Author: balance

Bank reconciliation is a crucial financial process for property managers, ensuring that the transactions recorded in their accounting system match those in their bank statements. This process helps maintain accurate financial records, detect discrepancies, and prevent fraud. Understanding the basics of bank reconciliation can streamline your property management operations and provide clear financial oversight. Here’s…

Introduction For property managers, maximizing fees and increasing revenue is crucial for sustaining and growing their business. By implementing strategic measures, property managers can significantly boost their income while providing valuable services to property owners and tenants. Here are ten effective ways to achieve this goal. Evaluate Current Fee Structure Start by reviewing your existing…

Introduction Understanding the various tax deductions available is essential for property managers to minimize taxable income and reduce overall tax liability. Properly claiming deductions can result in significant tax savings, making it crucial to be aware of what expenses qualify. Here are ten tax deductions property managers shouldn’t miss. Mortgage Interest For property managers who…