Retail Property Management
Property Management For Retail Properties
Retail Property Management
Once our team in in place we benchmark the retail property’s operating expenses to other comparable retail centers in the Milwaukee market and beyond, so we can determine where potential cost savings exist and then we can take action.
Our partners and clients receive monthly financial and operational reports. Operational accountability, effective communication, first-in-class customer service, and frequent tenant interaction are key in exceeding retail property management expectations in the Milwaukee Market and beyond. If you own a retail location in the Milwaukee Market and are searching for a competitive edge we are here to help.
Property Management Services
Ogden & Company can approve for payment or approve and make disbursements for normal recurring expenses as provided in the site budget, which shall be approved in advance or as directed by a property’s owner(s). Utilizing Yardi Voyager, we provide clear, accurate, valuable and real time information to the management staff and owner(s). Financial statements are prepared, maintained, reviewed and distributed on a monthly basis within 20 working days after the close of the month. These statements are prepared on an accrual basis indicating receipts and disbursements, showing income or expense funding, cash on hand, reserve accounts, if applicable, and current liabilities. These reports are accompanied by comparative reports of monthly financials to a pre-approved budget, and delinquent tenant account status reports, if applicable. At year-end, these same reports shall be prepared detailing year-end balances.
Ogden & Company will prepare and submit for approval a preliminary annual budget for your property for the upcoming year. Additionally, long-term budgets indicating upcoming capital expenditures can be created. These budgets can be prepared in any format desired. Leadership at Ogden & Company strongly believes in the budgeting process both in terms of understanding the goals and objectives of the owner and providing a clear and concise “road map” for the daily, monthly, and annual operations of the property. Readable statements, provided on a monthly basis, are created through Yardi Voyager Property Management and ACS Software. Capital investment needs are analyzed by Ogden & Company staff, recommended as necessary and agreed to in the budgeting process. Non-budgetary and capital expenditures will be subject to prior consent.
Customer satisfaction relies on effective communication. Our management teams are fully engrossed in the relationship that exists with the client as it pertains to the complexities and decisions that apply to their property. This interactive involvement results in a level of intuitiveness for Ogden property managers. Our property managers are trained to actively listen to all with whom they interact to better understand client and tenant needs and the reaction to the services provided. The first line of communication exists between the property owner or client and the property manager who is trained to be sensitive to the needs of his or her clients. Customer satisfaction is the most important key to our business.
The Real Estate Management Division of Ogden & Company has office hours 8:30 am to 5:00 pm Monday through Friday. Staff is on call 24 hours a day, seven days a week, on an emergency basis. Ogden property management staff is equipped with cell phones, pagers, voicemail, 24-hour answering servicing and remote computer access.
When so directed, Ogden & Company will supervise the administration of the property’s insurance policies.
Ogden & Company will administer and assure compliance with leases of tenants, both in residential and commercial facilities. Utilizing Yardi Voyager Property Management software, Ogden & Company will provide rent collection and tenant services to the property. A complete and accurate record of the account status of each tenant is maintained indicating charges, payments, late fees, legal fees and damage assessments, if applicable. A monthly Tenant Status Report is provided with the monthly financial statements. Ogden & Company will communicate monthly delinquencies directly with tenants and issue late fees to all delinquent accounts. Every effort will be made to collect delinquent accounts, including sending of notices and letters, telephone calls, and if possible, personal contact. In the event such efforts fail, the account will be referred to the proper collection agency or an attorney for the legal eviction process.
Ogden & Company will maintain all records of the affairs of the property, including but not limited to, correspondence, contracts and financial records. These records shall be properly stored in an organized manner for immediate retrieval at any time. Documents are available for review any time during normal business hours.
Negotiation on and competition for all service contracts insure top quality services and materials at the most favorable cost. All operational services to your property will be performed by independent contractors with the exception of on-site staff where applicable. For outside-contracted services, at the inception of each contract Ogden & Company undertakes, we shall review and analyze all existing contracts, including landscaping, snow removal, refuse removal/recycling, insurance providers, and janitorial services, among others. Applicable contracts are open for bid with both existing contractors and additional outside service providers if warranted, always with an understanding of the obligation to honor current service contacts.
Utilizing professional management services will generate cost savings in the overall operation of the property through competitive bidding on contracted services and periodic maintenance, bulk purchasing of supplies and services, preventative maintenance, proactive inspections and budgeting. Additional areas, which may not be as easily recognizable but which may procreate savings include insurance premium bidding and negotiation, utility audits and retrofitting for energy savings.
Ogden & Company supervises all contractors providing routine and periodic services for the property requiring quality workmanship and services on a timely basis. This includes supervision of the maintenance of mechanical systems within the property such as HVAC, electrical, plumbing, and others to maximize equipment life and provide complete satisfaction and safety for the employees of the property. Activities of contractors will be supervised and payments for the same will be distributed only following an inspection of the project by the Property Manager.
In addition to its core businesses, our Multi-Family and Commercial Real Estate divisions specialize in receiverships — working with lending companies to protect their investments from further loss at the time of a foreclosure. Our focus is to maintain and improve conditions of properties going through foreclosures. Upon appointment, Ogden & Company will do a full inspection of the property, draw up a budget and immediately address any life/safety issues and code violations. Ogden & Company will collect rents, hire vendors for maintenance, market and lease the property, and assist in the sale. If needed, prior to appointment of receiver, we will make court appearances and work with the lender to make sure insurance is current and in place. Services also included:
- Occupancy verification
- Tenant compliance
- Property preservation
- Client communications
- Leasing services/marketing
- Broker price opinions
- Sales coordination
Ogden & Company can facilitate the leasing of residential apartment or townhouse units, negotiate leases and prepare lease documents.
Over many years of business, Ogden & Company has established strong relationships with a wide variety of vendors and service providers. Our large portfolio of properties makes it possible for us to purchase services in bulk, effectively reducing costs.
Stocked Inventory Control
A specific area of our management program, which can be implemented in the management contract, is a complete inventory of all paper products, replacement light fixtures, maintenance supplies and equipment of a property. These supplies can be entered into a computerized inventory control program that will reflect the use of all stock items by cleaning and/or maintenance personnel and provide advance notice of replenishment needs. In addition, by utilizing this service through your Property Manager, large savings can result from purchasing in bulk and comparing price on large quantities of supplies.
The extensive experience held by Ogden & Company staff and management assures competent analysis of all physical areas at the property and the proper preventative maintenance and repair to all HVAC, electrical, plumbing, roofing, and additional equipment. Ogden property management and maintenance staff understands the need for cleanliness and aesthetic appeal as it relates to the satisfaction and safety of customers, clients, and personnel. Utilizing manufacturer specifications, routine inspection checklists will be customized and completed during regular inspections of each site. Preventative maintenance will be determined, scheduled in advance and completed on a routine basis. Periodic evaluations will be conducted of all physical areas to critique cleanliness, state of repairs, aesthetic appeal and the costs associated with their preservation. Reports will be compiled on HVAC and mechanical equipment, including electrical and plumbing systems so that Ogden might offer suggestions for consideration and incorporating into operating budgets. Recorded documentation indicating regular testing of emergency fire alarms, sprinkler systems and other building safety equipment will be maintained and provided to insurance carriers, thereby reducing annual premiums. Life safety procedures will be developed by way of evacuation plans to be distributed and/or mounted for employee and customer safety. Issues such as ADA, asbestos control, lead abatement, environmental, liability and life safety will be observed for the property by the appropriate professional under Ogden & Company supervision. Ogden & Company staff and management believes in maintaining our position at the leading edge of the maintenance and management trade through continuing education as it applies to our specific accounts. This education will keep your property manager and service technicians abreast of changing legislation and advancing technologies to enhance the property.
Very important to tenants and owners is the transition to a new management company. Ogden & Company is dedicated to making this a smooth transition. Complete audits of financial data, lease information, service contracts and building information will be reviewed, tenants and vendors personally notified, and complete property inspections conducted. Tours of the building will occur with all applicable personnel and emergency response teams. During this time, close communications will be maintained with owners to fully understand and verify goals and objectives.
Discover the Ogden Advantage
Full Service Property Management
Property Management, Commercial Management, New Development Consulting, Property Accounting Services Condominium/HOA Management Real Estate Owned (REO) l Bank Owned, Receiverships & Foreclosure Properties, Affordable Housing, Tax Credit l Affordable Housing Compliance
Apartment Turnover Service, Appliance Maintenance, Kitchen and Bath Renovation, Carpet Cleaning, Flooring Repair & Replacement, Commercial Janitorial Services, Door and Window Installation, Electrical, General Maintenance, HVAC, Interior/Exterior Painting, Pest Control, Plumbing, REAC Inspections, Dryer Vent Cleaning, Gutter Cleaning, Property Inspections
Groundskeeping, Snow Removal, Landscape Design
Commerial Property Brokerage, Commercial Investments, Leasing Services
Residential Sales Agency, Buyer Agency, Home Sale Inspections, Marketing Services, Real Estate Consulting
- Affordable Housing Property Management
- Business Development
- Commercial Property Management Services
- Condominium/HOA Management
- Emergency Response Services
- Facilities Management
- Financial Reporting / Yardi
- Lease Review & Administration
- Marketing Services
- New Development Consulting
- Property Accounting Services
- Property Management
- Property Planning & Forecasting
- Real Estate Owned (REO) – Bank Owned – Receiverships & Foreclosures
- Resident Leasing & Screening
- Tax Credit – Affordable Housing Compliance
- Apartment Turnover Service
- Appliance Maintenance
- Brush Roll Spray
- Carpet Cleaning And Repair
- Carpet Re-stretching
- Commercial Janitorial Services
- Door & Window Installation
- Dryer Vent Cleaning
- Exterminating Services
- Facilities Management
- Flooring Repair & Replacement
- Full Property Maintenance
- General Maintenance
- Gutter Cleaning
- Interior & Exterior Painting
- Kitchen & Bath Renovation
- Mechanical System Management
- Office Cleaning
- Pest Control
- Preventative Maintenance Programs
- Property Inspections
- REAC Inspections
- Residential Painting
- Sand Texturing
- Site Inspection & Compliance
- Wall Repair
- Wallpaper Removal
- Wood Refinishing