Success during the transition period between one management company to another can only be achieved through proactive planning, responsiveness to all issues/concerns and attention to detail. The performance displayed during this key period will set the tone for the future relationship with the building owner and occupants.
It is DRCPM’s objective to have its property managers handle the transition in management responsibilities with superior planning and organization, maintaining efficient property operations while minimizing disruption to both owners and tenants.
The following items indicate key actions and activities you can expect during a DRCPM transition:
Assemble management team
Collect all necessary data/file information
Send all necessary notices to all interested parties
Review and organize records
Abstract leases and enter into accounting system
Establish and define all owner objectives, financial reporting requirements, mortgage info, etc.
Review all service and supply contracts/warranties and act accordingly on rebidding, etc.
Meet all tenants within 7 days
Develop accurate tenant directory
Inspect emergency/life safety systems
Review insurance coverage
Review troubled tenant info and delinquency reports
Give required notice to any service contractors being terminated
Prepare preventative maintenance plan
Inspect all vacancies, in concert with the leasing team, for cleanliness and marketability
WITHIN ONE MONTH
If necessary, provide new or revised budget
If applicable, provide owner with recommendations regarding deferred maintenance items and capital repair requirements