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A Deep Dive into Outsourced Real Estate Accounting: 

Some Process Snapshots

Representative Accounts Payable, Accounts Receivable, Bank Reconciliation and Month End Closing Process Snapshots for Real Estate firms managing their portfolio in Yardi, Appfolio, OneSite (RealPage) and MRI

Benefits of Outsourcing

Cost Efficient

Realize cost reductions of 40-60% on your existing staffing costs

Grow Without Overhead

Expand your portfolio without worrying about the staffing

Faster Work Turnaround 

Work gets done faster due to complimentary time-zone differences

Optimize Staffing

Use us only when you need us

Best Practices

Access to best practices in real estate accounting, lease abstraction and asset management

Accounts Payable Process Snapshot

The Accounts Payable Process Snapshot detailed below is for a multi-family residential developer using Yardi Voyager. AP is being performed in Yardi PAYscan environment with pre-set work-flows governing the movement of invoices across operations and accounting.


Key Activities Done

Entry of invoices and utilities, allocating AP invoices to correct work-flows, clearing held/stuck invoices by coordinating with site, Check/ACH Processing, Debit Card/ CC transactions and miscellaneous activities such as vendor set-up, funding petty cash etc.

ACCOUNTS PAYABLE SPECIALIST INDICATIVE COST

$ 1500

GET YEARLY SAVINGS OF 

THROUGH OUR SERVICES

$ 24480

Accounts Receivable Process Snapshot

The Accounts Receivable Process Snapshot detailed below is for an Multi-family Residential developer with Section 8 Rent Tenants. Properties are being managed in Yardi Genesis. Leases are maintained in Yardi, Move-Ins and Move-Outs happen through the month and Yardi CheckScan used for receiving tenant payments.


Key Activities Done

Move-Ins (Set-up of leases), Move-outs, Security Deposit Refunds, Monthly Rent Run, Late Fees, Rent Receipting across different payment modes, Delinquency reports and tenant ledger adjustments.

ACCOUNTS RECEIVABLE SPECIALIST INDICATIVE COST

$ 1800

GET YEARLY SAVINGS OF

THROUGH OUR SERVICES

$ 21600

Bank Reconciliation Process Snapshot

The Bank Reconciliation Process Snapshot detailed below is for firms managing single-family, multifamily residential,  commercial properties, HOAs and industrial properties. The process can be followed for both accrual and cash based accounting system with bank reconciliation performed in Yardi. A similar process is followed for clients using Appfolio, MRI, RealPage, QuickBooks and Microsoft Dynamics.


Key Activities Done

Reconciling bank accounts - dealing with transactions not posted in the software, bank reconciliation discrepancies, bank reconciliation postings and reports.

JUNIOR ACCOUNTANT INDICATIVE COST

$ 1500

GET YEARLY SAVINGS OF 

THROUGH OUR SERVICES

$ 24480

Month End Closing Process Snapshot

The Month End Closing Process Snapshot detailed below is for a Multi-family Residential and Student Housing portfolio managed in Yardi Genesis. The accounting system comprises of Accrual Based Accounting with PO based AP System. A similar process is followed for clients using MRI and Appfolio.


Key Activities Done

AP Closing, AR Closing, Expense Accruals, Prepaid Amortizations, Bank and Escrow Reconciliations, Inter-Company Entries/Reconciliations, Management Fees Calculations, GL Review including Income and Expense Reclassifications, Variance Comments, Draft Financial Packages and Finalized Financials Packages.

PROPERTY ACCOUNTANT INDICATIVE COST

$ 2100

GET YEARLY SAVINGS OF 

THROUGH OUR SERVICES

$ 36160

Management Reporting

Monthly Operating Reports and Variance Analysis


Investor Support Activities

Monthly/Quarterly Investor Reports, Distribution Charts and Dashboards


Asset Management

Property & Portfolio Level Dashboards, Hold vs Sell Analysis, Cost Benchmarking


Acquisition Support

Rent Roll Analysis, Projections, Property Research


Architecture & BIM Services

2D Drafting, 3D Modeling and Rendering Services

Our Services

Accounts Payable

POs, Invoices, Utilities & Payments


Accounts Receivable

Rent-Runs, Rent Receipting, Collections


Monthly Accounting

Bank, Mortgage, Escrow Reconciliations, Accruals and Amortizations


Budgeting and Year-End Support


Leasing

Lease Audit, Abstraction and Entry

Software Expertise

We have high expertise across multiple real estate, property management and accounting software used in USA.

Our Credentials

  • 50+ real estate clients across North America in all major states and real estate sectors
  • Handling accounting for 50000+ units across USA
  • High client satisfaction - Most of our clients have been with us since 8+ years
  • Fully integrated real estate service provider providing services in leasing, administration, accounting, analysis and allied services
  • Specialist real estate services provider since 2006 
  • Senior management team with rich outsourcing and management experience since 2003 in global companies
  • Staff with at-least six years of real estate accounting experience
  • High expertise in Real Estate software such as Yardi, AppFolio, OneSite, MRI, Timberline, Spectra and QuickBooks
  • Spacious office set-up (6000 square feet) with modern facilities and uninterrupted power supply
  • 100 MBPS high speed dedicated internet leased line

60+

employees

50+

real estate clients

Real Customers, Real Satisfaction!

Our clients include 50+ commercial and residential real estate companies with an annual revenue from USD 1 mn to 500 mn spread across California, Florida, Texas, New York, New Jersey, Washington, Colorado, Illinois and other major US states. A few examples are provided below. More samples and reference can be provided upon request.

A midsized real estate property management firm based out of Beverly Hills, CA. The firm manages over 50 properties, across 9 states, encompassing over 1200 tenants and nearly 1.5 million square feet.

Property Management | Multi-Family

A vertically integrated, full service real estate company based out of Bellevue, WA. They specialize in commercial properties. The firm has developed and built in excess of 81 properties and have more than 10,000 units under management.

Owner/Developer | Multi-Family & Senior Housing

A mid-size real estate firm in Miami, Florida. The company manages over $300 million of real estate, over 4500 apartments and have been appointed receivers on over 15 properties.

Property Management | Multi-Family

An owner of high-quality multifamily communities in the Tri-State and Mid-Atlantic regions, in addition to affordable and student housing properties around the US. Their portfolio has comprised over 15,000 apartment units representing over $2 billion in value.

Owner/Developer | Affordable & Student Housing

A leading Kansas housing development and management firm specializing in HUD Section 8, Low-Income Housing Tax Credit, and U.S.D.A.

Asset Management | Tax Credit & HUD Properties

A full service management company based out of Denver (CO) with extensive experience in both single and multifamily residential rental properties.

Property Management | Single Family & Multi-Family

A rapidly growing real estate firm based out of Tacoma, Washington. They specialize in commercial brokerage of larger multifamily complexes throughout the Pacific Northwest.

Property Management | Multi-Family

A full-service real estate management firm that hanldes multi-family residential and commercial properties throughout Southern California and Arizona.

Property Management | HOA

Contact Us now for a NO OBLIGATION customized cost benefit analysis of outsourcing opportunities in your organization.

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