The best real estate trust accountants in Canberra

Courtney Milne from Completely Taylored, one of Canberra’s most recommended Real Estate Trust Accountants. Photo: supplied.

If you’re a real estate agent working with trust accounts, you’ll need to protect funds and follow the rules. You’ll want funds to be professionally managed and only used for the right reason. You’ll want them managed in line with real estate legislation. In the ACT this is the Agents Act 2003, which requires all real estate trust accounts to be audited.

In choosing someone to manage a trust account, choose an accountant with experience in the real estate industry. That’s because there’s a lot involved. This includes reconciling daily, meeting deadlines for making payments, managing interest and reporting.

In this article, we’ll outline the qualities to consider when choosing a real estate trust accountant, and share where to find the best in Canberra.

What makes a great real estate trust accountant?

Choosing the right real estate trust accountant reassures you that money is properly managed, in line with legislation. Choosing an accountant with proven experience in real estate is a great start.

It can be helpful to keep the following in mind when choosing a real estate trust accountant.

  • Qualifications. Accountants must be qualified to handle trust accounts. They must follow the law and professional and ethical standards. Ask if your real estate trust accountant belongs to a professional body. This could be Certified Practicing Accountants Australia, Institute of Public Accountants and Chartered Accountants Australia and New Zealand.
  • Knowledge. Check if your trust accountant has specific knowledge of real estate. Ask how many they manage. Also ask about their years of experience with real estate.
  • Availability. Talk to your real estate trust accountant about their availability to handle your work. The last thing you want is one too busy to return your emails or phone calls promptly.
  • Track record. Check your trust accountant’s website to see how long they’ve been in business. Also check for online reviews to see what others say about their track record. As mentioned earlier, check to see if they have specific real estate experience.
  • Fees. Have an open discussion with your trust accountant to find out how they charge and what for. Also ask about special fee requirements.

The best real estate trust accountants in Canberra

RiotACT’s editorial team has combed through 20 years of on-site comments to compile a list of the most recommended businesses according to you.

To be listed in our Best of Canberra series, each business needs to have consistently received positive feedback on RiotACT and Facebook as well as maintaining a minimum average of 4/5 stars on Google.

Completely Taylored

Completely Taylored

Completely Taylored, established in 2016, offers professional trust accounting services. This includes specialised real estate trust accounts. Director Courtney Milne has more than 11 years of experience in accounting, administration, business development and real estate.

Completely Taylored handles all trust accounts in line with legislation. Work includes daily trust account bank reconciliations, mid and end of month processing and payouts, and end-of-month reporting. Clients receive efficient, effective services. They also receive informed, reliable advice

With real estate trust accounts, Completely Taylored is unique. In her previous career, Courtney was an award-winning real estate agent, working across all facets of the industry. Completely Taylored is trusted by some of Canberra’s top real estate brands as a result.

On Facebook, Pamela Gonzalez wrote, “Completely Taylored has a great team. From working with real estate agencies, childcare centres, or other small businesses, they have it covered … Highly recommend.”

16 Slim Dusty Circuit
Moncrieff ACT 2914

If you’re looking for more information on financial affairs, you might like our articles on the best tax accountants, best financial planners and the best bookkeepers Canberra has to offer.

Your experience with real estate trust accountants in Canberra

Thanks to our commenters who have provided insightful feedback. If you believe we have got it wrong, please let us know.

Have you had experience with any of the trust accountants listed above? If so, share your feedback in the comments below.

Frequently Asked Questions

What is a real estate trust account?
This is a special account, which is also known as a trust fund. It’s set up to hold money for real estate transactions. One type of transaction could be buying a property. Another could be holding rent money from tenants. Trust accounts are managed by a third party, like an accountant. They can only be used for their intended purpose.
Do I need a trust accountant who specialises in real estate?
Not all trust accountants handle real estate trust accounts. It might be best to select one who understands the real estate industry. They’ll save you time and money by working more efficiently.
How much do real estate trust accountants charge?
This varies depending on many factors. An example is how complex the trust account is. Another factor is how much is involved in managing it.
Do real estate trust accounts need to be audited?
Yes they do. A quality real estate trust accountant will arrange this for you.
What type of reporting is required with a real estate trust account?
This is specified in legislation. In the ACT, this is the Agents Act 2003. This Act requires all real estate trust accounts to be audited. Your trust accountant can explain all reporting required and how they will manage it.

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