Residential, Retail & Commercial/Income Producing Properties
Budgets:
H&L Realty & Management Company prides itself on its expertise and capabilities in developing, implementing and monitoring Operating and Capital budgets for each property entrusted to H&L for property management. These budgets are designed to indicate what it should cost to operate the property and are designed to be realistic in order to control spending. The budget process begins with gathering of information for use in projecting future income and expenses, i.e. rent surveys, utility projections, outside services, payroll, taxes, insurance, maintenance and most importantly, owner recommendations.
A line item analysis is completed to verify inputted data and when completed, a draft of the budget proposal is completed and submitted to the Senior Property Manager and/or the President for review. Upon approval by the reviewing authority, the budget is submitted to the owner for final approval.
After budget approval, with any owner recommendations, the budget is then written, proofed and entered into our computer system. The final budget is implemented by the property manager in conjunction with the appropriate on-site staff. Utilizing the budget as a tool, the property manager strives to maximize property value and cash flow distributions to the property owner.
Property Control:
H&L Property Managers operate on a “hands on” policy. They oversee the property through scheduled and unscheduled on-site inspections. These inspections place the Property Manager on the property for the purpose of problem prevention rather than problem correction. Site visits are frequent with an inspection report completed during each visit. An H&L policy is that an officer of the company reviews these reports to ascertain any developing trends. The Property manager is also immediately accessible to alleviate and correct any emergency situation.
Property Management:
H&L employs Property Managers that are experienced in their chosen profession and have earned the Institute of Real Estate Management designation of Accredited Residential Manager (ARM) or Certified Property Manager (CPM). Each Property Manager has an assistant who performs duties relating to daily operation of the property. The Property Manager is directly responsible to the Senior Property Manager and the Corporate President and is accountable to the property owner. A job description along with specific H&L policies and procedures are provided to each manager to use as a standard guideline in their duties. Additionally, H&L stresses continuing education and the company helps defray the costs of management seminars and classes as an education incentive to expand their knowledge and maintain their proficiency.
Accounting:
The accounting department is responsible for maintaining the financial records of residents, tenant firms, tenants and the properties. This includes, but is not limited to collecting rents, preparation of delinquent notices, prompt payment of invoiced expenses, reconciliation of bank statements and preparation of all property reports. To maximize the department’s proficiency, H&L utilizes the modern networking of 486 and 586 personal computer systems. Computer operators are skilled and trained personnel. H&L is one of the few management companies to have a computer programmer on staff.
Sales and Leasing Staff:
Our sales and leasing staff realize that the investment guidelines of the past no longer apply for present and future investments. A realistic economic value must be computed; based on accurate income and expense data, local expansion plans, property supply and demand plus the present and future needs of the community. An investor, whether buying or selling, must be provided with the data necessary to make a knowledgeable decision pertaining to the desirability of a real estate transaction.
Leasing is the most vital factor in the success of an investment property. Tenant procurement and retention produces property income; and in the very competitive market place, an investor must be kept aware of rental rates, inducements and leasing terms being offered.
Our staff of professional, experienced real estate agents are fully capable in the sales and leasing markets. They are knowledgeable in developing marketing plans, active in market research and most importantly, know how to evaluate and close sales and lease agreements.