Financial Services

Using industry best practices, our financial products and services are efficient, transparent, and customized to maximize the return on your student housing investment.

We employ a transparent and complete set of cash management procedures. Our objective is to ensure that we clearly align our financial interests with those of our customers. We have developed best practices in the following areas to ensure the optimal financial performance of your student housing operation:

  • Financial Reporting
  • Accounting Services
  • Payroll Services
  • Employee Benefit Administration

Lead by our Director of Finance, who has 25 years of industry experience, our financial services office has a highly skilled team of administrators and accountants who are constantly improving our services and practices, which include:

Financial Reporting

Monthly financial reports and operational narratives comparing actual revenue and expenses to budget. Reports include:

  • Annual and prior year comparisons to reveal trends that can quickly be addressed to ensure positive financial performance is achieved.
  • Supporting documentation for all asset /liability accounts on monthly/quarterly basis
  • Year-end audit reports and schedules provided to document the Residence’s position at the end of a fiscal year; liaison with client’s external auditors as required

Accounting Services

Our Accounting Supervisor and dedicated Property Accountants provide the following services:

  • Recording revenues and expenses on a monthly basis;
  • Monthly reconciliations completed to ensure accuracy of reports;
  • Variance analysis completed to ensure the majority of monthly activity is captured;
  • Cash Management of funds received including but not limited to negotiating reduced rates for POS terminal fees (credit card / debit card);
  • Processing online payments to further reduce fees;
  • Monitoring and pursing collection of delinquent accounts to minimize bad debt;
  • Monthly bank reconciliations;
  • Implementing controls and procedures to minimize fraud and loss.
  • Payment of all suppliers / contractors including utilities, payroll, cable, internet, telephone and other operational expenses.

Payroll Services & Employee Benefit Administration

  • Automated time management through ADP ezlabour eliminating paper timesheets, streamlining scheduling, monitoring lost time and controlling overtime costs;
  • Bi-weekly Payroll processing through ADP Internet-based payroll solution hosted by ADP, maintaining compliance with CRA and reducing administrative costs;
  • Administering Group Insurance & Group Pension / RRSP plans electronically through Manulife that ensure financial stability for our employees.