In our previous blog, we discussed the beauty of checklists and how they can save us from making a mountain mistake out of a molehill. The creation of a simple checklist can quickly and efficiently take your agency from one that makes countless small errors to one that runs seamlessly.

So at this point you have your agency checklists in full swing. After our last blog, you will have your Pre-End of Month Checklist for your Cloud-Based Software also in place. You are probably wondering how you ever did business without it.

So now we move to our next checklist…

New Management Checklist for Your Cloud Based Software

  1. Owners full names entered (as per agency agreement)
  2. Owners contact information including email address
  3. Select preferred method of communication for statements (if none is selected they will not receive any monthly statement)
  4. Confirm disbursement frequency and enter into software
  5. Enter agency fees (letting fee, statement fee, management fee)
  6. Enter bank details
  7. Enter full property address
  8. Create tenancy with full names (As per lease agreement)
  9. Confirm starting rent and period, most importantly – PAID TO DATE
  10. Update software with bond information
  11. Update software with tenant payment reference
  12. Apply funds from tenant deposit

Stay tuned for our next checklist to take your agency to the next level of organisation and efficiency.

– Jane Morgan is the Director of End of Month Angels, a consultancy firm specialising in Trust Accounting. Jane knows the legislative requirements of running a successful Real Estate office through her 21 years industry experience. Don’t trust just anyone with your trust accounting. Book an appointment with an End of Month Angel today.