Apek Rentals: Streamlining Financial Management for Diverse Properties with Clearing

Discover how Apek Rentals revolutionized property management with Clearing's financial automation, ensuring seamless integration and precise financial oversight.

January 24, 2024


Apek Rentals: Streamlining Financial Management for Diverse Properties with Clearing

Nestled in the vibrant Palm Springs area, Apek Rentals has become a beacon of luxury and comfort in the vacation rental market. Managing 30 properties and leveraging platforms like Airbnb, Vrbo, and others, Apek Rentals has carved out a niche for providing exceptional guest experiences. However, their journey in financial management, especially with respect to integrating bank accounts and trust accounting, was fraught with challenges until they discovered Clearing.

The Challenge: Disconnected Financial Systems and Manual Reconciliation

Before partnering with Clearing, Apek Rentals faced significant hurdles in their financial operations. With Guesty for Pros as their property management platform and Stripe for payment processing, they struggled to connect bank accounts and effectively reconcile transactions directly within their PMS. This disconnect meant that their financial picture was always partial, making reconciliation a very time-consuming, manual process. The complexity was compounded by managing multiple homeowners with different commission rates.

Clearing's Solution: Comprehensive Integration and Automated Reconciliation

Clearing addressed Apek Rentals' challenges head-on. By integrating bank accounts with payout information, Clearing provided a complete financial picture for each property. This integration allowed for automated reconciliation, transforming a formerly tedious task into a streamlined, efficient process. Clearing's ability to handle different commission rates for various homeowners further added to the customization and flexibility of the solution.

The Outcome: Complete Financial Visibility and Enhanced Efficiency

The partnership with Clearing has revolutionized Apek Rentals' approach to financial management. The automated revenue and expense allocations, and segmented owner statements and balances, have not only saved significant time for Apek Rentals, but also provided a level of financial clarity previously unattainable. The 'WOW' moment for Apek Rentals came when they saw the matched deposits from OTAs feature, showcasing Clearing's ability to seamlessly integrate complex financial data and automate the bookkeeping associated with it.

Joshua, a founder of Apek Rentals shares his experience: "The integration of Clearing into our systems has been a revelation. The ability to automatically reconcile bank accounts against payout information has given us a complete and accurate financial overview of our operations. It's a game-changer for managing multiple properties and homeowners."

Looking Ahead: Growth with Clarity and Confidence

As Apek Rentals looks to the future, their partnership with Clearing stands as a cornerstone in their growth strategy. With a solid financial management system in place, they are now better equipped to expand their portfolio and explore new opportunities, confident in the knowledge that their financial operations are well-handled. With the time saved from administrative tasks, Apek Rentals is excited to see how they can use this extra time to provide guests with even better experiences!

Joshua envisions this next chapter: "Armed with Clearing's solutions, we're not just expanding our portfolio; we're redefining our approach to financial management in the vacation rental space. It’s fantastic."

Clearing is a Financial Technology Company, not a bank. Deposit Accounts are issued by Evolve Bank & Trust, Member FDIC.

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