READY TO ELEVATE YOUR ROI?
READY TO ELEVATE YOUR ROI?
For a property to perform its best, it needs to provide a return on investment. Suntide offers full service commercial real estate Accounting to help investors achieve this goal.
First, each property is assigned its own accountant. This assures that he or she understands your property’s unique situation, its history as well as your personal financial goals. A lead accountant oversees the entire process and can provide a broad overview of your entire portfolio or the market as a whole.
Rent Collection & Bill Pay
If your property has tenants, Suntide can serve as the liaison in tenant relations and rent collection. We handle all aspects of accounts receivable including timing, common area maintenance, delinquency follow up, making deposits and transfers to savings. Once a month you’ll receive rent rolls, lease expiry reports and occupancy/vacancy graphs.
We also manage all bill pay for the property, including paying any outstanding mortgage and escrow. We process vendor payments such as utilities, garbage collection, landscaping and snow removal. (Many repairs can be done in-house through our Construction department, saving you the time and money associated with securing a third party.) We then do monthly reconciliations and maintain the property’s bank accounts, watching out for any discrepancies, low balances or suspicious activity. We can also manage any equity leases, step leases, rent concessions, and moving allowances that may have been negotiated during Brokerage.
With both your net operating income and accounts payable side-by-side in your monthly statement, you’ll be able to see and compare your resources and make adjustments as necessary.
Suntide will work with you to create a budget and provide a variance analysis if your actual budget deviates from that plan. This will help you maintain control over your property’s expenses by monitoring its planned versus actual costs.
Suntide can also manage real estate among a group of owners (REITS) and provide a fair and equitable summary of all capital contributions and distributions.
Suntide will provide a detailed amortization schedule which can help you predict your outstanding balance or interest cost at any point in the future. That, alongside an appreciation/depreciation schedule, will give you a comprehensive picture of your property through time.
Monthly Financial Reports
Once a month our clients receive a detailed Property Management report, including any work that was done, issues that were raised, or recommendations that came up during a property inspection. Clients also receive a custom financial report detailing
- Balance sheets and operating statements
- Accounts receivable and payable reports
- Detailed general ledger
- Variance reports
- Utility summary
- Bank and mortgage statements
- Budgets compared to actual
- Rent rolls, lease expires, occupancy and vacancy reports
Tax season is a time to take advantage of deductions and credits, stay in compliance, and prepare for the year ahead. Suntide provides complimentary accounting services during tax season that many other firms charge for including
- Process 1099’s and collect W9’s
- Compiling and paying sales/use tax
- Preparation of year-end financial reports to send to clients’ preferred tax accountant
- Working with annual auditors
- Beginning real estate tax appeal process
- Corresponding regularly with tax appeal attorneys
- Advocating to obtain tax credits and reductions
During tax season, you’ll have peace of mind knowing that you already have a financial team assigned who is familiar with your assets.
Commercial Real Estate Accounting
We want our Property Management and Accounting services to work for you. Each client relationship can be tailored to the needs of the client and priced accordingly. If you need to make adjustments or require special services, give us a call and we’ll put together a custom proposal for you.
2550 University Ave W #416s, St. Paul, MN 55114
Areas of Service
Minneapolis • Saint Paul • Bloomington • Brooklyn Park • Plymouth • Woodbury • Eagan • Maple Grove • Blaine • Lakeville • Coon Rapids • Eden Prairie • Burnsville • Minnetonka • Apple Valley • Edina • St. Louis Park • Shakopee • Maplewood • Cottage Grove • Richfield • Roseville • Inver Grove Heights • Andover • Brooklyn Center • Savage • Fridley • Oakdale • Chaska • Ramsey • Shoreview • Chanhassen • Prior Lake • White Bear Lake • Rosemount • Elk River • Champlin • Crystal • Farmington • Hastings • New Brighton • Golden Valley • Lino Lakes • New Hope • South St. Paul • Columbia Heights • West St. Paul • Forest Lake • Stillwater • Hopkins • St. Michael • Anoka • Buffalo • Ham Lake • Otsego • Robbinsdale • Hugo • Hudson • Monticello • Vadnais Heights • Mounds View • Rogers • North St. Paul • East Bethel • Mendota Heights • Big Lake • Little Canada • North Branch