Finance is a highly administrative department. Imagine saving thousands of dollars on administrative and transaction costs by having someone offshore do these tasks for you.
For years Universal Property Systems has provided top of the line offshore accounting services to Real Estate agencies all over Australia and New Zealand. We have standard positions and workflows ready for you to use or you can customise our workflows according to your agency’s needs. You can offshore your Property Management Trust, Sales Trust, General Account or anything else in the financial area of your business.
Below is a list of tasks our UPS Financial Services team can provide your business to reduce your transaction costs by 50% or more:
Our calculations show that the average rent roll has 10 invoices per property per year. This means for a rent roll of 800 there are about 1900 invoices a month. These are just Property Management trust account invoices. If you have a person onshore processing these invoices @ say $70,000 then it is costing you about $3.07 per processed invoice.
Creditor runs occur after all of the invoices are processed or on a set day each week. Having this completed for you frees up time and allows more flexibility for your onshore staff. It is easy and seamless with cloud-based software. Rest assured that all your creditors are paid on time. All you will need to do is authorise the transaction at the bank as the person in charge of the trust account.
Rent receipting and Bank Reconciliation
One of the time-critical activities in any real estate business is the processing of the rent received overnight. This gives you a head start to the day. The Property Managers (of the offshore team) can then do their arrears calls and communications. Bank reconciliation can also be completed at this time ensuring that any errors are quickly found and you don’t have to go back over weeks of transactions to find mistakes.
Your offshore team can provide regular reports on the activities and performance of your property managers and sales team. This CT scan of your business activities provides you with accurate and timely information that you can use to make sound decisions.
Sales Trust and Processing Settlements
Our offshore team can conduct receipting of sales deposits, early release deposits, settlements including advertising and money to contractors, other agents and vendors.
Sales Marketing Reconciliation
In most offices, there is not a process to ensure the amount spent on advertising is equal to the amount recovered from the Vendors. It is possible to have this done offshore so that you won’t be writing off thousands and in some cases hundreds of thousands of dollars, a year. How does this occur? After listing a property, advertising is booked and the account given to the Vendor. Then variations occur from time to time. An extra advertisement here, more brochures, Online marketing upgraded. These extra costs are rarely captured. A reconciliation can be done when the invoices from the suppliers are received. It is possible to capture those extra costs and potentially recover them.
Market Share Monitor
Get a snapshot into your local real estate market place with the help of our offshore finance team. Get to know what offices are hot at the moment, top agents, trends and changes in listing prices. You can even get the percentage drop in price between listings and selling prices per office and per agent. These reports can even extend to Property Management. How much would that intelligence be worth to you? Information is power and knowing exactly what is happening in your market can help you be agile.
The General account is what usually provides the scorecard for how a business is doing. Most offices use either XERO or MYOB to process their general account tasks. In general terms receipting, invoice processing, payroll and reporting can easily be completed by the offshore general accounts person. Specifically, tasks such as bank reconciliation, receipting income, processing payments, payroll, calculating GST can all be completed efficiently by the UPS team.
Our auction booking system covers the entire auction process including schedules, booking and organisation of your auctions. This includes a range of administration tasks from booking the auctioneer, collating the auction files, run sheet preparation in short, your auction process from go to whoa. Don’t worry if you don’t have that many auctions. You can add this position to other tasks including the processing of invoices, marketing spend reconciliations, batch payments and franchise returns.
Commercial Property Management
Commercial Property Management is an important part of many businesses. Imagine a lot of the back-end paperwork being completed allowing your property managers to spend more face to face time with tenants and property owners. When tasks are systematised, it is possible to send compliance letters, schedule and activate rent reviews, send out rent due reminders and compliance tasks such as annual fire inspections and outgoing reconciliations. As well as regular tasks such as receipting, invoice processing and bank reconciliations.
To ensure that all your processes are completed perfectly and all deadlines are met, we have an offshore Team Leader that trains and assists your global staff each day. Get to know Rina Samia, our Financial Services Team Leader in the video below. With more than seven years of Accounting experience, Rina leads the team of Finance Administration with precision and efficiency.
Rina and her team are responsible for providing accurate and timely finance and accounting support to our valued clients. She makes sure that each task and each position are executed precisely, every single day. From setting up priorities at the start of the day and following work instructions throughout the day to exceeding our clients’ expectations, she can always be relied upon.
If you have any other questions, feel free to speak to our Head of Financial Services, Grant Fanning. He is a seasoned management professional with in-depth knowledge across a wide range of industries and sectors. His 40 years’ experience in businesses of varying types, complexity and turnover promotes a strong and strategic edge to his business and decision-making styles.
Grant is a senior manager with practical, hands-on experience in mergers and acquisitions, sales management, marketing, office administration, systems and business turnarounds. Grant brings strategy, insight and unrivalled value to the team. Get to know him and our financial services in the video below.
If you are thinking of expanding your team globally and taking on a financial services team member, you can have a free consultation and we can do an in-depth cost analysis report to show how much they will save by offshoring any given position. Call us at 1300 855 111 or email us at email@example.com to find out how the strategic, centralised outsourcing of your Real Estate staff can benefit your business.