Property
Property is our core specialism. Every property client's month-end pack is reviewed by an accountant who works in property, not a generalist, before it reaches you.
Rent roll and tenant ledgers
We reconcile the property management system (Re-Leased, Palace, MRI or a spreadsheet) to the general ledger every month, so rent invoiced, rent received and arrears agree across both. Arrears are reported weekly with ageing and follow-up status. Rent reviews, ratchets and CPI adjustments are processed on the lease dates.
Outgoings and opex recovery
Operating expenses are coded to property and recovery category as they come in. At year-end we prepare the outgoings washup per tenant against the budget estimates charged, produce the reconciliation statements and process the credits or invoices. Under-recovery is visible during the year, not after it.
Property-level and portfolio reporting
Each property carries its own P&L, capital account and arrears position. Multi-entity structures (holding company, property-owning SPVs, management company, trusts) are consolidated monthly with intercompany balances eliminated. Bank covenant, interest cover, LVR and debt service reporting is produced on the lender's schedule.
Leases, incentives and capital
Rent-free periods, fit-out contributions and other lease incentives are spread correctly across the lease term. Development and refurbishment costs are tracked against budget and capitalised or expensed appropriately.
GST and tax on property
Compulsory zero-rating between registered parties, going-concern sales, change-of-use adjustments and mixed-use apportionment are applied in every GST return. Provisional tax is calculated across the group and income tax returns are filed for each entity under our tax agent extension.
What a property client receives each month
- Portfolio and property-level P&L
- Consolidated balance sheet
- Arrears report with ageing
- Rent roll to GL reconciliation
- Opex recovery tracking vs budget
- 13-week cash flow forecast
- Covenant and LVR summary
- One-page specialist commentary