D — July 12 - 25, 2013 — Property Management — Mid Atlantic Real Estate Journal
www.marejournal.com
P roperty M anagement
By Jonathan Glick, Sheldon Gross Realty, Inc. Successful property management begins with excellent people management
A
good property man- ager is able to under- stand current market
would appear. This is when people skills are put to the test. Owners need to understand the urgency of keeping their ten- ants and to keep their tenant’s feeling that their landlord is negotiating reasonably. This concept has made negotiating new terms to re-let or modify existing leases a very important task for the property man- ager. With approximately 1.3 bil- lion s/f of warehouse, flex, office and retail space existing in Northern & Central NJ many owners turn to professional
managers to handle the many tasks needed to keep their properties operating well and to save money. Property managers handle the day to day financial reporting, accounting, lease administration, rent collection, maintenance, security and risk management services needed to maintain a property. Property managers must stay current with the next generation of soft- ware and hardware to perform these tasks more efficiently. Another of the property man- ager’s most important tasks is visibility. Property managers
need to inspect each property on a monthly basis and, while there, interact with the tenants to see if there are any concerns which should be addressed. When tenants feel that the ownership is taking an active interest in the property and the tenant’s needs, it gives them a positive view when they are considering renewing or extend- ing a lease. Establishing a good working relationship with the tenants is key in working with them to renegotiate a lease. From the owner’s perspec- tive, these monthly inspections
allow the property manager to check that the tenant is living up to the terms of their lease and that the building is being maintained in the proper condi- tion. This is extremely impor- tant in the case of net-leased buildings where the tenant may be responsible for maintaining HVAC systems and making necessary repairs. In addition to the landlord and tenant interaction, it is necessary to be very successful working with building vendors to make adjustments in their contracts. In this economy a major key to profitability is producing cost efficiencies. Annual bidding of all contracts enables the property manager to maintain a high quality of services be it landscaping, snowplowing, insurances and all the neces- sary repairs and maintenance needed for keeping a property an efficient place to conduct business, at the same time keeping all costs low. One of the biggest concerns affecting cost containment is energy. Technology is playing a major role in property manage- ment and there are an increas- ing number of new tools and strategies available to become more energy efficient. From controlling lighting and heat to solar and other alternative energy options, property man- agers are working with new suppliers and technologies to increase cost savings in this area. Having a motivated property management team willing to invest time in learning new management techniques is essential in maintaining the highest standards and produce successful results for both own- ers and clients. All parties s appreciate the ability to have immediate access to informa- tion and reporting. The per- sonal service afforded to clients through long-term relation- ships gives them the security to know that the manager is listening to their expectations and taking action to provide them with the highest level of service. Sheldon Gross Realty, a full service real estate provider of traditional commercial broker- age and property management services, has recently celebrat- ed the 27th year of their com- mercial property management division. Jonathan Glick is execu- tive vice president at Shel- don Gross Realty. n
c o n d i t i o n s and the mar- ket trends. Ou r p r o p - erty manage- ment t eam is focused on tenant reten- tion. With the condition of
Jonathan Glick
the economy over the past few years, if a property were to go vacant, an owner would not be sure when the next tenant
Bigger isn’t always better.
We Have The Perfect Location For Your Business
You don’t need a large brokerage firm. You need a firm which understands your business and real estate needs and can give you personal service and attention.
Experience – Knowledge – Success Since 1962
SHELDON GROSS REALTY, INC. REALTORS ● Corporate Real Estate Services 80 Main Street, West Orange, NJ 07052 Tel.#973-325-6200 - Fax.#973-325-9090 E-mail: sgross@sheldongrossrealty.com
FAIRFIELD – FOR LEASE OFFICE UNITS AVAILABLE – HIGHWAY VISIBILITY THE RIGHT SPACE AT THE RIGHT PRICE 3,500 TO 12,000+/- square feet available on the 1 st Floor. 3,900+/- square feet available on the 2 nd Floor. Flexible lease terms.
FAIRFIELD – FOR LEASE
WALL TOWNSHIP - FOR LEASE OFFICE/FLEX BUILDING Units available from 5,000 to 15,000 square feet. Many upgrades including generator, lounge, break room. Distinctive image in a corporate park setting.
WAREHOUSE/DISTRIBUTION SPACE 87,000+/- square feet with 3,500 square feet of office. Will Divide. Tailgate loading with 21-24 foot clear ceilings and abundant parking.
Excellent location. Business park area.
FAIRFIELD - FOR LEASE
WALL TOWNSHIP – FOR SALE OR LEASE
WAREHOUSE – MANUFACTURING – OFFICE EXCELLENT HIGHWAY VISIBILITY 32,000+/- square foot free-standing building. Industrial park setting. Excellent location with immediate access to Route 46, and
OFFICE BIULDING
6,800+/- Square Foot free-standing building.
Professional office space. Perfect for a small company who wants their own building.
Great visibility location on Route 34.
close to Routes 80 and 280
The information contained herein has been obtained from sources considered reliable, but no guarantee of its accuracy is made by this company. Subject to errors, omissions or withdrawal without prior notice. For information on these or other New Jersey properties please contact Sheldon Gross Realty, Inc. at 973-325-6200 or see our website at www.sheldongrossrealty.com
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