Sandra worked in a real estate investment business that acquired and managed over 40 residential properties.
During this time, she oversaw a team of 10 accountants who handled a variety of functions, such as rent collections, real estate tax payments, maintaining utilities and making sure they weren´t too high, and rent stabilization renewals and compliance with the rent stabilization laws.
Since the team was maintaining the financials for over 40 residential properties, they needed a reliable financial management system to keep track of expenses, payments, and compliance. Reporting was also a challenge, as they needed to generate separate reports for internal management of the properties as well as additional financials to show outside investors.
To overcome these challenges, we implemented property management programs – like Appfolio, Yardi, and Rent Manager – and this helped streamline their financial management process. In addition, they also generated comprehensive reports for both internal management and outside investors, providing a clear overview of each property’s financials.