Property Managers Can Help Protect Your Investment
Managing commercial properties is a lot of work! Often commercial property owners have invested in multiple pieces of property, meaning they own and take care of several buildings across Miami. It is impossible to manage these buildings all on your own. Commercial property owners all across Miami have trusted JMK Property Investment to protect their properties. We will help protect your investment property in Miami Beach by hiring maintenance contractors, supervising construction, maintaining tenant relations, and more! We protect your property by overseeing the day-to-day operations. Read on to learn more about the ways in which we will protect your property.
It is inevitable: maintenance will be needed at your building from time to time. At JMK, we take the maintenance worry out of the hands of the property owner. We find independent contractors and suppliers that will do the work for a budget-friendly price. We oversee annual bidding for these services to ensure the work is high-quality and competitively priced. All independent contractors that are brought in are insured and experienced. In addition, we keep track of routine maintenance, such as work on the HVAC system. At JMK, we keep your buildings safe by scheduling all needed maintenance appointments. We take care of issues in a timely manner and also do preventative maintenance to keep your property safe. We also provide regular inspections to make sure that all is well at your property. As a property owner, this takes the burden off of your plate, as it can be difficult to remember when certain maintenance is necessary across various properties.
Another way we protect your property is by providing construction supervision. Whether you are renovating, building an addition, or starting from the ground up, we will be there to supervise the process. We will help find contractors who can work on the project. We will also be there to oversee the construction to make sure things are staying on track and within budget. At JMK, we will make sure that construction goes smoothly, and we will be there to step in to discuss issues with the contractor. We will keep in touch with the property owner throughout the entire process to make sure everyone is on the same page.
Whether you own a retail, office, or medical building, you likely have tenants that owe you rent. We protect you and your building by making sure the rent is collected each month. Our top priority is making sure that you get paid on time each month. Our rent collecting procedure includes giving tenants monthly statements, daily monitoring of cash receipts, and demand letters in the case of a tenant not paying rent. If the tenant still hasn’t paid rent after a certain length of time, we will make follow-up phone calls and pay them a visit when needed. As a last resort, we will take legal action as long as the owner approves it. We want to protect your property by making sure that each tenant is paying rent on time. This is a huge task lifted off your plate as a property owner. Rest assured that we will get the job done and that your rent payments will get to you in a timely manner.
As a commercial property owner, you can be a skilled investor but not familiar with all the rules and requirements of financial reporting. That is ok! At JMK, we use state-of-the-art property management and accounting software to create financial reports and do in-house accounting. Each month, we create an operating report which includes the following:
- Income and expense statement
- Balance sheet
- Budget comparisons
- Variance analysis
- Rent roll
- Tenant activity
- Aging Report
- Check register
- General ledger
- Bank reconciliations
In addition, we prepare accounts payable and receivable reports, CAM reconciliations, and budgets. Each year we will prepare an annual budget for owners to review. The time and effort we put into these reports and the accounting of your property will help protect the finances of your investment. An added benefit of having your property management company prepare all these documents is that they truly know the ins and outs of your investment. We can help customize monthly reports to meet the needs of the owner based on what data they need to see. Also, in-house accounting allows for greater control and the ability to keep the performance of your investment confidential.
One of the most important parts of being a commercial property investor is finding quality tenants to fill up the space. A property owner’s worst nightmare is having bad tenants or being unable to fill the space with tenants. At JMK, we work to protect your property by helping you retain your tenants. First, we have a friendly person answering our phones so that anytime a tenant calls, they feel welcome. Second, we provide a 24-hour emergency answering service. This allows your tenants to feel safe knowing that if there is some type of emergency in the middle of the night or on a holiday (i.e., a pipe bursts and their office is flooding), that they have someone to call at all times. With every call we get, we make sure that the issue gets addressed as soon as possible.
At JMK Property Investment, our primary goal is to protect your investment property in Miami Beach. We help property owners focus on their investments while we handle day-to-day operations at the property. From scheduling routine maintenance appointments to establishing positive tenant relationships, we do it all. We provide full-service commercial building management in a way that is unique to each owner and building. We customize our approach based on the goals and needs of each owner. At JMK, we work to protect your investment each day so that in the long run income is maximized.