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The Best Accounting Tools for Rental Property Managers

When the topic of real estate investing and property management comes up, people are usually interested in house flipping, advertising vacancies, maintenance and evictions.

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The Best Accounting Tools for Rental Property Managers

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  1. PROPERTYWARE.COM TheBest AccountingTools forRentalProperty Managers PROPERTYNAVIGATORS.COM

  2. Whenthetopicofrealestate investingandproperty managementcomesup, people areusuallyinterestedinhouse flipping, advertisingvacancies, maintenanceandevictions.

  3. Thelessdiscussedbutextremelyimportanttopicisaccounting! Realestateinvestorsandpropertymanagersneedtouseefficient, organizedaccountingsystems. Theremustbeasolidsystemin placeforrevenuecominginandout, reportingandtax preparationbeforearentalpropertyisavailableforrent, rent checksaredepositedandmaintenancerequestsareaddressed. SomeofthetoolsusedatNexusPropertyManagementFranchises helpwithefficiencyandorganizationinalloftheseareas. Propertymanagementcompaniesandrealestateinvestorsare lookingtoreceiveareturnontheirinvestedtimeandmoney. They mustbeabletohandle, documentandorganizerevenuethathas comein. PropertywareallowsNexustoorganizeallpayments, bills, ownerstatementsandtenantledgerseasilyinonelocation. Italsooffersonlineandcashpaymentoptionsfortenants, in additiontodirectdepositpaymentsforvendorsandowners. Thesetoolssimplifythetaskofmanaginghundredsofowner accountsandthousandsofdifferenttenantledgers.

  4. Mostpeoplearehappytohandlemoneycominginand lessenthusiasticabouttrackingmoneygoingout. A goodruleofthumbistokeeptheminimumnumberof bankaccountsandcreditcardstobeabletotrack expensesforyourrealestateinvestments. A comprehensivepropertymanagementsoftwarelike Propertywarewillassistwithtrackingvendorpayments andsimilarexpenseswithitsbuilt-ingeneralledger systemandcheckprinting. Inaddition, thereareother expensesinvolvedwhenusingchargecards, subscriptions, etc. Forthesetypesoftransactions, Nexus usesasingleAmericanExpressaccountandsyncsit withabusinessbankaccountonQuickBooksonline. Thisallowsforeasyexpensetrackingandincreased automationascommontransactionsarelabeled.

  5. Attheendoftheyear, UncleSamwillbe interestedintheprofitremainingafterallofthe moneycollectedisoffsetwithexpensespaid. For NexusPropertyaccountants, reportingandfiling taxesisaveryorganizedandstraightfroward processduetotheefficiencyofPropertyware, and automatedexpensetracking. NexusProperty Managementtakesadditionalsecuritymeasures byusingcloudstorageandretainingscanned copiesofallcheckstubsandrelevanttax documents. Intheeventofacomputerfailure, takingadditionalstepstobackupinformationcan preventlossofdata. Italsoprovideseaseofaccess toyourinformationfromanywhere.

  6. ARTICLESOURCE: PROPERTYWARE IMAGESOURCE: PROPERTYNAVIGATORS

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