Real Estate Services

Lapiz digital services with our expert team also provide best RE services in industry. We do lease abstraction, validation and translation services. Our service have provided commended clarifications for our clients, and has built long-lasting relationships.

Services

It starts with the team…

50 member lease administration  team

50 member lease administration team

In House Tool for work allocation and time tracking

In House Tool for work allocation and time tracking

Expert in major tools and database

Expert in major tools and database

Three Level Quality Check

Three Level Quality Check

Industry best standard and procedure

Industry best standard and procedure

LEASE ABSTRACTION

  • Abstract key financial, business and legal information in real estate leases
  • Summarize the data in a template or any database  platforms
  • Handle office, residential, retail, commercial, industrial,  multifamily, warehouse, ATM and tower type leases
  • Abstract from Non-English languages
  • Lease validation, lease data migration and ongoing  lease management service as part of our lease abstraction service

TOOLS AND DATABASE

STRENGTH IN NUMBERS

TOTAL LEASES HANDLED
21231
TOTAL ABSTRACTION DONE
12457
Total Leases Validation Done
6283
Total Translation Pages
1M

RE BACKOFFICE SERVICES

LEASE ADMINISTRATION

  • Tenant Move-in, Move-out, Termination and others: Update on any movein/moveout and any amendment updation.
  • Gross Sales Update: Update on tenant gross sales and bill percentage rent (if any)
  • Critical Date Management: Track the critical dates as specified in the lease
  • Certificate of insurance (COI): To track the expiration and availability of the current COI.
  • Security Deposit: Deposit movein/moveout
  • Tenant Correspondence: Sending letters to tenant on lease activity notifications and request on lease obligations

 CAM Reconciliation

  • Handle database system, tenant and property setup
  • Assist in analyzing, distributing, and reconciling one-time and recurring data associated with the properties
  • Create CAM reconciliations spreadsheet and capture discrepancy by comparing previous year’s data and lease documents

CAM AUDIT

  • Convert reconciliation invoice to audit template
  • Verify lease excursions and caps for Tenant reconciliations.
  • Validate payment histories to ensure escrows are properly applied by Landlords
  • Identify reconciliation discrepancies

FORECASTING AND BUDGETING

  • Assist in terms of extracting details like promissory note and deed of trust from legal documents
  • Assist to avoid missing a valid opportunity or pursuing a second-tier investment

PROPERTY ACCOUNTING

Accounts Receivable

  • Accounting Method-Cash / Accruals
  • Charge Creation-Manual Charge batch Creation & Utility Billback
  • Cash Receipts-Cash Receipt and Collection Activities, ACH Receipt & Non-Tenant Receipt
  • Application of Prepays/Zero Receipts/Net-outs-Apply available Prepays to Open Charges
  • Late fee billing-Bill late fee (as applicable in the lease) for all overdue tenants
  • Commercial Billing- Monthly Commercial Billing
  • Month Close

Accounts Payable

  • Vendor Setup-Creating new vendor setup
  • Invoice Processing and Posting-Inputting Payables
  • Vendor COI Update-Updating the Vendor COI
  • Month Close

General Ledger

  • Validate the journal entries posted in the database
  • Check if there are any miscodes
  • Make relevant changes to the accounting
  • Track any missing transaction in the General Ledger

Bank Reconciliation

  • Comparison of the company’s bank statement and general ledger cash account
  • Add any deposits in transit to the ending balance
  • Deduct outstanding checks from the ending balance
  • Add or deduct any bank errors to the ending balance
  • Add or deduct errors in the check register
  • Prepare journal entries as part of this reconciliation process
  • Compare the adjusted bank statement balance per reconciliation to the adjusted cash balance per the general ledger.