Lease Commission Tracking
Spreadsheet link for the lease commission tracking
Refer to the recording here for a brief overview of the process: Link
Spreadsheet Updates: Each time a lease is completed:
- Enter the lease start date, property address, monthly rent, commission percentage, and leasing agent details.
- Leasing commissions are typically 30% of one month’s rent.
- Complete Controller uses this sheet to process payments.
Application Processing & Realtor Payments:
- Tenant applications must be linked to their representing realtor.
- Ensure leasing invoices and W-9s are received for payments.
Accounting & Workflow Coordination
- Two Accounting Teams:
- Complete Controller: Handles corporate finances, including payroll, membership services, and leasing commissions.
- APM Help: Manages rent payments, security deposits, tenant ledgers, and maintenance costs in AppFolio.
- Daily Responsibilities:
- Monitor the leasing commission spreadsheet daily.
- Monitor the MLS updates and status changes.
- Ensure tenant and property records are up to date