Overview

The Client, a distressed Florida based property management firm came to Optimal looking for an Advisor to support them during their Department of Real Estate (DRE) Audit, Divestiture of their Short-Term Rental Business, and Long-Term Rental Business as two separate entities.

Optimal first completed a review of their organization (process & people) through a series of conversations with the owner, their attorney, and their key stakeholders. Next, a review of their accounting softwares took place, outlining key areas of historical catch-up/clean-up, chart of accounts clarity, and opportunities for consolidation and process improvement.

With an action plan outlined, Optimal began working hand-in-hand with the Client. Multi-year historical catch-up and clean-up, preparation of DRE requests, and sale ready financial statements took a total of 6 months to complete.

With Optimal Advisory, the Client was able to provide interested buyers with financial statements that conveyed the true performance of each respective business, short-term vs. long-term.