Asset and Property Management
The major services provided by Asset and Property Management services include the following, but may vary depending on the specific needs of the asset.
The Portfolio Manager and Field Supervisor will visit the property and handle tenant issues, health and safety issues, maintenance and related subjects and prepare appropriate solutions.
24-hour Emergency Service Line, which will allow tenants and others access to the managers of your property even on holidays and weekends. Should any emergency occur, we will notify you immediately.
Monitoring of vendors and contractors, preparation of specifications for new contracts, negotiation and/or renegotiations for new contracts, and performance evaluation of existing contracts. Initially, all contracts will be reviewed and recommendations will be made with regard to cost effectiveness.
A monthly financial statement, on a cash basis, will be prepared and include an executive summary of operational activity and variances to the budget, a general ledger, a balance sheet, a budget comparison report, a summary income sheet, an aged delinquency report, an income register, rent roll, check register and a bank reconciliation report.
Property Asset Management Services
Prepare tenant billings, collect rent and administer leases.
Monthly narrative report will be provided summarizing the activities for the prior month
remaining.
Year End Budget shortly after commencing will be prepared and the annual budget will be prepared for the property and submitted prior to the start of each calendar year.
Preventative maintenance programs are established for the building's mechanical components.
These programs are completed with vendors with inspections made by the Company staff.
Tenant Satisfaction Surveys are sent out periodically to measure the performance of the management and maintenance personnel, as well as to assist with the future planning process.
The management staff monitors all tenant improvement work and works closely with tenant improvement manager to maintain integrity with the tenant.
Implementation of strong tenant relations programs and administration of all tenant leases, coordinating closely with the leasing team.
Maintain constant review of physical structure, provide recommendations and implement programs to maintain the image of the property.
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Commercial Asset and Property Management
Property Inspection Services: Frequent professional property inspections, usually one visit per week.
Financial Budgeting Reporting: Preparation of an semi-annual budget for the receivership period.
Vendor Management : Supervision of all building vendors and any on-site staff.
Invoice Management: Review and approve all property invoices.
Debt Collections Service: Collection of all rents and any other amounts due.
Work Order Tracking: Implement a work order management system.
Status Reporting: Provide monthly written reports.
Managed Payroll Services: Provide payroll preparation and processing service to any on-site personal.
Tennant Landlord Requests: Communicate with tenants and respond to their requests.
Lender Communications: Communicate with lender on any issues that may arise at the property.
Emergency Response: Respond quickly to any type of building emergencies.
Leasing Service: Provide professional leasing services upon request.
Tenant Services: Handle all tenant retention issues, warnings and evictions.
Construction Management: Provide construction management solution services upon request. |