Accounts payable for real estates refers to the short-term liabilities a business owes to its vendors, suppliers, or service providers. In the real estate sector, these liabilities often include:
- Payments to contractors and subcontractors.
- Utility bills for properties under management.
- Maintenance and repair expenses.
- Property tax obligations.
- Vendor and supplier payments for furnishings, fixtures, and equipment.
Effective AP management ensures that these expenses are tracked, processed, and paid on time, preventing delays and maintaining good relationships with stakeholders.