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Through a careful analysis of the owner’s objectives, we put together a comprehensive management plan. Our staff has the combined experience of more than 40 years in the field of Property Management. We are able to bring professional expertise to each building which allows us to devise and implement a plan to increase the long term value of every property.
Our services go far beyond collecting rents and making repairs. Cost effective successful management requires professional attention in three areas: Financial, Physical, and Administrative.
FINANCIAL
Annual Budgets: Peter M. Scotti & Associates will produce a line item budget of income and expenses sixty days prior to the beginning of each fiscal year. Budgeted items will be monitored monthly and variances reviewed with the owner.
Billing/Collections: All receivables are carefully monitored and delinquencies are attended to promptly in a manner approved by the owner.
Disbursements: Peter M. Scotti & Associates maintains a separate checking account for each property. Each expenditure is verified and documented prior to submission for payment. All management agreements specify the requirement of prior approval by the owner for any expenditure above a certain limit.
Purchasing: Our staff will work within the established budget to provide the items necessary for the efficient operation of the property (e.g. paper and cleaning products).
Reserves: Any reserve monies will be monitored and held in a separate interest bearing account.
Income & Expense Statements: Owners will be sent computer generated monthly statements by the 15th of the following month. Statements will compare current month with year-to-date and budget figures.
Tax Consideration: Peter M. Scotti & Associates will work with the owner’s accountant to provide all the necessary information for the Annual Tax Returns.
PHYSICAL
Maintenance/Repairs: Peter M. Scotti & Associates will provide full or part time, on-site service in the form of janitorial or maintenance personnel. Routine and long-term preventative maintenance plans will be followed to achieve maximum efficiency in the operation of the property. All tenants will have our 24-hour emergency telephone number.
Construction/Renovation: Peter M. Scotti & Associates has a strong history of increasing the long-term value of properties. Our resources include, but are not limited to, licensed electricians, plumbers, and carpenters. In addition, Peter M. Scotti & Associates will solicit bids for contracted or sub-contracted work to be performed on the property. Our Property Managers will supervise on-site personnel as well as contractors to ensure that established specifications and schedules are met.
Inspections: As part of our preventive maintenance program, we will perform weekly property inspections of the exterior and interior common areas including all common equipment.
Marketing/Leasing: Peter M. Scotti & Associates employs a full staff of experienced leasing agents with a proven rate of success. Our resources and networking capabilities allow us to maintain a comprehensive data base of area buildings and tenants which results in a high rate of occupancy for the properties we manage. In this changing market, we have been able to maintain our track record of successful leasing through our innovative approaches to marketing specific properties.
ADMINISTRATIVE
Communication: Peter M. Scotti & Associates’ office is centrally located. All tenants’ requests are made through Peter M. Scotti & Associates, either in person, in writing, or through or 24 hour emergency phone service. We maintain open lines of communication between tenants and management. Furthermore, we will enforce building rules and regulations.
Property Records: Peter M. Scotti & Associates keeps complete building and tenant files which may be accessed by the owners at all reasonable times.
Insurance: Specifications will be recommended and bids collected in the review of the current policies. Peter M. Scotti & Associates will handle claims and insurance losses on behalf of the owner.
Management Plan: A comprehensive three to five year management plan will be written as a guideline for the overall operation, financial planning, and scheduling of capital improvements.
For More information on the Property Management Services offered by Scotti Real Estate Contact Our Professionals.