Checking your property management statements

[johnnyb]

Hi All,

After going through the paperwork for this year's tax I came across a discrepancy in the PM fees I was being charged for one of my properties. It wasn't much (they were charging me about $3 extra per month), but it was still a bit annoying. It turns out the problem was in their PM software settings, where GST was being applied to an item twice. I didn't notice in each month's statement becuase the numbers looked about right (I don't bother calculating everything to the last cent for every statement, I just do a quick calc in my head). Most of you probably pay more attention to these details than I do, but if not this is just a reminder that you should every now and then.

John.

 

[phm]

Hi there

I also found an error in our monthly tax invoices.

The lease was renewed and the rent had increased by $5 per week. On checking the statement, I noticed that the first week in the new lease had not been increased by that $5.

I also found that the dates paid for the rent (which had always been correct) didn't roll over to the next month correctly, which meant the rent was again slightly wrong.

The PM corrected these when they were brought to her attention.

Ya gotta check.

 

[johnnyb]

As an amusing follow up to my original post, in the newsletter sent out by the agency they made a mention of the errors (sorry, discrepancy) in their accounts. Apparently this was revealed during an "internal audit"! Maybe I should ask to be sent a pay cheque as I appear to be employeed by them now.

John.