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PROPERTY MANAGEMENT: |
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We have an excellent working knowledge, both as a company and individuals, of all aspects of property operation. We use our skills and knowledge to develop the best possible ideas and solutions for our clients. This includes developing, negotiating, implementing and administering leases, which add the highest possible value to our owners' properties. Our company has managed a wide variety of different types of properties, such as mini-storage, assisted-living, apartments, industrial, office, and retail centers. We are experienced with both healthy properties and receiverships. By exploring the different types of management, we know that we can offer you the most complete perspective on property management.
The administrative function includes activities centered around the financial condition of your property. Columbia Commercial Properties, LLC, uses Yardi software system, a nationally accepted program used locally by several major investors. Your accountant will be able to prepare year-end returns in less time, saving you money on return preparation. Listed below, for your review, are examples of our standard monthly reports you will receive along with a multi-page narrative that discusses the activity at the property. Yardi is capable of producing numerous reports depending on the needs of our clients. The emphasis of our reporting is to guarantee that you will have, on a regular basis, the necessary information to assess the value of this investment and the effectiveness of management. Your monthly financial statements will include the following reports:
Columbia Commercial Properties, LLC, will review all lease documents and create a tenant rent roll for use in-house to administer all lease provisions. The rent roll is used in conjunction with the computer “tickler” feature. This document will contain: lease expiration date, number of square feet rented, monthly rental rate per square foot, monthly net charges, security deposits held and other specific tenant information. All leases are continually monitored to insure that all increases are collected when due. All expenses are reviewed on the same regular, frequent basis. We constantly compare operating expenses to similar properties in the geographic and competitive market, review the property’s expenses regularly and provide an annual budget. Major expenses, maintenance service agreements and taxes are compared annually with market rates or market bids. This is not meant to necessarily replace any service with the lowest bidder, but rather to poll the market conditions for renewing existing contracts and/or knowing potential costs in the event of a required change. If a significant change in cost is discovered, selection of a new supplier or vendor is immediately recommended. Columbia Commercial Properties, LLC is committed to aggressive rent and CAM collection. Should a delinquency occur, a late notice is sent immediately and, if applicable, a late charge is added to the amount due. Phone calls and site visits are made shortly after to help insure receipt of the funds. If further action is needed, a default letter is sent, with the next step being a notice to pay or vacate the premises. Before the latter step is taken, you will be part of the decision. At the end of each calendar year, Columbia Commercial Properties, LLC prepares an annual operating budget for the coming year as well as reconciles all CAM/Tax/Insurance expenses and payments received from the tenants.
Our objective is to keep your property occupied through a strong tenant retention program. In many cases, this is dependent upon the property’s ability to be in the best condition affordable. Through experience we have found that communication and cooperation between landlord and tenant also play major roles in retention. At the commencement of our management contract, Columbia Commercial Properties will introduce ourselves to all of the tenants. We will address problems/concerns before they become an issue and create a mutually satisfying Landlord/Tenant relationship. The tenants will feel that they are an asset to the property and will have a full understanding of your policies. The tenants will know there is a management company available and easily accessible to them.
The goal of our operating plan will be to maintain and enhance the appearance and performance of your investment. We realize, from management of other properties, that the landlord’s maintenance obligation varies depending upon the responsibilities set forth in each tenant’s lease. The frequency of actual inspections of the property can make a substantial difference to the property’s long term value. Assets under the management of Columbia Commercial Properties, LLC, receive weekly visits by our property managers to conduct routine inspections and to monitor the operations of the property. Property supervision of periodic contractors, such as the landscaper and HVAC services, includes monitoring both their performance and the amount of time it takes to complete their task correctly and efficiently. This supervision cannot be left solely to the contractor and is provided within our fee. Working with the owner, the manager designs a program of preventative and remedial maintenance consistent with the property’s annual and long range budgets. To implement the program, the manager:
On all maintenance work of significant dollar amounts, Columbia Commercial Properties will get multiple bids, review the contracts with you, check the work, and promptly make changes where necessary.
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