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Property Management Accounting: A Survival Guide for Non-Accountants Paperback – June 29, 2009

by Marc Levetin (Author),
Michael Monteiro (Author)
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Michael Monteiro (Author)
3.6 out of 5 stars 23 customer reviews
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Product Details

  • Paperback: 82 pages
  • Publisher: BookSurge Publishing (June 29, 2009)
  • Language: English
  • ISBN-10: 1439241619
  • ISBN-13: 978-1439241615
  • Product Dimensions: 5.5 x 0.2 x 8.5 inches
  • Shipping Weight: 5.6 ounces (View shipping rates and policies)
  • Average Customer Review: 3.6 out of 5 stars  See all reviews (23 customer reviews)
  • Amazon Best Sellers Rank: #264,658 in Books (See Top 100 in Books)

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Customer Reviews

Top Customer Reviews

3.0 out of 5 stars20 minutes and little to show for it.
By N. Gesner on August 13, 2010
Format: Paperback
I read the book cover-to-cover in about twenty minutes and couldn't believe it was (at one time) selling for nearly thirty bucks! I got more out of the first few pages than I did the remainder of the book because it seemed to say the same things over and over. It spends a large chunk giving examples of accrual accounting even though they state almost everyone uses cash-based. The basics of accounting (keeping two books, for every credit there must be a debit, etc.) could easily be explained in a couple pages. The difference between accounting for one property and accounting for multiple (property management) could be explained in a couple pages. Add a couple pages for the graphics and you've got a brochure, just like others have stated. Too much time was wasted saying the same thing over and over.

I've been using Buildium to manage 120 properties for a couple months. It works very well for me, simplifies a lot of processes, and has taught me quite a bit about property management accounting. This book added nothing. I originally thought of telling Buildium they should send this book to everyone that signs up for their software, but after reading it I don't think it would help anyone. They already provide video tutorials online that give much, much more information than this book does.

Bottom line: I don't recommend this for anyone, whether you use the Buildium program or something else. I wanted to expand my knowledge of accounting but it's clear I'll need to attend a class or get another book.
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4.0 out of 5 starsProperty Management accounting lite !
By Evil Queen on September 7, 2010
Format: Paperback
I am a Regional Property Manager that continually looks for training material for my onsite managment employee's. Many of our employee's start as Leasing Consultants and don't understand accounting or it's terms, which is critical as they progress up the ladder. August is the start of budget season, what better time to explain basic accounting to those that showed interest. At the end of the 45 minute session, my employee's had a better understanding of how all the accounting reports I review are intertwined by way of the General Ledger and what debits/credits really are. They now understand how a concession is treated and what it does to the financial picture. Just transferred an Assistant Manager from a cash basis property to an accrual based property and I used the definitions in this book to explain the difference between the two. We have a tendency to speak in pm terms when on the property and fail to realize that many of our employees are "Faking it till they make it". Embarassed to inform anyone that they really don't understand everything we throw out on a daily basis. I myself have been in the industry 20+ years, and this book would have been extremely helpful in those earlier years of my career.

For the small owner/operator that does not have any property management accounting skills ~ you need this book. I have recently taken on the management of two small assets that were owner managed, unfortunately they are now owned by the bank and although the loss of the properties to foreclosure isn't solely due to the lack of accounting it may have enlightend the couple to the severity of the sitution much quicker.Read more ›
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5.0 out of 5 starsShort, sweet, and to the point
By Gazar on March 1, 2010
Format: Paperback
If you're looking for a 30lb. textbook on accounting, this is not the book for you. However, if you're looking for a concise, well written guide to the basics of property management accounting give this one a shot. By reading the book and following the examples, someone (like me) who knows how to manage their personal finances but doesn't know how to properly "keep the books" for a property management company can gain the knowledge and confidence to do so.
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1.0 out of 5 starsNot very useful for Cash Accounting
By Goode on February 23, 2015
Format: Paperback Verified Purchase
This book has 82 pages. In the beginning of the book there is an explanation of Accrual Accounting vs. Cash Accounting, and it mentions that most Property Management companies use Cash Accounting. However, even though the Author mentions that most Property Management Companies use Cash Accounting - the majority of the book is based off Accrual Accounting (from page 30 to the end of the book).
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3.0 out of 5 starsGreat Intro to Accounting, but lacking in Association Management aplicability
By David J. Pio on November 16, 2010
Format: Paperback
Overall this is a pretty good introduction to accounting practices as they relate to a property management company. Where I believe the book lacks is in creating a specific chapter to specifically address association management versus apartment property management. While the larger focus at Buildium appears to be on apartment and rental management, they do market and offer packages for one off associations as well as association management companies. There are a lot of nuances in association management accounting that differ significantly from rental management accounting. Furthermore, much of association management uses a hybrid of accrual and cash accounting or modified accrual as its called. It would be nice if the software and book addressed this directly. But overall, I think the book is one of the better introductory texts for basic accounting principles, especially as they are applied to property management. At $9.99 the price is a little steep for the small book, and I think perhaps Buildium might be served better by offering the book as an ebook for free or for a nominal $3 -$4 as a way to draw readers into using their software package which is really were I think Buildium excels. An online tutorial covering the same information might also be helpful as interactive lessons could be built right into the package. This would allow for more concrete learning.
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Most Recent Customer Reviews

2.0 out of 5 starsBasic

Very basis information you can find online.

Published 3 days ago by L Lee
5.0 out of 5 starsFive Stars

Very good information!

Published 10 months ago by Chuck Erickson
4.0 out of 5 starsFour Stars

I'm still Reading it

Published 14 months ago by Mary Luna
5.0 out of 5 starsWorth the Money

Great Book.

Published 15 months ago by CCC
5.0 out of 5 starsIt was a nice short and quick read

I bought this book for myself for my new job. It was a nice short and quick read. I even loaned the book to friend.

Published 15 months ago by JEMMA CABRAL
5.0 out of 5 starsFive Stars

Everything arrived quickly and exactly as described online.

Published 16 months ago by Stephanie
1.0 out of 5 starsNo substance

No specifics, lots of generalities. Wish I could return this turkey for a refund. It gives you basic accounting principles but no property management specifics to put them in... Read more

Published on January 31, 2014 by Lonnie W. Ayers
5.0 out of 5 starsSmall, but succinct

I took an accounting class in college, but never caught on to debits and credits. After reading this book, I feel comfortable. Read more

Published on April 30, 2013 by Allen Forey
3.0 out of 5 starsHelpful but brief

I used this when I first started working as a bookeeper and had a new client in Property Management, I found it helpful although not a very in debth book.

Published on January 16, 2013 by Janet C. Ellis
5.0 out of 5 starsNice Help

Great Help for people who know nothing about property management. Its a great starter book. Something to get your feet wet.

Published on November 27, 2012 by ourwoofie

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