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A Deep Dive into Outsourced Real Estate Accounting: 

Some Process Snapshots

Representative Accounts Payable, Accounts Receivable 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 an 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

$ 28800

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

$ 22000

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

$ 39800

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


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

Yardi-Voyager, Genesis

MRI (by Intuit Real Estate Solutions)

Spectra Property Management

Realpage - Onesite

Timberline Property Management

QuickBooks

Appfolio

ResMan

Software Expertise

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

Our Credentials

  • 50+ commercial and residential real estate clients spread across twelve states in the US
  • Fully integrated real estate service provider providing services in Leasing, Administration, Accounting, Analysis and allied services
  • Clients across the real estate value chain- agents, property/asset management companies, developers, builders and real estate funds
  • Senior management with extensive outsourcing experience in leading companies. Our organization is headed by an IIT-ISB Alumnus (a Top 20 Global Business School)
  • High expertise in QuickBooks, Excel, Yardi, MRI, Appfolio, Timberline and RealPage Onesite
  • 40+ team comprising of accountants, MBAs and CAs with at-least six years of real estate accounting outsourcing experience 
  • Spacious office set-up (2000 square feet) with modern facilities, uninterrupted power supply (24-hour backup) and dedicated 10 MBPS high speed internet connectivity  

6+

STAFF WITH YEARS OF REAL ESTATE ACCOUNTING OUTSOURCING

CLIENTS ACROSS USA- CA, NY, TX, FL, CO, GA, OH, PA, OR, WA etc

50+

COMMERCIAL AND RESIDENTIAL REAL ESTATE CLIENTS

40+

STAFF MEMBERS

75000+

MONTHLY ACCOUNTING FOR

UNITS

KEY REAL ESTATE SECTORS

  • AFFORDABLE HOUSING
  • SINGLE FAMILY HOUSING
  • APARTMENTS
  • TAX CREDIT & HUD (Incl. Section8)
  • CONDO ASSOCIATIONS
  • STUDENT HOUSING
  • COMMERCIAL 
  • RETAIL  
  • INDUSTRIAL

A well-known commercial real estate firm based in Tampa (FL). They manage close to 5 million sf of office and retail space.

Our Services: We provided daily accounting and management reporting services. Accounting services include coding of payables, running rents, booking receipts, reconciliations, general ledger maintenance and monthly closing and reporting. We also provide them budgeting services. We have one senior accountant and one AP person working for them.


Software: MRI, Yardi and Avid Payable

Real Customers, Real Satisfaction!

Our clients include 50+ commercial and residential real estate companies with an annual revenue from USD 1 mn to 350 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 vertically integrated, full service real estate company based out of Bellevue, WA. They specialize in commercial properties.

Our Services: We provide AP and property accounting services including reconciliations (bank, escrow, replacement reserves), variance analysis and detailed month-end reporting. We also perform year-end finalization and audit support services for them. We have four property accountant and one AP person working for them. 


Software: RealPage – OneSite, Timberline

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.

Our Services: We provided daily accounting and management reporting services. Accounting services include coding of payables, running rents, booking receipts, reconciliations and monthly closing and reporting. 


Software: Yardi Genesis 2

A privately owned real estate management firm that specializes in the management of commercial and multi-family properties in the Greater Los Angeles area.

Our Services: We provide review of accounts payable invoices for accounts, general ledger expense coding, expense allocation etc and prepare accounts payable related reports required by senior managers. Additionally financial analysis services are also provided.


Software: Yardi Voyager 7S

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

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