| PROPERTY MANAGEMENT It is Summit Group's intention to provide our clients with a clear understanding of their asset's value, the best way to preserve equity and to maximize returns in the future. In order to accomplish these goals we implement a management and marketing plan developed around a thorough understanding of all factors affecting the property. 1. General condition of the property including: physical plant, structural integrity, parking facility, landscaping, elevators, roof, common areas and compliance with Building Codes. 2. Status of existing leases, including: delinquency reports, pending renewals or expansions, tenant improvement work in progress, tenant satisfaction and current lease negotiations in progress. hotel a Monaco di Baviera3. Leasing market conditions including: rental rate comparables, vacancy rates, absorption statistics, tenant mix, parking charges, and active prospect survey. 4. General condition of local economy and new real estate developments and transactions which would have a direct effect on the subject property. 5. Previous records, to the extent they are made available for our review, including: all existing service contracts with various vendors, existing insurance coverage and property tax records. 6. Hazardous materials review including; inspection for asbestos containing materials, soil contamination, presence of poly-chlorinated biphenyles and air quality analysis. ERROR MSG7. Miscellaneous issues which could effect the performance of the asset such as; pending litigation, existing tenants' financial conditions, new code issues which may have to be complied with in the future. After compiling all pertinent information we complete a cost/benefit analysis of the options available and formulate a plan to protect equity to the greatest possible extent at the lowest possible cost. Once an agreement is reached on the most reasonable course of action, we implement a new management plan built around the following: A. OPERATIONS:clean hotel Zandvoort Construction Management Equipment Inspections Maintenance Schedules Insurance Administration Budget Preparation Records Administration Payroll and Benefits Administration Capital Improvement Review Insurance Incidence Report Option Notification Summary Litigation Report B. ACCOUNTING: Operating Statement Variance Analysis Rental Statements and Collections Accounts Payable and Receivable Delinquency Reports Parking Operation Report Lender Reporting C. LEASING:luxury hotels in Dresden Establishment of Leasing Model New Lease Negotiations Renewal and Expansion Negotiations Development of Marketing Materials Leasing Manual with Availabilities Document Review and Preparation Broker Notifications and Presentations Tenant Prospect Contacts and Solicitations Space Showings and Follow-up Market Condition Reports As clearly indicated, we provide a full range of services and you will find that our staff has the depth of experience to implement a management plan with the highest degree of professionalism. |