The PM is focused on taking care of the property’s physical condition. Whether its communication from Tenant, Vendor, the City (governing party) or other……….the PM will determine the issue and work with on-site management to … determine resolution, communicate timetables and process, and oversee the repair/remodel/other work process. The PM does not travel/visit properties…. all properties have on-site “eyes and ears” staff to work with.
Specific PM tasks can include:
Gather and evaluate bids/proposals from contractors, property vendors and tenants. Proposals can include items like annual snow contract, landscaping, sweeping, contractor proposals for remodeling and repairs. Compare for pricing and make recommendations for moving forward. Maintain vendor information/contract/relationship.
Tenant Communication and Paperwork: Gather tenant paperwork (certificate of insurance (COI), lien waivers, estoppels, any other paperwork tenant needs to execute.
Participate in remodeling/construction on property as needed and process insurance claims on property. After a lease is signed, the PM is the person that makes sure Tenant lease “starts” by being liaison for communication between tenant, construction and accounting until rent starts. After rent starts, financial issues are managed thru accounting staff. PM will provide support on financial/collection issues but for most part is focused on maintenance and caretaking of property. PM will file all property insurance claims and manage the repair/recovery process.
Enter and update property lease terms (new and renewal) in Yardi Voyager system.
Other areas that PM will touch include: code violations and fire inspections, maintain tenant contact list and alarm codes, utility billing, enforce the lease as well as property rules and regulations, approve invoices for payment, evictions, default by tenant and more.
To accomplish PM tasks, PM must be able to (a) read a lease/understand relevant provisions, (b) be able to coordinate/schedule inspections with on-site staff, leasing department and accounting, (c) understand pricing on varied property expenses, (d) follow a project from start to finish on a timely basis.
The PM is a person that is trustworthy, able to follow thru, flexible, dependable, confident, good with both oral and written communication, work well with others, able to multi task and more.
About Coastal Equities
Coastal Equities is a shopping center owner with over 50 centers in 19 states.