Who Darcy is for
Property management software for third-party property managers
Quick answer
Third-party property managers handle other people's money, so their week centers on trust accounting, owner statements, distributions, management fees, and owner communication, on top of leasing and maintenance. Darcy's accounting module includes a general ledger with trust accounts, owner statements and distributions, and 1099s. Its agents match bank lines, read vendor invoices, flag problems, and draft each owner statement note for your review.
The weekly work of a third-party manager
A third-party manager works for owners under a management agreement. The owner's money passes through the manager's trust accounts, so accuracy is a legal duty, not only a service standard. The weekly jobs are:
Trust accounting. Hold rent, owner reserves, and security deposits in trust and reconcile every account. In California, Title 10, Section 2831.2 requires brokers to reconcile trust account records at least once a month, except in months with no activity.
Owner statements and distributions. Send each owner a statement and pay out the balance after reserves and bills.
Fees. Calculate management fees, leasing fees, and other fees under each agreement.
Owner communication. Explain vacancies, repairs, and rent changes before owners ask.
Approvals. Get owner approval for repairs above the limit in the agreement.
Leasing, collections, and maintenance for every property.
Year-end. Issue 1099s to owners and vendors. The IRS 1099-NEC threshold for nonemployee compensation is $2,000 for tax years beginning after 2025, and the form is due by January 31.
Where general tools fall short
The more owners a manager adds, the more statements, distributions, and reconciliations the accounting team must produce each month. Communication adds to the load. An owner who sees a large repair with no explanation calls the office, and repeated calls strain the relationship. Tools that run leasing and maintenance well but leave owner notes and reconciliations to staff do not reduce that monthly load.
What Darcy does for each job
Darcy is a whole property management system. Its agents prepare work for your team to review.
Weekly job | What Darcy does (confirmed) | What your team approves |
|---|---|---|
Trust accounting | General ledger with trust accounts. Matches bank lines and flags anything that does not add up. | Reconciliation sign-off |
Owner statements | Drafts the note for each owner statement. Statements run from the ledger. | Each note |
Distributions | Owner distributions run from the accounting module | Every distribution |
Fees | No confirmed agent capability | Fee calculations |
Owner communication | Statement notes explain the month | Owner calls and emails |
Approvals | Compares bids and recommends vendors | Owner approval requests |
Leasing, collections, maintenance | Leasing follow-up, renewal pricing, collections ranking and messages, maintenance triage | Prices, notices, vendors |
Year-end | 1099s in the accounting module | Payee data and totals |
The month-end close checklist shows what is done and what is blocking. Every action shows the records it used, which helps in a trust account audit.
Cost example
Darcy's price is $2 per unit per month as of October 2026. A manager with 600 units across 150 owners pays $1,200 per month. Payment processing is billed per transaction: $2.50 per ACH transfer and 2.85% + $0.30 per card payment. Ask in the demo who pays these fees in your setup.
How to evaluate software as a third-party manager
Reconcile one trust account. Ask how the system shows the bank balance, the book balance, and the total of owner ledgers.
Close one month for 20 owners. Count the minutes your staff spend on review.
Read the owner notes. Ask whether an owner would understand the month without calling.
Check fee logic. Enter two different management agreements and check the fees.
Check owner onboarding. Ask how a new owner's properties, leases, deposits, and opening balances are added, and who confirms them against the prior manager's records.
How the agents fit third-party work
Darcy starts by preparing work for your team to review. For a third-party manager, the first tasks are usually the monthly accounting work that grows with every new owner: bank matching, vendor invoices, and owner statement notes. As Darcy learns your policies and your team's decisions, you hand it more tasks to run on its own, one type of work at a time. Distributions and owner approvals usually stay with a person.
What to measure
Days from month end to owner statements sent.
Owner questions per statement.
Trust accounts reconciled late.
Owners lost per year, with the reason.
Related pages
Compare options in our list of the best software for third-party property management companies. For terms, see property management agreement, property management fee, and trust accounting. Read how Darcy drafts owner statements. To see Darcy close a month for owners like yours, book a demo.
Questions, answered
Does Darcy support trust accounting?
Yes. Darcy's general ledger includes trust accounts. Darcy matches bank lines during the close, and your team signs the reconciliation.
Can Darcy write owner statement notes?
Yes. Darcy drafts the note for each owner statement and shows the records it used. At first, your team reviews each note.
Does Darcy calculate management fees?
Darcy has not published an agent capability for fee calculation. Ask in the demo how your management agreements map to Darcy.
What does Darcy cost for 600 units?
At $2 per unit per month as of October 2026, 600 units cost $1,200 per month, plus payment processing per transaction.
Sources and method
We read each vendor’s own pricing and product pages, then review sites and news. Prices and features change, so confirm details with the vendor before you buy.
See Darcy run on a portfolio like yours
Tell us how many units you manage and which system you use today. We’ll show you which parts of your team’s week Darcy can take on.