It is a common mistake to assume that owning investment property is all about occupying units and managing maintenance repairs. We understand that managing your finances is just as important as managing the day to day necessities of your property. Utilizing web-based management software we allow our property owners to monitor both current and year to date financial information. Each month you will receive financial statements to track your investment's progress, so you can make informed decisions.
Our accounting services are designed to effectively account for and manage every aspect of your investment including:
- Review tenant leases to verify accuracy in tenant billings.
- Set up financial accounting systems (utilizing web-based software reporting package) for each property with respect to such items as: lease abstracts, lease options and other critical dates, tenant invoicing, and accounts payables.
- Review existing receivable and payable balances. Identify any problems and resolve them.
- Oversee the payment of property taxes (and mortgage payments/association dues, if applicable) and the filing of necessary paperwork.
- Establish and maintain property operating bank accounts, collect rents and pay property operating expenses.
- Ensure that strong procedures are in place to guarantee prompt collection of all revenue due to the property owner, thus resulting in minimal receivable balances and the maximization of income.
- Develop detailed annual operating expense and capital expense budgets in easy to understand formats.
- Prepare CAM and operating expense reconciliations and escalations, operating expense billings and adjustments, and ensure OE collections.
- Prepare a Comprehensive Financial Report monthly including a review of the overall financial activities (revenues, expenses, capital improvements, etc) at the property during the reporting period.
As a property owner you must always stay informed about your properties financial status.
Please contact us for more information on our Accounting Services