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Quick tips on keeping property management records
The property management industry is an area that requires carefully maintained records:
- Financials
- Lease agreements
- Maintenance requests
- More…
This can quickly become a headache, and improper record keeping can lead to big problems! This quick video offers some tips on what you should be tracking and how to track it.
Which software programs do you recommend for a small property management business? Thank you!
Much of this boils down to preference. We don’t recommend any specific software at this time. A simple Google search will reveal the most popular – start with the free trials. Don’t jump too fast, switching is a PAIN.
I partially agree with destroying the credit reports. Maybe it’s a good idea to store them in case you have an audit. This might protect the owner and the manager from discrimination issues.
Using an online company to process application is a great way to reduce liability. They store all important records in an appropriate way and help you screen tenants while following fair housing.