Overview
DoorLoop's new budgeting feature is essential for property management companies, offering key functions, such as:
Financial Planning - creating comprehensive plans for properties or portfolios, ensuring that income always covers expenses, and mitigating potential losses.
Expense management & tracking - track and manage expenses, enabling property managers to allocate funds efficiently, controlling costs and minimizing overspending.
Revenue Projection - estimate future rental income and other sources of revenue vs expenses.
Cash Flow Management - ensure that there is enough liquidity to cover ongoing expenses and capital improvements. This is especially important for HOAs, which collect association dues to manage expenses.
Investment Attractiveness - provide financial forecasts and budgets to assess the attractiveness of a potential investment.
Reporting & Transparency - facilitate transparent reporting, helping build trust and ensuring that all parties are well-informed about properties' financial health.
Note: The Budgeting feature is not available for Starter Plans. Please consider upgrading to the Pro or Premium plans to use this feature.
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