

AU

$68,250 AUD
Local
Philippines Flag

PH

$23,956 AUD
based in the Philippines
The average salary of a Property Bookkeeper in New Zealand
New Zealand Flag

NZ

$57,240 NZD
Local
Philippines Flag

PH

$25,958 NZD
based in the Philippines
The average salary of a Property Bookkeeper in United Kingdom
United Kingdom Flag

GB

£27,721 GBP
Local
Philippines Flag

PH

£13,402 GBP
based in the Philippines
The average salary of a Property Bookkeeper in United States of America
USA Flag

USA

$47,726 USD
Local
Philippines Flag

PH

$16,139 USD
based in the Philippines
The average salary of a Property Bookkeeper in Canada
Canada Flag

CA

$59,625 CAD
Local
Philippines Flag

PH

$21,307 CAD
based in the Philippines
The average salary of a Property Bookkeeper in Singapore

SG

$46,544 SGD
Local
Philippines Flag

PH

$22,074 SGD
based in the Philippines

Can a Property Bookkeeper work virtually?

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Now that you see how much you could save by hiring a virtual property bookkeeper instead of hiring one locally, you’re probably asking, can bookkeeping for rental properties be done virtually?
The answer is: Yes. You just need to be sure you have the right systems and processes in place. ShoreAgents can help ensure you have clear policies, defined policies, and the right software tools to manage the daily work of your virtual bookkeeper. We’ll work with you, providing coaching support to you and the bookkeeper to ensure the relationship works for both of you.
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

Local Property Bookkeeper Vs. Virtual Property Bookkeeper

The advantages of hiring a virtual bookkeeper vs. hiring a local property bookkeeper are clear and convincing.
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, ergonomically correct chair, a computer, and a phone or VOIP tool. You’ll also have to find a place for them to work. If you hire a virtual bookkeeper in partnership with ShoreAgents, we’ll provide the necessary facilities and equipment, such as a desk, chair, a computer with two monitors, and a Webcam.
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 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.
You’ll have to devote a significant amount of time if you want to hire a local property bookkeeper. Then, you’ll need to spend time equipping their workspace.
ShoreAgents makes the hiring process easy.
1. You sign up.
2. You complete your company profile, which gives us information about your business and needs.
3. You submit a work order for your virtual property bookkeeper.
4. A ShoreAgents team member calls you to be sure we understand exactly what you’re looking for.
5. We present a small number of candidates for you to interview.
6. You choose the one most suited to your company.
We do all the advertising and background checks for you. And we cull through all those applications to find those most relevant to your needs.
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.
As long as you gain team buy-in, establish your procedures, and are willing to be a little flexible, you can gain many benefits by hiring a virtual property bookkeeper.
So, it’s up to you.
If you like the concept of a virtual property bookkeeper, contact us. We can help you develop the processes, gain team buy-in, and acquire the tools you need to have a successful working relationship with your virtual bookkeeper.

What are the duties of a Property Bookkeeper?

Virtual Assistant Doing Tasks and Responsibilities
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.
On the list of major property bookkeeping duties, we’ve identified those that can be done remotely by putting a tick next to each one. We’ve put an N next to those that must be done in person. If a duty can be partially completed virtually but requires some in-person action, we’ve put both a tick and cross next to it.
Recording day-to-day financial transactions check circle
Verifying that transactions are recorded in the correct ledger or book check circle
Managing receivables, including collections check circlecancel circle
Working with the accountant on tax documents check circle
Working with other team members on budget management check circle
Processing rent payments and invoices on the owner’s behalf check circle
Reconcile bank accounts check circle
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. ShoreAgents can also partner with you, providing advice and coaching to help you find the perfect virtual bookkeeper at the right price.

Where to hire a Property Bookkeeper?

Bookkeeper Working Report
One choice is to hire locally. 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. And, odds are, you don’t really enjoy hiring. 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
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.

Hiring at ShoreAgents in the Philippines

A better option is to partner with ShoreAgents. We spend the time necessary to recruit finalists for property bookkeeper jobs so that you can spend your time on 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, meaning 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 work hard and are willing to work at unusual hours to sync with foreign employers.
    • Filipinos speak fluent English and are eager to work with companies in Australia, New Zealand, the US, the UK, Canada, and Singapore.
    • Filipino culture is similar to European-influenced cultures, such as Britain, Australia, New Zealand, the United States, and Canada.
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, trained staff to support the entire real estate industry and every niche within it.

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Assistant Property Manager
Transaction Coordinator
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USD
Standard
$697
$976
€633
₱37,500
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₱34,000
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$520
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₱28,000
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€439
₱26,000
assistant-property-manager
Assistant Property Manager
$8.37
Assistant Property Manager
$25.20
Assistant Property Manager
$11.72
Assistant Property Manager
$35.29
Assistant Property Manager
€7.61
Assistant Property Manager
€22.90
Assistant Property Manager
₱450.39
Assistant Property Manager
₱1,356.00
Assistant Property Manager
8.37
25.20
Assistant Property Manager
11.72
35.29
Assistant Property Manager
7.61
22.90
Assistant Property Manager
450.39
1,356.00
Assistant Property Manager

transaction-coordinator
Transaction Coordinator
$10.31
Transaction Coordinator
$29.52
Transaction Coordinator
$14.44
Transaction Coordinator
$41.34
Transaction Coordinator
€9.37
Transaction Coordinator
€26.82
Transaction Coordinator
₱554.78
Transaction Coordinator
₱1,588.46
Transaction Coordinator
10.31
29.52
Transaction Coordinator
14.44
41.34
Transaction Coordinator
9.37
26.82
Transaction Coordinator
554.78
1,588.46
Transaction Coordinator

property-accountant
Property Accountant
$9.68
Property Accountant
$35.97
Property Accountant
$13.55
Property Accountant
$50.37
Property Accountant
€8.80
Property Accountant
€32.69
Property Accountant
₱520.88
Property Accountant
₱1,935.53
Property Accountant
9.68
35.97
Property Accountant
13.55
50.37
Property Accountant
8.80
32.69
Property Accountant
520.88
1,935.53
Property Accountant

real-estate-sales-assistant
Real Estate Sales Assistant
$7.08
Real Estate Sales Assistant
$29.56
Real Estate Sales Assistant
$9.91
Real Estate Sales Assistant
$41.39
Real Estate Sales Assistant
€6.43
Real Estate Sales Assistant
€26.86
Real Estate Sales Assistant
₱380.97
Real Estate Sales Assistant
₱1,590.61
Real Estate Sales Assistant
7.08
29.56
Real Estate Sales Assistant
9.91
41.39
Real Estate Sales Assistant
6.43
26.86
Real Estate Sales Assistant
380.97
1,590.61
Real Estate Sales Assistant

assistant-development-manager
Assistant Development Manager
$9.62
Assistant Development Manager
$34.19
Assistant Development Manager
$13.47
Assistant Development Manager
$47.87
Assistant Development Manager
€8.74
Assistant Development Manager
€31.07
Assistant Development Manager
₱517.65
Assistant Development Manager
₱1,839.75
Assistant Development Manager
9.62
34.19
Assistant Development Manager
13.47
47.87
Assistant Development Manager
8.74
31.07
Assistant Development Manager
517.65
1,839.75
Assistant Development Manager

Membership Fee

$

Membership: Standard

Approximate Saving

Monthly

$

Yearly

$

Diff/Hour

$

Weekly

$

Assistant Property Manager

Our Monthly Rate

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US Monthly Rate

$

Our Yearly Rate

$

US Yearly Rate

$

Approximate Saving Percentage

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*Based on real-time exchange rates