Nebraska Lifestyles: How Clean Books Fueled Exponential Growth

Nebraska Lifestyles, a property management company, embarked on an ambitious growth trajectory, aiming to expand its portfolio significantly. However, their financial operations were   records and inefficient processes. Here we study how APM Help transformed Nebraska Lifestyles' financial management, enabling them to scale their business from 60 units to over 600 while maintaining control and accuracy.

The Challenge

Prior to partnering with APM Help, Nebraska Lifestyles had relied on an outdated software system and transitioned to AppFolio on their own. Their early experience with AppFolio felt overwhelming due to their limited experience in the set up and management of the new software, as well as limited resources to reach out to. As Robin Lee, Nebraska Lifestyle’s bookkeeper, described, "before we had APM we would depend on AppFolio’s help and their tech support. (….) They are not very helpful. They take a long time to get back to you and their knowledge seemed very basic." This, coupled with the challenges of navigating a new software system like AppFolio, resulted in time-consuming manual processes, difficulty reconciling bank accounts, and inaccurate financial reporting. These inefficiencies hampered Nebraska Lifestyles' ability to make informed business decisions and impeded their growth.

The APM Help Solution

APM Help implemented a comprehensive approach to address Nebraska Lifestyles' financial challenges:

• Software Migration: Seamlessly finalized their transition to AppFolio.
• Bookkeeping Foundation: Established standardized bookkeeping practices, including accurate transaction categorization, efficient bank reconciliations, and reliable financial reporting.
• Customized Training: Provided in-depth training to the Nebraska Lifestyles team on AppFolio functionalities and best practices.
• Ongoing Support: Offered continuous support and guidance to address emerging challenges and ensure long-term success.

Results and Impact

By partnering with APM Help, Nebraska Lifestyles achieved remarkable results:

• Exponential Growth: The company experienced a tenfold increase in units managed, from 60 to over 600, within a relatively short period.
• Improved Efficiency: Streamlined bookkeeping processes reduced manual tasks, freeing up staff time for strategic initiatives.
• Enhanced Accuracy: Accurate financial reporting enabled better decision-making, leading to increased profitability.
• Risk Mitigation: By establishing strong financial controls, Nebraska Lifestyles reduced the risk of financial errors and fraud.

As Robin Lee noted, "before I would just close books and try to balance at the end of the month and you'd be off somewhere and then you would have to spend a lot of time trying to figure it out. Okay, where did this come from? And (.…)  in the diagnostics you just check  — maybe once a week — what's sitting there, and fix all these issues when I close books. Now I'm done in less than an hour. and before it would take me a day." This significant time savings allowed Nebraska Lifestyles to focus on expanding their operations.

Conclusion

Nebraska Lifestyles' journey exemplifies the transformative power of clean books. By partnering with APM Help, they overcame financial challenges, established a solid foundation, and achieved rapid growth. APM Help is committed to empowering property management companies with the tools and expertise needed to succeed.

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Is your property management business struggling with financial chaos? Contact APM Help today for a free consultation and discover how we can help you achieve your growth goals.

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