keeping meticulous records so that you don't have to
Accounts Receivable:
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Rent collection
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Invoice and collect commercial property common area fees
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Charge and collect penalty fees
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Deposit receivables into a unique property business account (not pooled with other properties or clients as is common practice with many OTHER management companies)
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Maintain and report thorough transaction records
Accounts Payable:
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Pay utilities, mortagage, taxes, insurance, and any incidentals associated with the property.
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Pay owner a draw check each month based upon the cash flow and property financial plan
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Maintain and report thorough transaction records
Reporting:
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Reconcile all bank statements for property accounts managed by Syrus
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Prepare monthly reporting for the property owner detailing all transactions for the property
The monthly reports are always in perfect order and allow me to thoroughly audit income and expenses. - Roy Woolsey, Owner of a 19 Unit Apartment Building