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Delivering tangible results based on an owner or client’s goals is important to achieving success. Our teams produce comprehensive and informative reporting packages on a regular basis, including details on tenant relations, property management issues, performance to budget, and risk management. It is imperative that we report on and communicate to our owner/clients on a regular schedule to ensure each property we service is operating at its maximum performance.
Monthly operating reports typically include all financial reports compiled by our Accounting team. The individual needs of each owner are addressed, and information relayed in the most useful format. Additionally, our accounting systems provide a real-time portal for information sharing.
Areas of responsibility in our accounting function are as follows:
As part of our accounting function, annual budgets are established for all assets under management. At the end of the fiscal year, the budget process begins with an analysis of the expense history associated with the asset by our management and accounting teams. As a first step, trends are identified to help predict future expenses. With that baseline established, the management and construction teams meet to discuss potential capital projects, scheduling, and estimated costs. Additional information is gathered from the leasing agents related to estimated lease commencement dates, lease commission payments, and tenant improvement expenditures, completing the budget process and providing a clear picture of the financial plan for the asset. Draft budgets are shared with owners/clients for final approval, cost items are uploaded into our systems, and the budget is communicated to all teams.