Podio for Real Estate Investing - Using Calculations to Normalize Data
In this episode, Nick Baldo delves into database normalization, highlighting common data entry errors and the significance of calculations in PODIO. He demonstrates 'Current Status' and 'Future Status' calculations, discusses changes in unit status after adding a new tenant, and emphasizes the importance of the leading KPI, 'Future Vacancies'. He also explores how calculations tie into property deals and 'Rentable Square Footage'.
Key Points
- Database normalization in real estate management systems like Podio is crucial to eliminate redundant data entry, which can lead to inaccuracies and inconsistencies.
- Using simple calculation fields in Podio can automate the process of updating unit statuses based on tenant activity, ensuring an accurate and up-to-date rent roll.
- Podio's calculation fields can also provide high-level insights into property performance, such as rentable square footage and occupancy rates, without manual data entry.
End to End Podio Training: https://www.incomedigs.com/pcc Check out our Podio Templates: https://bit.ly/3pE4DBt Enroll in Real Estate Accounting Bootcamp: http://bit.ly/reabcourse Download our guide: https://www.incomedigs.com/qbosetupguide
Every database should be normalized. That means limiting and reducing duplicate data entries. Use basic Podio calculations to do the work for you.
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Transcript
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