Cash Management For the Multifamily Property

June 20, 2009  //  Posted by: Home & Estate  //  Category: Family Holdings

nullA multifamily property is one where there is more than one family unit in a rental property. These can include two units duplex, which is the smallest multi family property to large rental complexes. Its main advantage is that it provides real estate investors support the debt from this income. One should buy profitable multi family properties as the investment on this front should cover the debts and other expenses for keeping the property.

There should be checks for effective cash management. These checks can be on different areas, such as petty cash, cash accounts integrity, payroll expenses, spending on capital projects, fixed costs, inventory maintenance, daily variable expenses, and many more. There should also be a review of the time sheets by managers along with the taxes. One should also audit the checks written and cashed. Supply accounts should be maintained. An inventory system should be maintained so that supplies are used effectively on the property.

These measures can help you manage your cash efficiently. Systems like inventory system, time sheets and others are needed for proper functioning.