Property Management

Development of a comprehensive marketing and management plan in conformity of owner’s business objectives including the following:

• Annual operating revenue and expense budget
• Marketing/leasing plan
• Market analysis
• Capital improvement budget

The client shall be provided with a customized detailed accounting and financial reporting, and reports and to leasing and the physical condition of the property. Utilization of specialized commercial property management software to optimize the level of quality information for maximizing the efficient of the property management and review of performance by the client. The reporting shall contain the following:

• Written condition report
• Facilities maintenance reporting
• Leasing reporting
• Receivables status
• Budgets and long-term assessment of valuation and goals evaluation via a multitude of analysis modalities on a regular basis
• Marketing report
• Leasing activity report
• Projected capital expenses
• Summary of the months management activity
• Rent roll
• Accounting
  • Balance sheet
  • Income statement
  • Cash flow statement
  • Trial balance statement
  • Cash disbursements report
  • Financial projections and budgets
  • Delinquency and accounts receivable reports

Property maintenance and repairs in conformity with owner’s management plan

• Work with and supervise independent contractors in maintenance of the property
• Customized and detailed asset unit and suite reporting system
• Supervision of alterations, improvements, remodeling, fire restoration, rehabilitation work, and major repairs
• Property inspections and related reporting
• Negotiate favorable rates for landlord with independent contractors for maintenance of the property
• Supervise individual hired to perform daily maintenance of the property
• Preventive maintenance of property
• Risk assessment as to insurance requirements of the property
• Negotiate and procure insurance coverage for buildings and rates for this coverage.
• Insurance claim processing and support
• Tax appeal support. Contest real estate tax bills as needed to obtain optimal valuation for taxation purposes.
• Work with city and county officials to get favorable treatment under the prescribed regulations
• Zoning, regulatory and governmental code compliance assistance
• Inspect building and property for areas that need repair
• Project and construction management
• Purchase supplies and make necessary repairs, alterations, and decorations
• Execute contracts for ordinary repairs, maintenance, cleaning, landscape maintenance, and operation of the property.
• Make purchases and let bids (minimum 2) for necessary labor and materials at lowest possible cost as in its judgment is consistent with good quality workmanship and service standards.
• Inspect property regularly (one time per week) and present recommendations to owner regarding physical condition, so as to maintain the property at a high standard of physical appearance, efficiency, functionality and cleanliness.
• Vendor administration
• Accounts payable and cash flow management
• Repairs and maintenance oversight
• Maintenance contract bidding and supervision

• Prepare tenant correspondence regarding enforcement and coordination with tenant as to lease terms
• Invoicing of tenants as needed for rent increases and modification of operating expense reimbursements.
• Enforcement of tenant obligations.
• Collections management of tenant receivables
• Common area maintenance operating expense pass thru reconciliation, enforcement and oversight
• Tenant relationship and retention management
• Lease administration
• Online maintenance requests for tenants
• Tenant file maintenance
• Enforcement of lease terms including preparation of three-day letter and cooperation with attorney in eviction procedures if necessary
• Maintenance and enforcement of insurance certificate requirements
• Maintenance of rent roll, tenant and unit reports
• Manager shall make diligent efforts to collect rents and other accounts payable to the owner by the tenants
• Tenant relations: Agent shall maintain business-like relations with tenants and respond promptly to all reasonable requests for service, taking such action as is necessary to insure tenant’s comfortable occupancy.

Supervise the maintenance of complete and accurate records of all receipts and disbursements pertaining to the operation of said premises. The agent shall maintain a set of books for said premises.

• Pay all bills associated with the property
• Make deposits of rental receipts
• Preparation of sales tax returns
• 1099 preparation
• Preparation of financial statements including balance sheet, income statement, cash flow statement, general ledger, and trial balance report.
• Preparation of cash receipts reports.
• Preparation of cash disbursements reports.
• Preparation of aged accounts receivable reports.
• Assistance with CPA to provide components necessary for annual federal tax return preparation