LION REAL ESTATE BACK OFFICE
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Real Estate Firms Save Money with our solutions!

Real Estate firms in the United States are facing incredible pressures to keep costs low while providing excellent services. Our firm helps solve these problems by providing companies with solid solutions for non-core competencies. Real Estate Firms and Investors make money by finding new customers and/or deals. Financial reporting is a necessary function, but it is not what creates revenues for your business. 

Real Estate firms, Property Management  Firms, Real Estate Investment Companines, Self-Managed Association, and Real Estate investors must rely heavily on excellent financial reporting to keep track of their business.  However, most people in the business are not trained in financial reporting or in producing statements, therefore it can be difficult for them to have peace of mind that the financials presented are accuratly representing reality.  

Our solution allows you to access our team as an extension of your team. Instead of a part time person with little or no experience or having to do these things yourself, you get an entire department for a fraction of the cost.  We function as an experienced member of your team specializing in our area of expertise so that you can focus on your existing clients, finding new clients, and on  increasing your revenue!

BENEFITS TO REAL ESTATE FIRM:

Many real estate firms often ask how we can save them time and money.  The reasons that our firm can provide these real estate solutions are simple:

1) Our Technology Infrastructure: Many businesses are not setup to leverage technology like we can. We have built a paperless office environment and our financial reporting procedures are tailored around maximizing efficency. This includes Digitial Signature Approval of Invoices, ACH Payment Platforms, Check Printing Platforms, Web Based Bookkeeping Software, Web Portals for owners and tenants, and Electronic Data Storage. 

2) Strong Technical Infrastructure: Additionally, many companies have little or no expertise in financial reporting, processes, or controls. As mentioned before, this will require them to either hire an expensive employee headcount or to handle this themselves.  In addition to increasing your headcount, other costs will increase  for overhead expenses such as office space, computers, software licenses, payroll taxes, and benefits.

With our firm, you get a degreed team with extensive experience in financial reporting and in the real estate industry.

3) Our efforts increase your  time to focus on your company's growth strategy:  Most small to medium size practices cannot afford degreed or licensed professionals to handle their reporting and financial processes due to  cost, especially while their portfolio is growing.  Instead many firms will try to hire clerks or less technically experienced staff to handle the work, but this will also require that owners or other senior management supervise the staff to insure that the reporting and other cycles are being done correctly.

We increase your time and efficency so that you can focus on your company's growth.    

4) Our service reduces the risk of errors and loss:  It only takes one dishonest or incompetant employee to ruin a company.  The majority of fraud cases in the United States occur in small to mid-size companies. By utilizing our solutions, companies will create a basic controls environment (segregation of duties). For example, the person who is authorizing expenses is not the person who records expenses and income.  

SERVICES THAT WE OFFER:

FINANCIAL REPORTING AND BASIC BOOKKEEPING 

Input all Rents 

  • Clients will provide the firm with electronic copies of checks, money orders, and deposit slips
  • Property managers can be granted access to record their receipt of rent in the system.
  • Our firm will match rent payments to bank deposits
  • Track and Calculate Late Fees for tenants
  • Other charges can be charged if clients provides appropriate documentation (Repair Deductible)

Input all Expenses for Owners (Accounts Payable Management Separate Charges)

  • Clients will provide copies of invoices and checks that were cut
  • We then classify the expense to the appropriate general ledger account
  • We upload copies of the supporting documents with the expense or payment.

Bank Account Reconcilliation

  • We reconcile Accounts to insure that all items are cleared
  • We prepare a Bank Reconciliation between GL to Bank Statement

PAYABLES MANAGEMENT: 

For many associations and companies, it is critical to pay vendors in a timely manner. However, it is a very inefficient and time consuming process.  With our system, we can help automate this process creating greater efficiencies and cost savings. 

Our process includes:

Vendor Payables

  • All Vendors will be notified to email or fax their invoices.
  • Invoices will be uploaded and associated to the management companies property
  • "Authorization to Pay the Invoice" will be sent to the appropriate person to provide their approval
  • Payment will be sent from the appropriate account via ACH payment or Check Printing Services
    • ACH payments often take 3 to 5 days after issuance
    • Checks would be sent via USPS, and it could take 3 to 5 business days

Owner's Draw Payables

  • Owner Draw's can be calculated (assuming the management company segregates security deposit liability or other liabilities) and checks sent out.
    • Authorization to pay out the Owner's Draw Form will be sent to authorized party to approve the list of owner's draws prior to sending out the draw
    • Clients must provide Reserve Requirements
  • Security Deposit will not be remitted to owners (avoids liability issues related to security deposit)

NOTE:   It is critical for vendors and owner's to understand about the process, as it would be a change from the current manual processes that many companies employ.


RENTAL/RECEIVABLE MANAGEMENT:

  • Our firm will setup banking relationships that include Free E-Check Tools for Tenants
  • Our firm will also setup accounts that have no basic banking fees
  • Clients must maintain segregated security deposit accounts
  • Management fees will be calculated based on the contract (percentage of collected rent )
  • Management fees can be remitted to the Managent Company's Operating Account via ACH

 

 

 

 

 

 

 

 

LionRealEstateBackOffice.com
Phone:  832-364-6025 
Fax: 1-866-466-0319



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