JMP Real Estate Management Ways to Increase Property Value
Vacancy = Appeal
Careful review of annual assessment notices
- Property Tax Appeals
Improve Net Operating Income (NOI)
Increase Revenue/Decrease Expenses
Careful Budget Analysis and Implementation
Other Income Opportunities: 2-5% potential income increase!
- Tenant Services
- Bad Debt Collections/Late fees/NSF fees
- Parking Income
How each lease is written can seriously affect the Landlord's ability to pass-on operating expenses. Properly written leases pass-through the management fee!
Building vendor relationships through strong purchasing power
As energy prices rise, this issue becomes increasingly more important.
Capital Expense Recapturing
Capital costs should result in savings elsewhere to be reclaimed
Managing Rooftops (Telecommunications)
Rooftops and storage areas have become the "unseen" tenants
Ground leases for drive-through espresso stands or other venders
Real Estate Knowledge
Know the competition…other properties…to compete effectively
Leasing and Marketing
Effective marketing and lease negotiation reduces vacancy
Improve Tenant Quality, Mix and Retention
It is more costly to find new tenants than retain old ones. However, it is even more costly to retain the bad tenants!
Bonus Item…Provide Quality Maintenance, Repair and Landscaping
Good care and preventative maintenance reduces capital expenditures while reflecting positively on the property.