#AARCONV Sneak Peek: Is the income from one rental property worth losing your license?

Sneak Peak

Offering property management services to your real estate clients may seem like a good idea, but not knowing how to keep records or how to properly represent your clients, may cause you to lose more money than you stand to make. Join panelists Sue Flucke, Mike Mumford, and Denise Holliday on Tuesday, April 15 from 8:30 a.m.-11:30 a.m. as they discuss the ins and outs of property  management, co-mingling funds, security deposits, insurance requirements and the “reluctant property manager” during their Do it Right or Get the Heck out of Property Management presentation at the upcoming AAR Spring Convention.

According to property manager veteran, Mike Mumford, these seven questions need to be addressed by property managers:

1. How do you separate funds?

2. What is co-mingling funds?

3. Who’s allowed to be a signor?

4. Who get copies of receipts?

5. What type of insurance is needed?

6. What information should be included in an Owner’s Statement?

7. Which form(s) should to be filled out?

Is the income from one rental property worth losing your license? Get more insight into the correct procedures and policies for your property management business at the upcoming AAR Spring Convention. Follow along on Twitter or Facebook using the #AARCONV. Full convention passes are only $179 and one-day passes are $79. Register today!

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