During an audit, a large publicly traded REIT found it had a significant amount of unapplied cash on its books… and no way to track how it should be applied.

CHALLENGES

1. Unapplied cash on its books

2. No clear process documentation for the application of cash to expense accounts

SOLUTION

Client partnered with NTrust to put together the initial team of Lease Data and Technical Experts.

Small audit team worked with the client’s billing and accounting teams to understand the Unapplied Cash issues.

In the process, NTrust became an integral partner handling:

– Property Tax Billing and Collection
– CAM Reconciliation
– CAP Rollover

Worked on a 24-hour clock to ensure daily processing of data was complete and ready for review when client came in each morning.

BENEFITS

Bespoke approach to improve quality of data used in valuation models.

Small, highly qualified audit team.

Commitment to excellence and 100% accuracy.

REMAAP USE CASES DEPLOYED

CAM Reconciliation

RESULTS

Solved the Unapplied Cash problem: Audit exposed underlying process weaknesses that needed to be addressed immediately.

Accelerated the billing of over $25 million in property taxes across 10 states: Using key measures, NTrust defined the Tax Bill Back Calendar for each of the Property & Tenants within each property.

Cut six months out of the expense reconciliation process:
Added validation steps that allowed NTrust to assure 100% accuracy of billed amounts reducing number of tenant disputes.

As a direct result of NTrust’s efforts the reported performance of the REIT portfolio has been increased. This impressed investors and attracted new capital for expansion of the REIT’s portfolio.