Client Snapshot
Industry:
Real Estate Investment & Property Management
Location:
Miami, USA
Portfolio Size:
7 Newly Acquired Properties | ~1,000 Units
Software:
Yardi (Property Management System)
Key Highlights
Impact Area:
Lease Data Integrity & Rent Roll Accuracy
Leases Reviewed:
1,000+
Completion Timeline:
30 Days
Outcome:
Clean, Verified Rent Roll Post-Acquisition
Client Background
The client, a mid-sized real estate firm managing over $300 million in assets and 4,500+ residential units, had recently acquired a portfolio of seven properties comprising approximately 1,000 units.
Due to acquisition timelines and monthly rent roll reporting requirements, lease abstraction and initial lease set-ups were completed internally under time pressure. Before relying on system data for billing, reporting, and financial statements, the client required a structured validation of lease data entered into Yardi.
OHI was engaged to conduct a comprehensive Post-Acquisition Lease Audit, ensuring that all lease records in the property management system were accurately aligned with executed lease agreements.
Business Challenge
Operational and Financial Complexities Impacting Lease Data Integrity
High-Volume Review Under Time Constraints
Approximately 1,000 leases required detailed review within a tight monthly reporting cycle following a recent portfolio acquisition.
Document Transmission & Coordination
Leasing agreements were stored across multiple sources, requiring a secure and structured document-sharing process.
Consistency Across Lease Terms
Ensuring uniform validation of rent amounts, deposits, concessions, utility charges, and ancillary income items across multiple properties.
System Corrections Without Disruption
Identifying discrepancies, obtaining approvals, and executing corrections in Yardi without interrupting active accounting and rent roll cycles.
OHI's Approach & Solution
Dedicated Lease Review Team
- Deployed 2 Leasing & Accounts Receivable Specialists
- Assigned a Team Leader for supervision and client coordination
- Established defined turnaround timelines and reporting checkpoints
Structured Document Management
- Implemented a centralised shared document repository
- Standardised file naming and transmission protocols
- Ensured organised and secure lease access
Standardised Lease Validation Process
- Created structured lease review checklists
- Verified security deposits against lease agreements
- Validated base rent and additional charges
- Confirmed lease commencement and expiry dates
- Reviewed utility charges, pet rent, late fees, and concessions
- Maintained a completed checklist for every lease to ensure audit trail consistency
Discrepancy Tracking & System Corrections
- Maintained a structured discrepancy log
- Submitted identified variances for client approval
- Executed approved corrections directly in Yardi
- Ensured updated rent roll alignment post-correction
Results & Impact
| KPI | Before OHI | After OHI | Improvement |
|---|---|---|---|
| Lease Volume Review | No Structured Validation | ~1,000 Leases Reviewed Systematically | Full Portfolio Coverage |
| Completion Timeline | Extended & Uncertain | Completed Within 30 Days | Accelerated Turnaround |
| Rent Roll Accuracy | Data Discrepancies Identified | Validated & Corrected Records | Significant Accuracy Improvement |
| Documentation Framework | No Standardised Review Manual | Structured Lease Review Manual Created | Repeatable Process Established |
| Accounting Support Scope | Limited Engagement | Expanded to Ongoing Accounting Services | Long-Term Partnership |
Following this engagement, OHI now provides ongoing services including lease abstraction, property accounting, payables coding, rent processing, bank reconciliations, general ledger maintenance, and monthly financial reporting.
“OHI’s lease review process brought structure and control to our newly acquired portfolio. Their disciplined validation framework improved the accuracy of our rent roll and strengthened our financial reporting.”
Asset Manager
Miami-Based Property Management Firm
De-Risk Your Acquisition with Verified Lease Data
Reconcile and validate lease data to ensure financial accuracy, system integrity, and audit readiness from Day One.
