Greystar Student Living Capabilities

Accounting

Our student living accounting team includes CPAs accustomed to working with a variety of owner needs while delivering top customer service. Our team, with over 15 years of OneSite student living experience knows the key differences between Student Living and Conventional properties. We use a month-end checklist and budget templates specifically designed for our Student Living properties. For example, we have automated our resident refund process, and our General Ledger includes a section specifically designed to track Turn expenses and reimbursements, with flexibility to add accounts if needed. Our team understands the unique challenges for Student Living properties and offers flexibility to ensure resident satisfaction. We have the ability to process payables quickly outside of our standard A/P schedule for urgent Turn expenses.

Technology

Our software is a state-of-the-art, Internet-based system that provides real-time accounting and reporting. Unlike many component-based systems, all on-site activity is immediately reflected on the General Ledger to ensure that the property operating reports and financial statements accurately reflect the current financial condition of the property.

While our platform fully supports OneSite, we can provide support to other property management systems based on the needs of our clients. Greystar has experience with the following property management systems and budget programs: Real Page, MRI, Timberline, PeopleSoft, Kardin, Real Bridge and previous versions of Yardi Voyager and Enterprise.

Risk Management

REDUCED RISK THROUGH PREVENTION-BASED TRAINING
Our National Risk Management Team has developed procedures and systems that ensure efficient control over the potential risks of property management. These extensive policies and procedures allow us to reduce potential liabilities and property risk at our client’s communities. Our team also can effectively underwrite the policy provision of a client’s existing coverage.

Master Insurance

HIGH QUALITY SERVICE AND COVERAGE THROUGH NATIONAL VOLUME
Greystar’s Master Insurance Program, covering 30,000 units and totaling over $1.85 billion in value, allows us to achieve excellent bulk savings for our clients. As an extension to the property management services provided by Greystar, the National Risk Management Team is able to provide a full compliment of services to support our client’s risk management needs. Clients know that they can rely on our experience and expertise to help them identify exposures and mitigate risks that could potentially affect their financial outcome. These services include insurance review and placement, claims management and loss control.

Bulk Purchasing

A PROPERTY MANAGEMENT PORTFOLIO OF OVER 150,000 UNITS ACROSS THE COUNTRY
Greystar enjoys significant leverage when negotiating pricing with contractors, vendors and service providers. Greystar has an established committee of senior operators and controllers to review pricing of materials, services and utilities to secure optimal pricing. After a comprehensive analysis is completed, adjustments are made to our national preferred vendor database which is then adhered to by all on-site Managers and Maintenance Directors. Some of our national contracts include the following expense categories: accounting software, website development and hosting, maintenance supplies, advertising channels, replacement items such as appliances and carpet, branded marketing items, office supplies, resident screening, resident technology, shipping, paint & paint supplies, utility management and trash disposal. Our team also works closely with the local vendors in the market as a check and balance to our national contracts. Additionally, Greystar does not receive any economic benefit from vendors for using their services. All rebates and discount accrue directly to the assets.

Vendor Compliance

Greystar outsources vendor compliance to Compliance Depot which manages the registration, compliance and approval of all vendors nationwide. The following is a summary of insurance requirements for all on-site Greystar vendors: general liability, auto liability, excess GL coverage: $1 million, workers comp $500k.

Pre-Development

From dirt-to-door we develop and manage all aspects of pre-development stages.

Engineering and Renovations

Greystar’s Capital Project Services Team is a group of 12 experienced professionals capable of providing comprehensive construction management and physical plant oversight services across Greystar’s national platform.