Profit & Loss Statement: A Must-Read Financial Document

December 07, 2020

Property Management Financial Statements Monitoring property financial performance and examining the financial statements is one of the most essential tasks for a property manager. Your portfolio's financial performance should be reviewed on a monthly basis by the asset manager, director of property management, regional manager, and property manager.  When reviewing financial documents, the Profit and Loss…

  • Control Property Management Expenses

    June 18, 2020

    A Closer Look at Expenses on Profit & Loss Statements In a previous article, we talked about how revenue and vacancy losses impact property financial performance. While it’s essential to maximize rental income, it’s equally important to track how money spent on each line item and identify alternatives to generate cost savings. If you’re a…

  • How to Manage Tasks Like a Pro

    Overcoming Challenges in Daily Property Management Task management is a big challenge for DIY landlords and property management firms from California to Colorado to Florida.  That's why new tools are needed to manage successfully today. Property management is an interesting and dynamic profession. And while we love to talk about how business is improving and customers…

  • Resident Manager Agreement and the Conditional License Agreement to Use Unit

    June 04, 2020

    On Site Resident Manager Agreement In California, landlords are required to have a Resident Manager to live on site for a property with 16 units or more. This is covered under the resident manager agreement and the conditional license agreement. In many situations, property owner may offer an employee with base salary for the Property…

  • When Covid 19 Strikes

    When Staff or Tenants Test Positive A range of legal and business challenges are being faced by small business landlords, who may lack time and resources to respond appropriately to emergencies and dangers. From legal to disease threats, it's best for landlords or property managers to develop a plan. During the COVID-19 pandemic, people are…

  • Property Management Challenges in the COVID-19 Pandemic

    May 20, 2020

    Property Management Challenges in the COVID-19 Pandemic While the Corona Virus pandemic continues, so do property manager or landlord challenges and questions. We've covered other pressing issues recently including lease management, evictions, and maintenance.  Today we’re discussing property management related questions in this unusual time, such as rent collection policy, daily operations best practices etc.…

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