7 Most Common Mistakes Made in Commercial Property Management
Having supported Commercial Property Managers for over a decade through a trust accounting business, I thought there would be value in identifying some of the most common areas where mistakes have been found. Good trust accountants identify and correct the...
Variable outgoings – how best to manage and reconcile them
For the uninitiated, variable outgoings (VOs), also called operating expenses, outgoings or common area maintenance (CAM) as they are called in the US, are charges to a tenant that are recoverable as per their lease agreement. They relate to general or...
Has the time come to offshore your property/trust accounting?
To answer the above question, it is important to have a quick look at how and why offshoring has emerged. History of globalisation Globalisation is loosely defined as the exchange of goods or services between countries. This has been happening for many decades now,...
Positioning your Commercial Property Management Business for Sale
For decades the size and profitability of a Commercial Real Estate Firm’s property management business has been at the core of the overall agency’s value.
Many partners and directors of these companies see their commercial rent roll as forming part of their retirement plan or superannuation, should they ever decide to sell completely or sell their shares internally to the next generation of property professional.
Real Estate Licensees’ guide to navigating trust account risks
Licensees have a special responsibility towards trust accounts which are strictly regulated by state laws. Licensees are entrusted with the obligation of managing bank account funds on behalf of others, hence the term ‘trust account’. It is thus important to be...
Avoiding the pitfalls when changing Property Management software
The below article will help you navigating the minefield of considerations in converting property management systems. There are a number of factors to consider when deciding whether to change property management systems (PMS). Some of these might be overcoming...