Client Overview
- Portfolio Size: ~1100 units
- Property Management System: Yardi
- Accounting Setup: 2-member in-house accounting team
Challenges
- A small internal team managing AP, AR, reconciliations, and owner reporting
- Month-end close consistently extended to the end of the month
- Limited time for reviews and corrections
- High operational pressure during the final days of each close cycle
Scope of Work
- Accounts Payable
- Accounts Receivable
- Bank and trust reconciliations
- Month-end close support
Solution & Outcome
- Execution-heavy accounting tasks were outsourced while the in-house team retained oversight
- Month-end close was consistently completed before the 15th
- Stress and rework were significantly reduced
- No additional internal hiring was required
Client Overview
- Portfolio Size: ~800 Units
- Property Management System: Appfolio
- Residential property management company
- Accounting Structure: Senior Controller supported by junior accountants
Challenges
- High attrition among junior accounting staff
- Ongoing training burden on senior leadership
- Inconsistent output and quality
- Heavy dependency on individual team members
Scope of Work
- Accounts Payable
- Accounts Receivable
- Bank reconciliations
- Owner and management reporting
Solution & Outcome
- Junior accounting roles were replaced with a dedicated outsourced accounting team
- The senior controller focused exclusively on oversight and review
- 30–40% cost savings were achieved
- Accuracy and consistency improved
- Operational risk from individual dependency was reduced
Client Overview
- Portfolio Growth: 10 units to 150+ units over 18 months
- Property Management System: Buildium
- Residential portfolio experiencing rapid growth
Challenges
- Sharp increase in AP volume
- Growing number of bank accounts
- Need to scale operations without increasing headcount
- Risk of instability during month-end close
Scope of Work
- Accounts Payable
- Bank reconciliations
- Scalable accounting process design
Solution & Outcome
- AP and reconciliation functions were outsourced with scalable workflows
- Accounting processes were aligned to support portfolio growth
- 15x portfolio growth was achieved without additional hires
- Month-end close remained stable and predictable
Client Overview
- Portfolio Size: ~10,000 residential units
- Core Systems: Yardi, Sage Intacct, Boston Post
- Asset Mix: Market-rate and LIHTC / Affordable Housing
- Onshore Leadership:
- Controller
- VP – Recertification
- VP – Finance
Challenges
- Managing a very large portfolio without building a large internal accounting team
- Maintaining speed, accuracy, and compliance at scale
- Ensuring leadership remained focused on strategy rather than execution
Scope of Work
- End-to-end Accounts Payable
- Accounts Receivable and rent posting
- Month-end close
- Owner and investor reporting
- LIHTC compliance and recertifications
- FP&A, budgeting, and variance analysis
- Day-to-day accounting operations across Yardi and Sage Intacct
Solution & Outcome
- Karma functioned as the extended accounting, compliance, and FP&A arm
- Dedicated, time-zone-aligned resources operated under SOP-driven workflows
- Daily coordination was maintained with onshore leadership
- The equivalent of 10+ accounting and finance roles was avoided
- Approximately 50% cost efficiency was achieved compared to a fully US-based team
- Close cycles accelerated and reporting accuracy improved
Client Overview
- Portfolio Size: ~230 residential units
- Property Management System: AppFolio
- Ownership Structure: Founder-led
- In-house Accounting Team: None
Challenges
- Full operational visibility was required without daily owner involvement
- No internal controller or accounting staff
- Need for reliable, end-to-end execution
Scope of Work
- Move-in and move-out accounting
- Rent posting and AR management
- Accounts Payable
- Bank and trust reconciliations
- Month-end close
- Owner reporting
- Issue resolution and clean-up
- Leasing support
Solution & Outcome
- End-to-end accounting operations were fully outsourced
- Review cadence was structured around the owner’s preferences
- AppFolio-native workflows ensured property-level accuracy
- Zero internal accounting hires were required
- Clean, timely reporting was delivered with full transparency
- The owner remained focused on strategic growth rather than daily operations
Client Overview
- Portfolio Size: ~1.5 million square feet
- Property Management Software: Yardi
- Lease Structures: Triple Net (NNN), Gross, Modified Gross
Challenges
- CAM calculations were inconsistent across properties
- Multiple lease types with varying recovery rules
- Lack of standardized CAM methodology
- Incomplete or fragmented CAM documentation
- Tenant questions and reconciliation delays due to inconsistencies
Initial Scope of Work – CAM Services
- Review of lease structures (NNN, Gross, Modified Gross)
- Standardization of CAM calculation methodology
- Property-level CAM reconciliations
- Creation of supporting schedules and documentation
- Alignment of CAM recoveries with lease terms
- Trueups of CAM charges
CAM Solution & Impact
- CAM calculations were standardized across the entire portfolio
- Clear documentation and backup schedules were implemented
- Tenant-level accuracy and confidence improved
- CAM reconciliations and Trueups were delivered consistently and on time
Expanded Scope – Full-Time Accounting Support
- Following the successful CAM engagement, the client expanded the scope to include:
- Accounts Payable
- Accounts Receivable
- Bank reconciliations
- Month-end close
Final Outcome
- CAM execution was unified under a single, portfolio-wide methodology
- What began as a CAM engagement expanded into a long-term, end-to-end accounting partnership
- Closing cycles became structured and predictable
- Operational strain on the internal team was removed without increasing headcount
Client Overview
- Client Type: Commercial Real Estate Operator
- Portfolio Size: ~3.2 million square feet
- Property Management System: Yardi
- Initial Accounting Model: In-house team under temporary capacity constraints
Challenges
- Temporary but intense workload pressure on the internal accounting team
- Accounts Payable backlogs affecting vendor relationships and month end close
- Limited bandwidth to absorb additional responsibilities
Scope of Work
Phase 1 – Immediate Support
- Accounts Payable processing
- Vendor management and backlog clean-up
Phase 2 – Expanded Scope
- Accounts Receivable Management
- Bank reconciliations
- Month-end close support
- CAM Reconciliation
Solution & Outcome
- Karma was engaged initially as a short-term capacity solution
- AP processes were stabilized quickly, restoring operational rhythm
- Based on consistent performance, scope expanded to AR and close activities
- The client transitioned from temporary support to a fully outsourced accounting model
- Month-end close timelines became predictable and well-controlled
- Internal team pressure was eliminated without additional hiring
