|‹ PREV | NEXT ›|
Property Accounting Services
Today, Carrow’s team of 60 people manage over 5 million square feet of public and private commercial property all across the United States.
Take advantage of Carrow’s vast experience and diversity in property management and accounting services to reduce your stress, streamline your building operations, and boost your bottom line.
Carrow accounting services include:
Cash Management and Financial Controls:
- Collection and billing of rental income, inclusive of tenant billings for additional rent, such as taxes, utilities, miscellaneous tenant charges per the lease, late fees, etc.
- Implementation of strategies to reduce late tenant payments and maximize revenue through a thorough lease analysis
- Manage and strategize for a positive cash flow
- Regular processing and payment of all building expenses including debt service and real estate taxes
- Ongoing review of vendor contracts to ensure accurate billing before processing payment on accounts payable
- Negotiate energy rates to save assets money when possible
- Bank accounts reconciliation
- Prepare and issue CAM reconciliations to tenants after thorough lease analysis to ensure we are maximizing collectability
- Loan abstracting to ensure the requirements set forth in the loan documents or being adhered to; also, thorough analysis of the escrow accounts associated with the loan for guidance on floor/ ceiling thresholds and when disbursements can be made
Budgeting and Forecasting:
- Annual budgeting including operating income and expense, debt service, and capital expenditures for profit/loss and cash flow projections. such as tenant improvements, leasing commissions and building enhancements
- Projecting current and future capital improvement and deferred maintenance costs and timelines
- Projecting Tenant CAM reimbursements
- Anticipating absorption of vacancies and associated commission and tenant improvement expenses
- Detailed monthly/quarterly financial reporting utilizing our computerized Integrated accounting and property management system. This can include a financial analysis and budget comparison reporting leaving no surprises of the financial health of your property.
- Year-end assistance filing and issuing 1099’s to vendors
- Provide detailed balance sheet reconciliations to facilitate year-end tax and audit prep with client’s preferred tax preparer