In concert with the property owner’s guidelines, provide results-oriented, professional real estate management services designed to enhance the value of the owner’s investment.
Our Management Objective
Properties are managed for individual investors, joint ventures, partnerships, financial institutions, and other investment entities.
Our Approach to Property Management
The Property Manager serves as the coordinator between the ownership, tenants, contractors, and Taylor Building Investors staff. The property manager directs the day-to-day management of the asset and is responsible for anticipating and responding to the needs of the property and its tenants.
On any given project, the property manager is a visible representative of the ownership to the tenants and to the public. The property manager communicates regularly with the owner’s representative regarding property operations. They are also in charge of regularly reviewing the financial reporting information for the property.
In short, the property manager takes full responsibility for the operation and condition of the property. They have the added benefit of experience with and knowledge of the Taylor Building Investors management team and support staff to aid the execution of his duties. The activities of the property managers are reviewed on a regular basis by the Partner-in-Charge. In addition, the property operations will be audited on a regular basis, including regular inspection visits by the Partner-in-Charge, Timothy Taylor.
This directed team approach supports the assigned property manager in providing professional services to you, your tenants, and your investment.
Our Management Services
The following is a summary of the typical services provided by Taylor Building Investors as part of the comprehensive management services provided to its clients. These duties are inclusive of our normal services and can be augmented at the client’s request in order to meet the needs of the client and the property.
- Review and evaluate all existing property operating procedures.
- Establish operating policies/handbooks, as needed.
- Review all existing leases for complete knowledge of current rents, rental increases, special lease clauses, billing information, insurance requirements, options, and other pertinent information. Input this information into an in-house property management computer system.
- Coordinate new tenant move-in schedules to minimize the effect on property operations and existing tenants while providing all necessary assistance to the new tenant.
- Collect all rents and other monies due from tenants on a monthly basis.
- Initiate legal action on owners’ behalf, as needed, with approved legal counsel to enforce leases and ensure collection of rents.
- Develop effective relationships with all project tenants. Provide prompt responses to tenant requests, equitable enforcement of lease provisions, consistent application of operating policies, and anticipation of and prompt resolution of any tenant problems.
- Negotiate renewals of leases with existing tenants. Monitor and implement all CPI adjustments, rental increases, expansions, and renewal options.
- Review project operational needs, negotiate service and supply contracts to ensure proper staffing, and avoid overcharges.
- Direct janitorial, mechanical, and general building maintenance services. Services are to be provided by contract or on-site personnel, as needed.
- Purchase needed equipment and supplies, passing along all discounts received to the property owners’ accounts.
- Develop a capital budget for the property. Review all major expenses with the owners’ representative.
- Review, suggest, and implement energy conservation measures.
- Monitor compliance with all governmental health and safety standards applicable to the property.
- Keep owners’ representatives informed of property operations on a regular basis. In an emergency or other special situations, contact the owners’ representatives as soon as possible.
- Maintain accurate administrative records for complete, timely, and accurate lease administration and financial reporting to owners.
- Pay all property expenses per established budget, on a timely basis.
- Review property tax assessments and insurance coverage, as needed, with recommendations to the property owner.
- Develop an annual operating budget, in order to monitor the property’s performance, in accordance with the property owner’s investment objectives.
Taylor Building Investors will be responsible for the property management of each of the properties. In the case of properties that are not situated in Northern California or Phoenix Arizona, we will undertake the hiring of a local property manager or assigning a sub-agent of Taylor Building Investors .
Facility Management Services
In today’s current economic environment, several development companies have withdrawn from the market as developers and have started focusing on managing their existing portfolios. Due to the cost of maintaining offices in several cities where these projects are located, their firms are looking for local representatives, while a portion of the management duties is carried out from their home offices. This situation has held true for syndication companies and several investors with large portfolios.
For those owners that desire to collect their own rents, or perform other limited management activities, Taylor Building Investors can provide facility management services tailored to their own specific needs.
Taylor Building Investors possesses the knowledge and experience to handle construction administration of a small tenant build-out to the construction or remodel or new construction of a medium-sized community shopping center. Over the years, we have built and/or remodeled over 10 neighborhood/community shopping centers, some of them for our account, with the majority for our clients.
Zoning and land-use issues are not foreign to Taylor Building Investors. We have the ability to process any entitlement necessary for the operation and development of commercial properties ranging from a use permit for a drive-thru to zoning for a 300,000 square foot power center.
Our Relations with Suppliers, Contractors, & Vendors
Our long-term involvement with Sacramento-area property management has provided Taylor Building Investors with valuable experience and contacts with vendors—utilized to provide services for managed properties.
The need for particular vendor/supplier services is determined by the property operating plan and property budget. Competitive bids for services are obtained as appropriate. Each prospective vendor is reviewed for proper licensing, liability insurance, and Worker’s Compensation coverage. In order to control property expenses, a purchase/work order system is utilized by our staff.
Property expenses are incurred on behalf of the property and paid through the property trust account. All discounts for services are applied to the benefit of the property account.
Our Client Reporting System
To provide our clients with complete and accurate accounting of all property income and operating expenses, Taylor Building Investors has installed an in-house computerized real estate management accounting system. This system provides reliable information to you and to the property manager responsible for the management of your property.
Our monthly client reporting includes an operating statement summarizing all account transactions, including tenant collections, property expenses, insurance, and loan payments.
The responsibilities of day-to-day management on a contract basis require that the owner and the management firm understand their mutual obligations and expectations of services to be provided. Professional real estate management by Taylor Building Investors provides our clients with the knowledge that their goals and objectives are utilized to maximize the operation and long-term value of their real estate investment, in concert with sound management techniques.
A fee representing a percentage of monthly property income provides a service with both current and long-term benefits to the client. The management fee is determined based on the size of the property and the intensity of management required. The actual fee would be determined after further discussion regarding the property and its operations and prior to the signing of a management agreement for the property.
We propose that our services be contracted for a one (1) year minimum term. The agreement would be renewed on a revolving basis subsequent to the initial term, allowing for cancellation on thirty (30) days notice, after the initial term, or for cause, based on the terms of the Management Agreement.
The services of the assigned property manager, Taylor Building Investors support, accounting, and executive staff are included in our management fee. Routine accounting, mailing, and copying services incidental to the property are also included. Special projects will entail supplemental fees to be negotiated prior to the commencement of the project.