by Annie Margarita Yang | Apr 19, 2022 | Business Operations
Is it okay to spend money on personal expenses with your business account or business credit card?The quick answer is no. It’s illegal. You shouldn’t do it. If the IRS audits you and finds out that you are doing that, you’re going to get into a lot...
by Annie Margarita Yang | Apr 13, 2022 | Business Operations
For the best process, tenants should always pay the property management company directly, and then the property management pays the owner the remaining funds after all expenses are paid out. However, in this situation, we have a tenant that keeps paying his rent in...
by Annie Margarita Yang | Apr 8, 2022 | Business Operations
For property management accounts payable, there are things I like to cross check after vendors submit their information through the Vendor Form. Yes, it takes a few extra minutes, but it is worth it to set up the vendor properly and avoid headaches later down the...
by Annie Margarita Yang | Apr 8, 2022 | Business Operations
As you scale your property management portfolio up, you’ll find that you get bills coming from all directions. There are a few problems you can solve by creating a vendor form that all new vendors are required to submit. Vendors send their bills to the person they’ve...
by Annie Margarita Yang | Mar 30, 2022 | Business Operations
Let’s say when a tenant first moved in, the owner of the property wanted to hold onto the last month’s rent and security deposit in their own bank account. Here is an example of 3 units on a property that had owner held funds. Unit M Tenant Ledger Unit 2 Tenant...
