Rental Properties & Management Software
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In my last guide, I shared tips on how real estate agent and property manager can choose the right accounting solution for their business.
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In addition to that, some property managers asked if I could also share detailed tips on how accounting software can work for property or estate rental business.
The roundup presents some of the features of a well-customized solution for rental properties:
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- The software tracks all properties owned and cost of acquisition or construction which normally is classified as a non-current asset in your financial report.
- The software manages tenant’s details, the amount owed, payment received for a specified period and generate a statement of account.
- The software tracks all maintenance expenses incurred on a particular property.
- All service charge income received as also accounted for as well as a historical summary of transactions for each tenant.
- The software generates financial reports that are specific to a property like income and expenses on a property for a specified period.
- It also generates reports that specify amount paid to the landlord from rental income if you manage the property on behalf of the landlord.
- The system generates property report based on location for easy comparison.
While these are some of the key deliverables of accounting software customized for your property management business, you can connect with our support center for more inquiries and implementation service.