PROPERTY/ASSET MANAGEMENT

We focus on the importance of property management and realize that a strategic property management program can have a tremendous impact on the growth and profitability of an investor’s asset – their property.

Asset management will seek to maximize the value of property not only with overseeing it’s day-to-day operations but contributing to its long term growth.

Our focus will combine the physical management of a property, tend to the importance of tenant relations and retention and include financial management as well. Our goal for the investor is to maintain and upgrade the property resulting in its ability to command the highest market rents increasing it’s market value.

PHYSICAL MANAGEMENT

Day to day operations of the property

Maintenance and repair decisions of the property

We will work with ownership to establish leasing guidelines, rental rates, marketing programs, capital expenditure decisions on replacements, renovations or additions.

Property maintenance – not only does the property need to be maintained on a daily basis, it must be kept from deteriorating or falling out of repair – we will focus on “preventive maintenance” and seek to avoid problems before they arise thus protecting your property from costly repairs.

We will conduct periodic building inspections to determine what repairs are needed. Repairs that are a tenant responsibility will be addressed as they are necessary insuring that the building is properly maintained by the tenant, preventing costly renovations when a tenant does move out.

A properly maintained building will retain its value and will be competitive with any other buildings in the area within the same potential rental market.

LEASING

An important element in property management is leasing. Our goal is to reach and maintain a 100% occupancy rate.

A good property management firm should be able to market and lease available space even before the space becomes vacant.

A totally occupied property maximizes the property’s cash flow and its resale value.
Ability to draft and negotiate all leases and renewals to the best advantage.

Excellent record keeping for lease renewals reviewed well in advance of lease termination dates supplies necessary information about the tenant – current rent, operating expenses paid, options and other pertinent data including a tenant’s history regarding rent payments, legal problems, etc. enabling ownership and management to determine whether the tenant is even one worthy of retaining.

Understanding “tenant management” with regard to the interpretation of responsibility for maintenance, i.e. what specific areas of the building are the owner responsible for and which areas will be the responsibility of the tenant.

An emphasis on important lease clauses and clearly stating responsibility specifics while negotiating and drafting the lease is paramount in order to avoid misunderstanding of obligation.

When a new tenant moves into the building we begin a strong, mutually beneficial relationship, we follow up in writing explaining the responsibilities of all parties regarding maintenance.

Assistance is always offered to the tenant, even in his area of responsibility thus insuring that any job needing to be completed is done properly, at a fair price and for the benefit of tenant and owner.

We are always available for each tenant, communicating, assisting. When a tenant renews his lease – even six or seven months before his lease expires, it is accomplished at minimal expense to the owner and often the result of an effective tenant management program.

Financial Management – an extremely important part of the process. The property manager concerns himself with operating budgets, year-end statements and projections, major component replacement decisions, etc. Monthly financials including income statement and balance sheets, rent rolls and delinquency reports are produced for ownership giving him a month to month snapshot of the property’s performance.