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AGleizer

Setup Advice for Multifamily Developer

Posted By

Hello! Hoping someone can point me in the right direction -

My company only started 3 years ago and we are about to go into lease-up on the first 2 Apartment Complexes (in staged/tiered lease-up). We are hiring outside Property Management Companies that will report to us (weekly or monthly).

Would I be better off just uploading their detail into my system? Would I open up a new company for this or can I incorporate into the company already existing for the Construction?

Any advice would be great!

Annette

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    Hi Annette.  I am not a Sage expert by any means, but our companies sound very similar.  We are also 3-ish years old leasing up our first multifamily development.  I'm entering the property management's GL transactions as GL entries to the company/entity that owns the development.  That way I can get financials for the entity that include the property management figures.  Not saying it's the "right" or only way, but that is what we are doing. 

    I'd love to connect and maybe we can bounce other issues/problems/ideas off of each other.  Best of luck to you either way. 

    Brooke

  • 0 in reply to Brooke Parson

    Hi Brooke! Thanks for responding - I was leaning in the same direction and just wanted to bounce around some suggesstions. I would love to connect - I am in the Houston area (think you are too if I found the right profile on LinkedIn). I've worked in the RE Industry almost my entire carreer but this is my first in Multifamily. Let me know if you want to possible have a working lunch!

    Annette

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  • 0 in reply to Brooke Parson

    Hi Brooke! Thanks for responding - I was leaning in the same direction and just wanted to bounce around some suggesstions. I would love to connect - I am in the Houston area (think you are too if I found the right profile on LinkedIn). I've worked in the RE Industry almost my entire carreer but this is my first in Multifamily. Let me know if you want to possible have a working lunch!

    Annette

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