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“Three Reasons Why Your General Ledger Should Not Be Your Data Warehouse-Important information”

 “Three Reasons Why You’re General Ledger Should Not Be Your Data Warehouse”

“Three Reasons Why You’re General Ledger Should Not Be Your Data Warehouse-Important information”

A lot of organizations today rely on the general ledger as essential part of the management reporting, well beyond the obvious financial info.

The present techniques in a lot of organizations, and the design of the systems, and also the extremely construction with the software they buy have frequently been shaped by the background of the adoption of data technology within the company.

In numerous businesses, their administration stating systems reflect the reality that as information technology started to be utilized extensively by company, usually the really very first practical area to be automated had been accounting. Effective ledgers are very much important for your organization.

Because finance and book-keeping are needless to say at the center of every enterprise frequently the first automatic reports additionally the first database within an enterprise ended up being the general ledger.

In numerous organizations, the general ledger became the clearing house for all details- not only financial, and in impact became an information warehouse prior to the idea of data warehousing had even evolved.

Let us have a look at the illustration of a manufacturing enterprise.

The organization invested in a mainframe computer system at some time into the seventies. Management was thrilled with all the brand new capability they had in financial reporting. It didn’t take long for all of them to inquire about to have manufacturing data into the reports since well.

Eager to please, the accounting division included lots of accounts into the Chart of accounts (COA), adding entries which were “non-financial” saving product sales quantities, amounts ingested, things like power usage, raw material amounts, wastage and defect counts.

This made feeling at the time, because otherwise the data would not have already been stored digitally. The manufacturing plants made use of tough wired relay logic to manage their particular gear, and recorded instrumentation readings on chart recorders.

A chart recorder is a tool that utilizes a physical pen to capture temperatures, challenges, place, rate, etc. of equipment in writing which is physically pulled past the pen at a predefined price. As they moves of paper were utilized up, the operator would alter all of them. The rolls of report using the info on all of them next got stored in filing cabinets.

The shift employees composed details into formatted pages in a shift guide, and next during the conclusion of the month, management employees included record entries to capture the data. Numerous factories didn’t have a computer, or if perhaps they performed, it was a mini-computer that was specified by and run by the information technology division- which was part for the financing organization. Organizations didn’t have CIOs, only CFOs.

The last outcome was, it was feasible to create administration reports with both economic and manufacturing info. What amount of liters of paint did we purchase? What number of kilowatt many hours of electricity, for what number of devices produced? In a few methods, this might have already been the quick fantastic chronological age of management reporting. (Or is it that time tends to make mind blur?)

Next, as computers started to arrive everywhere, not any longer simply the domain with finance and bookkeeping division, the difficulty began.

The manufacturing plants installed automation methods. Chart recorders provided option to distributed control methods, and SCADA (supervisory control and data acquisition) systems, and pretty soon that they had their particular databases. They held needing to provide figures when it comes to bean counters to get into the today aging mainframe, nonetheless they used their particular reports and sooner or later spreadsheets to really handle their procedure.

Manufacturing organizations started to include “automation designers” which, in fact, were information technology professionals, and multiple IT departments started to form in all but title. Criteria for information format, coding and techniques for calculating essential performance indicators evolved slowly, or otherwise maybe not at all. Finances meaning of how to calculate things had a tendency to win because they presented the secrets to the overall ledger, where the report that decided to go to the CEO emerged from.

Then arrived the ERP. The ERP may or might not have included the production operations, however it nearly always included the basic ledger. Irrespective of in the event that manufacturing segments of the ERP had been used or not, the problem with getting administration reports only got worse. Production had all kinds of detailed details they required, and maintaining the main, basic ledger states as much as date designed creating more and more accounts, more and much more expense centers. The idea of an independent data warehouse exactly where information from numerous methods (financing, production, sales) could be combined was produced, in addition to basic ledger, in theory, gone back to its roots as a repository for economic deals.

The difficulty is, in some organizations, the information warehouse didn’t come. The overall ledger held its destination as the central repository for maybe not only financial, but also administration reporting.

Huge amounts of non-financial information is nonetheless kept in numerous general ledgers. Right here are three important factors why your general ledger shouldn’t be your data warehouse.

1) It makes one to compromise on degree of information and drill down, and history:

No general ledger can hold the degree of detail available in a lot of resource methods. As an outcome, any interface through the product sales system, manufacturing system etc. feeding into the GL will need to develop log entries that summarize a lot of details.

While the information of program will nonetheless exist within the source system, when your management reporting is all from a basic ledger based system, upper management will tend to use this single source- and as an end outcome essential granularity may be lost to the choice generating procedure.

This summarization additionally tends to make it very difficult (or impossible) to have drill down into the details, giving up a number of the greatest advantages of modern-day business cleverness methods.

Eventually, basic ledger based data storage space does not typically provide for the tracking of guide information modifications over time. As sales areas are customized, and territories shift, evaluating one period to another becomes increasingly tough. Data warehouses, designed through the beginning to keep this kind of gradually altering research information, can provide an a lot more understanding and historical evaluation.

2) It leads to an excessively complex chart of reports and could also affect month end close:

As the resource methods be a little more and more capable of collecting data, the inclination will be like to increase the quantity of management reporting. Should this be getting completed into the basic ledger, it implies that additional maps of account must be included, and an increased number of log entries need to be completed. Based exactly how the overall procedure is setup, it’s even feasible that the increased complexity might impact the speed at which month end closing can be completed, if for hardly any other reason why the same financing resources must both have a tendency towards the monetary as well as the management reporting requirements.

3) It discourages cross practical meanings and collaboration on analysis:

By generating one for the useful locations (financing) the center and owner of administration reporting, a general ledger based reporting structure can really increase the extent of this info silos it is most likely attempting to eliminate.

Because the general ledger reporting does not require most of the detail available, each department needs to give the summarized information needed by finance. While every division features got to coordinate with financing, there’s no requirement for sales and production, for instance to compare or coordinate their particular details meanings. While at an advanced degree information is incorporated, any advantage from much more securely integrating information across silos that an information warehouse may deliver is lost.

In a really genuine method, a successful general ledger based administration reporting system is in fact an impediment to progress for a business’s company intelligence and information evaluation advancement.

Because management reporting is present, the reason or requirement for an information warehouse is perhaps not considered as strongly. However, as needs continue steadily to evolve, the energy expended into the continuously developing general ledger, as well as its effect on the financial processes, additionally the businesses overall info administration culture will become more and more harmful.

Ironically, businesses which did not actually establish a basic ledger based administration reporting system could leapfrog their more financially focused competitors, as they embrace the modern-day data warehouse, the the resources readily offered for information evaluation.

A genuine information warehouse is certainly perhaps not an effortless road, and it is only one element of a wider information analysis strategy. Within the quick term, making use of the basic ledger for administration reporting can appear easier, and could put from the difficulties of extra hardware and software, along with the requirement to coordinate between departments.

Nevertheless, despite its historic location while the center of all of the data storage space, in a modern design the basic ledger should always be used only for bookkeeping as it was originally intended.

 

 

 

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“Is Document Storage a Viable Option-Things to Know”

 “Is Document Storage a Viable Option-Things to Know”

“Is Document Storage a Viable Option-Things to Know”

We rely on the world-wide-web for a number of factors. One of these simple brilliant factors is storage space. A lot of us have actually a bulk of files which we want to store but are circumvented by the restriction regarding the room. Online document storage services be useful this kind of circumstances. These are generally self-storage space services, these have a virtual existence rather than actual. Sample Documents are available on internet.

Benefits:

Immediate Access: By storing Documents online you do not need to worry about going someplace to take a look at them. You can access all of them right away from your house, company, etc. and you also don’t have to move through a pile of papers.

Space area: Documentation may take up a good deal of space if it’s held into the imprinted form. Storage space helps you store documents while during the exact same time releasing up empty space.

Security: The online paperwork is more protected than actual storage space. A lot of individuals have apprehensions about hackers but storage space businesses always add an extra layer of security to make sure that nobody other than you or even the individuals you’ve got authorized can access your documents.

Preservation: on the web storing is not safer with respect to privacy however, it is safer pertaining to actual conservation for the papers. By storing documents online you make sure the weather will likely not affect your documents additionally the documents will likely not rip, stain or crumble.

Loss: We are liable to forget about or lose our valuable products. We have a tendency to forget exactly where we now have actually placed things such as crucial documents. On the web paperwork guarantees that we do maybe not need to face this problem.

Company: It allows United States to arrange all of our papers quickly without having the hassle of labeling or filing. All you need to do is generate archives of your data.

Paperwork: Storing documents online insures that the hassle developed by paperwork is decreased. You do not need to continuously create or add items to a folder. All you have to do via document storage is type any additional information in the documents that have already been saved.

Document storage on the internet and document storage on PCs: It is essential to note that storing data on a computer or discussed community drive is various from document storage. Document storage space is preferable to storing on a computer system because:

Anybody with access into the computer system can start the files.

In the event that disk drive/computer crashes all data is lost.

Data are liable to come to be corrupted and you can all your precious data.

Storage is getting a quick-growing industry and it is tough to get the best provider. If you would like the best and many secure document storage, they’re going to be really pleased to accommodate you.

 

 

“Employment Verification – Playing It Safe”

“Employment Verification - Playing It Safe”

“Employment Verification – Playing It Safe”

Verification of an employee’s background before employing him is really essential for a business. A worker with a high output or an employee with medium. But, continual productivity is oftentimes practically desired by organizations. Salary Certificate Template can be found easily from internet.

Although the former would be a flamboyant performer, the latter would be like an anchor, supplying a steady base which various other large performers can used to boost productivity. But to be able to determine whether a prospective employee falls in virtually any of the two groups, some elements must be checked.

  1. The Knowledge Supplied in Resume:

Many resumes contain rigged/exaggerated information. By way of example, a staff member that happens to be a software coder in a big level software project might claim to have been in cost of 6 away from 10 software segments of this task. Frequently candidates will also exaggerate their particular knowledge level. The regrettable thing is the fact that, while knowledge degree can be confirmed (most businesses will provide the joining day and leaving date of a worker), a candidate’s actual expertise is certainly not very easy to get a hold of aside. Many businesses will likely not give off this sort of info for legal implications. It’s going to come out eventually, as soon as the candidate deals with an actual project after becoming hired. But this would suggest significant losses towards the organization when it comes to cash and time. In these situations, hiring a professional company to-do a comprehensive background check of the worker can be the greatest concept.

  1. The Attitude with Candidate:

This would be noticed really carefully. An employee that stutters during the meeting because of tension may indeed be really talented, whereas a smart talking, suave prospect might be full of bit more than hot environment. Experienced interviewers can see through it, but a great deal of people might are not able to observe these small things. The behavioral characteristics also needs to be closely observed. For example, a candidate who continuously bad mouths his past manager can be telling the truth, but the mindset is plainly unprofessional.

  1. The Talk about Salary:

This will be most likely the no. 1 explanation behind many rejections. A large quantity within the “Expected Salary” area frequently puts a frown from the employer’s temple. Nevertheless, only a few the applicants are undeserving of what they require. A prospect with large skill levels might certainly get paid more than his co-workers within the exact same group. The technique lies in identifying the ability amount of the candidate, and sculpting along the amount to something that is appropriate by both edges.

Selecting the correct candidate can be a challenging job for most companies. But if completed with care, it certainly becomes the initial step towards building a faithful and effective worker base.

 

 

 

“How to Plan and Select Meeting Rooms for Your Business Meeting-Things to Know”

Company Meetings can be Staff Meetings, product sales presentations or company proposals to probable people. Whenever you have a vital Business Conference coming up, you will have to ensure that everything is perfect if you wish to make the correct impression. That’s the reason you need to simply take time for you find the correct area and employ the proper actions to make your perfect conference. Printable Business Meeting Agenda is easily available on internet.

Multimedia Presentations:

Your conference rooms should be ready to accommodate multimedia presentations. That implies having a display screen to project on to and a monitor for connecting a computer system to. The space should be organized to make certain that everybody can look at presentation plus the presentation requires to be big adequate to be plainly seen by everybody into the area.

Internet Connection:

Social networking marketing and web tools are important components of the newest get older of company conferences. Not all of your attendees that are looking for to go to your meeting are likely to be capable of being here in individual. You could nevertheless enable vital individuals to be part of your conference by having an online hookup and video-enabled computer system in the conference room.

 “How to Plan and Select Meeting Rooms for Your Business Meeting-Things to Know”

“How to Plan and Select Meeting Rooms for Your Business Meeting-Things to Know”

The right form of computer system will allow individuals to utilize Video Conferencing Services to see what is happening within the meeting and provide their insight as well. Your Video Conferencing software should allow remote attendees to talk about documents while making document alterations in genuine time. Your meeting area computer should have an Internet-enabled movie camera to permit your remote attendees to see what is going in within the meeting.

Many regarding the social networking platforms enable for numerous individuals to use a solitary video conferencing system. This will be a good option to save money on movie conferencing services for your business and your remote attendees.

Attendees:

Create a list of attendees at minimum a month ahead of time and send out Conference sees as soon as possible. When you are getting your RSVP list, that will inform you how large of a meeting room you will require.

Utilize social media marketing programs to permit individuals to RSVP for the conference, share understanding into the conference content and ask any pertinent conference questions.

Agenda:

An extensive Conference Schedule, which include conference times in addition to names of people who would be generating presentations, should be circulated to any or all attendees at the very least two days before the conference. This will enable attendee’s time to prepare the materials they will have to attend the conference and add.

Encourage attendees to inquire about schedule concerns just before the meeting in order for all attendees may benefit from the responses. You can make utilize of social media programs to enable attendees to submit questions and after that utilize those platforms to submit responses since well.

Each company conference need to have a defined purpose to get individuals to attend and contribute. When you invest the required time to prepare your conference materials and discover the most wonderful conference room, then that will considerably increase the quality of the meeting.

 

 

 

“Enriching Your Restaurant or Bar Drink Menu”

Enriching Your Restaurant or Bar Drink Menu”

                            “Enriching Your Restaurant or Bar Drink Menu”

Alcoholic products and their particular non-alcoholic counterparts usually come with an attractive profit margin for bar and restaurant owners. Incorporating to and improving upon your present drink menu, or generating one if you at this time use only a little section of your regular menu for drinks, can considerably enhance product sales. Whether you hope to create on a currently successful part of your company or your restaurant’s professional club resources appear to be gathering dust when you look at the place, refurbish your beverage menu by using these useful tips. Drinks Menu Template is available on internet.

More Than Simply Take In Recipes:

While your beverage dishes and the resulting tastes are essential, the advertising strategies which you make use of on your menu while the variety and quantity of alternatives that you provide contribute fundamentally to your success. Strike a balance between hot and cold drink choices. Add punches, milkshakes, and frozen drinks. Write mouth-watering descriptions using adjectives like “steaming,” “refreshing,” and “frothy.” Take inspiration for beverage brands from your locale or individual cooking design. For an ultra-personal sense, title favorite drinks after family or employees members. This span of action holds clients’ interest and often increases product sales. In the event your restaurant carries a wine record, add a number of different years and labels of each of red-colored, white, and rosé types of wines. If you do not utilize a sommelier, make “when it comes to many favorable experience, purchase with and “Suggestions right on your meals menu. Another excellent method for enhancing your restaurant or bar beverage selection will be upgrade your presentation. Serve beverages in attention-getting types of high quality shooter glasses and other glassware. The type of your club resources and accessories should harmonize utilizing the atmosphere of the restaurant or club.

Individualized Alcoholic Drinks:

Distance your restaurant or bar from the competitors by simply making your drinks, especially alcoholic drinks, more vibrant and private compared to those of every other company. Employ a number of colors, often including levels of varying colors in the exact same chance glass for. Contrast your drink types by utilizing infusions that you and your employees create yourselves along with specialty liqueurs. Theme products along with other novelty drinks provide a persuasive foundation for promotions on unique occasions, specifically breaks.

Your consumers will likely be excited to purchase more than previously before whenever they witness the imaginative flair and enviable choice of the new beverage selection, together with the personalized and stylish equipment in which you provide it. Enjoy watching sales climb up as the clients enjoy their new preferred spot to get drinks – yours.

 

 

“How to Create a More Positive Cash Flow-Things to Know”

Numerous experts concur, that the wonderful guideline of Business is “cash is king,” after that happiness in company is a good cash movement. Money movement is the motion of cash inside and out of the Business over a defined time duration (weekly, monthly, or quarterly). Positive Cash Flow is very important for Business.

In case the money outflow surpasses the cash inflow, then your organization has a negative cash flow. To develop a good money movement, generate more cash and collect the cash in a more appropriate fashion as well as the same time, preserve or reduce your expenditures.

Good cash flow does not happen by crash, it occurs because a well-defined Economic Management Technique known as “cash administration” is operating. A great cash administration system helps you to effectively and successfully handle the activities that create cash. Keeping an ideal degree of cash that’s neither excessive, nor lacking is of the upmost importance. Accelerating cash inflows wherever possible is a required rehearse. Two activities that accelerate cash inflows include invoicing clients as fast as possible and collecting cash on past because of accounts. Delaying money outflows until they show up due is a vital action in good cash conservation. Negotiating extended repayment terms with manufacturers additionally delays money outflows. In addition, spending excess cash to earn the greatest price of return is an excellent business training.

“How to Create a More Positive Cash Flow-Things to Know”

“How to Create a More Positive Cash Flow-Things to Know”

In order to comprehend the magnitude and timing of Cash Flows, plotting money motion, by using Cash Flow forecasts, is vital. A Cash Flow forecast provides you with a better image of your money resources and their expected day of arrival. Identifying these two aspects will help you to figure out “what” you will spend the cash on, and “when” you will need to invest it.

Your financial reporting documents ought to consist of a Money Statement, a Balance Sheet and a report of Cash Flows. Your “cash circulation forecast” reflects the same three kinds of cash flow tasks that appear in your declaration of money Flows. The three kinds of money circulation tasks are:

Money Flows from running Strategies:

This is basically the money movement this is certainly produced which is the direct consequence of the sales regarding the product/services.

Money Flows from Investing Activities:

This is the money circulation that is created from non-operating activities, such as, assets in plant and gear or any various other fixed assets.

 Cash Flows from financing Strategies:

This is actually the cash movement that is produced from external sources- lenders and people.

These three kinds of cash circulation tasks are interrelated. They depend on, and influence each other. The money flow forecast should take this into account, and offer a total photo of where cash will come from and exactly how it is useful for the time being forecaster. The connections among the different cash flow activities may rely on the type of your business, the phase of growth of your company, along with, general financial conditions, or conditions within the market or market in which your online business runs.

Cash outflows and inflows seldom take place collectively. More often than not, money inflows appear to lag behind cash outflows, leaving your online company brief on money. This shortfall is your “cash circulation gap.” the money flow gap is the duration (number of times) between your business payment of money for products or services bought, together with bill of cash from your customers for goods or services sold. Easily put, stock days on hand + receivables collection period – accounts payable period = the money movement space. This interval, the cash circulation space, must be financed. Hold in mind the reality, that for each time your money movement gap is extended, so too is the actual quantity of interest being accrued. Also whenever interest prices are reduced, the price of financing can include up rapidly.

Right here are three ways your business can slim its money flow gap:

  1. Extend out your repayment terms on expenditures for stock. In many sectors, payment terms are mostly determined by tradition and range from market to industry.
  2. Shorten the collection period. The quicker your company can collect money for items and/or services offered, the smaller its cash movement gap will likely to be.
  3. Increase stock turnover. The quicker your business moves stock, the less money it requires. The key to handling stock successfully is to continually monitor your everyday product sales task to your stock on-hand.

Revenue growth does not necessarily suggest more cash on hand. Profit (or net earnings) is the real distinction between your company’s complete profits and its complete costs. It measures just how effectively your online company is running. Money circulation steps your company’s exchange ability (the capability to pay bills along with other economic requirements on time). You simply cannot invest profit, you can just spend money to spend vendors, staff members, the federal government, and loan providers.

A lot of small company owners are finding that profitability does perhaps not assure exchangeability. Over time, your company’s earnings are of little value if they’re maybe not accompanied by a good net money circulation. To develop a good internet money flow, create more cash and gather the cash in a timelier manner and at exactly the same time, preserve or reduce your expenditures. The four ways that can really assist your organization to come up with even more cash, are:

  1. Increase sales by bringing innew customers. Your business cannot sustain itself without the addition of the latest consumers. New client purchase is a procedure that combines market information with direct marketing and advertising resources to identify and attain high-potential leads and convert those leads into customers.
  2. Increase sales by selling extra product/services to present clients. It’s much less costly to create extra business from your current consumer base than it is to generate new business from new clients. A regular summary of your customers’ buying history and regularity of expenditures can expose some interesting details about your customers’ buying habits.
  3. Generate more cash from each buck of product sales. Even more money is produced because of increased profit margins made possible by increasing selling costs and decreasing prices of goods offered.
  4. Reduce expense. Expense costs generally include facilities, equipment, and management administration personnel. The key will be produce a bigger volume of business at a reduced price.

Preferably, throughout your business pattern, money streaming into your business should always be better than money flowing away from it. The buildup of a surplus cash balance is vital given that it allows you to plug cash flow gaps whenever essential, to pursue development projects, and to reassure lenders and people that your business is in good economic health.

 

“What Should Private Landlords Include In a House Lease Agreement-Things to Know”

A Household Lease Agreement is a contract between a personal landlord and a renter that, covers leasing out a home or any various other kind of property. It ought to be a composed Agreement. A Home Rent Agreement is a legitimately binding contract and it is essential which you due to the fact exclusive landlord consist of every little thing you can within the Agreement that pertains to the tenant’s usage of your residential property. Lease agreement mistakes should be removed.

If you should be writing the Agreement yourself it can sometimes be a bit overwhelming because, you require to strike a balance in order that it is comprehensive yet maybe not excessively cumbersome and it is quickly comprehended by the renter. It’s far better to be in plain English instead of “legalese” so there’s nothing misunderstood.

Whenever you are drawing up a contract, there are some fundamental requirements,

* In which the Residential Home is situated,

* What the home comes with,

* Your personal details because the exclusive landlord,

* Details of the tenant,

* How much lease is going to be recharged?

* As soon as the book flow from

* The security deposit,

It is vital to keep in mind that unless guidelines and regulations in your condition say otherwise, any deposits may not be more as compared to month-to-month rent. A few of the other stuff that should be integrated pertaining to the book are – what amount of days can pass prior towards the rent is regarded as late, how a great deal you will charge the tenant for late charges?

These fees have to be exercised based on the laws in your condition and or any local laws and now have to be fair.

Another thing this is certainly important to consist of when you look at the contract is what the renter is paying for, and what you’re likely to cover. For instance, things such as resources, the device, and cable should be the only duties of this occupant, and this would be plainly mentioned when you look at the rent contract. Additionally you have to make sure that the tenant features accounts using the pertinent energy organizations making certain that electricity companies are billing you the occupant, not you.

 “What Should Private Landlords Include In a House Lease Agreement-Things to Know”

“What Should Private Landlords Include In a House Lease Agreement-Things to Know”

Another essential part is the size of the agreement. This can be a difficult subject, and there are lots of options. For personal landlords that choose long=term tenants, a one year agreement is an excellent choice for numerous reasons. It ensures that the tenant is prepared to inhabit the home for at least a 12 months, for example. However you can find drawbacks as well. One of those is that once the agreement is signed, you can’t make any changes or corrections for a whole 12 months.

One the other hand, while a short-term agreement gives you more leeway, your tenants may be short-term, indicating you certainly will have to lease it off more usually.

The various other item this is certainly vital is regards to vacancy. Usually, a regular House Rent Agreement of a 12 months or more needs the tenant promote a thirty-day notice of vacancy. Once more, it has some benefits and some drawbacks. The benefit is that you have advanced notice that your particular occupant plans to leave, but once again, this offers them a complete month to keep. You also have to set a renewal day when it comes to Lease Agreement, generally this are going to be one 12 months through the date the Agreement is finalized.

There are numerous more things that can and should be incorporated into a Property Rent Agreement, so significantly more than can be covered here. There are tasks you are going to be doing above and beyond what is needed by law? There are duties which you are going to be using care of, and what the renter is responsible for?

Any unique problem or constraint for usage regarding the residential property or for running any for the possessions contained within the rent should always be incorporated into the Residence Rent Agreement, e.g. dish washer, fire or stove, heating system, air-conditioning, hot water system.

If you want a test lease contract for a fundamental comprehension, there are a lot of web pages with general types of rent agreements that can be adapted to your very own personal needs.

If you’d instead not prepare the Household Lease Agreement yourself you may get a legal professional to prepare a Home Rent Agreement for your needs but, pick one that specializes in domestic leases.

Time and cash invested on the home lease agreement is well really worth it, it’s your protection as a private landlord, interestingly not every person will treat your home how you would?

 

 

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