IN THE WORKS

A look ahead to This Year’s Restaurant Finance and Development Conference: Introducing Property Works' New Transaction Support Services As you gear up for the Restaurant Finance & Development Conference, there's something special cooking at Property Works. We're thrilled to introduce our brand-new Transaction Support Service, tailored for operators acquiring new locations and private equity groups acquiring new portfolios. This innovative service is designed to streamline post-closing integration, making the process smoother and more efficient than ever before.

5 Best Practices to Build a Real Estate-Driven Multi-Unit Company In the landscape of multi-unit businesses, real estate should be more than just a supporting player – it should be woven into the very fabric of your organization's decision-making process. Real estate acts as the vital thread connecting all activities beneath the real estate umbrella to your management's overarching goals. In essence, it becomes the primary tool for achieving your company's mission.

Maintaining real property data and complying with real estate tax bills can be a complex process for companies. In many cases, bills may not be received from jurisdictions, leading to potential penalties. To help businesses avoid pitfalls and maximize savings, we've compiled "The Ultimate Checklist for Real Estate Tax Bill Compliance."

Centralizing project management is a crucial aspect of successful development projects, especially in the retail construction industry. With a well-organized system, it is easier for teams to collaborate, track progress, and ensure timely completion of projects. This article discusses the importance of centralizing project management during the development stage of retail construction projects, such as new builds, remodels, and scrape and rebuilds. We will cover the significance of the Letter of Intent (LOI), the use of Project Management Software like Property Works, and the various permits involved in the construction process.

The first few years of ASC 842 compliance have served as a valuable learning experience for organizations of all sizes. This period of adaptation has provided the opportunity to identify areas for improvement and refine existing strategies. Whether you're a seasoned public company or a private company embarking on future years, a proactive approach is essential to optimize your lease management strategy and ensure long-term compliance.

Since launching the Atlanta Chapter of Best Buddies International back in 2018, Property Works has opened its doors to employees with IDD. Emma is one such team member who has been working closely with our very own Director of Business Development, James Rabb otherwise known around BB circles as Jimmy.

The Unifying Power of Property Works One Tool to Connect Your Entire Organization As your business ramps up into growth mode, lease administration probably isn’t a top priority, but if the proper foundation isn’t laid here, then you may be setting yourself up for inefficiencies and overstaffing. At this stage, many operators rely on spreadsheets, manual data entry, and attorneys to perform admin work. With a lean back office team, contesting CAM charge increases, chasing down tax bills, tracking new unit development, and figuring out who’s responsible for repairing the HVAC each needs to be a seamless process. But who’s in charge of pulling the relevant information from your leases when you need it? And when lease terms change, who updates your multi-departmental team?

Tenants, Here is Why You Need Our Essential Lease Accounting Software Property Works Makes Meeting ASC 842 Requirements Simpler Than Ever Maintaining compliance with ASC 842, which became effective January of 2022, can be complicated if you're managing your lease accounting with unwieldy, error-prone methods like manual spreadsheets. Property Works’ streamlined solution offers you robust reporting in an easily auditable format, saving you time and stress. We broke down the differences between ASC 842 and how it differs from its predecessor ASC 840 in this previous post.

Landlord consent and approvals: they're a necessary step in portfolio transactions from purchase and sale, to refinancing and mergers and acquisitions. Obtaining a landlord’s signature may seem like an easy ask, but underestimating the time and relationship management skills required, can tax in-house and outside counsel resources and cost you twice as much as it could.

Mortgages, lease assignments, landlord notices—documents like these can demand completion of duplicative paperwork and tedious, time-consuming forms. That's why Property Works is excited to offer Mortgage and Assignment Preparation as one of our recently added a la carte Transactional Support Services. With our signature combination of robust software and professional services, we turn that mountain of paper into a streamlined process that gets you through these transactions quickly with confidence, clarity, and greater operational efficiency.