Real estate, book keeping, Rules for Bookkeeping

5 Ground Rules Of Real Estate Bookkeeping

For any real estate business, proper bookkeeping is a critical aspect of the business. What is the main goal of bookkeeping? The main goal of the bookkeeping is to have a standard and accurate records of all your transactions. Bookkeeping provides a clear record of financial transactions for your business which is useful for future reference. It assures that you …

3 Smart Moves To Improve First Year Depreciation in Real Estate

Real estate investments can be used maximize write-offs and minimize taxes. Investors can protect the income earned via rental real estate through depreciated deductions, especially in the first year leading to huge tax savings. This can be achieved in three different ways. 1. Cost Segregation Analysis According to the American Society of Cost Segregation Professionals, cost segregation study is “the …

4 Important Accounting Tips for New Real Estate Professionals

Real estate accounting is usually perceived as a tedious task, and pushed to the wayside. However, it is an invaluable activity that helps investors analyze the health of their operations, pay their taxes on time, and manage their income wisely. Therefore, all those in the real estate business need a strong understanding of the accounting and bookkeeping processes to improve …

Top 3 Bookkeeping Errors in Real Estate

The real estate industry has a number of operational issues that keep agents and investors busy throughout the day. There are issues related to rising interest rates, housing affordability, and policy changes that need to be dealt with on priority. There are sales and marketing activities that need to be pursued for new opportunities, and to sustain old ones. New …

4 Reasons Why Smart Companies Separate Real Estate Assets From Their Business

If you are one of those people who chooses to hold real estate and other assets separately, then you are doing the smart thing. The general reasons why people do so is because they fear liabilities that could affect property ownership or liabilities for injuries suffered on the property. However, the valid motive why anyone should choose not to combine …

Real Estate Companies Can Outsource Their Accounting. But Should They?

At the onset your fears of outsourced accounting can be assuaged in the knowledge that the real estate property management industry is one of the leading sectors to extensively adopt outsourcing in order to improve processes, cut costs, and scale limited overheads. In an earlier blog we talked about when it is the right time to outsource your real estate …

Yardi’s Genesis 2: a tidy overall review

Yardi is a very familiar name among property managers. This time they have come out with a new, versatile and cost-effective property management and accounting software, Genesis 2, for small to mid-sized portfolios. Genesis2 supports many property types – residential, commercial, affordable property, condos and HOAs (home owner’s association), self-storage, offices, retail – typically anything less than 1000 units or …