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Las Vegas Property Management Las Vegas Real Estate Rentals and Realty - Atlas Group
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UNDERSTANDING REPORTS
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CASH FLOW: TENANT MOVE-OUTS - When a tenant moves into the property, their Security Deposit
funds are put into your account. Consequently, when they move
out, you will NOT see an addition to the account balance for their deposit... it has been in the account since
they moved in. If the accounting for the move-out is completed
before your Cash Flow report is generated on the 10th, then
you will normally see the funds in two income areas. The gross
rent amount may increase covering any time they held over the
unit, and possibly an amount that they forfeit to cover repairs
and other outstanding charges.
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| OWNERS STATEMENT: TENANT MOVE-OUTS - Owners are constantly looking for "credit" from
the tenants deposit when the tenant moves out. What they forget
is that the account was "credited" with the deposit
when the tenant moved in. The funds show up under Security Deposits
at the bottom of the Owners Statement and are a part of the
overall balance remaining in the account from month to month.
Basically what happens, assuming that the owner is entitled
to the entire deposit, is that the funds are "free'd up"
for owners use by taking the Security Deposit total to zero. |
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