![]() ![]() Use a Rental Property Tracking Spreadsheet Template to Maintain Rental PropertiesĪs a property manager, staying on top of maintenance is one of your key tasks. Instead, use a property management accounting system that is able to synchronize data from multiple sources, so that you can track exactly where you're spending money and what individuals are chronically late with the rent. Do you want to see these errors in your property management accounting? Of course not, but unpaid vendors or missed rental payments can go unnoticed if you use a system that's prone to human error and only has the ability to complete low-tech reports. Expense Tracking for Rental PropertiesĪn article in LinkedIn quotes a study that states that 88 percent of all spreadsheets contain significant errors. ![]() ![]() Instead of working with many different tenant spreadsheets, consider using property tracking software to tame that data. According to Intuit, "manual data consolidation can take up to 4.75 hours per week" as employees consolidate data from many different spreadsheets. However, as the number of properties you manage gets larger, this data can become out of control. When you're managing a few properties, you may be able to keep everything under control with a spreadsheet. You need to track information about your tenants, everything from their address to their tenant screening information to their payment history. Property Tracking Software Helps You Manage Tenant Information Whether you're looking for accounting software for property management or property tracking software to help you manage your maintenance, your growing business needs a solution that's better than an Excel spreadsheet. One spreadsheet, two spreadsheets, three spreadsheets, four: when you're managing multiple properties, the amount of information that you need to save about each property can multiply, and soon you'll find yourself struggling to figure out where a certain detail is filed. ![]()
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