All Forum Posts by: Jeff Gates

 Does Paypal really charge this amount?

 Jeremy is correct. Any change can force hours and hours of testing and bug fixes.

Rarely do the software applications help you manage the "asset" of the rental. Rather they account for income and expenses, more of a income statement. So a balance sheet is not part of the application features. However some of these expenses can be depreciation, mortgage interest paid, and property taxes. 

Every time a tenant writes a check and hands the check to "anyone" they gave them the checking account info in full. 

There is a lot of new bank regulations with KYC that firms must meet. (Know your customer). Dwolla must meet these standards too!

If you work with unbanked tenants, I can assume you never checked their credit or the background. Most don't have legal employers. Some might get cash from illegal activities. 

This is a great thread keep in coming, it is so nice to hear from others!

My lease has $60 a day charge for occupants that are not on the lease and are in the unit beyond 14 days.

 Partial payments is dangerous for a landlord. This can get them in legal trouble. There should be a opt out option on partial payments. Even then, does software enable a landlord with less education to become vulnerable? 

 Excel is not a dynamic visual of ever changing data, and is too prone to user error. Anything without its own database is a pure static view on data. Accrual accounting requires double entry bookkeeping and your year end  financials require this in most cases. There are many double entry software systems that do not require a user to have an accounting education or training. And you won't need quickbooks to get these results.