Reporting and Software
Our property management accounting software is second to none as it's the best in the industry. Yardi Genisis allows us to provide our clients with real time up-to-date reports. Yardi accounting packages are Microsoft Office compatible. Any of our reports can be easily obtained via the internet or downloaded into Microsoft Word, Excel, plain text, etc. Customized reports can also be created instantly allowing us to meet your unique reporting requirements.
Our standard monthly financial reporting packages provides a comprehensive review of the status of your assets and will include the following reports: Narrative Review, Delinquency and Variance Report, Cash Flow Statement, Balance Sheet, Income Statement, General Ledger, Expense Register, Aged Payable Summary, Bank Statement and Reconciliation, Bank Account Balance and Confirmation, Income Register, Delinquent Payment Status, Detailed Rent Roll and Budget.Budgeting
It will be important for us to see the income and expense figures from the past few years. If ownership does not have this then we will construct from current rent rolls, leases, estoppels, cancelled checks. We will need to set budgets for 12, 24 and 36 month of projects. There may be large capital improvements that need to be done (Roofs, decks, HVAC systems). Once we ascertain what the needs are then we can set actual budgets. We will also prepare in January our yearly budgets and management plan for each asset.
The yearly budget is our guild map and while we may need to adjust accordingly it is the basis for which we base the tenants CAMS for that year. We will need to be realistic in our approach because of the vacancy issues. Once we have more stabilized assets it will be important to keep the tenants interest in mind. This is always a dance in the very beginning with a change over.