Accounting & Contracts

Accounting

As property managers, we provide extensive accounting and bookkeeping services. Our experienced staff work to not only maintain but improve the financial stability of each of our properties. This is done via our extensive network of vendors and in-house experienced staff, as well as our strong collection efforts. We are in constant communication with property owners regarding the profitability of their business, and work with tenants, vendors, and lenders to improve financial wellness.

Using Yardi property management software, owners can access financial reports, including but not limited to:

• Tenant Past Due Reports
• Income & Expense Reports
• Annual Budget
• Accounts Payable Reports

We prepare and provide access to monthly, quarterly and annual budgets to track expenditures real-time and monitor the property’s operations and profitability. With a certified public accountant on our staff, we work closely with property owners to establish financial goals through a rigorous budgeting process. This includes budgeting for capital expenditures as well as coming up with cost cutting measures to reduce expenses and increase profit. We will prepare financial statements and ensure compliance with other accounting requirements, such as those imposed by HUD, CFHA or other compliance agencies. Our services can be tailored and priced accordingly to fit a property’s needs.

Compliance

We are a HUD-approved property management company with extensive experience in managing Section 8, LIHTC, Section 236, and PRAC 811 properties. Affordable housing properties require extensive knowledge of HUD rules and regulations as established by the US government. With over thirty years of experience in affordable housing, our staff attend industry trainings regularly to ensure we are always up to date with the everchanging regulatory environment. We handle all aspects of managing an affordable housing property – including screening tenants in accordance with HUD guidelines, maintaining waiting lists, performing required interim and annual income certifications, requesting monthly HUD subsidies, utility analyses, requesting rent increases and contract extensions, and more. With many years of involvement in the industry, we have perfected our processes to ensure compliance with government requirements, while being able to create efficiencies to avoid unnecessary time spent and reduce property costs.

We pride ourselves on our ties to the local communities to which we serve. We understand the growing need for affordable housing in Connecticut, especially Hartford, and the issues and difficulties our tenants face on a daily basis. Given this, we strive to fulfill the needs of the property owners, but also the tenants we serve.