Commercial PROPERTY MANAGEMENT
STRUCTURE Commercial Property Management was created for the sole purpose of providing turn-key management services to investors of retail, office and industrial properties throughout Northern Florida and Southern Georgia.
- How can I position my asset to attract local and regional tenants?
- Is my management company also representing my biggest competitors in the region?
- What is my short-term and long-term marketing plan? Investment plan?
By choosing STRUCTURE you ensure that your investment is being managed by someone that SPECIALIZES in commercial leasing and management. We provide comprehensive property management services that maximize the income and appreciation potential of our client’s assets. Our in house accounting service ensures greater control and confidentiality of your asset’s performance.
Keys to our expert services that allow our clients to focus on their own business operations, knowing that our experts are attending to all of their real estate details:
- Leasing & Occupancy – Marketing is tailored to the property’s specific requirements
- Collections – Diligent and timely collection efforts
- Renewals & Increases – Maximize tenant retention to reduce vacancy loss
- Payables – Pay all bills associated with the property
- Maintenance – Provided 24 hour response to all issues
- P & L Statements – Compiled monthly, detailed revenue, expenses and profits
- Budgets – Yearly projections updated monthly in order to accurately project upcoming capital needs
- Yearly NNN Reconciliations – Experienced in triple net properties
- • Prepare budgets. Annual budgets are prepared using historical data to forecast next year’s income and expenses.
- • Review collections for adherence to rent schedules. Rent collection data, per the Lease, is computerized and cross referenced monthly for accuracy.
- • Approve Invoices – All invoices are checked against estimates and work is inspected before payment.
- • Pay bills, collect and deposit rents – Bills are paid promptly to avoid late charges. Rents are collected timely and late charges assessed if provided in the Lease.
- • Manage bank balances – Bank statements are reconciled monthly and copies furnished to the client.
- • Prepare monthly financial statements – Monthly P&L statement, Income & Expense statement, Bank Statement and current Rent Roll are emailed to the owners by the 20th of the following month. All statements have line item entries and YTD column.
- • Provide ownership and their respective accountants, if necessary, with information for tax-related year end financial information, balance sheet and all financial reports by January 31st of the following year. Property Manager will be available to meet with the member and respective accountants and furnish any additional information or explanations.
- • All Leases are reviewed for rent escalations to understand each landlord’s and tenant’s responsibilities. Rent schedules for each tenant are recorded in the computer and will automatically trigger necessary rent increases when required.
- • Establish and maintain constructive vendor relationships for building operations. The vendors and our firm’s property managers and maintenance staff will have 24 hour per day / 7 days a week access to one another if they have any questions about service or work orders for building.
- • Schedule and supervise building maintenance – Scheduled maintenance contracts are suggested to maintain complete efficiency and longevity of the equipment. On each service date our Senior Maintenance Technician will meet the vendor on site to discuss and report any issues with the building equipment and/or systems. Regular maintenance items, as approved in the budget, are scheduled by the Property Manager and implemented by our maintenance staff under the supervision of a Senior Maintenance Technician.
- • Provide single responsive point of contact – Structure Commercial Property Management maintains an emergency cell phone number that is monitored 24 hours a day / 7 days a week by the Property Manager or Assistant Property Manager on duty. All tenants have the number and an email contact to report emergencies.
- • Promptly handle accidents, and building intrusions. This type of response will be answered immediately by our maintenance staff or supervisory staff. The building security monitor will be instructed to call the Property Manager with any building alarms and he will respond with appropriate action.
- • Daily janitorial service will be inspected for cleanliness and adherence to the vendor contract. The Property Manager(s) will check from with all building tenants on consistent basis to see if any have complaints or comments. At janitorial contract renewal, we will request competitive bids for janitorial services should an opportunity to achieve operating savings can be accomplished by using another vendor.
- • “Building opening” by our staff will be completed as directed by the client. During opening and during public functions or events, our firm’s staff will perform a building check list and policy procedure as provided by the Property Manager.
- • Our firm will work with the security and fire protection companies to see that all areas of protection are in good repair and operating correctly. A full walk-through and inspection will be made of all systems within the first 30 days under management contract to assure that all fire, life safety and security areas are adequately covered and understood by both property managers and maintenance staff.
- • Initial and regularly scheduled contact with the tenants will be established to create goodwill and familiarity with our team and staff. We will have an established relationships with building tenants so that problems will be resolved amicably and to the satisfaction of all parties. Any changes or revisions to building rules and regulations will be i) delivered to each tenant and ii) posted in a high traffic public area for viewing.
- • Foster and Maintain Good Tenant Relations: The number one thing commercial property owners must do in today’s economy is tenant retention, which starts with tenant relations. Our firm is committed to work with all tenants and immediately answer any questions or inquiries regarding their lease or building regulations. We will resolve all problems in the shortest possible time and present our solutions personally to the tenant representative. Our staff will follow up at a later date to make sure that the tenant is completely satisfied with the solution.
- • Designated parking spaces that are assigned to Property will be maintained and monitored for authorized use. Parking space rental fees will be billed and collected per the terms in each Tenant’s respective lease. To ensure parking spaces are fully leased, a list of potential users will be kept to assure that no loss of revenue occurs due to a vacancy.
- • All leasing activity, renewals, new leases, and market rent analysis will be provided by one one of our brokerage team members with local leasing knowledge and experience. Accurate rent rolls will be kept by the Property Manager and furnished to the client quarterly or upon request. Should a lease be renegotiated or a new tenant relocation to building occur, compensation with our firm can be based upon percentage of rents paid over term of the lease.
- • As related to tax assessments for property, TRIM notices will be evaluated by the Property Manager and brokerage team. Any deviation from the fair market value will be noted and an assessment hearing will be requested upon written authorization of the client.