Real Estate

Why choose KR Group in the real estate industry:

KR Group offer for the real estate industry

• Accounting outsourcing for the real estate industry

  • Maintenance of full accounting for the real estate industry: recording rental revenues, owner costs, service charges and re-invoiced items.
  • Preparation of reports in the required format: reports with a detailed breakdown of costs charged to tenants and those constituting the owner’s cost; preparation of consolidated reports showing data for the asset portfolio.
  • Support during statutory audits and group packages.
  • Assistance in meeting loan agreement requirements (covenants) and support in the drawdown of loans – we forecast and estimate potential risks, agree and prepare the necessary documents in connection with loan agreement requirements.
  • Integration of data from operational systems: property management (PMS) and Point of Sale (POS) systems with ERP.
  • Accounting period closings, financial reports in accordance with the Accounting Act or IFRS, cash-flow, group reports.
  • Preparation of operational reports in accordance with the USALI standard (Uniform System of Accounts for the Lodging Industry).
  • Verification of the correctness of calculations of deposits paid by tenants against balances on dedicated bank accounts.
  • Settlement of real estate investments and depreciation of fixed assets.
  • Preparation of detailed information on the financial results of companies in the group, such as rent collection.
  • Support or taking over the obligation to issue sales invoices for tenants on behalf of the property owner or property manager.
  • Preparation of cash flow reports.
  • Preparation of payment data, handling of bank accounts and automation of accounting processes.
  • Applications for certificates of no arrears.
  • Payment delay monitoring and payment reminder issuance.
  • Implementation of the charts of accounts used by the client across the entire group.
  • Preparation of documents/information/calculations for due diligence purposes.

  See more: Accounting outsourcing.

• Tax advisory, tax reporting for the real estate industry

  • Fulfilment of tax obligations, VAT, CIT, PIT declarations, real estate tax, withholding tax.
  • Advisory on accelerated VAT refund upon acquisition of real estate.
  • Support in selecting tax reliefs tailored to the business activity.
  • Tax planning, proposals for solutions minimising tax and financial risk.
  • Advisory on the tax consequences of exiting an investment or selling it.
  • Support during tax audits and due diligence.
  • Preparation of transfer pricing documentation for the group.
  • Advisory on real estate transactions, debt-to-equity conversions, loan assignments, asset deal/share deal.

  See more: Tax advisory, VAT advisory and Tax compliance.

• HR and payroll, HR outsourcing for the real estate industry

  • Payroll and HR services for teams managing real estate, warehouses, offices, student residences and hotels.
  • Maintenance of personnel files, employment contracts, B2B contracts and managerial contracts.
  • Settlement of overtime, bonuses and benefits, recording of working time and holidays.
  • Preparation of HR reports and employment cost analyses for managers and investors.

  See more: HR and payroll outsourcing.

• Legal advisory for companies in the real estate industry

  • Verification of contracts with funds, operators and tenants.
  • Legal dispute resolution and preparation of internal procedures and regulations.

  • Analysis of lease agreements for potential tax risks associated with the settlement of tenant incentives.
  • Legal and tax analysis of concluded lease agreements and the operation of a commercial property, including tax issues relating to marketing events for tenants and their clients.

  • Support in the area of labour law.
  • Preparation of work regulations.
  • Verification of counterparties against sanctions lists.

  See more: Legal advisory.

• Expansion into new markets, business development

  • Support in the purchase, construction and sale of real estate.
  • Company formation in the CEE region.
  • Preparation of loan documentation and financial forecasts.
  • Administrative process, settlement, payment, and real estate portfolio reporting planning.

  See more: Expansion into new markets.

• Extended scope of accounting and tax services for logistics parks

  • Settlement of multi-phase investments in cooperation with the construction manager.
  • Preparation of balance sheets and other documents for the purpose of obtaining bank loans, as well as loan settlement.
  • Cooperation with property managers, reconciliation of SCR costs and owner costs.
  • Preparation and oversight of all payments, including payments of costs relating to service charges.

• Access to the necessary functions of the F-K (accounting) system for logistics parks:

  • Ability to independently issue rent invoices in the accounting system and automatically upload invoice lists by property managers.
  • Preview of transactions in the accounting system and independent generation of reports.
  • Ability to use objects in the system, i.e. maintaining a very detailed cost centre.

FAQ

• What does accounting and tax advisory for the real estate industry at KR Group look like?

  Tax advisory for the real estate industry requires specialist knowledge and a deep understanding of the specifics of this sector. Investments in commercial real estate involve numerous fiscal obligations, the correct fulfilment of which is of key importance for the financial security of the business. The KR Group team of experts combines many years of experience with a practical approach to the needs of clients operating in the real estate market. We invite you to familiarise yourself with our offer and establish cooperation.

  Accounting for the real estate industry is characterised by the need to take into account complex ownership structures, multi-stage investment processes and specific principles for settling rental revenues and asset management. Meanwhile, tax advisory for the real estate industry covers, among other things, the analysis of the tax consequences of transactions involving the acquisition and disposal of commercial properties, issues related to withholding tax and the correct settlement of VAT on construction services.

• Tax advisory and accounting for the real estate industry – for whom?

  The accounting service for the real estate industry is directed at entities investing in commercial real estate – special purpose vehicles, investment funds, developers and real estate portfolio managers. We serve both domestic and international companies that operate in Poland or plan expansion in the CEE region. Regardless of the scale of operations – from individual projects to complex holding structures – we treat each cooperation individually, tailoring the scope of services to the actual needs of the client.

  Our services are directed at many sectors of the real estate market, covering office buildings, shopping centres, logistics parks, hotels, student residences and residential investments. We support entities operating in various market segments, tailoring solutions to the specifics of a given investment and the requirements associated with property management, tax settlements and accounting.

• Accounting and tax advisory for the real estate industry – what is KR Group's offer?

  As part of our service to the real estate sector we provide comprehensive tax advisory for the real estate industry and full accounting for special purpose and operational companies. Our support covers the maintenance of accounting books, financial and management reporting, VAT and CIT settlements, transfer pricing services, as well as tax reviews and representation before tax authorities. We also create tax procedures reducing fiscal risk and help identify available tax reliefs.

• Why does accounting for the real estate industry require a specialist approach?

  The real estate sector is characterised by complex ownership structures, long investment cycles and specific tax regulations. The correct settlement of transactions – such as the acquisition, sale or refinancing of real estate – requires an in-depth knowledge of regulations. Our tax and accounting group has a team of experts who have been specialising in serving this sector for years. Thanks to this we ensure full compliance with applicable law and minimise tax risk.

• What benefits does the outsourcing of accounting services in the real estate sector bring?

  Entrusting accounting for companies in the real estate industry to an external partner allows internal resources to be concentrated on the implementation of the investment strategy. Accounting outsourcing at KR Group covers, among other things:

  • maintaining accounting books in accordance with local standards, IFRS or US GAAP,
  • preparation of consolidation packages within tight deadlines,
  • statutory, management and statistical reporting,
  • ongoing supervision of settlements and the fixed assets register.

• What distinguishes KR Group's tax advisory for the real estate sector?

  Our tax advisory combines expert knowledge with a practical understanding of business processes typical of the real estate market, taking into account the specifics of a particular sector. We support clients in the area of withholding tax, transfer pricing, minimum tax and MDR tax scheme reporting – always taking into account the specifics of the given transaction. Tax advisory for companies operating in this sector is provided both in person and remotely.