Things to keep in mind when taking over a property

[Donna Stern]

I am a CPA and was just working with a client who sold her mobile home park. Come to find out her security deposit listing was wrong.

Tip: Very important when purchasing a property with more than 1 unit to verify the security deposits transferred to you by reviewing every lease and making a worksheet listing all the details to make sure escrow credits you the correct amount of those funds which you will later need to pay out to the tenant when they leave. Then if you are using a rent software the information is then tranferred properly.

I am happy to answer any questions about on boarding a new property

Donna L Stern CPA