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Property Management

Commercial Asset Partners Realty is focused on successfully managing your assets. In a challenged economy, nothing is more important than maintaining the value of your property.

We work with you to accomplish that goal by retaining tenants, minimizing expenses, and keeping the property in excellent condition within the budget.

We act as if we are truly your “partners” in the property and work with you to meet or exceed your expectations.

During the first month of property management, all take over information is reviewed. Nothing is presumed correct until it has been confirmed. We provide a take over report within the first 30 days.

This report will include the following...

Introduction

  • Cover letter summarizing our findings and the initial management report.

Property

  • Includes detailed property inspection and maintenance checklist reports.
  • Notes any problems and conditions of vacant units. Identifies and lists repairs, deferred maintenance, and capital items that are needed for each unit.
  • Includes photos of problems with approximate cost to repair.
  • Includes a review of vendors providing services with changes needed or completed.
  • Notes any safety hazards and correction plan.

Financial

  • Prepares a preliminary budget.
  • Prepares a list by account number which identifies the source of the budget numbers and any adjustment assumptions.
  • Set-up bank accounts, sales tax accounts, and general ledger accounts.
  • Lists any general ledger accounts that do not reconcile correctly.
  • Prepares leasing assumptions report, noting the renewal rates, commissions and tenant improvements for new and renewing tenants.

Tenant

  • Makes contact with all tenants in person and address any concerns.
  • Reviews collection policies and identifies any problems.
  • Lists all discrepancies between rent rolls and leases.
    Reviews last pass thru reconciliation.
  • Reviews tenant file and completes release abstract.
  • Encloses tenant questionnaires and responses.

Annual budgeting and management plans are developed and presented to the owners for approval. On a monthly basis a report is presented with a narrative on the status of the property, recent maintenance performed, and planned maintenance within the next 30-60 days.

Budget variance report and narrative, cash flow, banking information and financial back up is also provided.