Marketing and Leasing When marketing rental property for lease, the landlord has the advantage of targeting potential lease prospects in advance. Being selective in leasing rental property is a key factor in maintaining a successful building. Through the use of a market study, project signage, target mailings, local advertising and tenant referrals, we can gain optimal exposure for a property to ensure a successful marketing program.

Maintenance Supervision The utmost in care must be used in the hiring, training, evaluating and supervising all contractors involved in the maintenance of your property. Only contractors who are fully insured and have a successful track record will be given consideration. Inferior work will never be tolerated. The goal of the maintenance program is to maintain, protect and enhance the aesthetic qualities and the mechanical functions of the property so as to ensure the highest rent and occupancy level possible. Inspections Inspections will be made regularly by the supervising property manager to verify that all maintenance work is satisfactory. These inspections will include communications with the tenants for their input on maintaining the integrity of the business environment. The results of these inspections will be communicated to the owners. Accounts Payable Each invoice will be carefully reviewed before payment. This process insures that only correct amounts for work completed as ordered receives approval. Extraordinary items of a significant amount require the owner's prior approval as per the management agreement. All discounts received by the management firm will be passed on to the building owners. Collections A successful collections program requires that the property manager condition the tenants to pay their rent on time. The property owner must not ever be deemed a "partner" in the tenant's business and one who allows and accepts late payment. The late charge provisions of the lease must be enforced. Reporting The reports which are recommended for use are as follows: I ) An operating statement and a year to date profit and loss statement which allows the owners to see variances in operating income and expense categories on a month to month basis, 2) A tenant rent roll which shows the current lease terms and the current billing status on a tenant by tenant basis, 3) A disbursement journal which clearly shows each check written against the property's trust account and explains what the check was for. The reports will be distributed to the owners by the l5th day of the following month. Tenant Relations An effort to be responsive and fair as a property manager is essential to the investment's success. Property management is a service not only to the owners, but to the tenants as well. We will strive to have all tenants as satisfied with their living and working environment as possible. Insurance The cost and protection provided of all insurance policies will be carefully reviewed by the property manager. The ownership will be further protected by having every contractor carefully screened to ensure that they carry adequate workers compensation and liability insurance. Energy Management The efficient utilization of the energy systems of the building will be carefully reviewed on a regular basis to verify that any modern cost saving technique with a reasonable payback period is utilized. Security In today's society it is essential that personal belongings and real property be secured against crime and natural disaster to the greatest extent possible. It is the property management company's responsibility to propose and implement policy and procedure to effect a safe living and working environment. Forms Review The investment value will also be protected by implementation of prudent forms and documents used in the management of the property. Lease clauses, inspection reports, credit checks and other forms which have been successful will be used in the management program. A working relationship with attorneys, insurance specialists, and management organizations such as the Institute of Real Estate Management (IREM) lend important input into the constant evaluation of successful management documentation. Bottom Line Results The management program outlined above has shown time and again bottom line results. The most important element of the management program is the integrity of the people involved in the property management process. Results are obtained only by the merging of attention to detail and product.

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© Grand Manor Mangement, Inc. 2016

Steven M. Karas (DRE Broker Lic.# 01155704)

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