Felner Corporation’s commercial management services include the monthly analysis and preparation of financial statements. Each month, Felner Corporation will complete a reporting package and deliver it to the owner/trustee.
Felner Corporation is also responsible for developing, overseeing, and implementing a budget for the property. The budget process is one that we monitor on a consistent basis. By doing so we avoid much of the “management by crisis” decisions that otherwise might have to be made. This monitoring is done for the purpose of evaluating constant changes and to alert the owner of these changes in a timely fashion.
A sample of the monthly reporting package may include:
Property Summary Report – This report describes all activities of the month. This narrative will also include the Property Manager’s recommendations for policy changes, future repairs, contract and vendor changes, marketing and leasing activities and explanation of budget variances.
Budget Variance Report – The budget variance report includes expenditures by line item account number in relation to the monthly budgeted figures, the year to date actual expenditures and year to date budgets.
Bank Reconciliation – This proofs the operating account balance. A copy of the bank statement will be attached.
Cash Receipts Journal – This journal maintains a monthly listing of all cash received and appropriate account designation.
Cash Disbursements Journal – The cash disbursements journal lists the details, by expenditure and category all items paid during the month.
Rent Report – Reflects, in detail, by tenant and income categories, the rent received by tenant including amount, date, date paid, late fees paid or payable.
Trial Balance – The Trial Balance reflects all rent received and disbursements made by account.
Our commitment to unparalleled service and customer satisfaction is best reflected by our sustained growth throughout the last three decades to a portfolio of over fifty properties. We are actively involved in numerous real estate institutions such as BOMA and CAI and are constantly striving to learn, develop, and grow.
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