After acquisition, the success of an investment is directly correlated to the effective management of the property. Our team of experienced asset managers oversees a wide spectrum of property types across markets. We establish a management and leasing strategy, create an annual operating budget, and inspect each of our clients’ properties on a regular basis.
Property operations oversight
- ▪Select and supervise local leasing and property management agents.
- ▪Secure and maintain property, liability and other insurance coverage.
- ▪Supervise all renovations or capital improvement programs.
- ▪Set up and maintain bank accounts to distribute and receive client funds.
- ▪Make real estate tax and debt service payments as required.
- ▪Monitor and control all receipts and disbursements.
- ▪Review actual financial results against budgets on a monthly basis.
- ▪Carry out property site inspections on a quarterly basis.
- ▪Coordinate with outside accounting and legal firms on all tax filings and audits.
Leasing
- ▪Develop a leasing strategy for each property.
- ▪Identify a leasing broker and implement the strategy.
- ▪Negotiate lease terms.
- ▪Work with outside legal counsel to document leases.
Financing
- ▪Manage all financing or re-financing of property, including negotiating terms and modifications of loans.
- ▪Ensure the property is managed in compliance with loan obligations.
Disposition
- ▪Identify a sales broker.
- ▪Develop and implement a marketing strategy.
- ▪Negotiate any purchase and sale agreement for the sale of the property.
Accounting & reporting
- ▪Create annual operating and capital budgets.
- ▪Manage audits or third-party appraisals as needed.
- ▪Review monthly accounting and property management reports.
- ▪Provide a quarterly asset management report with a complete review of the property’s operations.
- ▪Provide officers and directors of holding companies, as well as other corporate services, as needed.