Xero bookkeeping for landlords

What we record in Xero for a landlord

We record what the statements from your property manager, lender and suppliers show, against the property each amount belongs to.

• Each property manager statement entered as it arrives: the rent collected, their letting and management fees, and any repairs or bills paid from the rent, so the net deposit in your bank traces back to the statement
• The statement attached to the matching deposit in Xero, so the detail behind each payment from your property manager sits with the transaction
• Every property address given its own tracking category option, chosen on rent and on every cost, giving each property a profit and loss of its own
• Bills you pay yourself, such as council rates, water, strata levies and landlord insurance, entered from the bill and coded to the property they belong to
• Each loan repayment entered as your lender's statement sets it out, with its treatment left to your accountant and the loan balance in Xero compared with the lender's
• Anything on a manager's statement that doesn't add up, such as rent held back or a charge you don't recognise, noted for you to query with the property manager
• Each month, your bank accounts set against their statements and any difference explained, whether it's a deposit still clearing, an entry made wrongly or something the bank itself got wrong, which is raised with the bank

Businesses by main state or territory

These counts are for the ANZSIC class Residential Property Operators, which also takes in residential caravan parks and body corporate or strata corporations. Holiday houses and holiday flats are counted in the Accommodation class, so they are not included here. The ABS counts actively trading businesses, so landlords who are not counted as businesses are not in these figures.