FINANCIAL REPORTING

• Transcript

  Speaker 1: Hey, everyone, it's Ryan Leonard with Wolfnest Property Management. Today wanted to talk to you about one of the benefits of having Wolfnest manage your portfolio is the financial reporting. Now, if you've been a DIY owner, you've probably worn a lot of hats. Maintenance tech, a leasing agent and probably the most important is a accountant. And when you have investment properties, there's a lot that goes into that accounting piece. One of the cool things with Wolfnest is that we are that accounting piece for you. We handle everything, again, from the rent collection, the security deposit, dispositions, the 1099, the income reporting and more importantly, we track everything down to the GL code or that line item. So, if you are a client of Wolfnest, you are going to have your own secured portal, which at any point during any month, you can look at either a specific unit or building or even your entire portfolio and get snapshots of whatever you may need.  

  Another cool feature is you are able to see security inspection reports in that portal. You will also be able to see work order and invoices that have been completed with detailed notes on what exactly was done. Now again, one of the benefits with us and or being with Wolfnest is that this information is here forever. So, if you are a client and let's say you offload one of your portfolios or one of your properties and you need the 1099 or a cash flow summary report from 2013. Great. If you are with us at that time, we'll be able to get that information for you. And once you're a client with Wolfnest, we will always have that information. So again, another great feature is the accessibility, even after you're a client. Again, it's a lot better than having that folder just, you know, stashed away in the kitchen with all those invoices and receipts.  

  So, another great feature is the detailed reports. If you want to see a vacancy report at the end of the year. Great. We can provide that to you. If there's anything like a breakdown of yearly maintenance expenses broken down by GL code, great. You see that you've spent five hundred and fifty dollars every year repairing that swamp cooler. Maybe it's time that we need to update that and put a new AC unit in or that new unit so you can stop hemorrhaging that money. So again, one of the coolest parts about having a property manager is that financial reporting piece. Not to mention, having a property manager is an operating expense, so something that will qualify as a deduction come tax time.  

  If you want to talk about your portfolio or dive a little bit deeper, see some sample reports of what those monthly statements look like, I'd be happy to help you with that. Feel free to reach out. Here's my phone number, my email. Give me a call or shoot me a note, and I'll get right back to you. All right. Look to hear from you soon. Thanks, guys.  

With our detailed financial reporting tools and online owner portal, it's never been easier to keep tabs on your investment.

We track your financials and reports to you monthly through our secure, automated web-based accounting systems. With our detailed financial reporting tools, you’re always a few clicks away from checking-in on your investment.

Each owner has a secure folder on our website/inside the owner access portal which includes video inspections of the property and downloadable copies of the management agreement, the lease, paid vendor invoices, and monthly and annual financial reports – all available for download.

• Tracking payments, expenses, and all other property related finances can be time consuming and confusing. Our team uses Appfolio to track and manage these for you, so they can be organized clearly and reported to the owner.
• Owners are paid by direct deposit to their chosen bank account by the 10th of every month.
• Owners will receive a 1099 form at year-end for tax preparation.
• We also provide an annual summary owner statement per property.