We create a culture of excellence at The REMM Group through a rigorous screening and hiring process and ongoing training, motivation, and team development. The responsibilities carried out by our property managers are outlined below, the integrity with which they perform those tasks comes from the culture of excellence we foster at The REMM Group.
The property manager’s fiscal responsibilities include ensuring all revenues due ownership are received in a timely manner including minimum rent, percentage rent, impounds, real estate taxes, insurance premiums, CAM estimates, parking fees, and late charges. They ensure that the tenant’s pro rata share of CAM, exclusions, and expense caps are calculated and paid correctly. They obtain the gross sales reports of retail establishments. They monitor trends in the figures submitted on gross sales reports and take appropriate action when necessary. They keep the owner informed of operations and provide monthly financial reports in accordance with needs of ownership. They are alert for expense efficiencies and revenue enhancement opportunities, which they propose to ownership as available. They prepare and serve Notice to Pay Rent or Quit as needed. They prepare an annual management plan and detailed budget for each property. The budget includes capital projects and specifies which items are recoverable from the tenants.
The property manager creates and maintains quality tenant relations by cultivating a thriving environment, and responding promptly and effectively to tenant or visitor concerns. They strategically resolve issues and maintain detailed chronological notes related to those concerns and all property operations. They collaborate with tenants regarding upcoming repairs that will take place, and properly inform them of scheduling and potential inconveniences, such as slurry or painting.
Tax and Governance
The property manager maintains files on the project’s real estate tax assessments, bills, and correspondence. They ensure that the assessment of real estate values by the County Assessor’s office is reasonable for each parcel of each property. If the assessment is determined to be unreasonable, they will present it to the ownership for further action. They also meet and comply with the requirements of inspectors, government officials, and legal counsel.
The property manager can provide full leasing services. They effectively negotiate leases with tenants and prepare those leases for signature. They make suggestions regarding the tenant mix and prospective tenants. They assist brokerage, ensuring the property is maintained in a first class manner and that vacant units are show-ready. They prepare lease abstracts and administer all lease provisions.
Insurance and Notices
The property manager collects, reviews, and tracks all insurance certificates for the property’s tenants and vendors. They diligently follow up with tenants who have failed to provide certificates per their lease. They handle the submission of insurance claims by visitors who report sustaining damage while on the property. They post notices of non-responsibility where tenants are performing construction.
The property manager’s common area responsibilities include monitoring and controlling all activities, including sidewalk sales, activities by outside groups, employee parking, and removal of abandoned cars. They maintain the integrity of the property by overseeing the maintenance and repair of the building and common areas, including, but not limited to, sweeping, lighting, pest control, asphalt maintenance, janitorial services, painting, refuse removal, and landscaping. They are responsible for the hiring and termination of contractors and negotiation of service contracts. They maintain files on all maintenance and repairs for each property, and maintain a chronological record of all projects.
The property manager encourages cooperative advertising among merchants and represents the landlord in this regard. They approve, or route for approval, all sign renderings submitted by tenants at the property. Additional online reputation and social media marketing for retail centers are also available.
The property manager will obtain estoppel certificates from each tenant and assist in the transfer of the management and lease records as directed by ownership.