Property Management
Our scope of management services includes the
following:
Monthly Invoicing
All tenants will be
invoiced prior to the first of each month. Invoices include not only monthly
rents, but late fees, miscellaneous charges and any other overdue
amounts.
Collection Of Rents and Deposit Of
Receipts
Monthly rents, late fees, miscellaneous charges and all
overdue amounts will be collected monthly and deposited
promptly.
Administration Of Late Fees
Late fees will
be applied to all applicable accounts not only for the purposes of additional
revenue, but more importantly as a deterrent to late payments and an incentive
for timely payment.
Payment Of Expenses
All
applicable expenses (e.g. utilities, maintenance, etc.) will be paid on a timely
basis in accordance with a regular payment
schedule.
Budgeting
Equity Commercial can assist in
the development, maintenance and tracking of annual budgets to ensure
consistency and accountability for both revenue and expenses. Proposed budgets
include an analysis of repair and maintenance needs, operating expenses, and any
capital improvements anticipated for that period and will assist the ownership
in maintaining a long-range capital replacement reserve
schedule.
Account Maintenance
Our management services
include establishment, maintenance and monthly reconciliation of all operating
and trust accounts.
Site Inspections
Our proximity to
the subject properties will enable us to make regular site inspections and
maintain a presence without occupying revenue-generating space. On-site hours
can be arranged based on space availability and need.
Oversight
Of Repairs & Maintenance
When appropriate, repair and
maintenance items will be observed and quantified by qualified Equity Commercial
personnel prior to contracting for services. Further, repair and maintenance
items will be inspected after completion and prior to payment for services when
appropriate.
Oversight Of Renovation As A Result Of
Turnover
A qualified Equity Commercial representative will
administer and oversee standard suite renovation (e.g. floor coverings, paint,
ceiling tiles, light diffusers, etc.) to ensure timeliness and quality of
workmanship.
Field Tenant Concerns
One of the most
important services we can provide our clients is insulation from the day-to-day
headaches of commercial property ownership. To this end, Equity Commercial will
field all tenant concerns and address them on an as-needed basis. This means
personally inspecting or reviewing the alleged concern and addressing it in a
manner consistent not only with tenant retention, but also cost efficiency and
asset preservation.
Administration Of Unlawful Detainer
Actions
As needed, Equity Commercial will serve Three Day or other
appropriate notices, will provide owner's counsel with all required
documentation (e.g. leases, notices, account balances, tenant background
information, etc.) and, in the unlikely event of eviction proceedings will
assist counsel as needed.
Preparation And Distribution Of Monthly
Financial Statements
Equity Commercial will provide all partners
(and/or other parties as directed (e.g. accountants)) with monthly copies of all
applicable financial statements including:
-Cash Flow Statement
-Operating
Statement
-Summary Property Statement
-Business Analysis Report
-Trial
Balance
-General Ledger
-Rent Roll
-Samples of all reports are
available upon request.
Remit Owner Disbursements
As
directed, Equity Commercial will make regular and timely distributions to all
partners and/or shareholders.
Lease
Extensions/Renewals
Our extensive experience in Ventura County
commercial real estate brokerage makes us better qualified than other firms in
our ability to ensure that lease renewals are completed promptly and at the
highest attainable market rates while balancing the need to maximize revenue
against the need for tenant retention. See enclosed Fee Schedule for applicable
rates.
Capital Expenditures
Equity Commercial will
assist owners in planning, budgeting, establishing reserves and overseeing the
implementation of capital expenditure items such as regular parking lot sealing
and striping, roof replacement, HVAC replacement, common area renovation,
etc.
Tenant Improvement Oversight
To ensure
cost-efficiency, timeliness and quality workmanship, Equity Commercial can
provide tenant improvement and construction oversight services. See enclosed Fee
Schedule for applicable rates.
Our key property management and brokerage
(leasing) personnel have years of experience working together as a team to
ensure that management activities are completed with an eye toward marketing;
and, leasing activities are completed with an understanding of the needs of
management and ownership.
