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  by Robert Lett

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GETTING THE MOST FOR THE LEASE-TRACKING YOUR REAL ESTATE

If you own rentals and/or investment properties, you know that you have to keep track of your portfolio, maintenance profiles, property managers, and related financial matters. There are a multitude of programs for the Palm- Pilot system to keep up with lease dates, lease expirations, and rent due dates. They will let you know when to send late notices and how much the late fees are for each rental you have in your list. Most of these programs will also alert you when you have a lease that will expire within the next two months, this allows you to prepare a new lease contract or plan the repairs and marketing for the unit. They'll even give you yearly totals spent on property management fees and maintenance fees, and bounce those amounts against your rents collected. This will give you an idea of how the property is performing. Some will even "conduit" to your computer when you HotSync, which allows you to create Excel spreadsheets for the data produced.

These programs will also store information associated with each individual property, such as who the handyman is for that property, warranty company contact information, insurance information, and tenant contact information. Most programs out there will allow you to log and track the Gross Scheduled Income (GSI), Gross Operating Income (GSO), Net Operating Income (NOI) and Cap Rates for each property in your portfolio.
 
     
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