Scope
New management has taken over, they smell something is wrong with the numbers – especially in lease accounting.
Challenge
They do not want to rock the boat by testing it – so, not to reveal the purpose but to formalize the validation.
Solution
Re-abstraction was taken up; wherein abstract of current and future clauses, options will be fresh but audit of Dates and Dollars will be part of it. Monetary impact will be tabled and changes will be done in Property Management system post approval without impacting the ‘Business as usual’ stage.
Results
Massive findings – smooth modification, proper communication to Tenants; resulting in 100s of dollars of additional revenue.