The following services are provided under the daily operations of a property. Each property is different, and the services will be set up according to the needs of that property.
- Scheduled Maintenance Programs
- Property Inspections
- Fulfillment of Tenant Maintenance Requests
- Preventative Maintenance Programs
- Vendor Contract Procurement and Administration
- Risk Management
- Security Analysis
- Capital Improvement Planning
- Due Diligence
Investors Properties of Colorado uses the Yardi Property Management software for its property accounting. This program is used worldwide due to its expertise in property financial management. A monthly financial package will be prepared each month to include all financial information. This information will include rent roll, budget comparison income/cash flow statement, income statement variance report, balance sheet, accounts receivable aging report, check register, bank statement & reconciliation, mortgage statement, general ledger (current month cash) journal entry register, and cash to owner calculation. In addition, the following duties will be performed.
- Budget/Business Plan Development
- Monitor Budget Variances
- Maintain Cash Accounts in Accordance With Applicable Laws
- Maintain Up-To-Date Record of All Cash Accounts
- Prepare Monthly Tenant Statements
- Process All Tenant Receipts
- Approve & Process all Vendor Payments
- Prepare Timely Mortgage and Insurance Payments
- Negotiate and Review Insurance Coverage
- Pay Annual Real Estate Taxes When Due
- Coordinate Real Estate Tax Appeals through a Third Party
- Prepare Pro-forma Cash Flow Analysis
- Prepare Lease Proposal Analysis
It is our duty to assure that all accounts are accurate and up to date, at all times. All receivables and payables are entered on a daily basis. At any given time, our clients can ask about the financial status of their property and receive an accurate report. Each property has its own bank account and no funds are comingled, in accordance with the guidelines of the Colorado Real Estate Commission
All tenants receive their own lease file, which is set up in a manner to maintain the lease documents, lease abstract, tenant information, correspondence, leasing and tenant finish costs, and all other documentation that pertains to the lease. All issues that pertain to each tenant will be administered in accordance with terms of the lease document. This will include rent and subsequent adjustments, additional rent payments (CAM), and maintenance responsibilities.
Tenant relations are an integral part of maintaining a property. Since rent is derived from the tenant, it is important to recognize the tenants by acknowledging all of their requests. Based upon the terms of the lease, not all requests can be granted, but all explanations will be given in a professional and business-like manner. Those requests that are warranted will be administered in an efficient manner.
Investors Properties of Colorado can oversee the start to finish of tenant and capital improvement projects. We will work with your architect to bring his/her design to reality. After the drawings are completed, qualified contractors will be invited to bid a fair price, with quality workmanship, to deliver the best value. In addition to obtaining bids, we will also monitor the permit process, strive to keep the project on schedule, validate change orders and finally, reconcile all invoices. Having the right people to complete a project on time and within the budget, takes a good deal of coordination and preparation. We will take the time to get the project completed to your satisfaction.
If you own real estate that houses your company, you want to concentrate on running your business, not your real estate. Also, you may own several “triple net” properties that need a watchful eye. That is where Investors Properties of Colorado can assist. A program can be set up to accommodate your needs. It may involve the daily operations and maintenance, or a weekly or monthly inspection to just make certain that the property is being maintained. It is our goal to maximize the value and performance of each property. Our facility management program allows the property owner to focus on other investment opportunities and endeavors. We understand the big picture and can manage the details.