Improper tracking of rental income means you cannot easily determine who paid for what and when. This tracking is critical in a real estate investment. Tracking your income starts with creating Income Items and Invoicing correctly.
Poor cash flow management is the ultimate business killer, especially when it comes to real estate companies.
Common area maintenance otherwise known as CAM reconciliation is an essential part of managing commercial real estate.
Most commercial leases include Common Area Maintenance expenses. This means at least annually, you must complete CAM reconciliation.
Today, we are comparing STRATAFOLIO to a property management software called AppFolio.
For many commercial real estate businesses, the common area maintenance (CAM) reconciliation process could use some work.
Automation in commercial real estate businesses is crucial for efficiency and lowering overall costs.
A good chart of accounts is the foundation for good record keeping. This is true for all industries, including commercial real estate.
Common area maintenance charges (usually abbreviated to CAM) are often a part of a commercial lease.
Creating a well-written, well organized commercial lease will save you time and a whole lot of hassle.