Northern Michigan Property Management Services
Three West, LLC has a team of professionals dedicated to managing real estate for owners to maximize their financial return.
The diversity of our management experience includes a wide spectrum of experience from neighborhood retail centers, apartment communities, office buildings and industrial properties. We provide the property management services of overseeing leasing, purchasing, collections, negotiating for contract services and supplies, overseeing maintenance and repairs, supervising the activity at the premises and accounting to the owner on the highest professional level.
All service contracts will be reviewed to ascertain appropriate cost vs. benefits. The insurance coverage will be analyzed from the standpoint of the owner to insure adequate protection is provided for property damage, liability, excess liability, rents and flood insurance.
As a management team that understands the importance of keeping existing tenants we will meet with all of the existing tenants to ascertain their level of satisfaction with the leased premises. We will analyze the property from the standpoint of a tenant to make certain that we know all of the benefits and advantages for tenants deciding to call your property home for their business. We want to know if they plan to continue renting from us, if they wish to expand, if they are thinking about down sizing and can we extend the current lease.
Three West provides monthly property reports that provide the owner with the information needed to have an excellent grasp on the status of the investment. We provide financial reports in a printed, legacy, excel or cvs format. The reports may be prepared on a cash or accrual basis. We offer 15 different financial reports to include, for owners of multiple properties, consolidated balance sheet, general ledger, income statements. We can offer 9 different rental reports, 8 different transaction reports, lease expiration reports and work order reports.
The property management software that we use allows owners access to view the current status of the investment. Tenants are able to view their account ledger, and place maintenance request on line. We also have the capability to receive rental payments online.
Summary Of Services In A Management Agreement
Receive all fees and generate a delinquency list. Institute collections, i.e. telephone calls, letters, payment plans. Additionally, we will detail such activity and make recommendations regarding legal action if required.
Pay from Corporation's bank account all accounts payable after verifying the correctness of the invoice and satisfaction of the product or service.
Receive all maintenance calls and schedule all appropriate maintenance repairs. Additionally, write specifications, solicit bids and supervise completion and correctness of larger routine maintenance activities i.e. lawn maintenance, snow plowing, maintenance, special projects such as exterior painting, roof replacement and landscaping.
Provide monthly financial reports that are concise, readable and understandable. They include monthly income/expense statements, budget variance report, check register, delinquency list, and accounts payable. A written narrative may also be prepared for any suggestions or recommendations relative to expenses or to explain budget variances, short and long range planning ideas or a general discussion regarding the status of the property.
Provide data to Corporation's accountant for year end tax preparation. The completeness of our record keeping and reporting system will minimize the time and cost required to complete the necessary year end reporting.
Provide supervision of all maintenance contractors on the property. Our frequent site visits at random times and time management techniques provides for increased and more efficient productivity.
Provide our consultation and advice on all subjects relative to the maintenance, operation, and financial integrity of Corporation.