Increasing net operation income and delivering tenant accuracy can be fast and accurate with Sage Intacct Real Estate.
Say Goodbye to Spreadsheets and Manual Errors
Many organizations still rely on spreadsheets for reconciliations—a slow and error-prone process. It often begins by pulling data from the general ledger and manually transferring figures into a master template. If an account is missed or a number is entered incorrectly, the mistake can impact the entire property. Even when the data is accurate, the next challenge is reviewing each lease again to customize the templates for every tenant, ensuring all relevant lease provisions are included. This annual process is a nightmare for most organizations.
The Hidden Cost of Inaccurate Reconciliations
That is not all though. In addition to the points mentioned above, some leases include provisions that penalize landlords for failing to provide reconciliations promptly. Even when a lease doesn’t specify a deadline, delaying reconciliations can be fraught with problems, the least of which is getting a payment for an escrow shortfall.
Don’t Let Delays Damage Tenant Trust
From a tenant relationship perspective, delays cause mistrust. Tenants tend to have short-term memories and will forget past work and may question charges. Worse yet, a delay in reconciliation can place a hardship on a tenant if their true-up is steep, making it harder for tennants to pay.
Streamline Year-End Reconciliations with Sage Intacct Real Estate
Accuracy can be increased, and timeliness can be accelerated by utilizing Sage Intacct Real Estate. This solution is fully integrated into the Sage Intacct accounting platform and allows real estate professionals to abstract their expense recovery clauses directly into the platform for easy, timely, and accurate year-end reconciliations. It can be that easy. This means no more late nights in the office and lost weekends in February trying to get the recs out.
Give your team February back and increase your net operation income while providing tenants with the accuracy that they deserve.
Contact us for more information and a demo of Sage Intacct Real Estate here >>>
