Financial Services for
Ontario's Real Estate Operators.
A senior CPA-backed team delivering bookkeeping, business plans, Fractional CFO and financial modeling built for the way real estate actually operates — project-level pro formas, construction draw accounting, HST recovery on new residential including the New Housing Rebate, multi-entity discipline across project cos, holdcos and family trusts, capital gains vs income treatment analysis, NRST and Underused Housing Tax coordination, and CMHC MLI Select applications. Serving pre-construction condo developers, purpose-built rental developers, commercial and mixed-use developers, property management operators, real estate LPs and MICs, and multi-generational family real estate companies across Toronto, Mississauga, Vaughan, Markham, Oakville and the broader GTA.
Built for Project Economics, HST Recovery & Multi-Entity Discipline.
Real estate finance isn't small-business accounting with more buildings. It's a distinct discipline anchored in project-level economics, construction draw accounting, HST recovery mechanics, multi-entity structures and lender coordination. Generic accountants routinely fumble every one of these — and leave six-figure recoveries on the table.
CPA-supervised, developer-fluent
Every real estate engagement is led by a senior CPA who's already worked with developers, PBR operators, property managers, LPs and MICs, and family real estate companies at your stage. No junior handoffs. No offshore delegation. Project economics and multi-entity discipline treated as inseparable from day one.
Construction draw & project depth
Draw schedule preparation and reconciliation, progress billing tied to construction milestones, interest during construction (IDC) capitalization, cost-to-complete tracking, budget vs actual variance by trade and cost code, holdback and lien discipline under the Ontario Construction Act, and the lender reporting package construction lenders actually expect.
HST recovery & New Housing Rebate
HST recovery on new residential development is one of the biggest under-recovered opportunities we see. New Housing Rebate mechanics involve federal and Ontario provincial components, purchaser vs builder eligibility, self-assessment on rentals, and coordination with construction cost input tax credits. We routinely identify six-figure recoveries left on the table by prior firms — especially on PBR and mixed-use developments.
Multi-entity & family trust fluency
Ontario real estate operators run multiple related entities — project cos, holdcos, family trusts, marketing cos, property management cos, real estate cos, LPs and MICs. We handle inter-company agreements, multi-entity HST discipline, inter-company balance reconciliation, transfer pricing for management fees, consolidated reporting and coordination with your legal counsel on entity structure changes and succession.
Lender coordination fluency
Big Five banks (RBC, TD, BMO, CIBC, Scotiabank), trust companies, private construction lenders, CMHC MLI Select, MICs, LPs and family office capital all read real estate packages differently. Project pro formas, sales absorption, IDC capitalization, hold-period underwriting, IRR and equity multiples — delivered the way each lender and equity partner actually expects.
Fixed fees, all four services under one roof
Fixed monthly retainer for CFO and bookkeeping. Fixed project fee for business plans and models. Bookkeeping, CFO, business plan and financial modeling from the same team, using the same numbers, telling the same story to your lenders, LPs and family stakeholders.
What Real Estate Operators Actually Face.
Ontario is home to one of North America's largest real estate development markets. Toronto's pre-construction condo pipeline, purpose-built rental resurgence, commercial and mixed-use developments across the GTA, and the family real estate companies that have quietly built substantial portfolios over three or four generations — this is a market that has no real parallel elsewhere in Canada. The founder and operator base spans pre-construction condo developers, purpose-built rental (PBR) developers, commercial and mixed-use developers, land developers, property management operators, multi-family residential operators, real estate LPs and MICs, brokerage firms, fix-and-flip operators, short-term rental operators, storage facility operators, industrial real estate operators and multi-generational family real estate companies. Every one of these has finance realities generic accountants don't understand.
Real estate operators face finance realities that touch the entire balance sheet at once. Project-level pro forma modeling that surfaces which projects are actually profitable and which are quietly burning capital. Construction draw accounting with draw schedule preparation and reconciliation, progress billing tied to construction milestones, interest during construction (IDC) capitalization, cost-to-complete tracking and budget vs actual variance analysis by trade and cost code. Holdback and lien discipline under the Ontario Construction Act. And the lender reporting package that Big Five bank construction lenders, trust companies, private construction lenders and CMHC actually expect for progress advances.
HST recovery on new residential development is one of the biggest under-recovered opportunities in Canadian real estate. New Housing Rebate mechanics involve federal and Ontario provincial components, purchaser vs builder eligibility analysis, self-assessment on rentals under the "self-supply" rules, and coordination with construction cost input tax credits (ITCs). We routinely identify six-figure recoveries left on the table by prior firms — especially on purpose-built rental (PBR) and mixed-use developments where the self-assessment rules are more complex and the New Residential Rental Property Rebate applies. HST discipline needs to be built into the accounting from the first construction invoice, not reconstructed at year-end.
Multi-entity structures are the norm rather than the exception in Ontario real estate. Project cos for each development. Holdcos for equity ownership. Family trusts for succession, income sprinkling and tax planning. Marketing cos for pre-sale operations. Property management cos. Real estate cos holding operating assets. MICs and limited partnerships for capital raising. Inter-company agreements need proper documentation. Multi-entity HST discipline is essential. Inter-company balance reconciliation across the group needs monthly attention. Transfer pricing for management fees and cost allocations needs to hold up to CRA review. Consolidated reporting is often needed for family or investor visibility. And coordination with your legal counsel on entity structure changes and succession planning is ongoing.
Capital gains vs business income determination is one of the highest-value tax planning conversations in Canadian real estate — the difference between 50% capital gains inclusion and 100% income inclusion is material. CRA factors (nature of the property, length of ownership, frequency of transactions, work expended, financing, motive for purchase) apply differently to fix-and-flip vs hold-and-rent vs develop-and-sell strategies. Section 85 rollovers for corporate reorganizations, Section 44/45 elections for change of use, principal residence exemption management, and coordination with your tax lawyer on the more complex positions all deserve real attention.
Layered on all of that: the Non-Resident Speculation Tax (NRST) at 25% on residential purchases by non-resident foreign entities across Ontario, the federal Underused Housing Tax (UHT) at 1% annually (rules changed materially in 2024), Toronto's Vacant Home Tax, Bill 23 development charge changes, provincial and Toronto Municipal Land Transfer Tax (MLTT), and municipal development levies. What real estate operators need is senior finance leadership at Fractional pricing, deep expertise across construction draws, HST recovery, multi-entity structures and family trusts, plus lender coordination fluency with Big Five banks, trust companies, CMHC MLI Select, MICs and LPs. Ledgerive was built for exactly that.
Signs Your Real Estate Business Needs Ledgerive.
The two service lines real estate operators reach for first are Bookkeeping (get construction accounting, HST recovery and multi-entity discipline right) and Business Plans (close construction financing, CMHC MLI Select or LP capital raise). Here's how to tell when each is the right answer.
You Need Real Estate Bookkeeping When…
Your books either don't reflect project-level economics, HST discipline is off, or your multi-entity structure has tangled inter-company balances that nobody can reconcile. Real estate accounting is a distinct discipline — and generic bookkeepers routinely miss construction draws, HST New Housing Rebate mechanics, and multi-entity coordination.
- You're a developer running 2+ concurrent projects and everything is being posted to one giant P&L with no project-level visibility
- HST discipline is off and you suspect you're leaving material New Housing Rebate refunds on the table — especially on PBR or mixed-use developments
- Your multi-entity structure (project cos, holdcos, family trusts, real estate cos) has tangled inter-company balances and inconsistent inter-co discipline across the group
- You need clean books to close a construction loan, submit a CMHC MLI Select application, raise LP capital, or plan succession
You Need a Real Estate Business Plan When…
You have a real deadline — a construction financing package, a CMHC MLI Select application, an LP capital raise, an equity partner conversation, or a family succession filing — and the plan has to be strong enough to actually close the financing or the capital.
- You're preparing a construction financing package for a Big Five bank, trust company or private construction lender
- You're preparing a CMHC MLI Select application for a purpose-built rental development — one of the most valuable financing programs in Canadian real estate
- You're raising LP capital or MIC capital and need a proper offering-quality business plan and pro forma
- You're structuring a family succession or intergenerational transfer and need a plan that supports both the tax and family governance conversations
Developer-Native Bookkeeping & Business Plans.
The two services real estate operators lean on first, delivered end-to-end by a senior CPA-led team with deep developer, PBR, family real estate co and LP/MIC specialization. Fractional CFO and Financial Modeling are available alongside as your stage requires.
Bookkeeping for Real Estate
Monthly bookkeeping, catch-up bookkeeping, HST filings and payroll for real estate operators — tuned to construction draw accounting, HST New Housing Rebate discipline, multi-entity project co and holdco coordination, family trust reporting, property-level P&Ls, tenant sub-ledger discipline for property management, and the lender reporting package construction lenders and CMHC expect. QuickBooks Online, Xero, Sage 300 CRE, Yardi, or AppFolio — reviewed by a CPA.
- Construction draw accounting & IDC capitalization
- HST New Housing Rebate recovery discipline
- Multi-entity project co, holdco & family trust discipline
- Tenant sub-ledger & rent roll reconciliation
- Lender reporting for progress advances
Business Plans for Real Estate
Lender-ready, CMHC-ready and LP-ready business plans for real estate operators — construction financing packages for Big Five banks, trust companies and private lenders, CMHC MLI Select applications for purpose-built rental developments, LP and MIC offering-quality plans, family succession plans and joint venture partner packages. Written for exactly what each lender, equity partner and family stakeholder actually wants to see.
- Construction financing packages (banks, trust cos, private)
- CMHC MLI Select applications for PBR developments
- LP & MIC offering-quality business plans
- Family succession & intergenerational transfer plans
- Joint venture partner & equity partner packages
Also available for real estate operators:
Real Estate Sub-Verticals & Ontario Cities We Cover.
Deep specialization across the real estate sub-verticals that actually define Ontario's market — and coverage across every core Ontario real estate city.
Real estate sub-verticals we serve
Our deepest real estate expertise — from pre-construction condos to PBR to family real estate cos.
Ontario real estate cities we cover
Remote-first for everyone. On-site quarterly reviews available across every city below.
Remote-First, Developer-Ready.
The engagement rhythm every real estate operator can expect — designed around your project timelines, construction draws and lender calendar.
Free 30-min discovery call
NDA before the call, always. We walk through your projects, your entity structure, your lenders, priorities and deadlines. Honest answer on fit inside the call itself — not a follow-up email.
Written proposal in 48 hours
Scope, deliverables, timeline and fixed fee — all in writing. If the scope needs to change, we redraft once for free. What we quote is what you pay.
Start in 3–5 business days
Engagement letter signed. Access granted to your QuickBooks/Sage 300 CRE/Yardi/AppFolio, project cost systems, bank feeds and prior financials. First deliverable — usually a project-level P&L snapshot or HST discipline review — lands the same week.
Weekly cadence + lender-ready
Standing weekly call, always-on Slack, monthly close by the 15th, lender and family stakeholder packages when needed, CMHC and construction lender support when the moment comes. No help-desk queue, no offshore relay.
What Real Estate Operators Say After 90 Days.
We're a mid-size condo developer with three concurrent projects across the GTA and our previous accountant was posting everything to one giant P&L — we had no idea which projects were on track and which were burning capital. Ledgerive rebuilt project-level pro formas, proper construction draw accounting, and HST recovery. We recovered six figures in the New Housing Rebate alone that had been left on the table across two prior years.
We're building a 120-unit purpose-built rental in Mississauga and CMHC MLI Select was our critical financing path. Ledgerive prepared the full financial package — project pro forma with proper hold-period underwriting, sponsor financials, family trust structure disclosure — and coordinated the ongoing draw reporting through construction. MLI Select approved at the terms we needed.
Our commercial mixed-use development in Vaughan involved a private lender, a family trust equity component, and a co-development JV partner — three different stakeholder groups all reading the numbers differently. Ledgerive built consolidated reporting that finally satisfied all three. The lender relationship in particular has changed — our monthly draw packages come back approved without questions instead of turning into two-week back-and-forths.
My family runs a real estate portfolio across property management and land development that's been in the family for two generations. Our multi-entity discipline was a mess — project cos, holdcos, marketing cos, a family trust, and inter-company balances nobody could explain. Ledgerive rebuilt the entire group reporting, tightened HST discipline across all entities, and worked with our tax lawyer on the succession structure. My father sleeps better now.
Questions Real Estate Operators Ask.
Straight answers to the questions that come up on nearly every real estate discovery call.
Do you work with pre-construction condo developers?
Do you handle construction draw accounting for developers?
Do you handle HST recovery on new residential development?
Do you handle multi-entity structures for real estate operators?
Do you handle capital gains vs income treatment analysis?
Do you work with REITs, real estate LPs and MICs?
Do you handle NRST and Underused Housing Tax compliance?
Do you handle property management accounting?
Which Ontario cities do you serve real estate operators in?
How quickly can you get started with a real estate operator?
How do you handle pricing?
Ready to get finance right for your real estate business?
30 minutes. NDA first. No pitch. Just a real conversation about your projects, your entity structure, your next 12 months, and whether we're the right team to deliver the finance work behind them.