Accounting Services

Property accounting services are crucial for the financial management and reporting of real estate investments. These services help property owners keep track of income, expenses, and ensure compliance with financial regulations. Key property accounting services include:

  • Rent Collection and Accounts Receivable:

    Managing the collection of rent and other payments from tenants, including tracking overdue accounts and coordinating payment reminders.

  • Accounts Payable Management:

    Handling payment of bills and invoices related to property operations, such as utilities, maintenance, and service contracts.

  • Budgeting and Forecasting:

    Creating budgets for property expenses and revenue projections, helping property owners plan for operating costs, capital improvements, and other financial needs.

  • Lease Administration and Billing:

    Managing the financial aspects of leases, including calculating rent escalations, adjustments based on lease terms, and generating accurate billing statements for tenants.

  • CAM (Common Area Maintenance) Reconciliation:

    Calculating and reconciling common area maintenance charges with tenants, ensuring each tenant pays their fair share of shared expenses.

  • Bank Reconciliation:

    Ensuring accuracy between property bank accounts and financial records by reconciling deposits, withdrawals, and fees.

  • Capital Expenditure Tracking:

    Monitoring expenses related to major property improvements or renovations, and ensuring these are correctly accounted for in financial statements.

  • Cash Flow Management:

    Managing the timing of income and expenses to maintain a healthy cash flow, covering operational expenses and planning for future investments or repairs.

Accounting is one of the most important things done when managing a commercial investment, to make sure it's done correctly.