Paying bills and organizing bill pay

[Erik Belinfante]

I have only 4 STR doors. I have had a helluva time paying bills on time. I have created a spreadsheet that seems to be less than efficient in identifying all my expenses. I keep getting dinged with new taxes, LLC fees, furniture replacement and kitchen item replacements. It seems super challenging to keep up with these bills. Majority of my utilities are paid on line. My HOA fees have been difficult because they all seem to want checks instead of credit cards. Any recommendations to better organize my bill pay. BTW, I do have management companies dealing with booking and maintenance. And, How do the people who own dozens of properties manage all the bill pay? Thank you for any help

[Zeona McIntyre]

Hi @Erik Belinfante I empathize with you, I swear the bookkeeping with STRs is never talked about, so much to keep up with. Automatic payments help a lot for all utilities and HOA fees. For our HOA fees, we have them come out of our banks bill pay, which is a free service where they mail checks monthly.

My most difficult part was keeping up with service providers and what we did was require that they bill us instead of us having to keep track of how many cleans, etc they did and then have to send it over. That helps. 

Last thing is maybe hiring a VA? That really helped me as I am not great at staying on top of paying invoices, so my assistant does that part.