Ensuring that your real estate firm is supported by the right shaped finance team, with the most cost effective staffing levels and best technology solution for your needs, is critical to business success.
Why outsource elements of your finance function?
|To help manage the cost of setting up a finance function in the first place.|
|To access detailed management reporting and analysis.|
|To utilise the best fit accounting technology.|
|To de-risk your compliance with regulatory requirements in the UK and globally.|
|To ensure certainty of cost, both at set up and through the business lifecycle.|
|To free up senior staff time for core business activities.|
|To access differing levels of finance expertise.|
|What could you outsource?||Other specialist real estate services|
|Book keeping and banking services||Property tax advice|
|VAT compliance and advisory||Distressed real estate|
|UK entity management accounting||Service charge audits|
|Fund accounts and investor reports||Corporate finance|
|Statutory accounts preparation||Assurance services|
|Coordination of audit||Forecasting and modelling|
|Company secretarial||Economic impact and market intelligence|
|Payroll and HR||Legal advice|
We have a broad range of clients in the real estate sector. Our focus is on bringing tailored, reliable and innovative solutions to UK and offshore investors, property managers and developers, providing a range of services demonstrated in the case studies below.
Property Fund Client
This established fund acquires, develops and sells land assets in the UK. The property advisor outsourced the work for the fund to RSM as they required independence and transparency in the preparation of the investor information. RSM provide a range of services which includes bookkeeping, purchase ledger administration & authorisation of payments, quarterly investor reporting, bi-annual financial statements and consolidation, NAV calculation, VAT compliance, distribution payments, tax compliance and auditor assistance and co-ordination.
Serviced Office Client
We work with an exclusive boutique serviced office company who are owned by foreign investors. Our team helped guide them through the company set-up phase, for VAT and payroll registration. We now provide quarterly management reporting and detailed analysis to the directors, working alongside their in-house team to deliver insightful management information. In addition, RSM undertake the statutory accounts, corporate tax compliance and company secretarial services.
Foreign SPV Client Portfolio
Our client is a development and asset management group focused on both residential and commercial property as well as and hotels and resorts, with a major presence in London. We provide accounting support to the finance director and his team across a range of SPVs. The outsourced solution needs to be deployable quickly and with minimal set up as entities join or leave the group. Our solution gives the client the ability to quickly scale the finance function with no recruitment or acquisition expenses and our team size enables us to manage the risk of having cover so that deliverables are met. Our team also act as the conduit, often introducing our client to other relevant experts at RSM due to our detailed knowledge of the business.
International Hotel Client
An international family-owned company with hotels in 65 locations in Europe has been a client of RSM Germany for several years. The company decided to expand to the UK and were referred to our team in the UK to provide a fully outsourced solution alongside the statutory financial statements, audit and tax compliance. Our team were also involved in a software mapping exercise to enable the integration of the front of house system with the accounting software, creating efficiencies for our client in the processing of data.
Real Estate Fund
Our client is UK real estate arm of the world’s leading consumer-focused growth investor with over $15bn of equity capital deployed worldwide in growing middle market companies and supporting emerging high-growth concerns. Referred by RSM France, who look after the fund’s Paris-based operations, we are setting up the UK business providing a fully outsourced finance back office including bookkeeping and management reporting, payroll and employer compliance, statutory accounts, corporate tax and support for the external group auditor and external employee benefits and insurance providers. We will access our client’s cloud-based accounting application, as do the other RSM firms involved around the world, and our client will need no UK based finance team as a result.