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2 August 2024 | 0 replies
We still have some tenants that bring rent to the office instead of paying online. What security boxes or other solutions do you use to insure the rent is as secure as possible before taking it to the bank?
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3 August 2024 | 10 replies
Current systems and tools:- Assistant to manage payments, invoices, ensure rents come in and chat with tenants for issues- Melio for vendor payments- Baselane for banking - separate accounts for each rental and deposit- Google sheets for Income and Expense reporting- Azibo for rent collection automation with late fee automations- Drive for my leases, SOPs, and documentations of tenants move in/move outGoals of improved system: ensure I have a read out of how each property is preforming month over month, check on big expense items, ensure vendors get paid, mortgages get paid and rent is coming in, generate APY on float and savings for any big CapEx that comes up, and make my life easier come tax season.Is there a single software people use or what do you do for your business systems to optimize all of this?
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3 August 2024 | 14 replies
.- 12/13 the check of course bounces due to her putting a stop payment on the check- 12/13 I was notified that she turned off utilities on 12/12- 12/14 I provided her email stating I would be checking on the property on 12/15 (24 HR notice)- signed lease through August 2018- I have $1650 ($1350 rent and 300 pet deposit) in security deposits- upon checking on property I found that there are no items of value in my property and she had left all keys and garage door openers that I had originally provided her.
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4 August 2024 | 15 replies
Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.
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30 July 2024 | 4 replies
I believe best practice is to have them make the security deposit payment within 24 hours.
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4 August 2024 | 5 replies
I use Baselane and even though it's very simple to set up accounts and to have dedicated credit cards for each property, I do have to watch very closely that the deposits and expenditures go to the right account so I don't leave myself short anywhere.
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3 August 2024 | 9 replies
You can see when the payment will be withdrawn and when it will be deposited on Avail.
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2 August 2024 | 11 replies
And to get spec loans from most banks they are going to want a deposit relationship..
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1 August 2024 | 2 replies
First wholesale deal question.I've got a property under contract with a $100 earnest money deposit.
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1 August 2024 | 12 replies
There are no deposits in place.