All Forum Posts by: George Ganis

Thank you Julie

Thank you Nathan, that is great.

We found new tenants that are active duty military. We gave them our standard lease and they subsequently came back with a request to add a clause to cover the possibility being assigned elsewhere.

I want to do the right thing for them, but at the same time do not want a hole in our lease that you can drive a tank through.

Does anyone have a clause in their lease that you would be willing to share?

If you have had good experience with someone, please let me know.  I have a huge tree to deal with and would like to get a couple of quotes.  

Thank you in advance!

I agree with the comments above, QuickBooks Online and using classes is the way to go.  It allows you to line up your income statements for each property and compare each expense account to all other properties.  That helps highlight your problem areas.  

For my properties, I go one step further and add a short description to each transaction.  It is especially useful for tracking repairs and maintenance as you can drill down for any period of time and get a quick report of everything that has been done (... didn't they just repair that shower in 2nd bath at 123 Main Street last year or was that Easy Street?).  

One last benefit is if you have multiple property management companies in different cities providing reports in various formats it can be difficult to compare your investments with each other.  By entering everything into QuickBooks you can bring all the square and round pegs together in one clean format.  

QuickBooks does have a learning curve to it, but I cannot imagine how you keep track of your portfolio without it.

I'll second QBO.  

A little more expensive, but there are quite a few benefits.  Setting up each property by class allows you to easily generate P&Ls by property.  Export that to Excel and add a few formulas to track all the metrics you want.  

An added benefit is how easy it is to drill down to the expenses for each property.  If you enter an short description for each transaction, you can quickly generate a report showing all the work performed on the property for whatever period you want (didn't I just repair that fence last year?).  

For rent collections I use eRentpayment.  They are easy to use, and their customer support has always been very responsive.  For the accounting side I use QuickBooks Online.  QBO can be a little daunting, but I am an accountant and really like what it provides.

@Gena Kirkwood, I am looking to repair hail damage.  Apparently we were hit months ago, but only now do we find out after receiving water damage inside the house. 

Hello investor community. I have a SFR rental with hail damage in Independence Missouri and need a recommendation for a roofer. Any leads from experienced roofers that you have used in the past would be greatly appreciated.

Thank you.

Thank you @Chad Benedict and @Wanauma Graham.  It is always great to have a warm recommendation!