Property Management
Property Management begins with the development of a long-range strategic plan to position and manage the asset and carefully balance the owner’s goals, the physical and financial status of the facility and the realities of the marketplace. Property Management then develops a comprehensive business plan / budget which is used to direct and control the income and expenditure goals of the property and achieve goals of the strategic plan. A full-service team of professionals in property management, marketing, development, engineering, financial analysis, valuation, market analysis, and accounting support property management in the management and operation of the property.
Property management provides timely, detailed perspectives on operational and strategic aspects of the properties. These include monthly reports of operating performance and periodic insights on valuation, market conditions, competition, maintenance activity, tenant and leasing activity, occupancy and an annual re-evaluation of the strategic plan.
Services
Properties are operated on a full time basis on a consistently applied approach across our management portfolio in accordance with standards and goals established with the ownership. The following items represent typical services which Sealy provides to property under its management.
- Lease Administration
- Billing & Rent Collection
- Property and Venture Accounting
- Coordination with Marketing & Leasing
- Personnel and Staffing
- Construction Management
- Property Inspection
- Repair and Maintenance
- Strategic Planning and Budgeting
- Vendor Bidding and Contracting
Reporting
Management Reporting
Sealy’s monthly management report provides narrative and statistical information regarding the operation and activities of each reporting period. In addition, Sealy maintains rolling documented variance reports on financial activity and documentation of past due collection actions.
Financial Reporting
Sealy’s financial reports are produced in summary and detail formats to suit the needs of the reviewer. Sealy has developed strict accounting and reporting controls that provides a consistent, accurate and detailed record of property performance and results.
Property Rent Roll
Sealy’s property rent roll is much more than a list of tenant leases. The rent roll provides additional information such as project occupancy & vacancy, scheduled rent increases, comparison of current rates with market rates, renewal options, tenant’s percentage of the project and critical lease terms.
Tenant Receivables and Collections
Sealy’s accounts receivable operations and individual property managers monitor tenant receivables on a weekly basis to ensure prompt action is taken on all delinquent accounts. Our collection policy follows a rigid guideline of personal contact, past due notices and demand letters. All actions are documented by management and maintained in Sealy’s collection system.
Leasing Activity and Rollover Reporting
Sealy monitors leases well in advance of actual expiration. To minimize vacancy and increase tenant retention, lease renewal and the leasing of vacant space follow a specifically designed marketing plan for each property and are closely monitored by the property managers.
Client Defined Reports
Sealy provides financial and property management reports to meet any client’s specific needs. These reports can be provided upon special request or along with the regular periodic project reporting.