Page 20 - NestPM_ThePlaybookWeb

Accounting

Keeping track of your money seems like the most mundane of our activities when
you consider the maintenance needs, particularly emergency maintenance, and
customer service – anyone in the customer service industry knows those interactions
are anything but ordinary. And, we hope that accounting for your money is the most
basic task we perform routinely. Rent collection, paying bills, disbursing the net gains
to you. Simple, right? We hope it looks that way!

In reality – its much more complicated. “Simply” paying a bill is a process that
involves most of our team members to ensure it happens appropriately and that
your money is protected. The person who signs the checks, shouldn’t be entering the
invoices. There is a process involved to ensure against impropriety and to protect
accuracy. A bill is entered by the Accounting Operations Manager, approved and
reviewed for correctness by the Property Manager, processed by the Operations
Manager and finally signed by a Principal, before distribution to the vendor.

Owner’s Statements and disbursements (your money) are sent on the 15th of each
month. So – we collect the rent on the 1st, pay the bills associated with the property
for the month, and send the remainder to you on the 15th – at your discretion via ACH
or paper check. We typically will email the statement, but can send it via mail if that is
preferred.

20 NEST PROPERTY MANAGEMENT | THE PLAYBOOK