Property managers: Do you hate doing the accounting tasks?

by

SarahJohs

Property managers are among those few employees who almost work as hard as start up and small business owners. It has to do with the amount of things they have to take care of and the number of things they are held responsible for. An average day for a property manager is a very busy one covering everything from tenant screening, ad posting, talking to prospects and accounts. Yes you read right. They are also responsible for accounts. Amid the thousand things they have to do in one day, accounting is the most time consuming task.

One of the main things that make accounts difficult is that most possession holders/managers have no accounting experience. This means, they will need longer hours to complete basic bookkeeping with accuracy. It also means they can t multitask when doing this particular task. Now think of how much time is lost in this single task alone. You may wonder why property management companies don t hire bookkeepers and accountants.

There is an affordability factor involved

While the bigger concerns of managing the possessions can afford to hire bookkeepers and accountants full time, the smaller companies can t afford this. As a result this becomes an additional responsibility for the realtor. They somehow have to squeeze in time for this from their busy schedule. Ask any real estate professional which task he/she wishes they didn t have to do and they will tell you that it is accounting. Everything else is pretty much manageable.

Just when you think that there is no solution to this misery, there actually is. The biggest problem such companies have with hiring a bookkeeper is the cost. What if there was a way to get the same property management accounting at a low rates?

Yes, it is possible through outsourcing

It is now possible for such companies to successfully outsource their accounting task which is exclusive for real estate companies. You don t have to worry about the accountants being unfamiliar with the accounting software that is used. When it is an exclusive service, you can be sure that the BPO has sufficient knowledge with common property management accounting software.

Realtors can scan and send across the documents to the BPO concerned or they could simply give them remote access. Both methods are equally efficient. The costs is only a fraction of the amount it would cost to hire bookkeepers. Another great advantage is that you can choose how many hours you want the bookkeepers there to work on your task.

All in all, this is the best way to get rid of the accounting burden is to take up

property management accounting

with a credible BPO.

property management accounting

Article Source:

ArticleRich.com