- Collect rents or other monies due from invoices.
- Administer and enforce lease provisions.
- Maintain full operating cost records for escalations.
- Evaluate purchases as to need, cost, budget allowance, etc.
- Review all bills for payment and authorize payment of the same.
- Review and evaluate yearly property tax statements and property insurance polices.
- Administer all service contracts (to include negotiation of the same, review and cancellation, if required).
- Administer all construction contracts (to include negotiation of the same, review of documentation, acquisition of lien releases, etc.).
- Handle correspondence between parties.
- Process tenant complaints and initiate corrective action.
- Prepare monthly, quarterly and annual reports and budgets.
- Maintain all management records, files and accounts.
- Conduct routine and spot inspections of the project and all systems.
- Maintain mechanical, electrical and other systems.
- Manage the utilities including implementation of energy conservation techniques.
- Schedule and supervise janitorial and grounds-keeping contracts.
- Supervise all other service contracts and service personnel.
- Establish and supervise fire protection and security systems.
- Remove snow, when necessary.
- Respond to emergencies.
- Coordinate and administer all additional or corrective construction and tenant construction (to include determination of need, development of plans and specifications, bidding, award of contract, supervision and acceptance of work).
Periodically, we inspect the property from the roof to the asphalt and continue your preventive maintenance program or establish one for your project. We will ensure the following components and systems are reviewed regularly:
- Landscaping (Interior/Exterior)
- Carpet Cleaning and Replacement
- Pest Control
- Lot Cleaning
- Glass Replacement
- Glass Cleaning
- Tenant Improvements
- Snow Removal
- ADA Compliance
Fiscal ServicesDeering Management Group's fiscal services are designed to provide both the owner and management with information necessary to properly assess the status of the investment, by utilizing standard Deering Management Group reports or special reports required by the ownership.
- Operating Budget:
A calendar year budget will be prepared at the beginning of each year. Income and expense items are detailed by individual chart of account categories for each month. The budget becomes an integral part of the management plan and also acts as a guide toward its execution.
Our computerized accounting system provides the following accurate reports in a format that can be rapidly analyzed:
- Income and Expense Statement: A compilation of each income and expense account total with normal statement subtotals showing gross and net income.
- Income Detail: Suite number, tenant name, charge classification and amount, beginning and ending balances, amount collected and date paid through.
- Expense Detail: Vendor name, invoice number and description of payment, chart of account classification and code, check number and amount.
- Budget Comparison: Actual, budget and variance amounts for the month and year-to-date.
- Balance Sheet: A financial statement summarizing the property's assets and liabilities at a specific point in time.
- General Ledger: A complete record of financial transactions by account number, description, journal entry and reference showing both debits and credits.
- Rent Roll: A list of tenants which includes the lease expiration date, security deposits, and rental rate for a specific time period.
- Delinquency Report: A report showing delinquency and aging by unit number, occupant name, deposits held, balance due, and the number of days the amount is outstanding.
- Additional reports and schedules can be provided as required.
- Calculation of Charges:
Rental, operating expenses and tax adjustment, CPI adjustment and percentage rents are calculated and invoiced as due.
All funds are processed through a trust bank account in accordance with Oregon or Washington laws.
Master Insurance ProgramOne of the most important benefits that we can offer you and your organization is the ability to include your project under our Master Insurance Program. This program includes the following coverage:
- Blanket Property and Loss of Rents Coverage on a "Special Form" basis
- Deductible $5,000
- $25,000,000 of Earthquake (EQ) Coverage - 5% Deductible per location
- General Liability - Limits of $1,000,000 each occurrence/$2,000,000 aggregate
- Non-Owned and Hired Auto Liability - Limits $1,000,000
- Umbrella - Limits $10,000,000
- Boiler & Machinery coverage for Building Equipment & Systems
- Building Ordinance - $1,000,000 for increased costs due to new building codes
The insurance companies underwriting our program are Hanover (Property & General Liability); Mt. Hawley Insurance & Lloyds of London (EQ); and Chubb/ACE (Umbrella). Hanover has an A.M. Best rating of A 15. Our EQ carriers have an A.M. Best rating of A+12 & A +15. Chubb/ACE has an A.M. Best rating of A++15. All are approved by major lenders. The carriers have strong regional teams with local support for underwriting and claims.