Real Estate Investment Property Management Statement tracking in Wave
We have 3 investment properties managed by a Property Management company, they collect the rent, take off various expenses then send the rest as one deposit to the bank account. Our bank account is linked so we see the final deposited amount but need a way to account for the various expenses which I can do as we have for utilities for each property but to make all balance I'm unclear with how I should track the rent amount collected by the PM. Example would be 2 apartments with rent income of 2x $1500, Income prepaid utilities $100, landscaping expense $100, Property Management expense $300. Deposited into our account is $2700. Is the best way creating an invoice every month with revenue collected less expenses?