...the most effective financial reporting systems.
Property Management: Financial Expertise
Efficient and accurate financial management and reporting is essential to successful property management. To this end Cooper Square has made a significant investment to develop the most effective financial reporting systems. Our operation is equipped with the latest technology, and we constantly upgrade for maximum efficiency. We have developed a system that assigns an accounting professional to handle a particular building's bookkeeping. This accountability provides faster response to financial inquiries and more effective reporting systems. In addition to bookkeeping, our accounting professionals work closely with the property manager to develop and monitor long-term capital budgets.
We provide boards with customized financial information in comprehensive, understandable formats that provide an accurate picture of the financial condition of the property. Our reports contain charts and graphs that illustrate not only current figures, but also trends, and when useful, comparison of building expenses with industry averages.
We provide all basic services - lock-box system for collections, prompt distribution of maintenance, rent and common charge invoices, separate bank accounts - but we do much more. Cooper Square provides the following additional services:
- Carefully monitor budgets and work closely with the board, treasurer and CPA in preparing annual financial reports
- Analyze expenditures and recommend cost-saving programs
- Implement receivable tracking and recovery
- Review each invoice for accuracy and check against estimates and previous bills
- Monitor staff overtime
Mortgage Refinancing
We have excellent direct relationships with a variety of banks and lending institutions and can guide a board or owner in obtaining the most advantageous terms for mortgage refinancing, such as our prize-winning efforts at Gracie Gardens on the Upper East Side.