All Forum Posts by: Simon W.

Cash flow will still be the same regardless if you expense the reno cost right away or capitalize it.

 I strongly suggest having a bookkeeper and a CPA. 2nd pair of eyes. When I help my clients maintain their monthly books and when it comes to talking to some CPAs, some aren't the best CPAs in real estate. 

Get a bookkeeper that knows real estate and know it well. The person handling your monthly books will know your business in and out better than your CPA. CPA focuses on tax returns.

It's great you're considering Stessa for managing your property—it's a solid tool for keeping things organized. About collecting rent through Zelle, though, there are a few key reasons why it might not be the best fit for you as a landlord or property management firm, especially in the long run:

Zelle is Designed for Personal Use: Its features are great for sending money to friends and family, but it lacks the business functionalities that landlords need, like automatic rent tracking and late fees.

No Rent-Specific Features: You'll miss out on handy features tailored for landlords, such as payment reminders, lease management, and maintenance requests.

Transaction Limits and Dispute Resolution: Zelle has sending limits that could interfere with rent payments, and it doesn't offer the same level of protection and dispute resolution you'd get with services designed for rental transactions.

Given these limitations, while Zelle might work for now, as you grow and manage more properties, you'll likely need a more robust solution that's designed with landlords in mind. This will save you time and provide a more professional experience for your tenants.

Just do a search here for property management software and you will get a lot of results. It is all up to preference.

Thank you! I will keep you posted if there are restrictions I am seeing.

@Theresa Holl so what you are saying is that there is a market for accounting services for people who uses Hospitable? LOL

But this is helpful to know that they have an AI platform focused on guest messaging.

Hello,

So I've been a member since Jan 2013 and have been a plus member forever. But I just noticed that I am paying for nothing because all the perks has been taken away and i am still paying for things that free members are getting.

What is the actual perks of keeping the plus? I used to be able to download any files but now there is a charge of $99. No discount. same as a free member.

The perks page itself is the same as a free member. 

The calculator reports are the same as free member.

Try out Stessa it's bare. Have you tried talking to your accountant to see if s/he offers it?

Hello @Joey Anderson,

I understand the importance of continuity and reliability in accounting services, especially in the dynamic world of real estate. As someone with nearly two decades of experience in real estate accounting, I appreciate the value of strong client relationships and consistent follow-through.

If you're seeking a trustworthy partner for your accounting needs in the Tampa area, I would be delighted to discuss how my expertise aligns with your requirements. While your 2023 filings are sorted, I'm here to ensure a seamless transition into 2024 and beyond.

Please feel free to reach out at your convenience, and we can explore how I can support you and your business moving forward.

What software do you use for your accounting system?

No matter what you do, there will be a good amount of manual work since it is multiple LLCs.

Best way to go about doing this is having the PO# tie to a property and/or the name of the LLC.

Did you ever considered looking at remotely? You might have a better chance finding the right person. All my clients are all remote. 

Especially in BP, there are a lot of accountants here.