NEW YEAR RESOLUTION
I will get organized with my property management software and if I do not have the technology to streamline my property management, I will get it.
We like to say that there are three pillars of good property management. One is excellent communication, another is knowledge of the law, and finally, meticulous bookkeeping.
It never ceases to amaze us that many clients who reach out to our office have no ledgers or systems in place to manage their rental business. Oftentimes, they have handwritten notes. To this group, we want to urge you to enter the 21st century and get equipped with online tools to know your numbers and make data-driven decisions.
Personally, for the properties we own or manage, we rely on AppFolio. This cloud-based platform allows owners to view reports detailing all repairs, income, and expenses, along with year-end statements, and monthly payments for recurring obligations such as insurance, mortgage payments, HOA duties, real estate taxes, and the like.
For those of you who already have property management software, are you using it to the fullest? Stay up to date on any developments they have made for you and don’t be shy in contacting support to utilize every tool available.