The Kardin Budget System is an operational tool designed for property managers. As the “captain of the ship” for their properties, managers have first hand knowledge of the leasing and expense assumptions that produce their operating budgets. Kardin has all the features and functionalities that they need for budgeting and re-forecasting as well as calculating operating expense estimates and reconciliations. While many features are common for all property types, Kardin has built-in business specific tools for office buildings, industrial sites, multi-building projects, multi-family properties, and retail centers.

Kardin integrates with the major accounting packages used in the real-estate industry such as MRI, Yardi, JDE, Timberline, Skyline and others. As long as data can be exported into an Excel format, Kardin can import it. Our Batch File Maker (a free utility) allows you to import large quantities of accounting data and will create Kardin files already populated with the most current information.

Once a budget file is setup in Kardin, all of the calculated items are dynamically linked, which means that if expenses or occupancy changes, Kardin updates the affected line items and recalculates the NOI automatically. When the budget has been completed and approved, it can be exported into an Excel report that is ready to be imported into the property management system. This can also be done with the Kardin Consolidation System for companies who wish to import many completed budgets at one time. Kardin can also create an Argus (.aif) file which will populate the rent roll and current expenses of an Argus file for 10-year cash flow.

Kardin provides the most comprehensive set of reports in the Real Estate Industry. We have created our reports based on the feedback and suggestions of the largest and most sophisticated property and asset management companies in the nation. Most of the reports in Kardin have multi-layer backup schedules that allow you to see exactly what information was entered in the budget and how the final numbers were calculated. In today's reporting-intensive environment, this is a critical factor.

To learn more about the actual steps involved in using Kardin, whether it is for a single building, or an entire portfolio, please visit the Implementation page.  We can also provide you with an live on-line product demonstration which will give you an overview of the features and functionalities.

Product Lineup

The Kardin Budget System - Single Building License is used to create budgets and reforecasts for stand-alone properties. The properties can be office, industrial, retail or mutli-family.

The Kardin Budget System - Multi Building License is used to create budgets and reforecasts for multi-building properties that have expenses that need to be allocated to the different buildings. These properties are typically represented by office/industrial business parks. Users of the Multi-Building License can create both single building budgets and multi-building budgets.

The Kardin Consolidation System allows owners and asset managers to consolidate the various budget files that have been prepared by the managers. This can include single building files, multi building files and other consolidation files.

The Kardin Batch File Maker allows companies to generate all of their Kardin files from a single accounting export.  The files created can be either budget or reforecast files, and they can be populated with both leasing and financial data.  This saves a great deal of time when implementing Kardin.

The Kardin COA Utility is used to automate changes to a file's Chart of Accounts.  For example, if a property has changed ownership and the COA needs to be converted.

Product Features

Chart of Accounts (COA)

• Multiple COA templates to use for different property types or owners
• Alternate Chart of Account for joint ventures
• “Locked” COA to prevent end users from adding, deleting or changing account setup

Multi-Building/Cost Center

• Manage more than one cost center/building/structure in one file
• Unlimited user defined expense allocations
• When an expense is updated on an aggregated level, Kardin updates the allocation to the individual buildings
• Recoverable Expense (CAM) Pools can be arranged at each building level or at the entire project level
• Reporting available by building or by entire project (consolidated)

Budget Data Entry

• Ease of Use – minimal training required
• Descriptions and monthly amounts entered at “sub-account” level – one level below GL
• Can view previous year’s budget or actuals for comparison during data entry
• All calculated data links are locked

Leasing

• Tracks both Measured and Leased SF for each suite
• Leases defined as “Contract”, “New Lease” or “Renew/Expansion Lease”
• Base rents, steps and pro-ration calculations
• CPI calculations
• Tenant Expense Reimbursement
• Percentage Sales Rent calculations
• Leasing Assumptions can be applied to multiple suites
• Rents, Tenant Improvement and Lease Commission calculation by lease

Operating Expense Recoveries (CAM)

• Monthly Operating Expense (CAM) Estimate calculation at tenant detail level
• Prior Year Operating Expense (CAM) Reconciliation
• NNN, Base Stop/Amount/Schedule, Fixed Amount Recoveries
• Operating Expense Gross Up and Cap Calculations
• Unlimited Expense Schedules with a detailed audit trial
• Tenant Statements for estimates and reconciliations

 Retail Specific Recoveries (CAM)

• NNN Recoveries
• Unlimited denominator pools allow you to determine which group of tenants share in a set of expenses
• Allows for deduction of an anchor tenant’s contribution
• Unlimited CAM pools for each tenant

Multi Family

• Simple import of initial and updated Rent Roll data
• Calculates Gross Potential Rent and Loss to Lease
• Unlimited turnover costs automatically tied to move ins, move outs, renewals
• One-time Concession and Recurring Concession calculations
• Occupancy Projections

Payroll

• Payroll by salary or hourly (with overtime options)
• Unlimited Burden/Benefit calculations by % or amount, with cap/base set up

Amortization/Debt Service

• Amortization/Depreciation calculation for capital and expenses
• Debt Service calculation – simple interest/principal over term of the loan

Reforcasting

• Import YTD Actual GL data from any accounting system or Excel
• Re-project data for remaining months in the budget year
• Re-project occupancy and leasing assumptions
• YTD and 12 month Actual vs Budget analysis and explanation reporting
• Operating Expense Reconciliation Tenant Statements

Import/Export

• Import the current Suite, Tenant and Rent data from any accounting system or Excel format
• Import Historical and other applicable GL Data for financial comparison
• Import Year To Date Actual GL data for reforecasting
• Export features allow integration of data with most accounting systems
• Export of Rent Roll data to Argus .aif file

Additional Features

• Historical Financial management for reporting needs (both trending and analysis)
• Custom Calculations based on Selected Income Accounts, Selected Expense Accounts, Property Occupancy, NOI, or Property Value (i.e. Management Fees, Sales Tax, Cleaning Contract, Asset Management Fees)
• Multi Year budgeting with percentage increase calculation

Kardin Consolidation

• Consolidate Budget or Reforecast files (including Commercial and Multi Family) with like Chart of Accounts or with an "alternate" COA
• User defined property groupings for analytical and reporting purposes
• Currency Conversion for reporting
• Yield calculations by property and for a selected portfolio
• Variance Report available when consolidating reforecast files. This report will allow portfolio comparison of YTD Actuals vs YTD Budget as well as full year reforecast vs budget. This report allows the input of variance explanations
• Export of consolidated financial data, yield data, occupancy data, property/portfolio information to Excel