MANAGEMENT OVERVIEW - COMMERCIAL
· Transfer all required utilities and contracts and
assess unexpired warranties.
· Assess all fire and safety issues; ensure that all
equipment is approved to code. Create emergency procedures,
directions, and check lists, eg: evacuation plans.
· Offer to the Owner the ability to benefit from the
discounted insurance premium rates as provided under Aim Real
Estate Corporation’s corporate blanket policy.
· Collect all rents by the first of each month, pursue
arrears vigorously, and where deemed necessary, utilize all
options available for collecting arrears before initiating legal
· Ensure that the building HVAC system, generators, elevators,
pool, landscaping, snow removal, etc., are maintained to comply
with all safety and legal requirements to minimize liability.
· Arrange technical instruction for specific employees
to ensure proper operation and maintenance of property’s equipment
(ie: boilers, generators, pool and sauna, fitness facilities)
together with set up of proper preventative maintenance programs.
· Review all major expenditures and make recommendations
for alternative solutions to the Owner for approval along with
three price quotations.
· Ensure that on-site checks are made during and after
any major expenditures prior to payment being issued.
· Assess and re-negotiate where necessary all contracts
covering such services as janitorial, security, waste removal,
landscaping, snow removal, elevator and mechanical system maintenance.
· Maintain payroll records, prepare reports and returns
required by law, together with remittance to proper authorities
of all required deductions.
· Review parking rental arrangements ie: parking lot
grids, user allocations, and set up tracking system. Ensure
no vehicles are abandoned or look to be abandoned.
· Visit the site a minimum of once per week or more often
· Audit Property Taxes through a contract with a local
tax audit company.
· Establish two (2) separate trust accounts for each
specific property, one general account and one security deposit
account. All funds collected are kept in an interest bearing
account. Excess funds are monitored on a monthly basis to ensure
a high rate of return or paid directly to the Owner, as per
Aim Real Estate Corporation
· Scrutinize, code, and match invoices with purchase
orders, and approve and submit to accounting for timely payment.
· Create tenant rent roll and security deposit summary
liability report which is updated every two weeks.
· Track cash flows and bank balances daily.
· Prepare and submit narrative report monthly with detailed
financial statements which analyze budget deviations and report
all changes. Statements to be forwarded to Owner on or before
the 20th of each month following. (Sample accounting package