Real Estate Services Agreement Audit Report

This sample audit report provides findings from a company’s real estate services agreement review.

The review used client financial information; vendor statements; stakeholder interviews and contract reviews in an attempt to identify and recover cash due to contractually unallowable items; miscalculated payments; duplicate payments; overpayments; billing errors; and non-conformance to contractual terms by the company’s third-party management firm. A review and audit of a sample of four to six current leases and common area maintenance (CAM) reconciliations assisted in determining if the company is appropriately charging for its management fee. The audit scope included the following areas: third-party property management, lease compliance and common area maintenance, and overall risk assessment with high-level considerations.