© 2019 by Meek Development Group, Inc.

Asset & property management services

The Meek Companies have been involved in the asset and property management of over 1,200,000 square feet of commercial and mixed-use properties, with approximately 650,000 square feet currently under management.

Our management team works with real estate investors and owners to create and manage customized delivery programs that focus on cost-effective operations, in depth financial reporting and tenant retention. We provide solutions to align our client's short and long term investment objectives with hands-on asset and property management practices. Our approach to asset and property management is to continuously focus on maximizing property value by increasing revenue and minimizing expenses.

Asset Management

Specializing in active management and advisory support for our real estate assets, The Meek Companies have earned a reputation for providing value added skills. Working closely with each client, we identify, develop and implement specific asset management strategies that combine proactive property management, effective and creative clients' investment requirements and objectives.

The Meek Companies provide their clients with in-depth market knowledge that assists in responding to rapidly changing market conditions. Through our network of advisers and consultants in finance, insurance, accounting and law, coupled with our relationships with construction and maintenance contractors, we deliver a team approach to asset and property management.

The Asset Management Services provided through The Meek Companies include:

  • Long term investing strategies and planning

  • Asset preservation and maximum value positioning

  • Property management supervision

  • Oversight and direction of all sales and leasing activities

  • Due diligence

  • Cash flow analysis, pro forma analysis and financial modeling

  • Construction and capital project management

  • Oversee and coordinate required property rezoning efforts

  • Coordinate and oversee real estate property tax petitions and disputes

  • Exit strategies

Commercial Property Management

The Meek Companies provide full service property management which entails full financial reporting, as well as property/facility oversight. Our approach to property management is to develop a customized program that insures cost effective operations, provides for enhanced tenant retention and protects the physical components of the asset.

In addition to full financial reporting, The Meek Companies offers the oversight of all vendors, providing any service to the property, assisting the owners in monitoring budgets, assisting with construction supervision and developing and obtaining bids for all services. We proactively handle all property maintenance requirements by maintaining high standards in our vendor relations.  As part of our delivery of services, we provide a 24/7 response to emergencies and tenant maintenance needs or problems.

The Meek Companies also provides a written, monthly inspection report to all property owners detailing the current conditions of the property, common areas, building systems, capital items and other tenant and property issues.

The Property Management Services provided through The Meek Companies includes:

  • Property and building operations and maintenance

  • Property accounting and financial reporting

  • Lease administration

  • Service contract management

  • Operations management

  • Capital budget forecasting

  • Construction management

  • Collection of rents

  • Supervision of suppliers

  • Tenant communication and resolution of tenant concerns

  • Invoice processing

  • Property tax review

  • Insurance premium review

 

 

Primarily for clients in owner-occupied buildings, The Meek Companies, with over 25 years of extensive facility and property management experience,  will tailor a facility management plan specifically for your buildings.  The Meek Companies will identify  your facilities needs and will coordinate the bidding, scheduling and managing of all aspects of facility operations. From janitorial to disaster response, our facility management team frees your staff to focus on your business rather than worrying about  the oversight of your building systems and maintenance. 

The Facility Management Services provided through The Meek Companies includes:

Facility Management

  • Facilities management

  • Regular building / facility inspections

  • Tenant improvement  coordination

  • Safety Data Sheet management

  • Preventative maintenance

  • Vendor and contract management

  • Vendor bidding , COI and RFP management

  • Project Management for Capital Repairs/Improvements

  • Disaster planning and preparation

  • Real estate tax petitioning

Financial Reporting

The Meek Companies utilizes QuickBooks accounting software to effectively report the financial status of each property. A separate, independent bank or lock-box account is established for each owner/investor for their property. The specialized reporting provides each owner/investor with records of activity for any given period that are accurate and reliable.

The Meek Companies will furnish detailed operating statements for the property, which will identify all rental and other income, as well as expenses incurred with respect to the property. These reports are provided either monthly or quarterly, as required by the owner. A detailed general ledger report is included which details all monthly or quarterly transactions. A detailed accounts payable report is also provided to ensure maximum efficiency in the payment of invoices, receiving discounts and providing maximum cash flow for your property.

On an annual basis, an owner will be provided with year end financial statements for use in preparing tax reports.  As part of the management fee, The Meek companies provides accounting control and supervision by an independent bookkeeper, who reviews the financial reporting process, allowing for greater flexibility in the set up of reports for financial evaluation and decision making.

Also on an annual basis, The Meek Companies provides property budgets together with a full CAM Reconciliation for each property collecting income as reimbursement for CAM expenses. This entails a detailed report generated for each property with the line item expenses for all items affecting the maintenance of the property, building, common areas, real estate taxes and insurance. Each tenant receives a report of the compilation and accompanying collection or credit for their prorate share, as defined in their lease agreement.

Lease Administration

Lease administration is initiated as one of the first steps in setting up a new property in our system. In its simplest terms, it is detailing of the tenant obligations as outlined in the underlying lease agreement together with an analysis of the tenant's financial obligations as it pertains to base rent, CAM, real estate taxes, insurance, percentage rent, and other charges.

Each lease is carefully reviewed and entered into our commercial property management system. Each tenant file is then individually created with a fully detailed, printed abstract in each file cover. This allows not only accounting, but property managers as well, to easily access and "assess" the requirements of each lease as it pertains to each specific tenant.

Our in-depth lease administration allows our accounting staff and property manager to be fully knowledgeable regarding each individual tenant's responsibilities as to maintenance requests, escalations, lease terminations, option provisions, monetary obligations as to late fees, additional assessments, etc. This becomes very important in knowing how to communicate and assist tenants in understanding their level of responsibility as governed by their lease agreement. Each and every lease is administered independently.