All Forum Posts by: Renee Fulcer

Thanks @Drew Sygit I'll look into that!

Wow @Calvin Ozanick I have 2 houses in Beloit, and I'm familiar with the area.  If you can really hit numbers like that My husband and I would like to talk to you. 

Yardi looks interesting, I'd look into that more. I have Buildium for the SFR we manage ourselves that I'm super happy with. I have one Property Manager that uses AppFolio (for about 65 of our units) and one that uses PropertyWare (for about 30 units) and both fail to meet my expectations in terms of what financial reports are sent to me as an owner.

Have you checked Fiverr to see if someone might help you set up your chart of accounts and get you started?

I have a college student in my multi-family that paid for the year in advance.  She's only been in there for 2 months but she's been quiet and I  haven't had any problems.

I use Quickbooks - For the properties I have under a PM (2 houses and an 11 unit) I invoice the tenants for rent the same as the tenants I manage.  When I get my statement from the PM, I go through and receive payments off the statement and deposit to a "bank account titled "PM Clearing Account".  Then I enter a bill from the PM for repairs, leasing fee etc (classes for each property / unit ) but a summary bill for the month.  Pay that invoice from my PM Clearing account and what's left in the register is the amount I received from my PM, which I deposit to my regular bank account and zero out the register.  

We recently added an out of state SFH so I have a seperate "Clearing Account" for that with a different PM.

Do they have a current lease, and if they do, do you have a copy of it?

I use Buildium and QuickBooks - Buildium for tenant placement, screening, rent collection, etc. and QuickBooks for finances.  I collect water/sewer/rubbish from tenants so that's really the only double entry I do, rents are automatic.  I guess I both programs have great features, just not the same features.  

Edit - This is for my self managed properties only, sorry I should have mentioned that above.

I'll be there with @Lloyd Fulcer!

Welcome Tyler!