AppFolio User Question #1
AppFolio User Question:
I have an owner that owns 100% of 5 properties and 50% of a 6th property. I want Appfolio to block our ability to transfer funds from the 50% owned property to the 100% owned properties since this owner only owns 50% of the property. I thought I could just enter his name differently on the 50% owner properties (adding a middle initial), but I realized his ss# would be the same and didn't know if this would then become a bigger issue at tax time. Any suggestions?
APM Help Answer:
Creating a separate "owner" in AppFolio is a decent workaround. You do create a tiny issue come tax time which is 1099 (and other financial) reporting which you'll need to manually consolidate.
For more tips and answers like this BOOK A CALL with us!
AppFolio User Question #1
AppFolio User Question:
I have an owner that owns 100% of 5 properties and 50% of a 6th property. I want Appfolio to block our ability to transfer funds from the 50% owned property to the 100% owned properties since this owner only owns 50% of the property. I thought I could just enter his name differently on the 50% owner properties (adding a middle initial), but I realized his ss# would be the same and didn't know if this would then become a bigger issue at tax time. Any suggestions?
APM Help Answer:
Creating a separate "owner" in AppFolio is a decent workaround. You do create a tiny issue come tax time which is 1099 (and other financial) reporting which you'll need to manually consolidate.
For more tips and answers like this BOOK A CALL with us!
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