Real estate tips and trends

For decades the size and profitability of a Commercial Real Estate Firm property management business has been at the core of the overall agency value. Many partners and directors of these companies see their commercial rent roll as forming part of their retirement plan or superannuation, should they ever decide to sell completely or sell their shares internally to the next generation of property professionals.

Licensees have a special responsibility towards trust accounts which are strictly regulated by state laws. Licensees are entrusted with the obligation of managing bank account funds on behalf of others, hence the term ‘trust account’. It is thus important to be familiar with all legal obligations imposed relating to trust accounts some of which are discussed below.

The below article will help you navigate the minefield of considerations in converting property management systems. There are a number of factors to consider when deciding whether to change property management systems (PMS). Some of these might be overcoming shortfalls with existing solutions or accessing the latest technology to future proof your business and not fall behind the competition. This article is not intended to help you with that decision (that will be the subject of a separate article) rather, it is to help you navigate the various pitfalls that could cause the change in systems to go wrong.