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Property Management Summary

Commercial World, Inc. provides a complete range of Marketing and Management services designed to produce the maximum return for your asset. Marketing and Management of a property must be fine tuned and closely coordinated to produce, and maintain, a successful property. We have the knowledge and technology necessary in today’s market to provide the best service for our clients.

Marketing

A market analysis is prepared on your property with regard to design flexibility, ingress egress, amenities, parking ratio, demographics, etc. Based on the market survey, your property’s position in the market is determined establishing rental rates and any improvements necessary to be competitive. This survey and the suggested rental rate are then presented to you for your approval and implementation. A marketing campaign is then developed and presented to you for approval. With final approval from you we will prepare and implement marketing, leasing and advertising programs, and cost estimates based on careful research. All cost incurred is at owner expense.

A marketing campaign would include, but not be limited to, the following:
1. Identification of the target tenant profile for your property.
2. Using our in-house data base, matching your property with the needs of these prospects.
3. Direct Mail: A direct mail campaign may be implemented with the targeted tenant profile being emphasized as well as other probable tenants. Immediately after the mail out telemarketing will follow in order to survey the prospect and provide him with all data necessary to interest him in the property.
4. Cold Call Canvassing: Competitive properties within the marketplace will be canvassed.

Management

The four areas of major concern to Commercial World, Inc. as property manager are Physical Property, Operations of the Property, Financial Responsibility, and Tenant Relations. The following is a brief overview of our approach.

I. Physical Property: To properly market and maintain the desired occupancy level the physical property must conform or exceed the standards of competing properties. We strive to ensure that the standards of properties under our control exceed the standards of any other competing properties. Initial emphasis is placed in the following areas with continual follow-up during the management period.
1. Exterior: A detailed analysis is made of the exterior of the building including the parking lot, landscaping, basic structure and roof.
2. Interior: Inspections will be made monthly to all interior space including common areas, occupied and vacant tenant space, mechanical equipment rooms, and any other areas pertinent to the operation of the property.
3. Building Statistics: All statistics pertaining to the facility are compiled to assist us and other brokers in staying current on the availability of space.

II. Operations: The following are the major items monitored pertaining to the ongoing operation of the facility:
1. Reporting: Activity report regarding leasing activities including status of current tenants.
2. Contracts: As there are numerous contracts to be negotiated regarding janitorial, lawn maintenance, elevator, etc., we will design the bidding criteria and will negotiate, implement and regulate all contract services.
3. Inspections: Scheduled, as well as unscheduled, inspections are made of all properties.
4. Rules and Regulations: Enforcement is constantly monitored as to the rules and regulations of the property.
5. Energy Conservation: All conservation practices will be implemented at all times.
6. Construction Supervision: Commercial World, Inc. will assist in the preparation of floor plans for tenants and when finalized and leases executed, we will solicit bids for the construction of the space and will monitor all phases of construction. While a fee is charged for major work, supervision of "minor” repairs (those under $500.00) is considered part of the overall management responsibility.

III. Financial Responsibility: Budget, Projections, and Accounting:
1. Budget: A budget is prepared to coincide with the fiscal year of ownership. Included in the budget will be the income projections which will include the lease-up period, if applicable, and an itemized chart of accounts reflecting the expenses.
2. Projections: A short and long range projection is made for the property to include recommendations as to capital expenditures in order to achieve the desired cash flow. Limited expenditures combined with increased rental income will accomplish our mutual goals.
3. Accounting: Basic Accounting includes the following:
4. Chart of accounts: A chart of accounts will be designed to accomplish your special needs.
5. Accounts Receivable, Accounts Payable, Collections and Monthly Reports.
6. Monthly financial reporting:
A. Balance Sheet
B. Income/Expense Statement
C. Owners Statement
D. Trial Balance
E. Detailed General Ledger
F. Check Register/Deposit Register/Transaction Register
G. Bank Statement Reconciliation
H. Vacancy/Occupancy
I. Lease Increases
J. Lease Expirations
K. Tenant Detail/Rent Roll

IV. Tenant Relations: Two major reasons to maintain constant tenant relationships are to retain existing tenants, and to be able to utilize the existing tenants as selling tool when showing the facility to prospects.
1. Tenant Rapport - We will establish a business rapport with the tenant by personally having the Leasing Manager and Leasing Consultant initiate personal contact to discuss the tenant’s needs and desires. Open mutual participation in the functions of the facility establishes an excellent working relationship beneficial to all concerned.
2. Tenant Requests - Tenant requests are logged and a copy of the tenant’s request is filed when the work is completed. If there is going to be a delay in accomplishing the work, the tenant is notified.
3. Communications - An open line of communication is maintained between the property manager and tenant at all times.
4. Re-lease - All existing tenant leases will be reviewed and a lease synopsis will be prepared. The Leasing Consultant will ascertain if there are requirements for expansion with each tenant and re-lease as necessary.
5. All statistics pertaining to the facility are compiled to assist our Leasing Consultants and other brokers in staying current on the availability of space. The Leasing Manager will handle the day-to-day functions. The Management and Leasing Team will provide the following services.
A. Property Inspection
B. Accounts Payable/Receivable
C. Preparation of Annual Budget/Budget Control
D. Screen Tenants (Credit reports obtained at Owner's expense)
E. Negotiation of New Leases/Renewals
F. Maintenance Supervision
G. Rent Collection
H. Maintain interior/exterior of premises
I. Leasing Programs
J. Plan, organize, supervise and direct the activities of each property
K. Full supervision, hiring and training on-site personnel
L. Development of Policies and Procedures
M. Payroll
N. Sales Tax/ Property Tax

Monthly Management Fee

The monthly management fee in the local market normally ranges from 4 percent to 8 percent of the total Gross Income. Our interest is in establishing a long-term relationship. We will quote a fee based on our analysis of the property after an expression of your interest.

Lease Commissions