Case Study

Property Management Inc (PMI)

Exceeding Expectations

PMI started off by handing over a few franchises to Keystone Bookkeepers to see how it would work. “It was instantaneous, and they solved our problems straight away. And not just that, Keystone Bookkeepers cleaned up our franchise owners' books too. They went back and reconciled all the mistakes or things that hadn’t been completed and put them on the right track again. Ben and the team absolutely turned the whole business around for us. And it was quicker than expected! I had allowed 3 months to transition the first franchises but it was all done in a month. They totally exceeded my expectations!”

Property Management Inc (PMI) is a property management franchise that has been in business for over 12 years. We sat down with Marianne Heder, Executive Director of Short Term Rentals, to find out what it’s been like working with Keystone Bookkeepers.

“Before we started with Keystone Bookkeepers, we were trying to do the accounting internally but struggling,” Marianne said. “We wanted to offer support for our franchisees when managing their own bookkeeping. We knew it was a difficult, time-consuming task for them, especially as a brand-new owner of a franchise. They often didn’t understand the ins and outs of rental property accounting and were overwhelmed by the task.”

At the time, it was a job for PMI’s internal team. “We were managing the accounting for them, but it became something we needed help with too, as short term rental accounting is extremely complex. There are a lot of moving parts that you need to keep track of, and we found we couldn’t accurately give the support our franchise owners needed, or provide best-in-class service. I just knew we could do better so we began looking for partnerships with third-party vendors that could provide that service for our franchise owners.”

After talking with their vendor partners at Ximplifi and VR platform, they were recommended to speak to Ben at Keystone Bookkeepers. After a few months of chatting, they took the leap and started working together in October 2023. 

Marianne appreciates how humble the founder Ben is, as well as his listening ear and smart questioning. “There wasn’t a lot of confusion or extra fluffy talk, Ben is very down to earth, and the main thing is, he delivered on what he said! He explains things in a simple way and that has made it so much easier to work with him!”

“Easily the best decision we’ve made.”

One of the key things Keystone Bookkeepers has been able to do for PMI’s franchise owners is to reconcile trust accounts with operating accounts which allows for a much more accurate accounting process. “Our franchise owners can’t stop raving about how amazing it is to work with Ben. To trust the accounting functions of the business to a professional has easily been the best decision we’ve made.”

Marianne’s praises for the team at Keystone Bookkeepers continue. “Ben has a great team. They are easy to get a hold of and give you very quick responses. It’s not a one man show at Keystone, they are trained by Ben, but their greatest asset is their systems and operating processes that are very dialled in. It means they aren’t trying to reinvent the wheel each time they get someone new, and this leaves very little room for error which is so important in accounting.”

Part of the team

Keystone Bookkeepers are now a valuable resource for those who aren't as familiar with the intricacies of the short term rental industry. “Ben has become an extension of our team. Every month he trains our franchise owners on accounting topics. He is a wealth of knowledge, and we now require all franchise owners to work with him for a year.”

“I would recommend his services to anyone who wants best-in-class services.They are experts, very good at what they do and very easy to work with.”