Resourcing
Professional Staffing
PRIAM has sufficient resources within its existing team to manage both the transition and operation of new property portfolios.
Infrastructure
PRIAM is well placed to absorb further portfolios into its existing management infrastructure. We currently operate property management software called Blue Box. Originally developed in the UK, PRIAM assisted the software developers in adapting the application to the German market, so is very well acquainted with its operation. Blue Box is compatible with a variety of accounting and data processing systems, including Excel, thereby facilitating the efficient transfer of data to clients and third parties. Client Internet access to the management system can be arranged.
Management Accounts
The management accounting structure employed in cross-border real estate transactions is often the source of great inefficiency, duplication of tasks and high costs. It is not unusual for up to three separate sets of accounts to be maintained, namely rental accounts, corporate accounts and on-shore fiscal accounts. The potential savings to be made by optimising bookkeeping services and minimising the use of expensive external accounts are considerable, as the input required by a corporate or chartered accountant can be reduced to supervisory, approval, and audit functions. PRIAM’s experience of preparing and consolidating corporate accounts for foreign investors and dealing directly with external auditors, tax accountants and other specialist advisors provides a unique position to offer these services.