Property Dashboard is simple real estate property software that keeps the agent connected to each property by helping the agent manage reimbursements (reo and bpo) and closings. This program is still in development and I would like to get your 21-day trial review.
Click Here to download your trial.
This program is not Windows Compatible!
If you have any questions or comments, contact me!
Carolyn Nelson | www.onlinerepa | 919-399-4543
Don’t Forget Your Utility Deposits!
REO Brokers and Agents are sometimes required to pay a deposit to turn on the water, gas, and electricity on properties. These deposits are often forgotten when it is time to submit all final reimbursements to the bank. If you are using QuickBooks, don’t forget to record the deposit as a payment due from your client (REO Bank). By doing so, the amount will remain as unpaid and can be used as a tickler. You can record the amount as a separate invoice or add to the first invoice submitted for reimbursement. Don’t be alarmed if the bank does not pay the that expense. Deposits are refundable.
However, since the utility company will subtract the last and final invoice from the deposit, you will need to retain a copy of the deposit check and original supporting documents to prove to the REO bank that you did pay a deposit to turn on the utilities. It is also a good idea to make a copy of the front and back of the cleared check.
If you are not submitting your final bills because it shows a credit, you are throwing your money out the window.