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03 May 2023
Accounting Services, All Properties Permalink

Why Yardi is the Go-To Accounting Software for Commercial Real Estate Businesses

May 3, 2023

What is Yardi?

Yardi is a software platform that is widely used in the commercial real estate industry for property management, accounting, and other related tasks. Its accounting software, in particular, has become popular due to its ability to handle complex financial functions specific to the commercial real estate industry.

Why is Yardi so widely used in the industry?

One of the key benefits of Yardi’s accounting software is its comprehensive accounting system, which includes accounts payable, accounts receivable, general ledger, and financial reporting functions. This system helps property owners manage their financials efficiently and accurately, providing them with the data they need to make informed financial decisions.

User Friendly: Yardi’s accounting software is also designed with user-friendliness in mind. Its interface allows users to easily access financial data and generate detailed financial reports, which is particularly useful for commercial real estate owners in tracking their financial performance and identifying areas for improvement.

Integrability: Yardi’s accounting software can be seamlessly integrated with other Yardi products, such as its maintenance module, Common Area Maintenance (CAM) module, construction management moduel, and online tenant billpaying, providing owners with a complete solution to manage their properties and finances from a single platform. This integration saves property owners time and money by reducing the need for manual data entry and minimizing the potential for errors.

Advanced reporting capabilities: Yardi’s functions allow owners to generate custom reports that meet their unique needs. This feature is particularly valuable for commercial real estate businesses that need to report on complex financial data, such as lease revenue and expenses, capital expenditures,  depreciation, and complex lender schedules.

Closing Thoughts

Yardi’s accounting software is relevant and widely used in commercial real estate due to its ability to handle complex financial functions, user-friendliness, integration with other Yardi products, and advanced reporting capabilities. By using Yardi’s accounting software, commercial real estate businesses can streamline their financial operations, reduce errors, and make informed financial decisions that help them stay competitive in a rapidly changing industry.

28 Apr 2023
Digest, Events Permalink

Inspiring the Next Generation of Real Estate Professionals: Our Experience with READI

April 28, 2023

On Thursday, April 13th, we were honored to host students here at the Meissner corporate office as part of the Real Estate Awareness and Diversity Initiative (READI). This program, a partnership between the USD Burnham Moores Center for Real Estate and the Barrio Logan College Institute, aims to provide high school students in underserved communities with an opportunity to explore career opportunities in real estate.

During their visit, we had the privilege of introducing these bright young minds to the world of commercial real estate and showing them the diverse range of career paths available. Our team members spoke to small groups of students, sharing insights about their roles and what makes our company unique.

READI’s mission is to inspire students who might not have otherwise considered real estate as a career path. By exposing them to various areas of real estate, such as development, finance, property management, and asset management, we hope to have opened up new possibilities for these aspiring professionals.

Overall, it was a great night filled with excitement and curiosity, and we’re grateful for the opportunity to have played a part in inspiring the next generation of real estate professionals.

 

27 Apr 2023
All Properties, Digest, Spotlight Permalink
Kristin Howell named Influential Leader

Kristin Howell Recognized as Leader of Influence in the San Diego Business Journal

April 27, 2023

Congratulations to our Vice President/Director of Business Development, Kristin Howell, RPA, FMA, for being named a Leader of Influence in Commercial Real Estate in the San Diego Business Journal! 🎉

We take great pride in Kristin’s exceptional leadership and forward-thinking approach, which have enabled Meissner CRES to consistently deliver top-notch services to all its clients. She has been a driving force behind the company’s vision and mission, inspiring our culture of professionalism and excellence in everything we do.

See the full Special Section here: https://lnkd.in/gwaDcVqa

29 Mar 2023
Accounting Services, All Properties Permalink

Maximize Profits and Efficiency: Why Outsourced Accounting is a Game-Changer for Commercial Real Estate Businesses

March 29, 2023

Commercial real estate is a complex and constantly evolving industry where financial management can make or break success. Many commercial real estate owners and managers are turning to outsourced accounting services to handle their financial reporting needs. Outsourced accounting has become a popular solution for many CRE businesses, as it can be more cost-efficient, guarantee greater accuracy and timeliness, and boost overall business efficiency.

What is outsourced accounting for commercial real estate?

Outsourced accounting involves partnering with a professional commercial real estate (CRE) accounting firm to handle a variety of financial tasks, such as rent collection, bill payment, general bookkeeping, financial analysis, and financial reporting for owners and investors. These services can be tailored to meet the specific needs of each property or operating entity and support the manager in delivering on the financial reporting requirements of owners, investors, and lenders.

What are the benefits?

One of the main benefits of outsourced accounting for commercial real estate is cost savings. By outsourcing accounting functions, property owners and managers have saved significantly on the costs of hiring and training new staff, purchasing accounting software and equipment, and office space and utilities. Outsourcing also reduces or eliminates expenses associated with employee benefits, like health insurance, retirement plans, and paid time off.

Another benefit is greater accuracy. Firms specializing in commercial real estate accounting are staffed by trained and experienced accountants with expertise that helps ensure all financial data is accurately recorded, analyzed, and reported. This reduces the likelihood of errors, improves the timeliness of reporting, and thereby increases investors’ and owners’ confidence that the financial reporting they receive is accurate and meets the highest industry reporting standards.

Outsourced accounting can also improve the efficiency of commercial real estate businesses. The best CRE accounting firms maintain state-of-the-art technology and software to streamline financial processes, allowing property owners/managers to access financial information quickly and easily. By outsourcing accounting tasks, property owners can focus on their core competencies of property management, asset management, and development, resulting in increased portfolio value while leaving the financial functions to the accounting professionals.

Additionally, an outsourced professional accounting service can help commercial real estate owners stay compliant with tax laws and regulations. Accounting firms stay up-to-date with changes to tax laws and regulations so that their clients are kept in compliance. This helps to avoid costly penalties and legal fees that can result from noncompliance.

Conclusion

Outsourced accounting has become a popular solution for commercial real estate property owners and managers who need accurate, efficient, and cost-effective financial management. By partnering with a professional CRE accounting firm, property owners can save money, improve accuracy, streamline financial processes, and stay compliant with tax laws and regulations with greater ease and peace of mind. It’s safe to say that outsourced accounting has become an essential resource for commercial real estate owners and managers striving to stay competitive and focus their expertise on portfolio value in this rapidly changing industry.

08 Mar 2023
Accounting Services, All Properties Permalink

Reasons to Outsource CRE Accounting Services – Asset Performance Insight

March 8, 2023

Are you struggling to compare the performance of your assets or portfolios due to inconsistent reporting?

Our financial services, inlcuding our property management accounting, can help you gain a clear view of your asset performance. Watch our video to learn how we can help you make informed portfolio decisions that align with your business objectives.

28 Feb 2023
Accounting Services, All Properties Permalink

Reasons to Outsource CRE Accounting Services – Yardi Fast Lane

February 28, 2023

Many Owner Managers who have invested in Yardi struggle to fully utilize its capabilities for customization.

Meissner can help!  We can get you into the fast lane for YARDI optimization so that you’re utilizing all the best time and labor-saving features of the software within just 90 days – and getting a much-improved ROI on your technology investment.

 

22 Feb 2023
Uncategorized Permalink
Solar panels with sunset and blue sky background. Clean power energy concept
Solar panels with sunset and blue sky background. Clean power energy concept

Reserve Your 75% Solar Savings!

February 22, 2023

Top 3 Takeaways

  1. Engagement Agreement and $3,500 fee for Engineering & SDGE/SCE Application Submittal are the only requirements to benefit from savings under NEM 2.0.
  2. SDGE Engineering and Submission Application must be submitted by February 28th.
  3. Owners will have 3 years to decide to move forward with solar construction.

Finance Options for Everyone!

  • A Cash Purchase offers the lowest cost per kilowatt hour and is potentially tax deductible.
  • A Solar Loan is the same as a cash purchase, offers the lowest cost per kilowatt hour, and is potentially tax deductible.
  • A Lease/PPA means zero upfront costs for solar system install and potential additional roof rent revenues.

What is Net Energy Metering (NEM) 3.0?

… and why you need to go solar now!

Net Energy Metering 2.0 is a program that credits your electric bill when your solar system sends surplus energy back to the grid. Luckily, you have until April 13th to register projects under the NEM-2 rules, which includes a 20-year grandfathering period.

The system does NOT need to be installed by this deadline to qualify. Only the application for a proposed solar project must be received and acknowledged by the relevant utility (SDG&E, SCE). The project would then have a 3-year window to be installed or not installed.

The new NEM 3.0 will take effect in April 2023. Under NEM 3.0, the credit value for exported energy will have a reduction of approximately 75% in credit for power that’s exported back to the grid.

Read our full brochure here.

31 Jan 2023
Accounting Services, Commercial, Digest Permalink

Reasons to Outsource CRE Accounting Services – Focus on what YOU love!

January 31, 2023

Do you spend more time than you’d like overseeing accounting when you’d rather be focusing on your business goals? 💸

Many commercial property owner-managers just want quality reporting on their assets, but find themselves sinking more time than they’d like into accounting functions. Here’s how we can help you devote more time to the business you enjoy!

 

13 Jan 2023
Uncategorized Permalink

Top 5 Reasons to Install Solar for Your Commercial Property

January 13, 2023

1. Significant Return on Investment (ROI)

Solar is a low-risk, high-return financial investment. Solar pays for itself in a range of 3-10 years*, and solar PV systems have a lifespan of 25+ years – that’s 15+ years of no-cost energy. The time it takes to break even (solar payback period) depends on several factors, such as the cost of the solar PV installation, property location, and current energy consumption.

2. Tax credits will minimize your investment

The Inflation Reduction Act (IRA) of 2022 establishes and extends the federal Investment Tax Credit (ITC) for solar photovoltaic (PV) systems at a rate of 30% of the total PV system cost. The 30% ITC was extended for 10 years, through 2032. Unlike tax deductions, this tax credit can be used to directly offset your tax liability dollar for dollar.

3. Reduce overhead costs and increase your Net Operating Income (NOI)

Boost your cash flow by significantly decreasing the operating costs for energy and creating roof rent income for Ownership. Solar energy could become a source to generate additional revenue through monetizing assets like roof space and parking lots.

4. Attract and retain more tenants

Installing solar panels will significantly decrease tenant electricity bills. Not only will you attract tenants looking to save money, but you will also be more likely to attract tenants interested in sustainability practices. Solar Energy increases the reasons for tenants to renew their leases and enhances the property value for future tenants. You’ll be making the first step in promoting an eco-friendly community and building a greener reputation for your business.

5. Safeguard the planet AND your business by going green

The sun is a source of clean, sustainable, and renewable energy. Utilizing solar energy will not only reduce your carbon footprint and decrease pollution, but also safeguard your business against rising grid prices and boost your property’s value.

*The California Public Utilities Commission (CPUC) has finalized the rules for Net Energy Metering 3.0 (NEM-3), which will take effect on April 14, 2023. The rule change results in a significant reduction in the value of energy exported to the grid from an onsite solar energy system. Currently, under NEM-2 solar systems receive close to retail-rate for any electricity that is not used onsite and sent back to the electricity grid. Under NEM-3, the credit value for exported energy will be in line with wholesale rates, which average $0.02-$0.05 per kWh (a ~70% reduction in value). Luckily, there is a short window of time until April 13th to register projects under the NEM-2 rules. The qualification for ensuring a system is granted NEM-2 status, which contains a 20-year grandfathering period, do not require the system to be installed or operational by this deadline. Rather, an interconnection application must be submitted to the relevant utility (SDG&E, SCE or PG&E) and marked as complete by the deadline. The project would then have a 3-year window to be installed.

12 Dec 2022
All Properties, Commercial, Digest, Newsletters, Perspectives Permalink

Reasons to Outsource CRE Accounting Services – Scalability

December 12, 2022

One of the challenges of managing a commercial real estate portfolio is scaling your team as the portfolio grows 📈 and shrinks📉. We can help you solve the “right-sizing” challenge that comes with hiring and staffing. Leslie Mittanck, our Director of Accounting Services, speaks on this in the video below!