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- What are some of the tactics management companies engage to audit Bluemoon or lease apps against rent roll?
Topic: What are some of the tactics management companies engage to audit Bluemoon or lease apps against rent roll?
Topic Author
Lease Audits: I'm learning here so forgive my ignorance. What are some of the tactics management companies engage to audit Bluemoon or lease apps against rent roll? Confirm things like pet rent/ concessions/deposits/commissions ect. This is a new space for me so I'm trying to learn from the experienced what some of the approaches are. It seems like a big task.
Posted 2 years 2 months ago
I’ve found lease audit is exceptionally tedious (same as any audit). But necessary. It’s usually not the software causing probs, it’s the person entering info. Therefore, it requires a person print the lease info and go line by line to confirm everything important (dates, amounts, number of people in unit, and we always add pets while we’re at it).
Posted 2 years 2 months ago
My company audit leases monthly as in we do lease verification for all move ins and all renewals for that month, before paying commissions. We check name, occupants, lease terms, rent amount, any concessions given, pets and all the spots we have to manually enter data, to see if it matches company policy and the info we have on the system.
Posted 2 years 2 months ago
Topic Author
From what I have learned there are several factors that can have a significant impact on ROI and revenue. How much does garage / pet rent/ accelerated damages and concessions add up to if not input correctly. What does the wrong expiration date in rent roll vs applicant understanding mean? These are the things I'm trying to learn.
Posted 2 years 2 months ago
Every year I send out a questionnaire for updated phone numbers, any new occupants (some had babies), vehicle information, employment information and any other demographic information. I also ask for updated ER contacts. This is all uploaded into Yardi and we always have ways to contact people. It is vital.
Posted 2 years 2 months ago