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3 Reasons Businesses Want Chief Data Officers

Posted by Tricia Gopi

 

A Chief Data Officer (CDO) is a relatively new C-Suite position that sometimes overlaps with responsibilities of a Chief Information Officer. Nearly 64% of leading corporations have hired a CDO since 2018. CDOs are growing in prominence and relevance in correlation with the growth and prominence of data in business. There is some variance in what businesses expect from their CDO, but the position indicates a shift in business stressing that data is an essential part of modern businesses and needs to be represented at the highest level.

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Topics: Hiring, Economics, Organization, Finance, Reporting

1099-MISC Form: The Basics for Property Managers

Posted by Tricia Gopi

Anyone who is actively engaged in the business of leasing, renting, and managing real estate is required to provide 1099 forms. The most commonly used version of the 1099 form is the 1099-MISC.

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Topics: Advice, Economics, Finance, Reporting

4 Tax Incentives Property Management Companies Need to Consider

Posted by Tricia Gopi

There are a variety of tax deductions or “write offs” available to your business. Your options vary depending on what region your business operates out of. According to Intuit Turbo Tax, a company can generally deduct the cost of any business expenses incurred that tax year that were necessary to be operational.

Potential opportunities for deductions include travel expenses, training, software, interest, and even insurance.

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Topics: Advice, Economics, Finance, Reporting

Everything You Need to Know About Dirty Data

Posted by Tricia Gopi

It’s useful for businesses to review data insights and analytics by using reports to track patterns and trends. Data projections can be used to help when making important business decisions anticipating customer needs. When unreliable data, known as “dirty data,” ends up in the mix, your business insights can be compromised. Dirty data is inevitable. Studies show that executives believe around 33% of data is wrong. Even though it can’t be avoided, it should still be minimized. To safeguard your analytics against dirty data, you need understand a little more about it.

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Topics: Tips, Economics, Organization, Finance, Reporting

4 Ways Property Managers Can Use Reports

Posted by Tricia Gopi

Reports are an important function that businesses can use at every level of the hierarchy – boards, executives, middle management, and even administration. When reports are run on a regular basis companies can tap into the multitude of data available to them. Reports can give organizations easy to interpret summaries that make it easy to identify patterns and evolving trends.

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Topics: Technology, Budgeting, Economics, Organization, Finance, Reporting

4 Ways Property Managers Can Go Green

Posted by Tricia Gopi

Sustainability is no longer a passing trend, companies are committing to green business practices at an increasing rate. The questions often asked when presented with the opportunity to be more sustainable is: “is it worth it?” The short answer – yes.

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Topics: Property Management, Advice, Economics, Sustainability

The Basics of HOA Fiduciary Duty

Posted by Tricia Gopi

An HOA board of directors is the governing body of a residential community. The purpose of an HOA board is to make and oversee decisions regarding community assets and regulations. Most HOA boards are non-profit organizations where each board member serves based on trust. Fiduciary duty requires board members to uphold that trust by acting in the best interest of the community.

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Topics: Blog, Property Management, Accounting, Communication, Business Growth, Hiring, HOA, Economics

4 Ways Property Managers Can Reduce HOA Violations

Posted by Tricia Gopi

Covenants, Conditions, & Restrictions (CC&Rs) are a set of rules HOAs use to define what a homeowner can or cannot do. CC&Rs are implemented to maintain a fair standard of living across a community through conformity. 76% of people say that CC&Rs protect and enhance property value. HOAs can enforce CC&Rs by penalizing homeowners in violation using fines, forced compliance, liens, and lawsuits.

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Topics: Property Management, HOA, Economics, Customer Satisfaction

3 Things You Should Know About the On-Demand Economy

Posted by Tricia Gopi

The on-demand economy has been on the rise for over a decade, growing with the popularity of Uber and Airbnb. Since 2008, it has brought in billions of dollars from consumers who want instant access to services. Over 42% of Americans have used on-demand services, a number that research suggests won’t be slowing down anytime soon.

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Topics: Blog, Communication, Business Growth, Employee Satisfaction, Hiring, Digital, Advice, Economics, Customer Satisfaction

The Basics of ACH & EFT

Posted by Mitchell Vinnitsky

If you’ve been in business, even for a short amount of time, you’ve likely heard the terms EFT and ACH thrown around. You may have even heard them used interchangeably. But the truth is, while both of these acronyms represent a type of money movement, they are technically not the same. Here are a few important facts to keep in mind.

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Topics: Blog, Technology, Property Management, Accounting, Tips, Business Growth, Employee Satisfaction, Digital, Costumer Satisfaction, Economics

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