Lease Abstractions in the Grand Scheme of Things

  Lease Abstraction: A summary of the key financial, business and legal information that exists in a commercial real estate lease. It should bring to the reader’s attention any unusual lease provisions, financial obligations or other issues of import. The complexity of commercial property transactions has augmented the complexity of leases. However, the purpose of the lease abstraction remains – …

CAM: from opacity to transparency

CAM tends to be a headache for anyone involved in the process or the payment settlements. The structures associated with it are knotty, and leave landlords, tenants and accountants quite encumbered in their devious wake. To extricate yourself from such tangles (or anticipated ones), and to prevent under/over recovery, there are a few things you can watch out for. Lease …

Property Accounting Software for Centralized Accounting Processes

With many real estate companies a lot of the accounting functions that can be automated are not. Some processes are partly computerised, while others, not at all. It helps to understand what can be done online using property accounting software (like Yardi, MRI and RealPage), and how it benefits your company, to say nothing of saving time, money and effort. …

What Software Should You Choose For Your Real Estate Accounting?

Accounting forms a core nexus of the real estate industries. And to service its requirements there are plenty of software designed specially to cater to specific accounting tasks in this field. While some companies may just be setting up, or are already using certain software, sometimes – depending on the size, growth and functions carried out – it may be …

Watch Out For These Habitual Real Estate Accounting Errors!

Accounting is a desideratum for real estate companies. Which conversely means that, when handled carelessly, it comes right back to bite you. Very hard. Funnily enough, it’s with the more quotidian tasks or basic measures that businesses trip over and land themselves in big trouble. Here are 6 typical mistakes real estate folks make, along with some pointers to avoid …

When is the right time to outsource your Real Estate Bookkeeping?

The reasons for outsourcing real estate accounting are plenty, the salient ones being: Harnessing the expertise of specialists in that field Efficacy Better risk management Scalability Improved customer experience Improved company performance Freeing up internal resources No hassles in maintaining a non-core department Lower regulatory costs and time saving Substantial monetary savings But when is the right time to outsource? …

Assuaging your fears of outsourced accounting

Often real-estate folk find themselves being fettered by having to do their own accounting work. Either they are hassled by maintaining and replacing in-house accountants, bothered by the substantial money that needs to be channelled away towards the task, or browbeaten by both situations. That is how outsourced accounting becomes the practical and yielding answer to this problem. While many …

Transaction-based pricing as the next big paradigm shift

The traditional FTE-based pricing model has been the gold standard in the outsourcing industry.  It is by far the most commonly used model since it is less complex. FTE-based pricing offers you the advantages of easy implementation, tracking and benchmarking. But the question that arises is is it going to stay that way forever? With increased buyer-sophistication and high competition, the …

Baselining before embarking on an Outsourcing Program

While there is a lot of content and guides on how to outsource your finance and accounting, when to outsource, or what to outsource, one area that really needs attention is measurement of performance. In the process of transitioning the operational procedures of one of the leading real estate companies in the US, we were surprised to find how the …