Commercial Property Management

Commercial Property Management Experience You Can Count On

CPM Property Management works primarily with small and medium-sized investors. We have succeeded in improving asset value, increasing cash flow, and improving the property to meet the future needs of our property owners.

Managing the Property For You

First, we inspect the property and meet your tenants. As your manager we want to develop a strong relationship with your tenants. By getting to know the tenants, we are able to determine what their needs are, whether they need more space, or maybe they are having problems and need to sublease. Our constant communication with your tenants helps us identify problems such as roof leaks, plumbing problems, security issues and other concerns, which are not always identified by visual inspections. We then follow up with solutions that meet your needs as well as the tenants' needs.

• Annual weatherization checks and seasonal preparation
• Annual building inspections with pictures and analysis of what improvements can be done
• Establishment of specifications for contract services such as landscaping, heating and cooling, lighting, parking lots, fire suppressions and monitoring systems and other items that require regular inspection, testing and care.
• Coordinating annual elevator inspections and establishing ongoing maintenance programs.
• Coordination and supervision of janitorial services.
• Coordination of all services such as trash removal, alarm monitoring and security.
• We also provide a full array of other services for your property, which will better help you make decisions. Below are some of the items we will perform:
• Full bookkeeping of receipts and disbursements with back up documentation
• Monthly rent and CAM statements to tenants
• Annual CAM reconciliations
• Handling of leasing inquires regarding the property
• Maintenance monitoring and review looking for repeat patterns and variations in costs to be corrected
• Regular inspections of the building
• Annual budgets with monthly and year to date actual income/expense comparison
• Annual reviews of third party services contracts such as rubbish, security, etc.

Understanding the Financial Performance

CPM Property Management provides a full accounting service for your property with experienced staff that correctly accounts for all funds and maintains complete and accurate records. All funds are deposited into a federally insured financial institution trust account.

Reports You Will Receive
We will send you a monthly detailed report mailed on the tenth of the month. This report will show you rents received and expenses paid for the previous month. With it you will receive a transaction register, so you will be able to further track income and expenses as well as a rent roll and a summary of delinquencies at the end of the month.

Collection of Rents
CPM Property Management collects all the rents from your tenants. On the tenth of the month, we review the payment status of all tenants, and send a letter to any tenants that are delinquent. On the 20th of the month, a second letter is sent giving the tenant a deadline to pay. By the end of the month, we will discuss options with you on whether we should use legal means to obtain restitution of the premises, or to encourage payment.

Maintaining your Property

Your property manager will supervise the completion of all maintenance using qualified maintenance staff or vendors that are part of a select list that CPM Property Management has developed. That list is of vendors and contractors who are licensed and insured to provide service you will need. Maintenance requests are generated through inspections, telephone requests, additional work as a result of previous or current jobs, or a preventive maintenance plan. Maintenance work is reviewed and authorized by the property manager, and assigned to the appropriate vendor. The manager then monitors the invoices for completion, quality, and costs. We will establish a spending limit, and any non-emergency work costing more than that limit will be reviewed with you before any work is started.

CPM Property Management has a 24-hour emergency maintenance system. A senior property manager, and a maintenance person are on call to take care of emergencies. If a potential property damaging, or life threatening emergency were to occur such as: water pipe break, fire, heating failure, roof leak, flood or other disaster, Bluestone & CPM Property Management will assign a vendor or will respond within an hour to repair or secure the complex. We will review all incidents to determine whether an insurance claim is necessary. .

All maintenance work discussed below will either be handled on a bid basis or assigned as the need arises. You may choose to have your own contractor perform any of the work below. All maintenance work costing more than $5, 000.00 will require three bids, and will carry an additional 5% project coordination fee.

Heating and Cooling
CPM Property Management will develop a plan to manage the heating and cooling needs of your property. We will hire and supervise a qualified heating and cooling contractor to perform all maintenance and service. We will establish specifications in which the heating and cooling system will be maintained, and have the plan bid accordingly. All service calls are reviewed by the property manager and referred to vendor to resolve. All HVAC invoices are then billed to the tenants in accordance of their leases.

Electrical
CPM Property Management will supervise all electrical work necessary. All maintenance requests will be reviewed by the property manager and assigned to the appropriate qualified vendor.

Elevators
CPM Property Management will coordinate annual elevator inspections. Our property manager will review the report and determine a course of action to repair any potential problems. Any reports or problems will be reviewed and assigned by the property managers. Any failures or emergencies will be resolved immediately by the assigned contractor.

Janitorial
Our property manager will coordinate the janitorial work at your building. We will inspect hallways, elevators, restrooms, and entryway to ensure that the utmost cleaning and sanitation standards have been met. We will also inspect tenant spaces to make sure their needs are being met. CPM Property Management will meet with the janitor regularly for a complete inspection, and review of services combined.

Plumbing and Fixtures
All appropriate plumbing and fixture work is done as requested. CPM Property Management has a list of qualified vendors who can respond to plumbing problems immediately. Our manager will review the leases, to identify tenants who will be responsible for plumbing repairs. If the tenant is responsible for any work completed by the Landlord, the tenant will be billed and all appropriate action will be taken to collect any balance owing.

Minor Painting
Our property manager will review the paint condition and inform you on steps that need to be taken. We will advise you if we think interior painting needs to be done in vacant spaces.

Roofing and Drains
CPM Property Management will inspect the roof once a year. If necessary a selected contractor will be asked to assist in the inspection. We will submit pictures for review by you. You, the property manager and roofer will determine what work should be done to any problems which, may arise out of an aging roof. CPM Property Management's maintenance department, or a selected contractor will clean the gutters and down spouts in October, December, and May. We will monitor for roof leaks, review incoming service calls and refer to appropriate vendor.

Weatherization and Seasonal Maintenance
Managers review the specific needs in regards to drainage, freezing, and wind. CPM Property Management implements a plan to weatherize all properties every November to include, but not limited to, closing outside vents, covering hose bibs, stocking snow removal and deicing supplies, and any other item determined by manager and ownership. We instruct tenants on what they should do if freezing weather occurs.

Grounds Maintenance
CPM Property Management will ensure that the property is swept and kept looking clean. We will engage a professional landscaping company to maintain landscaped areas.

Graffiti Removal
Removal and elimination of graffiti is a top priority within our company. Within 24 hours after a tag has been identified our maintenance department is making arrangements to clean up or touch up effected areas. Usually, graffiti clean up and cover up can be completed within a few days.

Parking Lots
CPM Property Management will hire a sweeper to sweep all driveway, and through ways on a twice a month basis. CPM Property Management will monitor the sweeping company to ensure that the lot is swept properly and debris is removed from the premises. We will arrange for wintertime snow plowing.

Maintenance Forms

Service calls are handled through the use of two forms that are used for maintenance control. The first is generated by our automated work order tracking system and is simply a work order. The work order is filled out and then reviewed and approved by the property manager. If the call is assigned to CPM Property Management maintenance department, the call is completed and sent to the accounting department, where the amount is invoiced and paid, with property manager approval, from the appropriate account. If the call is assigned to an outside vendor, the information is entered into the maintenance database.

Another form, which is used by our property managers, is our Commercial Building Inspection Sheet. This sheet helps guide our property manager to look at certain items that may cause problems. From the inspections the property manager develops a list of projects and work orders to be dealt with immediately or in the future through budgeting.

Keeping Your Tenants Happy

CPM Property Management believes in forging strong partnerships between building managers and tenants. These relationships enable us to know what is going on at a particular site. We regularly visit with tenants to see what we can do for them. We find these informal meetings frequently identify problems at a property. They enable the tenant to voice concerns about the structure, management, other tenants, or neighborhood problems which adversely effect the tenants business.

Immediately after we are retained, we will send out letters to tenants introducing ourselves. Our manager will then meet with the tenants so we can start developing our relationship as soon as possible. Our experience shows us, the more we know about your tenants and your tenants business, the better we can serve them.

CPM Property Management responds to any maintenance or service needs a tenant may have. Calls are routinely followed up within 24 hours, except in emergencies or during a system failure when immediate response is necessary. The Property Manager responds to any questions regarding leasing and rents. We send notices informing tenants of special maintenance projects such as building painting or cleaning, lot paving and major roofing jobs.

Finding the Most Qualified Tenant

Because CPM Property Management is active in the market, our leasing agents can review a project easily and develop a plan to find you the perfect tenant. Our agents regularly survey the market to determine whether your property is competitive. Once a week our leasing team meets to discuss their current projects. These meetings allow us to network within our company and identify buildings and tenants that will produce long-standing tenancies. We also network with other brokers who may have clients interested in your space.

As soon as we know a space will be available, we will begin the process of finding your new tenant. Immediately, we will place a sign on the premises, and then design a flier. Our leasing agents will meet with the property manager, and you, if desired, to discuss improvements, which might attract the right tenant. We will then follow up by advertising in newspapers attracting our target market. Our leasing agents will tour the property so they are all familiar with the premises.