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6 steps to jump from property manager to property owner: Build your rental portfolio with confidence

Buildium

Step 1: Evaluate and Manage Your Existing Skills and Resources If you have experience in the industry, you also already have a solid foundation for investing. Skills such as tenant screening, handling maintenance, and navigating local regulations directly transfer to rental ownership.

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Understanding HOA finances: A practical guide for association managers

Buildium

One of the biggest responsibilities you’ll have as an association manager is keeping your HOA’s finances in good shape. In this guide, we give you the full HOA finances picture. What are HOA Finances? All three of these play a role in keeping the association running smoothly and protecting the community’s finances.

Finance 245
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How property managers can expand their business by acquiring other property management companies

Buildium

Look at recent property management market insights and industry reports to understand emerging trends. Set a realistic budget and decide how you’ll finance acquisitions. Here are the factors to consider when structuring the deal and laying out your financing options. Many deals combine multiple financing methods.

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Technology in property management: 6 benefits you should know

Buildium

Collecting Rent and Managing Finances: Less Stress, More Consistency Before: Late Checks and Manual Spreadsheets Rent day used to mean waiting for mailed checks, making trips to the bank, and updating ledgers by hand. At the same time, your system reminds you that HVAC servicing is due next week and sends out the work order.

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6 Property Management Tax Mistakes: Are You Making Them?

Buildium

You have to keep your money separate from your owners, and youll need a trust account to handle tenants security deposits, all of which is regulated by the state in which you operate. Mistake #4: Keeping Inaccurate Accounting Records Weve heard it so many times from property managers.

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Marketing an HOA management company: What to focus on plus 8 strategies to keep and win clients

Buildium

Collecting Dues and Fees First and foremost, HOA board members want community managers to streamline the collection of dues and fees for them. Using an online payment platform can help you cut down payment processing times by as much as 70%, manage recurring payments, and help you deposit funds directly into the associations bank account.

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Community managers say these are the top issues impacting their associations

Condo Control

25% say lack of finances is a top concern. So, in one way or another, finances are putting a strain on condominiums and HOAs. The HOA can still regulate the size, design and architectural application process, for example. 30% are troubled by the fact that there is just too much work to do.