What differentiates our approach to property management is our pledge to respect all properties as if they were part of our portfolio. Our goal is to provide an exciting shopping experience for customers, while maximizing returns for our partners. A unique advantage of our service is our separate facility department, dedicated solely to on-site maintenance and improvements, allowing the Property Manager to remain focused on tenant related matters.
A tiered system of responsibilities allows our Property Managers to devote much of their time to creative thinking about the asset as a whole. Our team provides a quick-response service to the tenants via e-mail, cellular telephones, pagers, and a 24-hour answering service that provides tenants with access to our management staff at all times. Our Property Services Manager can identify and often resolve a maintenance crisis or minor incident at a fraction of the cost of outside vendors. Billed back to projects on a strict time-and-materials basis, our system is both time-efficient and cost-effective.
Each year our Executive Team creates a comprehensive Annual Report and Business Plan; which includes a thorough review of the year's activity, goals for the coming year, projected operating and capital budget, cash flow, and leasing/marketing plan. Our management plan becomes an evolving handbook for the coming year.
Sage Timberline Development, Accounting and Property Management Software, along with a proprietary CTI system is used for a third-party REIT client. We are familiar with lock-box collections, web-portal budget systems and use Excel and Argus for budget and forecasting. Our accounting programs are fully integrated with property management functions, creating the ability for our managers to respond to any request within minutes.
Coordination with the listing broker helps secure satisfactory lease agreements. Regular meetings with our clients enable the manager to represent the owner in negotiations if applicable. Our contracts typically call for renewals to be handled by Property Management, on a reduced commission basis. The long-standing relationships managers have with their tenants often smooth the way for renewals.
As a developer with over 10 million square feet of retail, industrial, office and residential space built, Sudberry Properties has extensive experience in budgeting and coordinating tenant improvements. Our Property Services Manager monitors the project, reviews plans, arranges the Notice of Non-Responsibility, inspects work in progress, follows up on the punch-list, monitors the expenses and obtains the Certificate of Occupancy. Our resources include long-standing relationships with quality tenant improvement contractors, space planners, architects, and structural engineers who share our goal of working with the tenant to ensure a smooth improvement construction process and scheduled completion.
MARKETING/PROMOTIONS & COMMUNITY RELATIONS
Sudberry Properties can coordinate advertising and supervise promotional activities at retail centers where the leases specify a merchant's association or promotional fund. We use an outside consultant who prepares annual marketing plans and budgets, and presents them at merchant's meetings for comments and approval. We passionately believe shopping centers are an integral component of any community. Our Managers actively participate in local events, and we take pride in maintaining a trusting, friendly dialogue with community leaders in both the public and private sectors.
RISK MANAGEMENT PROGRAM
Sudberry Properties is conscientious about risk management and we maintain appropriate tenant and vendor insurance for both long-term and short-term projects.