When you’re working with a professional San Diego property management company, one of the benefits to that relationship is that you’ll receive accurate, detailed, and transparent accounting statements every month, when your rent is paid. Your property manager can also run reports and help you keep careful track of all the income and expenses associated with your rental property or your portfolio of properties.
It is absolutely reasonable to expect accurate calculations and bookkeeping. If you’re not getting what you need in terms of accuracy with your reporting, you need to find out why. Otherwise, it may be time to find a new San Diego property manager. RentSimpli is a full-service San Diego property management company specializing in single family homes, townhouses, condos, mobile homes, small commercial buildings and small apartments.
Property Managers as Financial Stewards
You’re trusting your property manager with one or more of your largest assets. You’re also trusting them with all of your financial information. They have access to your bank accounts and your tenant’s bank accounts. They need to demonstrate that they can be responsible with that information and with your money and your asset.
Providing information that is inaccurate or incomplete does not inspire a lot of confidence. One mistake every now and then is to be expected. But if the accounting statements you receive every month have more errors than accuracies, you need to get to the bottom of what’s going on.
Technology and Property Management Accounting Software
One of the reasons that you should expect accurate calculations with your property management accounting is that most San Diego property management companies are using sophisticated and innovative software platforms that automate everything. The accounting associated with your rental property should be pretty easy to manage. Everything should be included in the software, which can then be trusted to provide accurate and transparent information.
If there’s a problem with the software your property managers are using, they need to know about it. There are several good and reliable systems out there, so you shouldn’t settle for something that allows a lot of errors to slip through. It’s simply not necessary with today’s property management accounting software.
Communicate about Accounting with your San Diego Property Manager
If you’re receiving financial information that doesn’t make any sense, or you’re finding a lot of errors, the first thing you need to do is talk to your property manager. Find out if there’s a reasonable explanation, and explain your need for reliable and accurate accounting data. The investment decisions you make depend on having access to good information, and you should never settle for anything less.
Hopefully, your property manager will address the issue right away and make sure your financial statements start making sense. If the problem does not get better and your management company appears helpless to fix it, you should consider looking for another management company. Mistakes involving your finances are difficult to defend, and you need to have an accurate understanding of how your investment property is performing.
We are experts when it comes to property management accounting in San Diego and serve landlords, investors, and property owners in San Diego, La Mesa, El Cajon, Chula Vista, Santee, Rancho Bernardo, Escondido, Fallbrook, Temecula, and Murrieta. If you need some help understanding your accounting statements, contact us at RentSimpli. We’d be happy to help.