Accounting That Knows the Difference Between a Property and a Portfolio
Real estate finances live or die on the details — per-property profitability, depreciation schedules, escrow and security deposits, investor splits. Fairlight keeps the books straight at the property level and the strategy sharp at the portfolio level.
✓ Per-property reporting ✓ Real estate tax strategy ✓ Fixed monthly fees
Built for Real Estate
Real Estate Businesses We Work With
Rental property investors
from a single duplex to a multi-state portfolio, with books that show what each door actually earns.
Property management companies
owner statements, trust accounting discipline, and payroll for on-site staff.
Short-term rental operators
Airbnb and VRBO accounting, platform payout reconciliation, and Florida tourist development tax compliance.
Real estate developers and flippers
project-level job costing, capitalized versus expensed costs, and cash flow that survives the build.
Brokerages and agents
commission tracking, agent payouts, and the S-Corp strategy questions every high-earning agent eventually asks.
Foreign owners of U.S. property
including Canadian investors in Florida real estate, where FIRPTA, Form 5472, and cross-border structuring change everything.
Cross-border ownership →Where Real Estate Books Break Down
Everything in one bucket
properties pooled into a single P&L, so you can't see which doors make money and which quietly bleed
Depreciation left on autopilot
missed cost segregation opportunities and schedules that don't survive a sale
Security deposits and escrow mixed with operating cash
a compliance problem and a clarity problem at once
Capital improvements expensed (or repairs capitalized)
misclassification that distorts both your taxes and your property values
Investor and partner reporting
K-1s, distributions, and capital accounts that get messier every year they're not maintained
Sale-year surprises
depreciation recapture and capital gains that nobody planned for until the closing happened
What Fairlight Does for Real Estate
Property-level bookkeeping
income and expenses tracked by property (and unit where it matters), so every door has its own P&L
Rental tax strategy
depreciation done right, repair vs. improvement decisions documented, passive activity rules navigated, and 1031 exchange planning before you sell, not after
Entity and structure guidance
LLCs, partnerships, and how your holdings should be organized as the portfolio grows
Investor and partnership accounting
clean capital accounts, distribution tracking, and K-1 preparation your partners won't have to question
Short-term rental compliance
county tourist development taxes, state sales tax on transient rentals, and platform income reconciled to the bank
Cross-border ownership
FIRPTA withholding, Form 5472 for foreign-owned LLCs, and treaty coordination for Canadian owners of Florida property
The Full Stack, One Firm
Real Estate Bookkeeping
per-property books, closed monthly on a guaranteed date
Learn more →Real Estate Tax
depreciation, 1031s, entity strategy, investor K-1s
Learn more →Real Estate CFO Advisory
deal analysis, portfolio cash flow, financing prep
Learn more →Cross-Border Ownership
Canadian and foreign owners of U.S. property
Learn more →How Real Estate businesses typically work with us
Untangling a pooled portfolio
every property in one P&L, so you can't see which doors earn.
rebuild the books property by property with a portfolio roll-up.
Planning before a sale
an appreciated property about to be listed.
map depreciation recapture and a 1031 exchange before closing, not after.
A Canadian buying Florida property
foreign ownership through a U.S. LLC.
handle FIRPTA, Form 5472, and treaty coordination across both sides.
Representative situations, not specific clients — details are generalized.
Engagement paths
Start with the return
Begin with a clean, correctly filed return — no monthly commitment to start.
Monthly books + tax
Keep the books clean every month, then add tax and advisory on one bill as you grow.
See the plans →Fractional CFO
Forecasts, the numbers that matter, and a finance partner for the big calls.
See CFO advisory →Not sure which? A short call sorts it — we'll tell you the one thing worth doing first.
What you can count on
- Every door measured — income and expenses tracked per property, so cross-subsidies stop hiding and you always know what each property actually earns.
- Clear scope and pricing — every price quoted before any work begins, never an hourly surprise.
- One firm, the whole picture — books, tax, payroll, and advisory under one roof, so nothing gets re-explained to a new vendor at the worst moment.
Who you work with
Fairlight's founder spent 15+ years in senior finance leadership, including project finance — we think about your real estate the way an institution would.
The team holds CPA credentials in both the United States and Canada, so your books, your return, and the bigger decisions are handled under one roof — and cross-border situations get both countries in-house.
Frequently Asked Questions
Can you track each property separately?
Yes — that's the default, not an upgrade. Every property gets its own income, expenses, and P&L, rolled up to a portfolio view.
I'm a Canadian buying Florida property. What's different for me?
A lot — FIRPTA withholding on sale, potential Form 5472 filings if you own through a U.S. LLC, and treaty questions on rental income. Our cross-border practice handles both sides. Start with the cross-border assessment.
When does a 1031 exchange make sense?
When you're selling appreciated investment property and want to defer the gain into a replacement property — but the deadlines are strict and the planning has to happen before closing. Talk to us before you list, not after you sell.
Do you handle short-term rental taxes in Florida?
Yes — Florida transient rental taxes and county tourist development taxes are part of our STR bookkeeping packages.
I own through a partnership. Can you keep the capital accounts straight?
Yes. Capital accounts, distributions, and K-1s are maintained every cycle, so they don't get messier each year they're left alone.
Know What Every Door Earns
Book a free consultation — bring your property list, leave with a clear picture of what proper real estate books would look like for your portfolio.