Property Management
Anchor Retail Management offers full service and customized Property Management services to retail property owners and lenders for receiverships. We administer all the duties and responsibilities of day-to-day operations of the property, including accounting, tenant relations, maintenance and repair. We assist in the preparation of the annual budget, monthly reporting, and financial performance of the property.
At Anchor Retail Management, we can perform the following property management duties for our clients:
- Initiate preventive maintenance programs and surveys for all roofs, HVAC units and parking lots.
- Establish and implement programs to upgrade common areas both interior and exterior.
- Supervise all vendors related to maintenance.
- Attend to the maintenance supervision of all ordinary and extraordinary repairs and alterations.
- Analyze periodically all service contracts to determine if alternative contractors would be more cost-effective.
- Collect all rents, other charges, and miscellaneous income.
- Review all existing leases and prepare current lease abstracts.
- Provide the following monthly financial reports:
- Collections, billings made during the month with sources of income identified;
- Detailed expense ledger including Current Rent Roll, Tenant Sales Information (if applicable), Bank Statement and Bank Reconciliation Report
- Obtain, verify and pay real estate and personal property tax, improvement assessments, and other like charges as directed by Owner, and pay amounts due under service contracts.
- Make all mortgage, ground lease and promissory note payments and comply with mortgage documents as directed by Owner.
- Review real estate tax bills and assessments as directed by Owner, protest when required by Owner, and employ a real estate tax consultant if necessary, as approved by Owner at Owner’s expense.
- Use diligent efforts to enforce leases in accordance with their terms and notify Owner when it becomes aware of any default under any lease.
- At Owner’s request make distributions from the Operating Account in accordance with the written request of Owner.
To get started, we request the following items:
- Current Rent Roll
- Previous Year P&L and Current Year P&L Year-to-Date
- List of all third-party service providers
- CAM, RE Tax, and Insurance Reconciliation
- Copies of all Leases
- Most recent Survey and Title Report
- All building plans
- All existing warranties
For more information, please contact Tori Nook at tnook@anchorretail.com