No way. I don’t understand why anyone would put themselves through that pain. When we first started 6 1/2 years ago and we only had a handful of properties we started with a computerized system right away. As the business grew we then had the systems already in place. I read somewhere years ago you should be operating now how you want your business to be in the future. Get all of your systems in place as soon as possible so then as you grow you have everthing already in place.

Margaret www.dmrealty.com.au

I use to!  When I first started out on my own, I had no intention of running property management.  I found that I was giving business away and decided to start one up.

I did everything by hand and it takes forever, especially when the phone rings and you loose count and have to start over..ect.

In answer to Margaret’s comment..I did it by hand as I could not afford to pay the up front start up costs and monthly ongoing fees ect.  I did this for 18 months!  All weekend doing end of month!

Looking back..Had I have known, I would have made getting some type of system in place my first priority!  SO much more time.  Not to mention..it is so much cheaper when the Auditor comes in…

Hi Frank

It is a cost cutting measure when you are first starting out, however it is best to get your records computerised as soon as possible with a program that is reputable.  It not only saves time, it gives the auditors far less to query when they’re around.  The cost of implementing a system is really worth it and you can concentrate on being a Real Estate Agent and not an accountant.  I have trained on these systems for 6 years now and happy to give you more advice, should you need it.

I did buckle but went for a very cost effective solution – it has made life easier. Just misses out on some of the whistles and bells of the mainstream programs (eg: progenisys).

AAhhh, I remember the days …. trusty ribbon calculation machine … up to 2 am trying to find PM’s errors to balance .. then having to send 2/3rds of our minimum monthly balance off to the office of fair trade … it made it hard to run any “big” numbers of properties. OOps, showing my age, I will stop now.

Well, I use Excel and have no dramas. Off course sometimes I create input errors but c’est la vie. I can live with it. Will look at a program if I get much more properties to manage.

Hey Peter, well remember the days also. We had Kalamazoo system..(anyone recall those big books) and at the end month as members of REIQ we would bundle it all up and send to them, and they would provide the finalised list of amounts and accounts to deposit to landlords. Then out with the stacks of deposit slips, fill them all out and in the car allover the place hand delivering to the respective banks.. Good few hours every month..(300 or so properties..) Just as well we didn’t do mid-month in those days..!!

Boss finally got onto this computer idea, and contacted RETAS systems in W.A. Computer duly arrived and sat in the corner for about a week as we wondered how to even turn it on. I finally got curious after hours, pushed the button and voila… and have never looked back.

Funniest part about all this was when I did turn the computer on, the screen started off by (simulated) exploding in a maze of orange sparks and flashes and then scrolled a message that said…

That was just a myth exploding, you can’t damage this computer by working with it..now let’s get started. and the training menu opened.. way cool at the time..;))

Yes Ian, and there was a dedicated Property management System, called 0ne Write, or some thing similar, if I recall correctly. Those were the days. Now if the power goes out the team want to go home ….

Hans, have you had your accountant confirm that the way that you have excel set up, complies with the requirements of the ACT?

Hans, and Peter W, it does depend on your state legislation as to whether a manual system is acceptable at all.  In NSW, they pretty much require that you use a computerised system, however it may be different in WA where Hans practices.