Pounders & Associates provides a full complement of property management services for institutional owners and private investors, with services tailored to meet the unique needs of the owner and their commercial property.
We know that every real estate asset represents a significant investment that must be protected, so we consult with owners to gain an understanding of their objectives, in order that we can manage their property in an appropriate manner. We believe routine property inspections, face-to-face meetings with tenants, and attention to detail provide a foundation to preserve and enhance the value of an owner’s asset.
Property Management
Proper maintenance of a property is crucial to protecting the asset’s prolonged viability and value. Properly maintaining a property also has a profound effect on the owner’s ability to retain existing tenants, attract new tenants, and to satisfy lenders and other stakeholders.
We advise the owner on determining building and preventative maintenance needs, compiling a list of tasks and assigning a frequency of occurrence. This work, executed in accordance with the operating budget, includes repairs to the building, preventative maintenance, landscaping, janitorial, snow & ice removal, and parking lot sweeping.
Tenant service requests are handled in an effective manner, with repair responsibilities dictated by lease agreements. Most importantly, the landlord should never incur costs for work that is a tenant’s responsibility. When a service request is not the landlord’s responsibility, we will discuss the repair with the tenant and guide them to a satisfactory resolution.
Property management services include:
· Managing positive tenant relationships
· Managing the day-to-day operations and maintenance
· Coordinating preventative building maintenance
· Obtaining competitive bids and pricing for operations and maintenance needs such as electrical, HVAC, pressure washing, etc.
· Overseeing capital improvement and tenant improvement projects
· Maintaining life safety certifications
· Coordinating landscaping & parking lot contracts
· Maintaining vendor insurance certificates
Lease Administration
The objective of accurate lease administration is to ensure that, throughout the term of the lease, notification and option dates are met, rental increases are implemented, operating expense reconciliations are correct and timely, and that all date-sensitive information is handled in an appropriate manner.
We maintain accurate and organized records to ensure that lease compliance is being met. We take a serious approach to enforcing lease terms and, at the client’s direction, enforcement provisions contained in the lease or provided by law are imposed as needed.
Lease Administration services include:
· Serving as landlord/tenant liaison
· Maintaining critical dates
· Managing tenant receivables
· Reconciling annual operating expenses
· Maintaining tenant insurance certificates
· Ensuring tenant lease compliance
Financial Services
In order to become familiar with the owner’s financial expectations, we will conduct an initial budget review and suggest revisions as the management plan is implemented. We promptly deposit all property income and ensure that payables and distributions are processed in a timely manner.
Financial services include:
· Managing mortgage obligations
· Reviewing and promptly paying all property expenses and invoices
· Reconciling bank accounts
· Preparing basic financial reports
· Budgeting
