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Property Managers and Property Owners Associations Services
Tax Services Our real estate professional have the relevant experience to address the tax issues encountered by property managers and property owners associations. We can provide property managers assistance in identifying tax credit and incentive opportunities as well the cost/benefit of cost segregation studies for the benefit of the property owners. In addition, we can assist property owners associations in addressing unrelated business income issue. Learn more. Operating Expense Audits for Real Estate Properties Our dedicated real estate staff have significant experience in performing audits of operating expenses for commercial real estate properties. These audits are generally required under tenant leases and provide for the pass through of excess operating costs to the tenants. We understand the appropriate methodology and industry standards as provided by the Building Owners and Managers Association (BOMA) including escalation calculation provisions. Our operating expense audits are performed in accordance with generally accepted auditing standards and include the following procedures, among others:
Lease Compliance Reviews The firm’s real estate professionals can assist property owners and managers in verifying compliance with lease agreements. Our procedures can address tenants’ compliance with percentage rental reporting as well as other lease provisions. Financial Statements Property managed real estate properties have unique financial reporting issues including accounting for tenant improvement and inducements, straight-line rental revenue recognition, contingent rental revenue and other issues. In addition, property owners associations have requirements for supplemental disclosure of major repairs and replacements. Our professionals understand these unique accounting issues. Learn more. When you need unparalleled accounting and advisory services tailored to your needs, contact Decosimo's real estate team and ask us how we can help. |
Decosimo is an independently owned and operated member firm of both the Moore Stephens North America (MSNA) association of member firms and the Moore Stephens International Limited (MSIL) network of member firms. Neither MSNA nor MSIL provide services to clients. Decosimo is a separate and distinct legal entity, subject to the laws and professional regulations of the jurisdictions in which it operates, and is not authorized to obligate or bind MSNA, MSIL, or any other member firm of MSNA or MSIL. Decosimo is liable only for its own acts or omissions and not those of any other person or entity including MSNA, MSIL and other member firms of MSNA and MSIL.