We provide the following Property Management Services to meet our clients individual and unique business and property needs.
We help you quickly establish control.
Conduct extensive data collection for the property which includes; tenant leases, service contracts, building plans, building detail, equipment info, warranty info, operating cost history, insurance policies, financial records, property tax records, etc.
Service platform, this includes completing the transfer of all current contracts for service providers for the property. Once the transition is complete, we conduct a review of the agreements and review of the level of service provided by each service provider. Where there may be gaps in the services provided, we will move quickly to secure a new or replacement of a service provider to fill any gaps in service.
Property accounting set up, a dedicated property account will be set up within our system, we will on-board financial and tenant information into our system. We will set up dedicated checking and money market accounts for the property, we do not comingle funds from different properties.
Central responsibility, protection of your real estate.
Conduct periodic inspections of the building by one of our Property Managers.
Maintain service professionals to address building operations which are Landlord’s responsibility which includes; maintenance, repair or replacement of the building systems (roof, landscaping, HV/AC, electrical, plumbing, parking lot, etc.). These services are actively bid annually and a full summary of the bids and selection of a service providers are presented to the building owner. Once a service provider is selected, we monitor work progress and quality of service during the year to ensure compliance with the contract as well as level of service.
Conduct periodic inspections and maintenance review of the building systems. Review reports from service providers retained by the tenants for repair and maintenance work that is their responsibility.
Communicate with Tenants, discuss operational issues within their leased premise or the common areas. Ensure any issues are addressed to maintain a satisfied tenant base.
Conduct an extensive review of the current insurance policies covering the property and make recommendations to the building owner for any coverage changes we feel would benefit the building owner. Assist building owner in working with their insurance carrier.
Review property tax assessment and reappraisal as they are submitted to the Owner. Engage Property Tax Consultant to review county valuation and determine if a formal protest is warranted. Manage the Consultant if a formal protest is filed and assist as needed in the process to achieve the lowest possible valuation.
Financial and Accounting
Our services are fully transparent.
Set up the property within our property accounting system.
Monthly billing to the tenants for rent and other charges as they may be due. A detailed invoice is sent to each tenant monthly which details the charges that are due for the month.
Collection of the monthly rent from each Tenant. Our Accounting staff monitors the payment of the monthly rent by each Tenant. If a Tenant is delinquent in the payment of their rent or other charges, the accounting staff interacts with such Tenant to collect the rent amount due. A rent report is generated and reviewed internally by the accounting staff and the property management staff. Delinquent rents are discussed and an interaction plan is established for each Tenant who is delinquent. A complete rental summary report is provided each month to the building Owner and a summary of our activities to collect any delinquent rent.
Process and pay all expenses for the property that are not paid directly by the building owner.
Complete year-end reconciliation for the costs included in the full service charges.
We act as stewards of your financials.
Dedicated checking and money market accounts: we will establish a dedicated bank account for both the operations of the property as well as a money market account to hold excess funds. These accounts will be dedicated to the property, we do not co-mingle funds from other properties.
Financial Reporting; as part of the monthly management report, a complete detailed financial summary will be provided. Included with this summary will be; Property Profit and Loss Statement, Balance Sheet, Copies of all Bank Statements including cancelled checks, Current Rent Roll, Aged Accounts Receivable Report, Copies of all Property Invoices and other items related to the financial operation of the property that may come in during the reporting month.
As a part of the financial services we provide, if needed, we will pay the monthly mortgage payment out of the operating account if the Client requires that to be a part of our services.
Review property tax reappraisal and reassessment notices as they may come up, engage our property tax consultant to complete a review and then provide recommendations to the building owner regarding actions that may be necessary to conduct a formal protest to obtain the most favorable valuation.
Provide a summary report for the annual reconciliation’s for the costs included in the full service charges.
Send a check to the building owner representing the net income on a frequency as directed by the building owner.
Monthly Management Report
Keep insights keep operations running smooth.
Narrative summarizing the typical and non-typical operations of the building during the month. These include details on normal operating accurancies during the month and a general summary of service level for the building. Also, occurrences that would not be normal items we experience during a month, such as; major issue with a building system, weather event that may have affected the building, tenant activities that would be out of the ordinary. The narrative is design to give the building owner a detailed summary of the salient issues that occurred during the month.
Financial Reports which will include; Property Profit and Loss Statement, Balance Sheet, Rent Roll, Copies of all Bank Statements including cancelled checks, Current Rent Roll, Aged Accounts Receivable Report, Copies of all Property Invoices and other items related to the financial operation of the property that may come in during the reporting month. Lease term forecast report which shows a summary of the tenants and lease expiration terms. We have clients who require certain non-typical reports, our account staff works with our clients to produce reports that the client may need in a select format or other form, we create such non-typical reports to address specific needs of our clients.
Summary of the communications with any of the Tenants, Governmental agency, and Service providers during the month.
We can also provide.
Construction Services; through one of our internal construction companies; (LS Construction Services, Inc. or CRG) we can provide; construction management, new office construction, existing office remodels, building maintenance, parking lot repairs or reconstruction, roof repairs, exterior grounds modifications and other related services. With the use of one of our internal construction companies we can complete improvements relating to common areas, tenant spaces or other areas of the property.
Architectural; through our relationship with several local architects, we can provide interior office design, floor plans, square footage size confirmation, remodel plans for existing offices or common areas and other design requirements.
Engineering; through our relationship with both civil, structural and MEP engineers, we can address issues that may arise at the property that would require the review and input from an engineer.
Property Tax Review; through one of our professional consultants, we can arrange a consulting arrangement with a premier property tax consultant. This consultant has a long successful history of obtaining reductions in the appraised value of properties they are working on. In an era where property tax increases are common place, utilizing a seasoned property tax consultant can provide tremendous annual savings on property taxes.
Development; we are a seasoned development firm we are active in developing projects for our own account as well as for third party assignments for others