Lease audit ·

    Every dollar of rent you don’t collect is ~$17 of lost property value.

    We audit every lease against your ledger. Across the properties we’ve reviewed, collection slippage runs $24K–$60K a year per property. At a 6% cap rate, that’s $400K to $1M in value.

    No cost for your first property · First findings in about a week · SOC 2 compliant

    One unit, from a recent audit

    In the lease$2,100
    Billed$1,750

    One unit’s renewal, still billed at the old rate.

    Missed each month$350
    Missed NOI each year$4,200
    From one unit, at a 6% cap~$70,000

    The math

    What underbilling is worth at sale

    At a 6% cap rate, every $1 of NOI is worth ~$17 at sale or refinance, so a gap in billing comes off the value many times over.

    Underbilling found$24K–$60Kper property, per year
    Cap rate6%a typical multifamily rate
    Property value$400K–$1Mper property

    Example: a 200-unit property. Underbilling of $10–$25 per unit per month adds up to $24K–$60K a year. At a 6% cap, that’s $400K to $1M in value.

    Run it on your portfolio

    10
    6%

    Value at stake across your portfolio

    $4.0M–$10M

    Underbilling a year$240K–$600K
    Each $1 of NOI is worth~$16.7

    Illustrative. Uses $24K–$60K a year per property, the range from the audits we’ve run to date. Underbilling becomes NOI once billing is corrected and collected.

    Where it leaks

    Where the money goes missing

    When the lease and the ledger disagree, the owner usually loses. Across hundreds of units the gaps add up, and they’re nearly impossible to catch by hand. Every flag links to the lease page and the ledger charge behind it.

    Missed lease terms

    Rent steps and renewal rates that never made it into the system.

    • Base rent, including renewals
    • Escalations applied on schedule
    • Ancillary revenue streams

    Billing errors

    Fees left off the ledger, and concessions still running months after they should have ended.

    • Pet, parking, valet trash, pest control, and utilities
    • Charges in the lease that never hit the ledger
    • Concession burn-off
    • Charges above what the lease allows

    Bad lease data

    Acquisitions and system migrations knock leases and charges out of sync.

    • Lease data after an acquisition or migration
    • Assets run by third-party managers
    • Estimated CAM and operating expense charges

    Running a tight ship?

    Keep it that way

    Plenty of the operators we audit keep clean books. A clean audit is a result too: a verified rent roll you can hand a lender, an investor, or a buyer. Books tend to drift at three moments, and that’s where we keep watch.

    Turnover and renewals

    New rents, new concessions, and new fees, every lease cycle.

    Acquisitions

    Leases and charges imported from the prior owner’s system, checked before they become your numbers.

    Third-party services

    Pet screening, renters insurance, and utility billing sit outside your PMS. We check what they charge against what the lease says.

    The audit keeps running as new leases and charges come in, and a weekly digest flags anything that doesn’t match, so your ledger stays accurate going forward.

    How it works

    From leases to findings in four steps

    1. 01

      Share access

      Read-only access to your property management system and wherever your leases live, or send us the files. We never need write access. Works with Yardi, AppFolio, MRI, Entrata, and RealPage.

    2. 02

      We read every lease

      Our agents compare each lease and addendum, line by line, against the charge register and the resident or tenant ledger.

    3. 03

      Review the findings

      Every discrepancy comes with its evidence, so your team can confirm it and fix it. First findings arrive about a week after access.

    4. 04

      Stay covered

      A weekly digest flags new discrepancies so a property manager can correct them before they compound.

    Who it’s for

    Built for the teams that own the numbers

    Asset managers

    An independent check

    See what your third-party managers bill, with recovered revenue tied straight to NOI.

    Property management

    A clean exceptions list

    Your accountants and regional PMs work through each flag, with the evidence attached.

    Questions

    What teams ask before an audit

    Your data never trains a model and never leaves the infrastructure we agree on up front. Access is read-only, and Ollo is SOC 2 compliant.

    Read-only access to your property management system and wherever your leases are stored. If you prefer, send us the files directly. We never need write access.

    No. We only read. Your team decides which findings to act on and makes the corrections.

    Then you get a verified rent roll to hand a lender, investor, or buyer, plus a weekly digest that catches drift at renewals, acquisitions, and third-party billing.

    Yes. The audit covers commercial terms too: rent steps, free rent, and estimated CAM and operating expense charges.

    We can fold them into the audit. Charges like pet screening, renters insurance, and utility billing often run through outside vendors instead of your PMS, so we match what each vendor bills against what the lease allows.

    We start with one of your properties, and you see the findings before you commit to anything. After that, pricing scales with units and scope. We walk through it on the intro call.

    Start with one property

    Find out what your ledger is missing.

    We start with one of your properties, and you see the findings before you commit to anything. You’ll either find what’s missing or get a clean audit you can hand to your lender or buyer.

    Read-only access · Your data never trains a model · SOC 2 compliant

    Your first property audit is at no cost. We’ll set up a 30-minute call to scope access.