Capital Asset Management handles all aspects of property management on behalf of our clients. Some of our services include managing tenants, collecting rents, contracting vendors, paying expenses, overseeing improvements, and appealing property taxes. You only have to go to one place for all of your property needs.
As property managers, we strive to develop strong, mutually beneficial relationships with our clients built on trust and communication. Within the first few months of managing the property, we will present a detailed budget for the property with income and expense projections. The budget is the centerpiece of our work, outlining all contracted and expected expenses over the coming year as well as anticipated income that we will collect. We analyze expenses to make sure they are in line with industry standards and evaluate vendors for their quality of work. Accurate budgets give our clients meaningful information on revenues, services and the bottom line.
However, budgets are not the end of the story. We also provide monthly variance reports that explain how the property is tracking to the budget and, if there is a variance, why it occurred. Expenses significantly outside of the budget must be approved by our Clients first and we use sophisticated systems to track and approve expenses through well-defined workflows. It is your property and you control where the money goes. Monthly reports will keep you abreast of all financial activity. Narrative reporting is also provided on a monthly basis to supplement and add context to financial information. We believe that regular communication with our Clients and an experienced team of professionals are the keys to successful property management.
Our first priority is to inspect the property and meet the tenants. The most challenging and often rewarding part of our property management service is managing tenant relationships. Tenant retention programs offer a greater opportunity to financially stabilize each property, making it more desirable for a refinance or for a sale. To understand and retain tenants Capital Asset Management relies on consistent and constant communication through monthly statements, letters, “checking in” while at the property and face to face meetings. Our communication efforts help us to identify problems such as improvement delays, needed repairs, security matters, and tenant financial issues. Our goal is same or next day problem resolution.
Tenant communication can also provide opportunity. Some tenants need more space or will let us know of someone else who is interested in leasing. At its core, tenant relationship management is about retaining quality tenants you already have and creating a positive environment that attracts new ones. he
Our team at Capital Asset Management produces accurate and timely operating budgets and financial reports in formats tailored to specific client requirements. Our accounting department consists of skilled professionals and your financials will be reviewed by a CPA every month.
We provide a full range of services including but not limited to:
Financial data can often require further explanation and not all activities are part of the financial record. Capital Asset Management provides monthly written reports that add greater context to the financial reports.
We save our clients significant legal charges by offering the following optional services:
Need to refinance or get the first loan on a property your buying? We can help. We have over 25 years of experience in lending and relationships with banks and private lenders throughout the country. We work with the lender to provide the documentatation and analytics they need to get you approved and expedite funding.