Physical Property Management
Lundy Management Group offers full services for property management of a wide range of product. With over 25 years of experience, Lundy has the people and the programs for complete services. Lundy can unbundle its management services into two areas: financial management and physical property management. Lundy can provide a menu of services from which an owner can choose. We can structure management to suit an owner’s needs. About half of the property Lundy manages is for third parties and ranges from large mixed use projects, to medical facilities, to standard office and retail.
Financial management can include the collection of income from rents or dues or other payments to the tracking, recording and payment of expenses under both cash and accrual accounting. Lundy can assist with financing as well as loan or lender relations. Physical property management services include our ability to self-perform many minor maintenance items with our staff of maintenance engineers to management of vendor contracts, improvements and changes. Our pro-active approach is intended to find and solve management issues before they become costly or a problem.
As part of our initial services, we will perform a complete analysis of the property and evaluate its needs. We will design and submit a introductory or “takeover” plan which we term The First 90 Days Action Plan. This is followed by the First Year’s Plan and the ongoing budgeting and financial plan. Following the initial introductory period, we will continue our diligent monitoring of all services and focus on tenant satisfaction. We will respond immediately to any requests for services, such as additional maintenance or individual tenant needs.
We will work closely with the tenant, upon lease signing, to assist in any way possible with a smooth start-up. We will continue to focus on meeting the tenant’s needs during their lease term. For the tenant’s convenience, Lundy has an after hours communication system to ensure prompt contact with a member of our team 24 hours a day, 365 days a year. The level of service we intend to provide will be second to none and focused on achieving high tenant retention and satisfaction
Financial Property Management
The Lundy Group offers through Lundy Management Group, LLC an unbundled range of services which include financial property management for all types of commercial businesses. Our financial department can generate detailed information quickly and accurately using both cash- and accrual-based accounting. We have the ability to generate complicated reports, including preparation of tax returns, using one of several software packages. If needed, we can prepare depreciation tables and other information. We use customized Windows-based commercial property management software packages like Yardi and Excel and have experience with other property management software. Our online capabilities allow us state-of-the-art information processing and reporting to owners. We can customize reports to meet any specifications or desires.
The Lundy Group can be responsible for collecting rents, maintaining individual tenant information and supervising the operating expenses incurred to run the property. This includes:
- Preparation of detailed and current budgets and monthly reports
- Review of monthly and year-end reports and invoices
- Approval of the payment of invoices
With this in mind, we will review monthly reports to verify expenses before these reports come to you for final approval and payment authorization. In addition, we make accurate one-year projections of future expenses and update these projections every six months.
We will work closely with you in the start-up phase on documenting expenses to ensure continuity from our starting point forward. From this base of information, we can perform projections and begin our formal monthly accounting reporting to you