Property & Asset Management
A good property management company can mean the difference between a performing asset, and a vacant asset. Property management to us means “keeping our tenants happy, and our buildings proud.” We strive for friendly relationships with our tenants that extends respect past our lease forms. We do Property Condition Assessments on all of our properties by third party firms to tell us how to best prepare for the inevitable boiler that might go down or roof that fails. We do quarterly maintenance on our roofs and mechanical systems as well as yearly maintenance of all of our buildings life safety systems. And we of course can taylor an arrangement to take on as much or as little as you need us to.
Our fees for property management are within market, usually between 5 and 8% of gross rents.
PA+A can also help with managing just an asset. This involves helping with your monthly and annual proforma and cash flow analysis, and best practices for reducing your tax exposure. Fees for this service are between 1% and 2% of the annual income.