Tag: Landlords

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 but this is based on my 6+ years as a bookkeeper for landlords who manage their own units. Y’all know I like to dive right in. Excel is a great analytic tool to help compile, sort, calculate, and analyze LOADS of data. It is employed by large and small business owners alike. What makes it such a great tool is that you can do quite a few things with it. Create dashboards, databases, and turn it into a low-cost accounting system. For the former uses, you will hard-pressed to find any as user-friendly and priced so well. For the latter, there are a few reasons why Excel is not the best choice for accounting. Landlords this is especially true for you. • How many sheets do you have for your Rental Business Workbook? • How much time does it take to make changes to the

Efficiency: Lease Renewals

https://secureservercdn.net/45.40.149.34/2hd.8e9.myftpupload.com/wp-content/uploads/2019/12/Renew-Today.mp4?time=1591289194 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 the same month? If you answered yes to the above question, please, keep reading. Lease renewals can be a stressful part of your rental business, particularly if it is not a streamlined process. Trying to coordinate the signing with the tenants, driving all over your city, performing the walkthrough to note the wear and tear and needed repairs, and finally sitting down to sign the lease can drain you. Let’s get into how you can streamline this process. Draft and send a letter to all of your tenants letting them know the change in this process. Address the why as clearly as you can. I recommend that you speak to maintaining professionalism and to ease the process for the tenant as well by giving them earlier notice of the renewal. As mentioned in Part One, you can use Acuity to set up 1 or 2