Real Estate
Challenge
There were several real estate rentals under the same umbrella (commercial, retail and residential) that required compliant Illinois tenant leases and definitive financial processes for accounts receivable, payable and quarterly calculation of common area maintenance and property tax assessments.
Accounting AdvisoryComplianceInternal AuditProperty Management AccountantRevenue ReviewStreamlined Reporting
Solution
Donna’s strong accounting expertise and understanding of the required financial reporting provided the foundation to:
Effectively and accurately manage the financial reporting
Ensure insurance requirements were maintained
Tenant invoices were sent and collected in a timely manner
Quarterly assessments for CAMs and property tax were accurate for each tenant and collected according to lease terms
Results
Donna’s skills as an accountant and analyst resulted in:
Accurate financial reports for preparing corporate tax returns
Improved cash flow due to timely collection of rent payments
Timely lease renewals provided improved cash flow projections
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