Let's be honest, starting out a small business is never easy. Keeping one afloat can be even more difficult. There are approximately 2.1 million small businesses operating within Australia. Of those, 54, 992 business went bust in the 2018 financial year, a 12.7% increase from the year before. On average, 60% of Aussie small business close their doors in the ... read more >>
The Time When You Don't Want to be #1 Each year we see trends come and go in the world of Trust Accounting. One month, it may be issues with cloud-based software migrations or reconciliations. The next, it may be keeping up with compliance or an increased prevalence of internal fraud. The regular theme for the month just gone was ... read more >>
As humans, it is natural to fear what we don't know. Information is power. When making the switch from server to a new cloud-based software, it is common to experience a certain level of resistance from some Landlords. Recently, we have been assisting one of our clients with the transition to cloud-based software. Whilst doing so, one of their Landlords ... read more >>
Unfortunately, Sales and Property Management often work as though that are polar opposites. Magnets resisting the push and pull of one another. It is sad that this is the case in many agencies across Australia. In my time within Property Management, the tension was so thick you could often cut it with a knife. And a good chef's knife at ... read more >>
Trust Accounting and Bookkeeping are very different entities. Yet despite being in different worlds, it is important that bookkeeping and trust accounting operate in succinct harmony. Some agencies may have one staff member managing the trust account and reconciling the general account. This is completely acceptable. Other agencies may keep the roles completely separate. Also acceptable. What is important is ... read more >>
Well, we all wish we were sitting on a gold mine. Whether it be a lost lotto ticket or a perhaps a buried wad of cash in our backyard. Chances are, we are likely to not ever come across either. However, you very well could be sitting on a very tidy gold mine in the shape of a rent roll ... read more >>
The Appeal of Rent Rolls There’s no doubt rent rolls are hot property in Sydney at the moment. The Inner West and North Shore areas are leading the charge as favourites where we have heard reports of agents paying in excess of $4.50. Rent rolls are a stable source of income if managed correctly. They are highly sought after by ... read more >>
Woah is it the end of the year already?! 2018 went very quickly and what a year it was. No doubt the highlight of this year was Jerome and I welcoming our son Marley into the world in April. He has been a constant source of joy for us and he’s settled into our life very quickly. Although Tracy officially ... read more >>
The mere mention of the word ‘strata’ is enough to have some agents running for the hills. But with the increase of apartment living in Australia, agents may wish to start looking at strata as another area to expand their business. So what is different between strata trust accounting vs normal real estate trust accounting? When it boils down to ... read more >>
Finding a good tenant is one thing. Tenant retention is another! Many would argue – "why should I care about the tenant?" Well, the truth is pretty simple. Tenants own properties too! They can, or may already be, landlords, purchasers and have a connection of friends and family with rental properties of their own. So in short, yes you should ... read more >>
