Commercial Management Services
The mission of the property manager is to create an environment in which businesses can thrive in order for the value of the owner's investment to be maximized.
Tenant Relations
One of the first duties of a manager is to get to know the tenants and understand the unique needs of each business. The property manager:
- Visits tenants frequently
- Responds to complaints and suggestions graciously and quickly
- Treats tenants and their employees professionally and courteously
- Lets business owners know that their tenancy is appreciated
- Communicates key terms clearly at lease inception
- Describes annual expense summaries clearly and accurately
- Secures performance of all lease provisions including timely payment of rent and other charges; acceptable care of the premises; obeying parking and other rules; honoring exclusives granted to other retail tenants.
Maintenance & Repair
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:
- Evaluates the duties and responsibilities of current employees and service providers and recommends alternatives if appropriate
- Visits the property frequently inspecting all common areas including parking areas, landscaping, interior lobby and hallways and restrooms for cleanliness and proper maintenance
- Arranges for periodic inspection and maintenance of fire and safety systems, HVAC units, elevators, and the roof
- Obtains competitive bids for large projects and supervises them to completion
- Responds to emergency calls after hours if necessary
Administration and Accounting
Depending upon the owner’s requirements, the manager:
- Prepares the annual operating budget; provides interim updates of cash flow; reconciles tenant expense accounts if applicable
- Communicates frequently with the owner regarding actual financial performance compared to the budget and overall property condition
- Obtains competitive bids for insurance coverage
- Maintains a schedule and provides timely notice to tenants of rent increases
- Is informed about market rents
- Begins a lease renewal discussions early with owner and tenant
- Begins an eviction process if necessary to minimize rent loss
Apartment Leasing
To find great residents, the property manager:
- Stays informed about market rents through periodic neighborhood property surveys and participation in the Dupre & Scott report
- Advertises in the most appropriate print medium—local newspapers, the Seattle Times/PI, For Rent magazine, etc.
- Maintains appropriate signage which may be large banners for new buildings in the pre-leasing stage, sandwich boards for in-city properties and eye-catching permanent signs.
- Develops a flyer for prospective residents
- Screens applications thoroughly by obtaining a credit report, calling previously landlords and verifying employment information.
Apartment Management
The mission of the property manager is to create an environment in which individuals enjoy the comfort and security of their homes and in which the value of the owner's investment can be maximized. The residents of an apartment building are its most important asset. The manager’s job is to find and retain great tenants.
Leasing
To find great residents, the property manager:
- Stays informed about market rents through periodic neighborhood property surveys and participation in the Dupre & Scott report
- Advertises in the most appropriate print medium—local newspapers, the Seattle Times/PI, For Rent magazine, etc.
- Maintains appropriate signage which may be large banners for new buildings in the pre-leasing stage, sandwich boards for in-city properties and eye-catching permanent signs.
- Develops a flyer for prospective residents
- Screens applications thoroughly by obtaining a credit report, calling previously landlords and verifying employment information.
Maintenance and Repair
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:
- Evaluates the duties and responsibilities of current employees including the resident manager and service providers and recommends alternatives if appropriate.
- Visits the property frequently inspecting all common areas including parking areas, landscaping and interior lobby and hallways for cleanliness and proper maintenance
- Arranges for periodic inspection and maintenance of fire and safety systems, HVAC units, elevators, and the roof
- Obtains competitive bids for large projects and supervises them to completion
- Responds to emergency calls after hours if necessary
Administration and Accounting
As needed by the owner, the manager:
- Prepares the annual operating budget; and provides interim cash flow updates
- Communicates frequently with the owner regarding actual financial performance compared to the budget and overall property condition
- Obtains competitive bids for insurance coverage
- Begins an eviction process if necessary as soon as possible to minimize the loss of rent and unit down time
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