A property management company in Fort Collins needs to be able to handle every detail for homeowners who choose to hire us to rent their properties for them. From finding the right renters to making sure your property is maintained, a property management company does it all. One of the most important, but often overlooked, services a property management company in Fort Collins does is handle all of the accounting and financial side of renting homeowners’ properties. Mountain-N-Plains Real Estate Services, a top-notch property management company in Fort Collins, will review our accounting procedures we handle for our homeowners in this blog post. Contact us today!
HOW A PROPERTY MANAGEMENT COMPANY HANDLES HOMEOWNERS’ ACCOUNTING
- Collect the rent. While collecting the rent is intuitive, there can be a lot more involved, especially if the rent is late in coming.
- Pay utilities. Paying utilities can look different for different agreements set up with homeowners. Oftentimes, the renters are responsible for setting up utilities in their names. However, some homeowners prefer the property management company to collect this instead and pay the utilities.
Pay taxes and insurance. Again, different property management companies in Fort Collins will have different agreements with homeowners. In general, paying taxes and insurance for homeowners is what most property management companies in Fort Collins do.
- Monthly accounting statements. Mountain-N-Plains Real Estate Services believes in keeping our homeowners abreast of what’s happening with their homes. We mail out a monthly accounting statement, showing rent collected and applicable utilities and taxes paid.
- Monthly rental proceeds mailed out on the 10th of the month. It’s important that a homeowner has a regular schedule of when monies will be paid. Mountain-N-Plains Real Estate Services mails out rental proceeds on the 10th of every month so homeowners can plan accordingly.
- End-of-year statements, with all expenses and income listed. As a homeowner, you want to make sure you are getting adequately compensated for your rental property. A lot of rental property owners count on rental income for their monthly living expenses and knowing they are getting a valued service at a reasonable price by their property rental company in Fort Collins is crucial.
No one really likes accounting, except accountants — and even then tax time is not their favorite time of year. Yet, knowing where your money is going is something we all have to track.
Mountain-N-Plains Real Estate Services in Fort Collins understands that you are trusting your money to be prudently handled by your property management company in Fort Collins. We are diligent in our tracking procedures and make sure every penny is accounted for. As your chosen property management in Fort Collins, we make sure we are prudent ourselves with where we spend the money you pay us for renting your home, so we can keep your property management fees low. We do our utmost to contract with local maintenance crews, locksmiths, real estate agents, and other services in order to get the best price. Our property management fees are set to cover our costs and then make our profit. We don’t charge for miscellaneous items just because we can do so. For property management in Fort Collins, contact us today!