JMP Real Management, LLC Property Management Approach Philosophy
JMP Real Estate Management, LLC assists a wide spectrum of owners – including institutions and individuals with office, industrial and retail assets – using a seamless platform of business applications that delivers measurable returns with the objective of transforming assets into opportunities.
Our solutions oriented resource teams are committed to one goal:
Using our extensive industry knowledge, consultative approach and resources we help our clients maximize the value of their real estate assets.
To meet the unique needs of our clients, we utilize multiple business solutions to implement an individual value-augmentation plan for each asset – a plan to create/add/protect value with a focus on revenue enhancement, operational efficiency, and service excellence.
Three operating principles guide JMP Real Estate Management; integrated and coordinated service structure:
JMP Real Estate Management, LLC attempts to balance the goals of achieving optimum operational cost efficiencies with the objective of providing the highest possible level of service. In order to find equilibrium between these frequently conflicting goals, JMP Real Estate Management undertakes a variety of steps when reviewing properties. These steps include:
- Evaluation of the owner’s service level expectations including a baseline audit conducted immediately upon retention.
- Analysis of existing leases, receivables, and tenant relationships.
- Assessment of operating expenses and opportunities to increase revenue.
- Evaluation of each contracted service to determine its effectiveness and cost compared with the marketplace.
- Review of the existing budget and comparison of budget to actual performance, including comparing costs against industry standards and other benchmarks.
JMP Real Estate Management, managers and personnel are trained to identify areas within their properties and portfolios that can be changed to enhance operating efficiencies and reduce overall operating expenses. As a result, JMP Real Estate Management has developed a reputation for providing the highest level of service to tenants and owners, while at the same time controlling costs.
Clients achieve significant efficiencies through our procurement platform, JMP Real Estate Management joined forces with select industry partners to leverage sizeable collective buying power. Through this site, our managers are able to purchase property management maintenance, repair and operations products and services at discounted prices.
JMP Real Estate Management, Purchasing program was created to identify and deliver the earnest price discounts attainable as a result of our expertise.
Participating companies were selected based on their experience in supplying quality goods and services to JMP Real Estate Management.
SERVICE PARTNER ALLIANCE PROGRAM
The Service Partner Alliance Program was developed to deliver top quality contracted services to our clients at reduced prices. We have a Managing Director of Procurement dedicated to strengthening relationships with providers of services in each of the top five categories: janitorial, security, elevators, lighting and trash management.
VENDOR COST MANAGEMENT
Service contracts are annually competitively bid every 24 months. Bids are solicited from JMP Real Estate Management preferred providers, the client’s preferred vendors, and other local market providers in an effort to improve service levels and/or contain costs.
A thorough review of existing service providers is completed within 30 days at the beginning of the JMP Real Estate Management contract to assess the scope of services and fee structures of current contracts.
When it comes to customer service, JMP Real Estate Management employees share a simple philosophy: creating value for our client is our most important responsibility.
An integrated, creative, dedicated service approach allows us to exceed the expectations of both owners and users of real estate.
COMMUNICATING WITH AND RESPONDING TO CLIENTS
In conjunction with our clients, we design a follow-up schedule based on their needs and structure.
That schedule might include same day follow-ups for certain routine requests and communications. In certain heavy contact scenarios (e.g. budget season) or emergency situations, an accelerated turn around time (e.g. 2 hours) might be established.
TENANT RELATIONS PROGRAM
JMP Real Estate Management will work with our owner clients to customize a tenant relations program. Under the direction of JMP Real Estate Management Senior Management, we will establish a customized tenant relations program for the portfolio and a corresponding budget.
Elevated Service Level
As not a single competitor has a similar program, our team will provide a level of service that will separate JMP Real Estate Management managed assets from the pack by delivering services that are unparalleled within the industrial property industry.
Protection of Property Value
By working with tenants to ensure effective property management on maintenance and repair items for which the tenant is responsible, JMP Real Estate Management can ensure that the tenants are maintaining our owner client’s asset consistent with the lease obligations.
Upon approval from ownership, implementation of the Industrial Strength program will begin with a direct ad campaign sent to the current tenants. Services offered by JMP Real Estate Management real estate professionals will include providing specifications, bidding out the work to qualified vendors, pre-negotiated contract forms and the price containment inherent in JMP Real Estate Management buying power.
Other tenant relation's activities include:
- Move-in Program Elements
- Move-in/Renewal Gift of Plants or Flowers and Welcome Package
- Tenant Handbooks
- Contact and Emergency List
- Emergency Procedures Handbook
- Operational Program Elements
- 2-Hour or Less Response Commitment for Work Orders
- 24/7 Availability in Emergency Situations
- Tenant Newsletter
- Tenant of the Month Program (Gift Card Awarded)
- End-of-Year Gifts
- Regular Manager-Tenant Interaction Elements
- Regular Tenant Visits
- Maintenance Follow-ups
- Event Elements
- Tenant Appreciation Functions
The most important aspect of our tenant relations program is our ability to provide superior customer service with a focus on tenants, their employees, and their customers.
JMP Real Estate Management has established a guidebook that assists our managers in developing a tenant relations program that adheres to relationship-building fundamentals, yet meets the unique needs of each property.
JMP Real Estate Management has made a commitment to provide our team with high-quality operations and technological support.
JMP Real Estate Management Technical Services, the maintenance and engineering arm of our firm, provides comprehensive building and technical support services at JMP Real Estate Management managed properties, including responding to tenant calls, preventive maintenance, site inspections and operational audits. Our professionals are able to perform the following functions, as needed:
- PC and web-based Preventive Maintenance and Tenant Request Programs.
- Electrical Maintenance.
- Indoor Air Quality Management.
- Lighting Maintenance.
- Energy Management Support.
- Emergency Power Maintenance.
- Plumbing Maintenance.
- Minor Roof Repairs.
- General Maintenance.
- HVAC Maintenance.
- Safety Programs; and Safety Training.
The Real Estate Manager, will supervise top quality service contractors for landscaping, parking lot sweeping, etc. at the property in order to get maximum results. Each service provider will be held to the highest standards of performance.
Service expectations are communicated to vendors up front. A thorough inspection checklist outlining the specifications and expectations is given to the service provider. Subsequently, regular inspections of the contractors’ performance are exercised.
LIFE AND FIRE SAFETY PROGRAM
JMP Real Estate Management life and fire safety programs are designed to prevent accidental injury or illness to all personnel working within or visiting a site, whether employees, tenant, or guests. It is JMP Real Estate Management as well a legal requirement, to provide a safe workplace.
We have created a "Best Practices" approach to a formal safety program by standardizing all safety policies and procedures. JMP Real Estate Management life and fire safety program covers the following (at a minimum):
- Emergency numbers posted and verified.
- Safety bulletin board and required posters.
- Housekeeping checklist.
- OSHA record keeping.
- Permits and notifications.
- Lock-out/tag program.
- Medical service planning.
- First Aid Kit/Inspection program.
- Fire protection program.
- Accident investigation.
- Project safety meetings.
- Material safety data sheets.
- Crisis management plan and disaster relief program.
Benefits of the preceding programs include:
- Management is prepared to respond appropriately to a wide range of events.
- Specific security action steps are defined.
- The latest industry techniques are implemented.
- The highest safety standards are in place.
- Unlimited access to leading technical professionals and resources.
- Avoid costs and service interruptions associated with equipment and systems failures and adherence to industry "best practices".
One of the cornerstones of a successful corporate real estate services firm is the ability to provide
timely, accurate and flexible information to clients in a format that is customized to meet their needs. At JMP Real Estate Management we take great pride in our financial services capabilities.
Compliance Program, which includes documentation and monitoring of Internal Controls upon which our clients can reasonably rely for the timeliness, accuracy and completeness of financial data. JMP Real Estate Management will provide a financial reporting package for this assignment that aligns with ownership’s reporting requirements.
Budgeting is one of the most critical functions performed throughout the year. The budget serves a road map for both Ownership and the management team.
Annual budgets are typically zero-based budgets, where the Real Estate Manager and Accountant work as a team, identifying the costs to support the office buildings from the ground up.
JMP Real Estate Management will prepare an annual operating budget that includes income and expense sections and a capital expenditure budget. The budget will contain line-item detail with backup on each revenue, expense and capital account for the property.
JMP Real Estate Management transition approach includes implementation of numerous interrelated activities coordinated to provide a smooth startup of property management operations for the tenants, vendors and ownership.
Our transition will be guided by a Transition Checklist specifically created to facilitate the transition of Industrial properties. To perform an effective transition of the Portfolio, the following steps will be performed including: