Property Manager – Chatsworth – Residential and Commercial Property Management
Efficiently Account for Increasing Expenses
As a property manager it’s vital that you efficiently account for increasing expenses. Here are three timely facts about how property management software can help you do this.
Fact number one: Using property management and accounting software, such as SS&C’s SKYLINE Property Management software, will help you to efficiently account for increasing expenses that are both a given in the real estate and are difficult to control. These expenses include, but are not limited to, common area maintenance, taxes, CPI increases and insurance.
Fact number two: One of the primary reasons that property managers use automated management and accounting software is to capture and control these expenses that they might otherwise miss.
Fact number three: There are many property management organizations, both large and small, that are still tracking these expenses using spreadsheets or outdated software that is not capable of automatically capturing and billing out these expenses.
If you are a property manager that uses spreadsheets or outdated software, here are some questions to ask yourself:
- Do you know what effect the drastic increase in natural fuel to heat buildings is having on your bottom line?
- How are you monitoring increasing property insurance rates or escalating taxes?
- Do you know what impact CPI increases are having on your net income?
- Most importantly: Are you accurately calculating and passing these (rising) expenses back to tenants?
When we ask property managers that last question the number of people whose answers range from: “Well, yes, I think so” to “No” is staggering. Many still use manual spreadsheets to capture and calculate these expenses. User error is always an issue when calculating anything manually. Using this type of information as a basis for submitting billings to tenants only compounds the problem.
Given the current economic conditions, the difference between using an automated system to calculate and bill out these expense vs. using a manual system can be the difference between success and failure.
The good news is SKYLINE Software is well known as the single best solution for automatically calculating, tracking and billing out these expenses.Used by thousands of successful property management companies, SKYLINE Escalations and Recoveries automatically calculates, creates and schedules complex escalations and pass-throughs such as CAM charges, taxes, insurance and CPI increases. These charges are then automatically written back to the occupant’s charge schedule. Bills are then automatically created for distribution of these expenses to tenants.
Using property management and accounting software such as SKYLINE helps to ensure that these increasing expenses are accurately calculated, tracked and billed back to tenants so that they DO NOT negatively affect your bottom line.
From: http://www.ssctech.com/
Carnahan Property Management Services Woodland Hills,West Hills,Bell Canyon, Hidden Hills, Calabasas, Canoga Park, Tarzana, Reseda, Topanga, Encino, Northridge, Van Nuys, North Hills,Chatsworth, Sherman Oaks, Studio City, North Hollywood, West Hollywood, San Fernando Valley, Granada Hills, Mission Hills, Simi Valley, WestLake Village, Agoura, Toluca Lake, Valley Village, Burbank. Call us at (818) 884-1500
