Owners want to see financial reports, which include the income and expenses for a detailed time period. Property management companies issue financial reports to their clients on a monthly basis.
Throughout the month, different expenses may arise, such as a payment to a plumbing company who fixed a leaking drain or for a flooring company who refinished a living room floor in a vacant unit. Each expense should be clearly itemized for the property owner to see on a regular basis. It is the responsibility of the property management team to watch over and maximize their clients’ financial productivity. Optimal Property Management uses the Yardi accounting system. This is an accounting program which is designed specifically for property management providing our clients with clear, detailed monthly and yearly financial reports.
It has been customized to meet our exacting standards and owners requirements. Our monthly statements and financial reports are informative and easy to understand.
Optimal Property Management accounting system is capable of providing all the financial reports you need for tracking income and expenses as well as tax compliance. Rent is thoroughly recorded and all requested invoices are paid promptly.
Financial statements are sent by e-mail during the last week of each month. We can customize our statements to fit your requirements. Just let us know what is best for you. Owners’ balance is deposited via online banking into the bank of your choice along with the financial reports.