Nikhil Agarwal
Flow of Funds with Property Management Companies
QQ on how property management companies work! Typically, do the tenants make payments to the property management company (and then the property management company forwards the funds to us (owner of the unit)? Or does ...
Lear R.
New Property Management Crafty Book Keeping Is This Normal?
Hi, I currently have a relationship with a property management company that has implemented a new accounting practice, that basically puts previous tenants accounts recievables to the property management company direc...
Daniel M.
Help Setting Up QuickBooks for Real Estate
Hey BP!
I'm diving into QuickBooks Online for the first time and could use some guidance. To give you a bit of background, I know very little about bookkeeping beyond managing my budget for the last three decades (ug...
Alma Alvarado
Property Management / Rentals
Hello All, First post! Here it goes..My company is currently attempting to start a successful property management company. They have tasked me with setting up the bookkeeping and accounts. Current set up: We created a...
Lee Serel
What is the best accounting system and method to keep track of which expenses/income goes to which property in the same company
title says it all. How do you track the your income / expenses for each individual property under your company?
Karen Higgins
Property Management Trust Accounts
I have a question about property management trust accounts. My husband and I currently own and self manage 105 units in Minnesota. We are looking to expand our business this year and potentially start a property man...
Carlos C.
Rent payments cash flow....
Hi to all, Im planning on opening a Wyoming LLC as a holding company, then open an LLC for each rental that we have in Kansas and Missouri.I read several articles and would like input on the way rental payments should...
Michael M.
General Escrow Question
BP,
I'm nearing the date of when I'll be leasing out my property, and brushing up and finalizing my To-Do-List. In the state of NJ, the tenant's security deposit must be deposited in either:
1) Shares o...
Kyle Doney
401k Contributions From Personal or Biz Acct?
Hi,I cannot find any literature from the IRS on whether contributions to a Solo 401k from an LLC taxed as an S Corp have to come from the businesses account or if they can come from a personal checking account. My acc...
Saran Mandhadapu
How to setup parent and subsidiary business bank accounts?
Hi,I have formed a holding/parent LLC company and a subsidiary/operating LLC company which is 100% owned by the holding/parent LLC. The idea is to buy rental property in the name of the subsidiary/operating LLC.I was...