New to Buildium, experienced PM software users come on in!

[Seth Kitchka]

Hi all,

I signed up with Buildium and was hoping for some advise or tips from experienced Property Management software users. I only manage my five SFRs, nobody else's. I decided to start using Buildium now to stay ahead of the power curve. I don't want to wait until I have 10+ properties then play catch up on getting better organized.

I'm figuring it out as I go, little by little, but I was wondering what other people are doing as far as recording mortgage payments. I have a separate bank account for the rental income, expenses and the mortgage payments to be auto drafted from. I would like for the account balance in Buildium to reflect what is actually in the account at the bank. I am debating between a couple options:

1. Record each mortgage, inc. T&I, as an expense under each property knowing that the NOI won't be correct.

or

2. Record all mortgages in "My Office" not under each property, just to keep the bank account balance correct (I created a property "My Office" for misc expenses). Then maybe add an expense for the T&I paid to each property at the end of the year, and add a deposit to My Office totaling all the T&I expenses for the properties to keep the bank account balance correct.

or

3. (insert better idea here)

Thanks!