Client’s problem stemmed from underutilizing their current MRI
platform, lacking a cohesive process across departments, and
error prone Excel models. Furthermore, vast discrepancies existed
between the tenant recovery expense pools, property denominators, management fees, base years, CAPS, and gross ups when compared to the tenant’s lease.These factors resulted in higher tenant disputes and slower collection option dates, missing terms, and problems with base-year calculations.

CHALLENGES

1. Inefficient and inaccurate manual offline billings and budgets in Excel

2. Siloed interdepartmental communication and consistency in approach

3. Staff turnover and disruption to process

SOLUTION

Client partnered with NTrust to install a repeatable standard operating procedure, automate all tenant recovery, estimate budget adjusted billings in MRI, and help facilitate its perpetual budgeting processes.

Each tenant billing, whether actual or budget, was carefully prepared as per the lease, and tightly controlled by REmaap workflow to streamline interdepartmental recovery reviews to ensure accuracy and timely billings.

Going forward, the operating procedure entailed NTrust performing many of the ongoing necessary budgetary tasks such as CAP, CapEx schedule, and general ledger adjustments to enable prompt quarterly reforecasts, mid-year tenant recovery analysis, and preparation of new budgets.

BENEFITS

Best practices incorporated to compete against well-established peers

Scalable and predictable cost model to manage portfolio changes

Better insulated from staff changes within the organization

Elevation of existing staff to better serve senior management

REMAAP USE CASES DEPLOYED

Recovery Reconciliations
Ongoing Recovery Setup

RESULTS

Solved timeliness and accuracy problems and reduce tenant disputes

Improved cash flow and visibility of future asset performance

Reduced tenant recover billing and budget preparation costs by 50%