NAI Realvest manages over two million square feet of industrial, office and retail space for third party clients in Central Florida. We also have extensive experience as managers of Property Owners Associations for mixed-use business parks in the Southeast and Midwest. Our experienced staff of managers, accountants and maintenance personnel works closely with every client to develop a comprehensive management strategy and financial reporting schedule for each real estate asset placed in our care.

Property Management Services

Following is a summary of the services NAI Realvest provides under a full service property management and accounting agreement for our clients:

Banking: A local bank account will be established for the property based upon the owner’s requirements or preference.

Collection Services: The property manager will maintain and collect rents from tenants on a monthly basis and deposit all funds received in a timely manner.

Accounts Payable: The property manager will review all invoices for services, on-site work, and supplies ordered in connection with operating and maintaining the property and pay such invoices as they become due.

Property Condition Report: The property manager will prepare a monthly written report for the owner detailing the physical condition of the property.

Licenses: The property manager will maintain all applicable licenses and permits in connection with the operation and management of the property.

Contract Management: The property manager shall negotiate and enter into contracts required in the ordinary course of business for the operation, maintenance and service of the property such as landscape maintenance, HVAC maintenance and pest control.

Distributions: After the payment of all invoices, including property management fees and reimbursable expenses, excess funds will be distributed as directed by the owner.

Systems and Technology

NAI Realvest Property Management and Accounting is performed in a Microsoft® Windows networked environment utilizing the current release of Timberline® Office software and the following modules:

• Accounts Payable
• Accounts Receivable
• Cash Management
• General Ledger
• Property Management
• Financial Statement Designer
• Report Writer

This accounting and property management package is capable of providing high quality reports in a variety of customized formats. All checks are laser printed using Create-A-Check® software.

Financial Reporting

The standard reports that Property Management generates are straightforward, easy to understand, and provide all the necessary information needed to review performance of the property. Should our clients require additional documentation or forms, we can develop them to accommodate any need. The mainstay of the NAI Realvest Property Management and Accounting Department is flexibility and the desire to give our clients the highest quality product. We have the knowledge and ability to electronically download and transmit information as well as the flexibility to close the monthly report on any day desired. Our standard monthly reports include:

Cash Flow: Statement Indicates the cash flow for the current reporting month.

It includes the beginning cash balance, income expense and the ending cash balance.

Balance Sheet: Details the fixed assets and liabilities and the owner's equity balance for the current reporting month.

Operating Statement: Details all of the expenses and income, for a given property, for the current reporting month and year to date.

Budget Variances: Includes an explanation for all budget variances of $1,000 for the current reporting month.

Tenant Ledger: Lists all of the tenants and includes: the previous balance, the billing amount for the month, the receipts received as well as the date, check number and amount of check and any current balance remaining.

Aged Receivables: Lists any of the tenants with past due balances (over 31 days) and the total amount owed.

Check Register: Lists information regarding all checks printed for the current reporting month. It includes the check number and date, the payee, the invoice date and amount, along with any description.

Bank Statement: A copy of the reported month's bank statement.

Bank Reconciliation: Details the bank balance and the book balance at the end of each reporting month and lists the outstanding checks and the difference between the two balances.

Trial Balance: Shows all debits and credits for each account (within the Chart of Accounts) along with the total debits and credits for the current reporting month.

General Ledger: Shows all debits and credits made to each account (within the Chart of Accounts) as well as the date, description and previous balance.