SUPPORTING YOUR MISSION

Accounting, Tax & CFO Services for Property Management Companies

From trust-account compliance to owner statements, we handle the recurring accounting behind every door you manage.

Serving Seattle-area property managers since 1971 - Licensed WA CPAs

Schedule a Consultation

Accounting Built Around How Property Managers Actually Operate

Greenwood Ohlund provides property management accounting for residential, commercial, and HOA portfolios across the Seattle area. Every dollar that comes in belongs to either your management company or one of your owners, and those two pools can’t mix. Owner statements go out monthly, rent and expenses track across dozens or hundreds of units at once, and 1099s pile up at scale when you’re paying vendors and disbursing to owners across an entire portfolio.

We also handle the trust-account reconciliation, portfolio-level reporting, and recurring monthly bookkeeping that keeps every owner’s numbers accurate, along with the tax planning that keeps your management company’s numbers strong too.

Property manager reviewing financial reports and a tablet at a desk

OUR CLIENTS

CCH_logo_color_400px_white
PCCC Logo MASTER_10312022
geekwire-logo
logo_big_white-font_1 - Banya
food-lifeline
1kuma-logo-pennant
ETON_PRIMARY_CMYK2
Ballard-Food-Bank
AdaptX_logo_website
friendsofyouth
Untitled (3)
Loma logo
Buff
Logo 2

The Challenges Property Management Companies Face and How We Help

We reconcile your trust bank statement, trust ledger, and every owner’s sub-ledger against each other monthly, the way WA’s designated-broker rules require, so a discrepancy gets caught before it becomes a licensing problem.

We generate accurate owner statements and disbursements on a consistent monthly cycle, whether you’re managing ten doors or a thousand.

We track income and expenses at the property level and roll them up to the portfolio level, so you can see performance property by property or across your whole book of business.

We manage 1099 reporting at scale, tracking who needs a 1099-NEC, a 1099-MISC, or nothing at all, so nothing gets missed when volume is high.

WHAT WE DO

How We Support Property Management Companies

Tax Services

Management-company and owner-entity tax planning, handled by people who know the difference between your fee income and the funds passing through you.

Audit & Assurance

Trust-account and owner-reporting assurance that gives owners and lenders confidence in your numbers.

Accounting & CFO Services

Recurring bookkeeping, owner statements, and a fractional CFO who understands portfolio-level performance, not just monthly close.

What Makes Property Management Companies Accounting Different

Washington treats most property management as regulated real estate brokerage activity, not just a service business. Trust funds have to hit your trust account by the next banking day, and your designated broker has to reconcile the trust bank statement, the trust ledger, and every owner’s sub-ledger against each other monthly. A shortage isn’t just a bookkeeping error, it’s a licensing problem.

Management fees are taxed under Washington’s Service and Other Activities B&O classification at 1.5%, separate from your trust obligations entirely. If your staff performs maintenance, repair, or landscaping work billed back to owners, that portion can shift to retailing B&O and sales tax instead, a distinction that trips up property managers who assume all their income is taxed the same way. We also handle CAM reconciliations for commercial portfolios, 1099 reporting for owners and vendors, and keeping your management-company income entirely separate from the funds you hold for clients.

Organized financial ledgers and rental property statements for trust accounting compliance

We serve businesses like yours

Businesses Like Yours

We work with a wide range of property management companies, including:

nonprofit accounting services
nonprofit accounting services

Residential property managers

nonprofit accounting services
nonprofit accounting services

Commercial property managers

nonprofit accounting services
nonprofit accounting services

Mixed-portfolio managers

nonprofit accounting services
nonprofit accounting services

HOA and community-association managers

nonprofit accounting services
nonprofit accounting services

Short-term-rental managers

nonprofit accounting services
nonprofit accounting services

Third-party fee managers

Why Property Management Companies Choose Greenwood Ohlund

We provide the accounting, tax, and CFO support property management companies need to manage trust compliance, owner reporting, and cash flow, without adding unnecessary complexity to how you run your business.

Decades in construction and real estate accounting

We’ve been doing this since 1971.

Tax, audit, accounting, and CFO expertise, one firm

Most firms our size don’t offer all four under one roof. You get a tax team, an audit team, and a CFO-level advisory team who already talk to each other, instead of coordinating three separate vendors yourself.

Seattle-rooted, with clients across Washington and beyond

We’re based in Seattle and built around the Pacific Northwest, with clients in other states when the relationship calls for it.

A relationship that runs all year, not just tax season

We’re recognized as a Peak Firm and a PSBJ Washington’s Best Workplaces honoree, and that same culture shows up in how we work with clients: regular conversations and actual availability, not a firm you hear from once a year.

EXPERIENCE THE GO DIFFERENCE

Your Property Management Companies Team

Matt Smith

AUDIT & ASSURANCE

Matt Smith, CPA

Partner

Linkedin-in

TAX SERVICES

Paul Jandl

Senior

Linkedin-in

TAX SERVICES

Eric Kimpton

Senior Manager

Linkedin-in

TAX SERVICES

Riley Stringer

Manager

Linkedin-in

TAX SERVICES

Michaela Thomassen

Senior

Linkedin-in
Jason Mallon, CPA

CFO & ACCOUNTING SERVICES

Jason Mallon, CPA

Partner

Linkedin-in
Andrew Van Ness

AUDIT & ASSURANCE

Andrew Van Ness, CPA

Partner

Linkedin-in
Brian

CFO & ACCOUNTING SERVICES

Brian Vinciguerra

Partner

Linkedin-in
MEET THE TEAM
RECENT NEWS

Latest Updates and Insights from Greenwood Ohlund

CFO presenting financial information at a board meeting

Why Your CFO Should Attend Board Meetings

September 1, 2026

Better Financial Oversight, Transparency, and Governance Should the CFO Attend Board Meetings? In most organizations, yes, the CFO or senior financial leader should regularly participate in Board meetings, particularly when financial performance, budgets, forecasts, cash flow, organizational risk, or long-term strategy are being discussed. The reason goes well beyond presenting financial statements. Having the CFO at the Board table creates

Read More »

Switching Banks? What Small and Medium-Sized Organizations Should Consider

August 4, 2026

Changing banks can create meaningful benefits for a small or medium-sized organization. A new banking relationship may offer better technology, improved customer service, lower fees, stronger fraud controls, greater borrowing capacity, or products that better support the organization’s growth. However, switching banks is rarely as simple as opening a new account and transferring the cash. Bank accounts are often connected

Read More »
IRS Form 990 transparency changes affecting nonprofit fiscal sponsorship reporting

The Form 990 Rarely Changes – So Why Is Everyone Talking About Fiscal Sponsorships?

July 29, 2026

Key Takeaway: While no new Form 990 reporting requirements have been proposed, recent statements from the U.S. Department of the Treasury suggest the IRS is taking a closer look at how nonprofits receive and manage funding. Now is a good time to review your gift acceptance procedures—particularly for fiscal sponsorships—to ensure your organization is well positioned if future reporting or

Read More »
Recent News

Latest Updates and Insights from Greenwood Ohlund

University Child Development School

Client Spotlight Q&A: University Child Development School

May 12, 2026

When did GO start working with UCDS, and how has this partnership evolved over the years?
 GO has proudly partnered with UCDS since 2022 to support the school’s financial stewardship and long-term sustainability. Over time, that partnership has evolved alongside the school’s growth and continued focus on innovative education, strong governance, and mission-driven planning. In what ways does the GO

Read More »
Ballard Food Bank

Client Spotlight Q&A: Ballard Food Bank

April 2, 2026

Ballard Food Bank When did GO start working with Ballard Food Bank, and how has this partnership evolved over the years? GO has proudly partnered with Ballard Food Bank since 2010, beginning with onsite monthly accounting support. In 2020, our relationship evolved to providing their annual audit and Form 990 preparation. In what ways does the GO Team support the

Read More »
FAQ

Property Management Companies Accounting FAQs

Trust account accounting keeps client and tenant funds, like rent and security deposits, separate from your company’s operating money, tracked in a dedicated trust account. Washington requires it for licensed property managers. We set up and maintain that separation for you.

Owner funds stay in your trust account until they’re disbursed or your management fee is earned and withdrawn, never mixed with your operating account. We structure your accounting so that separation holds up to a licensing audit.

A complete owner statement shows rent collected, expenses paid, your management fee, and the net amount disbursed, for that property specifically. We build owner statements that give your clients a clear, accurate picture every month.

Yes, if you’re a licensed real estate firm in Washington. Your designated broker has to reconcile the trust bank statement, the trust ledger, and every client’s sub-ledger against each other monthly. We handle that reconciliation as part of your regular accounting.

Owners and vendors generally need a 1099 for reportable payments over the IRS threshold, tracked separately since owners and vendors are taxed differently. As a property management bookkeeping partner, we manage that tracking and filing at scale.

It depends on portfolio size and complexity. Rather than quote a number that won’t fit every firm, we start with a conversation about your portfolio and reporting needs, then build a proposal around what you need.

CONTACT US

Let's Strengthen the Accounting Behind Your Portfolio

Trust account reconciliation, owner statements, or 1099s at scale — we can take it from here. Reach out and we’ll start with a conversation about what your portfolio needs.

Greenwood Ohlund, PS
4241 21st Ave W, Suite 400, Seattle, WA 98199
(206) 782-1767