Record Keeping – Best Practices for Landlords in Greenville

System - Monday, September 18, 2017

Knowing the best practices for record keeping will help you keep track of the performance of your rental property and allow you to document everything you need to track. At Convergent, we have a streamlined approach to record keeping, and we use an online software application. Online technology allows any Greenville property management company to keep all the records pertaining to an owner’s property accurate and transparent.

Leasing and Inspections

Our software helps us manage everything from the application process to the leasing process to the ongoing management of your rental property. We use our online system to keep applications organized, to track and document move-in inspections, and to include pictures and videos in those inspections. We also conduct a six month inspection and a move-out inspection. We keep careful records of every step of the process. Everything is kept in the cloud with our online software application.

Tenant and Owner Portals

This system of record keeping is easier for tenants and owners because it gives them immediate access to their information. Owners can go to our online portal and view their invoices, see when the tenant paid, and review any fees that came out of the rental amount. They can also see what they were paid. This makes record keeping easy at the end of the year because you can deduct maintenance expenses from your taxes. Clarify this with your CPA, and be sure to take advantage of all your potential tax breaks.

Security Deposit Allocations

In South Carolina, you have to keep security deposit records for many years. We keep them in the cloud, which means they are readily available whenever owners, tenants, or government agencies need to see them.

In the property management business, there is a lot of paperwork you need to hold onto for several years. If you have a streamlined approach, it makes it much easier to access those records in the future.

Please contact us at Convergent Property Group for any help with property management in Greenville.