Real Estate Business

Hi,

Actually im happy on this software, but im just wondering if this software works for real estate and property management?

Im trying to figure out the char of account.

Is there a template of chart of account to choose dependeng on your business same as other softwares?

Thanks

Liza

Yes, but as you generally hold funds on trust on behalf of owners you would use Special Accounts.
Read this guide: https://www.manager.io/guides/10555

The P&L accounts would be the same as any other business.

Hi,
Thanks for the reply.

For real estate (leasing) company-regarding inventory module of the system, I’m thinking to use the inventory module for property listing. So the available units for rent is in inventory list. Then once rented for the year, I will check inactive on the item. Once available again for rent, I will create another inventory item.

For property management company - will use the special account for the trust fund on behalf of the owners.

Our company has a leasing company which is different from property management company.

Thanks

Lizza

I use manager for real estate alternative investment funds. If I can make a suggestion I prefer use inventory for the whole building with the same destination of use (residential, commercial and so on) and inventory kits with a lot of custom fields to keep track of the cadestral and management data’s. I use inventory kits in a sort of reverse mode: each inventory kits is a subpart of the inventory item.

Why don’t you just make the inactive inventory item, active again, so you don’t end up having multiple inventory items for the same unit.