Full service accounting you can trust
Corridor prides itself on its established, professional accounting services, including investor-grade and in-depth monthly operation reports. Our full package is delivered reliably on the 15th of each month and details all financial and operational performance metrics to help our clients better understand their business operations.
Our portfolio averages delinquency rates of 3%-10% of billing. We maintain a strict timeline for our onsite management to follow to ensure a high collection rate, low bad-debt losses, and limited eviction handling.
Our established best practices guide holds onsite teams accountable for collections and quickly identifies residents who are not able to meet payment terms to limit increased bad debt losses. Our team is also trained on working with residents on peaceful lease termination to limit expenses and time spent on eviction proceedings.
Corridor's accounts payable team and processes ensure vendors are paid on-time and accurately. Our company has a standardized system for inputting, processing, and verifying payables, which goes through a series of checks and balances from the onsite level through our corporate accounting team and up to senior management. Invoices and payments are submitted on a weekly basis with consistent and accurate coding.
Our company is well-versed at assembling a community operating budget. Even with limited property data, we can produce a realistic and accurate budget by using historical portfolio information and industry averages. At Corridor, we work consistently with our proposed budget plans and bring them to the forefront of onsite management's view so that operations are executed in line with our owners' goals.