Client Snapshot

Company: RST & Associates
Portfolio: 3,700+ residential and commercial units
Region: Los Angeles County, California
Industry: Property Management

“I’ve been through a dozen tech migrations in my career. This was by far the smoothest.” Craig, COO, RST & Associates

Introduction

RST & Associates is a long-standing property management company with deep roots across Los Angeles County. For decades, it has built its reputation entirely through word of mouth, earning the trust of property owners and tenants across markets such as Santa Monica, Burbank, and Studio City. With more than half of its clients retained for over twenty years, RST is known for reliability, compliance, and a strong operational foundation.

By 2022, however, leadership recognized that its existing technology stack could not keep pace with growth. The company relied on more than six separate third-party tools, including DocuSign, Airtable, and Zendesk. Each department worked in isolation, and every process from reconciliations to maintenance tracking required manual effort.

COO Craig and CFO Irma began searching for a unified platform that could consolidate operations and enable their staff to work efficiently without constant executive oversight. Their goal was clear: establish a modern, scalable foundation that would support continued growth without sacrificing accuracy or compliance.

The Challenge: Fragmented Systems and Operational Bottlenecks

The company’s processes depended heavily on spreadsheets, emails, and manual oversight. Leadership faced several recurring issues:

• Fragmented workflows: Tasks such as invoicing, maintenance tracking, and move-out processing were distributed across multiple platforms.
• Manual reconciliations: Bank reconciliations were completed in Excel, slowing financial reporting.
• Disconnected Systems made it difficult to maintain audit-ready data or enforce standardized financial controls.

These challenges created a situation where day-to-day operations were functional but taking longer than it needed to. The leadership team knew that continued growth would only increase complexity.

The Partnership: Balanced Asset Solutions and AppFolio

To execute a complete systems transformation, RST selected AppFolio as its new platform and Balanced Asset Solutions (BAS) to lead implementation, data migration, and ongoing accounting support.

The engagement covered four core areas:

1. Database Architecture and Security Configuration
   • Creation of role-based dashboards, permissions, and posting controls tied to accounting periods.
   • Standardization of chart of accounts, charge codes, and balance classifications for income, cash, and liability accounts.
2. Residential and Commercial Property Setup
   • Configuration of residential properties and commercial sites.
   • Setup of management fees, reserves, owner assignments, and property-level bank accounts.
   • Implementation of detailed unit-type templates for move-in/out charges, application fees, and market rents.
3. Financial Data Migration and Reconciliation
   • Import and validation of trust account balances, historical ledgers, open receivables, payables, and uncleared bank items.
   • Configuration of bank accounts, including first-month reconciliations and check automation.
   • Balance-sheet reconciliation across all key areas, ensuring zero discrepancies in clearing and liability accounts.
4. Workflow Automation and Reporting
   • Setup of automation for management fees, owner distributions, and recurring critical-date notifications.
   • Custom reporting for owners, tenants, and vendors including 1099 summaries, trial balances, and financial dashboards.
   • Integration of maintenance workflows, vendor insurance tracking, and automated reminders.

Implementation

According to Craig, RST’s COO, the implementation was unlike any he had previously experienced. With over a dozen system transitions behind him, he described this as “by far the smoothest.”

BAS managed the migration of more than 68,000 documents and executed complex data tasks including duplicate ledger cleanup and tenant ledger reconciliation. The team also provided on-site and virtual training, ensuring each department, from accounting to maintenance understood role-specific workflows before go-live.

Operations continued without interruption during the transition. BAS’s structured approach to testing and validation meant that financial accuracy and day-to-day tasks were maintained even as the company switched systems.

AppFolio’s solutions engineering team also collaborated closely with BAS and RST to accommodate unique requirements such as automated rent-control calculations specific to Santa Monica properties.

Results: Efficiency, Accuracy, and Measurable Impact

Within the first months following implementation, RST realized measurable operational gains across departments.

Operational Efficiency

• More than 40 hours per month saved through automation of accounts payable and maintenance workflows.
• Invoice processing time reduced by 50 percent, with Smart Bill Entry automating review and coding.
• 100 percent system adoption across all departments.

Financial Accuracy

• Full automation of bank reconciliations across 17 accounts, eliminating manual Excel tracking.
• All balance-sheet accounts validated with zero negative balances outside of depreciation.
• Owner reporting standardized with automated monthly and quarterly distributions.

Resident and Owner Experience

• 78 percent online payment adoption and 93 percent portal usage, reducing administrative work and increasing satisfaction.
• Tenants gained access to a single online portal for payments, maintenance requests, and lease renewals.
• Owners received consolidated, transparent financial packets automatically delivered by email.

Compliance and Control

• All cash, liability, and equity accounts properly reconciled to trust balances.
• Standardized GPR (Gross Potential Rent) configuration across properties enabled consistent performance tracking.
• Vendor insurance and document tracking automated with reminder workflows.

Ongoing Support and Enablement

Following go-live, BAS remained engaged with RST through a structured support program including:

• Monthly accounting oversight: review of reconciliations, receipts, payables, and owner disbursements.
• Quarterly diagnostics: balance-sheet validation and corporate accounting review.
• Annual events: 1099 reporting, tax preparation coordination, and financial adjustments for depreciation and fixed assets.
• Dedicated project management: centralized ticketing and escalation to AppFolio support when required.

This continued partnership ensures RST’s systems remain accurate, audit-ready, and aligned with GAAP standards.

Technology and Future Growth

RST now operates entirely within AppFolio’s ecosystem, using automation and integrated communication tools to manage thousands of properties with a lean team. The company has also adopted AppFolio’s Realm-X AI features to further reduce manual workload and streamline tenant screening and document generation.

Craig anticipates significant growth over the next five years, projecting RST will double its portfolio to more than 10,000 units while maintaining operational efficiency. With automation and centralized accounting in place, leadership plans to transition focus from daily management to long-term strategy and acquisitions.

Conclusion

The collaboration between RST & Associates, AppFolio, and Balanced Asset Solutions demonstrates how a legacy management company can achieve modernization without disruption.

Through disciplined financial migration, standardized reporting, and automation, RST converted years of fragmented data into a unified, compliant, and scalable platform.

Balanced Asset Solutions provided not only implementation expertise but also an ongoing partnership that ensures data integrity, process efficiency, and measurable business outcomes.

Key Outcomes

• 40+ hours saved monthly through automation
• 50% faster invoice processing
• 78% online payment adoption
• 93% resident portal usage
• 100% full system adoption
• Zero reconciliation discrepancies across 17 bank accounts

RST’s leadership now operates with greater visibility, accountability, and confidence. They are positioned for sustainable growth in one of the most competitive property management markets in the country.