WRH offers financial monitoring services to Housing Finance Authorities that issue tax exempt multifamily bonds as well as the bondholders that purchase these bonds. In this role, WRH serves as an independent monitor of the operating performance of the apartment communities that secure tax exempt multifamily bonds, and we provide periodic analysis and reporting based upon information provided by the developer/borrower and their property management company.
Our service scope includes:
- Quarterly Debt Service Coverage Ratio Calculations
- Annual Budget Report, comparing current budget to prior year budget, prior year operations and original underwriting projections
- Annual Operations Report, comparing full-year operations to annual budget projections and original underwriting projections
- Mid-Year Operations Report, comparing mid-year operations to prior year operations for the same time period and mid-year budget
- Audit Report, providing an analysis of the balance sheet, income statement and schedules published in the audited financial statements for the property.
- Occupancy Trend Reports
- Replacement Reserve Calculations
- Other independent reporting or calculations as may be required in the loan agreement.
For more information about financial monitoring services, please contact John Withers.