Common Area Maintenance is a highly complex task in itself. The CAM reconciliation process can be a further hassle due to the multiple stakeholder involvement. It is time-consuming and tedious, but extremely important to have proper reconciliation done. Commercial Real Estate CAM reconciliation...
By Kriyago
For any real estate business owner and manager, their professional life is filled with their own duties and juggling around many odd jobs. Manually doing these multiple odd jobs can turn into a huge curveball in the long run. From rent collections to sending reminders for payments, there can be endl...
As Financial Accounting Standards Board (FASB) released new lease standards, you must get a proper lease audit to stay on track. This has complicated the lease abstraction process, which is one of the biggest reasons you need to audit your lease. If you do not have all your data and terms in place, ...
MiCasa is one of the best property management software when your business is running on a budget. From property management to streamlining the communication system in real estate firms, MiCasa comes to use in multiple needs.
Want to understand the uses of MiCasa for your real estate busin...
Lease accounting is the process of understanding the impact of your companies leasing activities on its finances and cash flow. Though this sounds simple, it is a much more complicated process in reality and has put many companies under the FASB and SEC radar quite easily. If you do the lease accoun...
Real estate property management is much more than just making money. If you are a property manager and owner, it is challenging because you are forced to wear a number of hats. There are endless tasks that no one has prepared you for. But these property management tasks are crucial nonetheless and n...
According toiPropertyManagement, maintenance and efficiency are the two major challenges for property managers, and if there's a way to get around this, it's through Kriyago Blox!
To make your property management job easier, you can now integrate all the platforms into one and reduce the...
Common Area Maintenance (CAM) reconciliation seems pretty simple at the outset. You just add up your costs and pitch them against your budget to close your books.
However, the reality is far from this ideal picture. Most real estate agencies are left scratching their heads trying to figure out ...
Managing a property is no easy task. You have to take care of endless responsibilities that include maintenance, coordinating with vendors, paying staff on time, and more.
Each property you manage brings more tasks to the table and can soon overwhelm your time. The situation is more common than...
While marketing is essential to run a real estate business, accounting is another vital area that cannot be neglected. Accounting in real estate is not like other sectors; it's a complex and tedious process that can be easy with the right software, but not all businesses invest in having a functiona...
If you're planning to lease out your property, you may have to consider getting a lease agreement prepared before looking for tenants. Lease agreements are written documents to safeguard your property from damages or any legal issues with the Tenant. All the clauses mentioned in this agreement shoul...
Property management is a demanding job. Unlike a 9 to 5 job, managing properties requires you to work at your client’s convenience. On top of that, property managers also need to handle marketing, legal work, maintenance, and other tasks. Looks challenging? You can overcome most of your business obs...
With the growth of your real estate business, non-core tasks such as accounting, administration, and compliance can become hard to manage. Instead of hiring more staff, you can choose to outsource these back-office tasks. Outsourcing has numerous benefits which is why over more than a third...
Modern-day property management software has made real estate processes easier. With several options, real estate companies struggle to make the right technology choices. Proper planning of business goals can help you define your technological needs. If you want to automate several processes, then on...
Cloud migration is becoming increasingly popular and for all the right reasons. Recent figures from the 451 Research Group show that 90% of the companies use some form of cloud computing. Moving to the cloud has several benefits such as reduced costs, improved security, and more storage sp...
Leases are bulky but essential documents in every real estate business. These documents carry important clauses, making lease management even more difficult. Reading leases every time a tenant wants to sign them can be time-consuming. Instead, lease abstracts serve as a summary of the original docum...
The real estate industry deals with a large number of transactions every day. In 2020 alone, 5.64 million existing homes were sold in the US. These transactions also vary in magnitude from huge property investments to small maintenance expenditures. That’s why accounting and bookkeeping pl...
The Covid-19 pandemic brought unprecedented changes to every global industry--including real estate. Companies are making up for the lost time by rethinking their work strategy. As more employees have started working remotely, property managers are also considering outsourcing.
Outs...
Common Area Maintenance (CAM) reconciliation sounds simple. Just add up all common area expenses and divide them among all the tenants. But in reality, it is a complex and time-consuming process.
You might miss certain expenses or end up overcharging your tenants. Additionally, any ...
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