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Property management accounting essentials: 6 must-have software features

Buildium

While not every solution will fit your specific business needs, there are certain features that you should look for in a quality property accounting software solution. If the property management software youre considering doesn’t include at least some of the following features, you may want to think about moving on.

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1099 forms for property management: Everything you need to know (2024 update)

Buildium

Property managers are required to request a W-9 from and issue a 1099-MISC form to each owner, attorney, and contractor they work with, so long as payments meet or exceed the $600 threshold. Luckily, you’ve got the knowledge and tools to make filing 1099 forms for property management a breeze.

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Run better HOA board meetings: Tips and tools for association managers

Buildium

As the governing body, the board is responsible for making decisions that uphold the community’s governing documents, maintain financial stability, and address homeowner concerns. This position also involves preparing financial reports, managing contracts, and keeping all communication channels open and effective.

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6 Property Management Tax Mistakes: Are You Making Them?

Buildium

Advertising to influence government legislation, however, is never deductible. Employees and Contractors If you hire one or more employees, your payroll, as well as costs such as health insurance and other benefits are fully deductible. When you hire an independent contractor, that cost is deductible, too.

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What are the top technological advancements expected to impact property management companies in 2025

Condo Control

Now, communities are using free programs like ChatGPT to write or amend governing documents, polish meeting minutes and even get legal advice. AI screening software can vet tenants as well as contractors based on criteria that management controls. Plus, good software ends up paying for itself.

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Roles and responsibilities of condo boards vs. property managers: Key differences

MRI Software

The world of multifamily property management can be challenging without understanding the responsibilities of a condo board vs property manager. households living in communities governed by condo associations, their efficiency directly impacts resident satisfaction and property value​. With over 70% of U.S.