As landlords, you are all familiar with the revolving door of tenants, the struggle of filling vacancies, and getting an empty unit “rent ready”. Aside from that there is exiting tenants and performing the walkout with them; assessing the state of the unit before handling the security deposit. What does this have to do with […]
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Top 5 Reasons to Ditch the Spreadsheet
Today’s topic is the top 5 benefits of ditching the spreadsheet and move to a computerized accounting system. For content purposes, QuickBooks Desktop is the accounting software I am talking about. I want to make one thing very clear about this post…..it is specifically created for Landlords. There may be some overlap into other industries […]
Landlord Reports: KPIs – What Are They and What Can They Tell Me?
Landlords, let’s talk reports and which of them you should analyze regularly. Obviously you are familiar with the P&L Statement and the Balance Sheet but how about your Tenant Turnover, Rent-Ready Costs, and Revenue Growth Reports? These reports are your KPI Reports, Key Performance Indicators. How many of you can raise your hands to say […]
Small Business & Bookkeeping – Economic Injury Disaster Loan
The Coronavirus has really changed things in a DRASTIC way. Small businesses are forced to close as they are deemed nonessential and because of this, they are losing money, forced to lay off or fire loyal employees and are having difficulty paying their bills. This lack of control over their businesses causes high levels of […]
Tax Tips – Vol. 1
Parents with working dependents, this post is for you and your working dependent. Below is the link to an article I found giving some insight into the requirements to file with your working dependents and if they should file on their own as well. I am going to highlight the key points AND provide the […]
A Word From AMH
https://secureservercdn.net/45.40.149.34/2hd.8e9.myftpupload.com/wp-content/uploads/2020/01/ezgif.com-gif-to-mp4.mp4?time=1631286659 I want to keep this post short and sweet. It’s listing the 5 major things THIS bookkeeper wants small business owners of all industries to know. Let’s get into it. Bookkeeping is not a glorified data entry position. It takes education and industry knowledge to properly enter transactions so that they are hitting […]
Efficiency: Tenant Exit Interviews
The final installment in the efficiency series is on Tenant Exit Interviews. How will this make me efficient? When a tenant moves out (this is when you want to conduct an interview, not when they are evicted) he or she can give you valuable insights that can level up your rental business. You can ask […]
Efficiency: Tenant Onboarding
Now if you have been following my blog, you know that we have already covered employee onboarding and how that helps keep your business running efficiently. Onboarding a tenant also helps and that is what we are going to focusing on in part 5 of our Efficiency series. Onboarding starts at the very beginning when […]
Efficiency: Documents
Welcome to Part 4 of the Efficiency series. In this post we are going to talk about document preparation, retention, and filing for accounting and bookkeeping purposes. Paperwork, YIKES! It is a necessary pain for all business owners. Applications, consent to background and credit checks, lease agreements, income verification, and so much more. Of all […]
Efficiency: Lease Renewals
https://secureservercdn.net/45.40.149.34/2hd.8e9.myftpupload.com/wp-content/uploads/2019/12/Renew-Today.mp4?time=1631286659 Welcome to Part Three of the Efficiency series. Today we are going to discuss lease renewals and how to make this process as efficient as possible. First, how many of you are scattered in terms of when you renew your leases? Meaning are you doing this every month with a new tenant, several in […]