Maintenance Charges Revisited

A couple of weeks ago we looked at the importance of detailing maintenance charges out by your different properties.  I would be remiss if I didn't take that concept one step further.  Demand your vendors (if you use a third party) to detail out their charges on an invoice and then apply those details to different categories inside your QuickBooks or accounting program.  It is imperative to understand if you have an appliance that is costing you way more than it would be to replace it.  Use categories like: HVAC, flooring, roofing, landscaping, sprinklers, kitchen appliances, paint, etc. to determine your charges by property and by category.  As a landlord you are an investor and investors demand efficiencies out of companies they put capital into, treat your properties the same way.  Posted by LandLordStation