Fee Download Property Management Accounting: A Survival Guide for Non-Accountants, by Marc Levetin, Michael Monteiro
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Property Management Accounting: A Survival Guide for Non-Accountants, by Marc Levetin, Michael Monteiro
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In this day and age, we're lucky to have software that takes care of the nuts and bolts of property management accounting. But even with software, you'll find it much easier to keep accurate records if you have an understanding of the basic accounting concepts upon which these programs are based. Buildium's Property Management Accounting teaches you these concepts with property management specifically in mind. Don't worry if you don't have an accounting degree or previous bookkeeping experience. This guide will arm you with all the information you need. And if you do have an accounting background, you'll find some great refresher information inside as well.
- Sales Rank: #176045 in Books
- Published on: 2009-06-29
- Released on: 2009-06-29
- Original language: English
- Number of items: 1
- Dimensions: 8.50" h x .19" w x 5.50" l, .23 pounds
- Binding: Paperback
- 82 pages
- ISBN13: 9781439241615
- Condition: New
- Notes: BRAND NEW FROM PUBLISHER! 100% Satisfaction Guarantee. Tracking provided on most orders. Buy with Confidence! Millions of books sold!
Most helpful customer reviews
0 of 0 people found the following review helpful.
Very Informative
By Je'Mira
This is actually very informative. It's a quick read. If you are already knowledgable on Accounting basics, I recommend this.
22 of 22 people found the following review helpful.
20 minutes and little to show for it.
By N. Gesner
I read the book cover-to-cover in about twenty minutes and couldn't believe it was (at one time) selling for nearly thirty bucks! I got more out of the first few pages than I did the remainder of the book because it seemed to say the same things over and over. It spends a large chunk giving examples of accrual accounting even though they state almost everyone uses cash-based. The basics of accounting (keeping two books, for every credit there must be a debit, etc.) could easily be explained in a couple pages. The difference between accounting for one property and accounting for multiple (property management) could be explained in a couple pages. Add a couple pages for the graphics and you've got a brochure, just like others have stated. Too much time was wasted saying the same thing over and over.
I've been using Buildium to manage 120 properties for a couple months. It works very well for me, simplifies a lot of processes, and has taught me quite a bit about property management accounting. This book added nothing. I originally thought of telling Buildium they should send this book to everyone that signs up for their software, but after reading it I don't think it would help anyone. They already provide video tutorials online that give much, much more information than this book does.
Bottom line: I don't recommend this for anyone, whether you use the Buildium program or something else. I wanted to expand my knowledge of accounting but it's clear I'll need to attend a class or get another book.
16 of 16 people found the following review helpful.
Property Management accounting lite !
By Evil Queen
I am a Regional Property Manager that continually looks for training material for my onsite managment employee's. Many of our employee's start as Leasing Consultants and don't understand accounting or it's terms, which is critical as they progress up the ladder. August is the start of budget season, what better time to explain basic accounting to those that showed interest. At the end of the 45 minute session, my employee's had a better understanding of how all the accounting reports I review are intertwined by way of the General Ledger and what debits/credits really are. They now understand how a concession is treated and what it does to the financial picture. Just transferred an Assistant Manager from a cash basis property to an accrual based property and I used the definitions in this book to explain the difference between the two. We have a tendency to speak in pm terms when on the property and fail to realize that many of our employees are "Faking it till they make it". Embarassed to inform anyone that they really don't understand everything we throw out on a daily basis. I myself have been in the industry 20+ years, and this book would have been extremely helpful in those earlier years of my career.
For the small owner/operator that does not have any property management accounting skills ~ you need this book. I have recently taken on the management of two small assets that were owner managed, unfortunately they are now owned by the bank and although the loss of the properties to foreclosure isn't solely due to the lack of accounting it may have enlightend the couple to the severity of the sitution much quicker.
I would not suggest that you use this guide as your sole resource, however if what you need is a simple to understand guide as to property management accounting terms and simple accounting entries then this is definately a good place to start. Knowledge is always worth something ... best $10 that someone searching for this information can spend.
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