Our Management Philosophy
Valued Added Mission
We believe our job as property manager is to add value to each property we manage. We continually strive to improve the bottom line and the value of each property we manage by working with each owner to implement improvements in operations, tenancy and physical plant, treating each property as if we were the owner.
We know how important it is for your property manager to cultivate good working relationships with your tenants, our mutual customer. We go to great effort to ensure top quality service to your tenants, including:
- Very frequent property visits to build solid, positive working relationships with your tenants and key vendors.
- Annual tenant satisfaction surveys at your request, created and mailed at our expense, completed anonymously by your tenants, and fully disclosed and reported in our monthly property narrative.
An unwavering focus on property management. We cultivate good relationships and open communication with the leasing agents at our properties, and routinely hire and supervise leasing agents per our investors’ request, but prefer to direct our full attention to what we do best: caring for your investment, your tenants, and your assets.
Financial Reporting and Capital Management
Our property investors trust us to manage significant assets on their behalf. To ensure that our clients never suffer a moment of worry, our standard monthly reporting includes
- Clear, concise profit and loss statements and balance sheets.
- Unusual line items and expenditures explained in detail and substantiated.
- Income postings proofed against the rent roll and documented in our monthly reporting.
- Lender escrow accounts proofed to the balance sheet and documented in our monthly reports.
- Budget performance and variances monitored, reported, and forecasted.
- Excess funds invested in safe, short-term vehicles at the highest interest rates available.
- Online access to your trust account allows 24/7 monitoring of account activity.
We understand how anxiety-producing it can be to own a major asset in an offsite location. Our monthly property narratives contain all of the information you need to stay informed and make sound decisions regarding your investment, including
- Current photos of your property.
- Thorough and complete information about your tenants.
- Details on key vendor negotiations and changes.
- Information on local and governmental issues affecting your investment.
- Action items requiring your input clearly identified to save you time.
Quality and Cost Controls
Maintaining your property to a first-class standard while controlling CAM costs often involves a delicate balancing act between competing interests. We employ a rigorous vendor qualification and monitoring program to achieve both goals, including
- Automatic bid process on all annual vendor price increases exceeding 3%.
- Routine visual repairs require before-and-after photos and tenant satisfaction check before invoices are approved for payment.
- Major repairs require onsite inspection before invoices are approved for payment.
- Regular maintenance schedules conform to manufacturer’s specifications and investor and tenant needs, rather than vendor desires.
- Expenses for similar properties in a given geographical area are spreadsheeted quarterly and compared to identify potential cost savings and line items to be put out for bid.
- Vendor qualifications are established through license and BBB checks, insurance verification, and a minimum of three excellent references before vendors are eligible for inclusion on our vendor list.
Budgeting and Forecasting
We understand that budget priorities can vary from year to year, and within the course of a given year as circumstances change. To assist you in making the best choices for your investment, our budgets include
- Complete explanations of the assumptions upon which our budgets are based.
- Our analysis of the effect of our budget projections upon owner distributions.
- A midyear budget performance review with recommended 2nd half revisions as appropriate.
- Ample opportunity for your input on the coming year’s budget.