Services -- What We Do -|
What We Do For Our Clients -
Portfolio Realty Management, Inc. provides high-quality property management services to owners of industrial,
office and retail properties. We manage single-tenant and multi-tenant properties, single-story and high-rise properties. We manage first class buildings to buildings serving the most basic of business needs. We do all of this in a manner that maximizes our client's return and minimizes their concern. We ask our clients to keep their eye on the forest while we mind their trees.
How We Define High Quality Service and How You Can Obtain It -
We accomplish our goal of providing high quality service by treating each property management assignment as if it were our own property and our only property. We quickly get to know your property, your tenants, your leases, your vendors, your advisors and you. We work with each to smooth operations so as to maximize the long-term revenue generation of your property. We accomplish this by assigning a property management team -- property supervisor, back-up supervisor, and property accountant -- to your property. Each team is advised by our founder and President, John D. Love, CPM (see About Us).
You obtain our services by contracting with us on a month-to-month basis. If our services are not satisfactory to you, you may terminate our agreement at any time with a month's notice. That said, please note that our clients have been with us for many years if not decades. Every one of our clients has agreed to act as a reference; you may contact as many as you wish.
Why Our Service Must Be Full Service -
When we manage property we do so completely and thoroughly. This means we -
Administer all the leases.
Collect all the rents.
Hire all the vendors.
Oversee all the maintenance and improvements made.
Approve invoices as appropriate and pay all the vendors.
Account for every penny using a detailed chart of accounts.
Make monthly distributions to our clients.
Provide every client with a detailed narrative and accounting of our activities in a report that is second to none,
delivered promptly to the client every month.
Forecast future financial activity through budgeting and our unique 120-Day Rolling
Forecast of cash flow.
Completing all of these essential tasks is the only way we can fully understand the circumstances in which your property operates. It is the only way we can assume responsibility for the complete picture. This responsibility leads to working successfully for you, our clients.
We treat all clients the same -- large property or small, complex property or straightforward one. By providing the same full, top quality service to every one of our clients we can be the most efficient. High efficiency means that we do not have to charge a lot to provide the service and results you need and deserve.
Our Asset Management Services -
Included with our property management services are selected asset management services for property financing, property acquistions and property dispositions. At no additional charge, we offer management of these vital functions along with suggestions on who to hire to complete the chosen tasks and our candid evaluation of the parties and the advice they are providing you -- our client. We have discovered we are the most effective in providing asset management services to clients who have been with us for at least one year. Please inquire if you feel that a property financing, a property acquisition or a property sale are possibly appropriate for you.
We provide important asset management roles for our clients by helping our clients hire and manage these essential services -
New tenant leasing.
Brokerage sales or investments.
Property tax appeals.
We help to manage these vital roles on an optional, but no-additional-charge basis.
What We Do Not Do and Why -
We only manage commercial real estate. That is all we do. We do nothing else -- no new tenant leasing, no brokerage sales or investments, no insurance agency, no maintenance division. We simply manage property well for our clients.
Why just commercial property management? Our business is complex, if one wishes to do it well. We do it well. By focusing just on commercial real estate management, we have established a high level of practice within our firm that directly translates to performance that benefits our clients. This is one reason our clients appreciate our work.
What Optional Services Are Offered -
We provide no optional property management services. Every client gets our full-service approach and attention. However, most clients find it best to additionally retain us for renewal tenant leasing (see Leasing). We price our renewal tenant leasing well below the market rate, so most clients take advantage of this service. Of course, we also offer specialized consulting where needed.
How We Determine How Much to Charge -
Managing your property takes time. At the proposal stage we estimate how much time it will take by reviewing the physical real estate, reviewing the leases, and interviewing with you. We apply that time against our estimate of your monthly revenue collections to determine a percentage fee. Our experience tells us that this fee will range from 1% to 5% of collections and that it is impossible to give you a better estimate without going through all of our research steps.
We strive to hold down that percentage fee as much as possible. One way we do so is to charge separately for major project supervision, for many properties need little or no such service. We have learned that a downward sliding scale of 10%-5%-2% applied to the cost of the project adequately compensates us for our time.
How You Determine We Are Worth Way More Than We Charge -
As a client, you will see the results of your property improve, literally paying for our services. We encourage you to ask our existing clients for their observations, examine our services, ask for a management proposal and then compare our proposal against your current approach.