Managed properly a multi-tenant facility should be undertaking and completing capital improvement projects annually. Our approach is simple, we do not comprise on the quality of work from our vendors, we negotiate the most competitive rate for the volume of work our portfolio requires and we continually re-evaluate the long-term goals for the property. Our maintenance staff handles inspections and routine concerns however for maintenance projects we utilize vendors we have pre-existing professional relationships with. We negotiate the most competitive rates and our portfolio garners us attentive service.
For each of our multi-tenant facilities we develop preventative maintenance schedules combined with a capital improvements plan. Our maintenance staff complete regular inspections to ensure lease compliance as well as to proactively identify and address maintenance issues. This includes regular changing of air filters in multi-tenant facilities, as well as inspections of fire and life safety equipment. We work with the property owners to determine their long range plans for the complex and develop a capital improvements plan to achieve those goals.
Paramount for any property investor however is maximizing the ROI of a multi-tenant facility. To these ends we employ a multi-tiered approach. We push aggressive rent targets and achieve them for a multitude of reasons. Our advertising strategy pushes our available units in front of prospective tenants, our non-compromising standards for maintenance make our complexes attractive places to live and our customer service and comprehensive lease renewal programs extend the average tenancy of our residents.
Client Contact & Involvement
Weekly conference calls are standard through the acquisition process of a new client’s multi-tenant facility. Once acquisition is complete, rent collection is stabilized and all outstanding maintenance issues are addressed, frequency of communication is dependent upon the individual needs of the particular property or the preferences of the owner(s). It is a company standard to provide weekly updates though email or conference calls from the asset manager(s) responsible for your property through the occurrence of unforeseen circumstances, such as eviction proceedings, major renovations (planned or unplanned), periods of unexpected vacancy, etc. Outside of the initial acquisition process and extenuating circumstances, your asset manager will be happy to schedule planned conference calls as often as the property owner’s request.
A member of our maintenance staff will enter each unit of our multi-tenant facilities no less than every 90 to change HVAC filters and inspect mechanical systems (HVAC, water heater, etc). We also inspect Fire and Life Safety Systems in our multi-tenant facilities no less than quarterly or as otherwise defined by insurance and/or in compliance with local and state insurance and fire marshal guidelines.
An asset manger of your account will visit your property(s) no less than every 30 days. The asset manager will personally be involved in any major repair and/or capital improvement projects and will be available to communicate the details of any atypical circumstance such as a period of extended vacancy, catastrophic property damage, etc.
Our company intentionally keeps a very limited on-staff maintenance department in order to maintain an objective and unbiased approach to maintenance recommendations, vendors and costs. Our maintenance department, in conjunction with asset managers, conducts all regular inspections. Maintenance staff handles 90-day inspections, changing HVAC filters, mechanical system inspections and routine maintenance activities. We employ a competitive bid system for substantial maintenance and capital improvements work. We have a network of over 50 vendors with whom we regularly contract in 18+ maintenance categories. JDK has neither financial investment nor loyalty to any vendor. Vendors are selected for a job based upon three criteria: quality of work, attentive service and quoted cost.
Finances / Presentation to Owners
All monies spent on the operation, maintenance and improvement of a client’s real estate assets will be accounted for and open to review on demand by the client. JDK will furnish monthly reports to clients when rent income is dispersed. These reports will include itemized monthly statements, as well as 12-month cash flow reports with categorized expenditures. Our property management software provides for a multitude of other reports including but not limited to vacancy, occupancy, lease expiration and cash flow. All reports can be generated on demand by your asset manager and can be automatically included with your monthly owner packet through your owner portal if requested.
Your real estate property will be advertised on our website as well as on over two dozen top rental platforms including Zillow, Trulia, Apartments.com, Hotpads, Rent Jungle and a multitude of others. We do not post to Craig’s List. We pursue an aggressive online presence utilizing both search engine marketing and optimization. Our company’s web site is fully integrated with market leading analytics software allowing us the competitive advantage of accurate and detailed statistics of each unique visitor in real time. Such software calculates metrics defining daily page views and engagement with our page content as defined by bounce rates, pages per session and average session duration. We can define the city in which the majority of our web site traffic originates in, as well as the age and gender breakdown of our online users.
Filling Rental Units
Primarily JDK utilizes only in-house showing coordinators. We utilize approximately 5-10 showing coordinators, paid on a performance basis. As a company we do employ a competitive cooperation program with other brokers and agents when applicable. However, we prefer to utilize our in-house showing coordinators as this yields the best results. All in house showing coordinators are licensed real estate agents.
Placing and Qualifying Tenants
- Complete advertising package for your property
- Personal property showing, prospective tenants are accompanied by a licensed real estate agent at all times
- Thorough tenant screenings including
- Criminal background & credit history report
- Income & rental reference verification
- Comprehensive renewal program
- Market analysis prior to any lease renewal
- Minimum monthly visits by a property manager
- 90 day inspections by a maintenance vendor, changing HVAC filters, inspecting mechanical & fire safety equipment
- Automatic revert-to-management utility setup program ensuring service is never interrupted
- 24-hour emergency maintenance service
- Preferred vendors in over 18 service categories
- Competitive bid system for repairs over a pre-set threshold
- No pre determined service providers
- Receive and process tenant rent payments & vendor invoices
- Online tenant rent payments
- Direct deposit for owner net proceeds by the 15th of each month
- Process and pay bills against properties; HOA dues, insurance & property taxes if requested
- Deliver financial reporting by monthly and yearly statements
- Customizable reporting available upon request
- Delinquency follow-up & eviction services if necessary
- Furnish end-of-year tax reports
- Owner portal giving access to account statements on demand
- No costs to an owner until a qualified tenant is signed
- A nominal monthly management fee based upon rents collected
- Leasing fee (Leasing fee is waived if previous tenant does not fulfill lease terms.)
- No lease renewal fees
- No additional fees for initiating legal proceeding, only actual costs incurred
- No monthly fees for vacant properties