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Onboarding Day 1: Intro to Property Management and APM
Terms in this set (15)
What is a property manager?
An individual or company who manages or operates real estate on behalf of the property owner.
Property managers who own and manage their own properties, and they do not have to pay a monthly management fee to anyone.
Property manager who manages properties on behalf of owners for a fee.
Combination Property Manager
Property manager who is an owner-operator who has built a strong management company and can manage properties for other owners while managing their own portfolio.
Supported Property Types
1. Residential (multi-family, single-family)
3. Student housing
4. Community Associations (HOA, condo associations)
Monthly Accounting Workflow
Week 1: receivables
Week 2: payables
Week 3: owners
Week 4: reconcile
What happens during week one (receivables)?
A lot tenant logins, tenant receipts, new bank deposits, and late fees.
What happens during week two (payables)?
Entering bills, writing checks, and paying any management fees.
What happens during week three (owners)?
Paying the owner(s), and sending owner packets.
What happens during week four (reconciling)?
2FA is required for users who have access to view screening reports, bank information, etc. True or false?
What is 2FA?
Two-factor authentication or multi-factor authentication. It's an additional security measure upon log in. The user will receive a text message with a verification code.
What is one benefit that AppFolio's Property Manager brings to our clients?
You can work from anywhere, one stop shop for all their needs, less paper, visibility, less paper, audit-proof business, etc.
What's the difference between an HOA and a regular unit?
What are the seven Value Added Services?
1. Maintenance contact center
7. Premium leads
Sets found in the same folder
Property Management Accounting
Onboarding Day 2: Leasing Functions
Day 5: Intro to Accounting
Day 6: Receivables and Online Payments
Sets with similar terms
Chapter 18 - Property Management
Real Estate Property Management
Chapter 10 quiz
Other sets by this creator
Day 8: Payables
Day 12: Transferring Funds
Day 7: Move in Flow and Online Leases