Asset and Property Management
Developac, Inc. has been actively providing Asset and Property Management services since 1974. We are proud of our commitment to quality service to clients over this extended period of time and consistently achieving high ratings for excellence in Asset and Property Management from third party evaluations. We help protect your asset values by providing a complete menu of facility and property management services for retail, industrial, residential and office properties. This includes the coordination of maintenance, construction, vendor functions, tenant retention, leasing, creating marketing material to positively position the property in the marketplace and analyzing revenue and expense budgets to provide consistent return on investment.
As your Exclusive Agent, our role is to provide complete leasing and management services for the Landlord/Owner. In this capacity, we approach each assignment in the same manner as if we were the actual property owner. We must address the investment goals of the property owner, act in the same manner and responsibility as the owner and provide a stable income stream for the property. In order to achieve this goal, we bring to the project an experienced team of professionals with comprehensive knowledge of the marketplace, construction, and tenant relations.
- Ownership Objectives
Initial project involvement begins with a clear understanding of the ownership's investment goals. We analyze the property's history, present financing status, and the desires for immediate income versus long term growth. With ownership's objectives in mind, we tailor the marketing program and the leasing program to meet these goals.
- Understanding the Property
As agents, we must know your property in great detail. We analyze the strengths and weaknesses of the property in determining the most effective leasing and management plan. This process includes extensive inspection of the property, understanding the plans and specifications, knowing the existing tenancy and past history, implementation of a detailed safety plan, and realistically evaluating the building's position in the marketplace.
- Market Knowledge
After evaluating the property, it is important to compare the information gathered with overall market characteristics. We analyze the competition, and make a decision on how best to position the property.
- Leasing Plan
We combine the property and market analysis to create a detailed leasing plan, stating the goals for the property and outlining a lease-up program. Included is a determination of target tenant groups and a plan to reach those tenants in a cost efficient and effective manner.
- Economic Goals
Detailed discussions and analysis are held with the owner to determine rental rates, and define other rental conditions such as tenant improvement allowances and rental inducements. Through this process, guidelines are established which we can independently act upon in preliminary negotiations with tenants.
- Co-Broker Activities
It is the marketing team's responsibility to establish credible co-brokerage relationships with other brokers. This is done through responsive assistance to the broker's clients, high ethical standards in protecting the broker's client relationship, and professional assistance in completing transactions.
- Lease Negotiations
By establishing a close working relationship with the ownership, parameters are established for leasing, which include economics and lease terms, allowances and improvements, effective space planning, and other considerations reflecting the highest returns for the property.
- Maximizing Returns
Our goal is to maximize income through the procurement of strong tenants, to minimize costs of tenant improvements, and to provide a well-planned lease renewal and expansion profile, efficient property operations and strong tenant relations.
- Property Management Relations
The property leasing team works in tandem with the building property management. This process includes regular meetings and briefings with property managers, consulting with property managers on transactions as they occur, involving property managers in space planning and construction discussions, and working with property managers to achieve the long term goals of the ownership.
- Landlord Relationships
As part of the ongoing leasing and management process it is essential to be in constant contact with the owner. It is the agent's responsibility to consult with the owner when planning and structuring the leasing and management program. Ongoing meetings and information flow between the brokerage and management teams and the ownership is essential. The agents have the responsibility to inform the owners not only of transactions that are taking place, but also informing the ownership of the reasons for transactions that fail. In addition, it is the leasing agent's responsibility to constantly keep the ownership updated on market conditions, and other activity in competing projects. As a result, ownership will be prepared to make effective decisions concerning the leasing and management of the building.