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To assist owners with multiple sites across North America, the Asset Administration Team of Grubb
& Ellis|The Furman Co. provides a comprehensive solution to real property
administration needs.
Grubb & Elllis|The Furman Co. reviews and audits each site, abstracting all
general, financial, and compliance data from the files. Abstracted property data
is entered into a software/database format and reports are customized to meet
the client’s requirements for asset control.
RENT/OPERATING EXPENSE PROCESSING
Through a client-controlled “work fund”, Grubb & Ellis|The Furman Co. will
consolidate monthly rent and other expense payments. Monthly rent and other related
payables are processed after being reconciled to pertinent information residing
in the property database.
RENT ESCALATION / CAM PROCESSING
Property administration specialists review and process annual landlord operating
expense billings. Leases are audited for accuracy against documentation submitted
by the landlord. If the landlord billing is in question, Grub & Ellis|The
Furman Co. will communicate with the landlord, then challenge and negotiate the
proper billing. Adjustments will be entered into the database and all savings
are recovered by the client. If the team represents the owner, the escalation
charges are generated for payment by the tenant.
DOCUMENT MAINTENANCE / REPORTING
Grubb & Ellis|The Furman Co. professionals monitor each file, maintaining
financial and compliance data in a centralized database. Listed below are examples
of maintenance criteria.
Payee Data Rent Roll Lease
Option Dates
Square Footage Special Situations Occupancy
Cost Ratio
Co-Tenancy Options Comparative Evaluations Early “Kick-Out” Dates
Real Estate Tax Payment Insurance Coverage Emergency Contact Data
Easily accessible information is provided to the client by Grubb & Ellis|The
Furman Co. and reports are generated for action and in sight. Grubb & Ellis|The
Furman Co. reports on any designated time interval and will also create customized
reports. A readily available database can be tailored to specific client needs,
thus any property information can be tracked and reported.
Grubb & Ellis|The Furman Co.'s Asset Management Services Group is an Accredited
Management Office (AMO) through the Institute of Real Estate Management, the highest
national accreditation for Property Management offices.
Property management supervision
Leasing supervision
Instruction/coordination of annual business plans
Instruction/coordination of monthly reports
Monitoring cash management activity
Distribution of funds
Development/maintenance of databases
Annual budget preparation
Lease analysis
Proforma comparison of lease proposals
Client assistance with internal reporting
Preparation/maintenance of due diligence inventory
KEY BENEFITS
Staff dedicated to one function – Real Property Administration
Accurate, efficient and service-oriented results
Flexible, user friendly, non-proprietary database
Simplification of the real estate function
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