Asset Management
Correia Commercial offers full-service property management to industrial, office, retail, multi-family, and special purpose properties. We establish a personalized management plan for each property focused on maximizing value by controlling expenses, generating income, and executing capital projects in a timely manner. Unlike a national chain property management company, Correia Commercial has the local knowledge, the institutional procedures and the "boutique feel" that let owners know that their property is being given individual attention. Correia Commercial's local knowledge of the Tampa Bay leasing market has been invaluable to owners attempting to maximize the returns on their assets. Management, leasing and financial reporting for property owners is Correia Commercial's Property Management focus.
Our Property Management Services Include:
- Monthly financial reporting
- Monthly payment of Operating Expenses and Debt Service
- Annual Budget projections
- Marketing, Leasing,and Advertising
- Collections and Evictions
- Lease Renewals
- Regular Property Inspections, Evaluations, and Supervision
- Supervision of all on-site Employees and Contractors
- Tenant Improvements and Construction
- Outstanding tenant and vendor relationships
- 24/7 Emergency Response
Management Transition - Change is good…and easy!
We offer a hassle-free, all inclusive property "set up" which is achieved by Correia Commercial in a systematic start-to-finish process. We have the ability to take over any property on a moment’s notice, while paying particular attention to every last detail.
5 Step Takeover Process
- Account Set Up (bookkeeping, bank account, rent roll)
- Tenant Notification (welcome letters, personal follow-up, emergency contact forms)
- Vendor Notification (transfer letters, authorization forms, billing corrections)
- Utilities
- Maintenance Contracts
- Service Providers (Landscapers, Janitorial)
- Property Inspection (grounds, roof, interior)
- Lease/Contract Review (abstracting, file creation, status)
Bookkeeping and Collection Services
We utilize Yardi Property Management software, an advanced accounting program to record transactions and produce accurate real time reports and financial statements. The timely collection of rent and other income is a top priority for any investment property. Therefore, successful collections require working closely with our tenants to review the rental payment process. When dealing with less punctual tenants, we employ an aggressive collection system, combining constant personal reminders with strict enforcement of late charges and “3-Day Notice” delivery when necessary.
Property Administration
Maintaining an up to date filing system, conducting annual reviews, and utilizing “diplomatic” enforcement of the provisions of each lease agreement are necessary for the operation of any rental income property. Aside from the diligent pursuit of the financial obligations of a lease, the successful landlord/tenant relationship relies heavily on a clear understanding of all the terms and conditions contained in the lease. Examples of the processes necessary for the efficient administration of lease files are as follows:
- Lease review, abstracting, and auditing
- Lease accounting
- CAM estimating and reconciliation
- Rent Escalation recording, Option monitoring
- Repair/Maintenance requirements
- Database integrity
Tenant Relations
Property management is much more than bookkeeping and maintenance. Today it requires the ability to plan and implement effective tenant retention strategies. A focused effort to be responsive and fair is essential. We serve the client and the tenant by maintaining positive relationships through frequent correspondence and timely inspections of the property. Becoming a familiar face is imperative to our success and that of our clients.
Asset Management