MANAGEMENT OVERVIEW - COMMERCIAL

ADMINISTRATION

· Transfer all required utilities and contracts and assess unexpired warranties.

· Assess all fire and safety issues; ensure that all equipment is approved to code. Create emergency procedures, directions, and check lists, eg: evacuation plans.

· Offer to the Owner the ability to benefit from the discounted insurance premium rates as provided under Aim Real Estate Corporation’s corporate blanket policy.

· Collect all rents by the first of each month, pursue arrears vigorously, and where deemed necessary, utilize all options available for collecting arrears before initiating legal action.

· Ensure that the building HVAC system, generators, elevators, pool, landscaping, snow removal, etc., are maintained to comply with all safety and legal requirements to minimize liability.

· Arrange technical instruction for specific employees to ensure proper operation and maintenance of property’s equipment (ie: boilers, generators, pool and sauna, fitness facilities) together with set up of proper preventative maintenance programs.

· Review all major expenditures and make recommendations for alternative solutions to the Owner for approval along with three price quotations.

· Ensure that on-site checks are made during and after any major expenditures prior to payment being issued.

· Assess and re-negotiate where necessary all contracts covering such services as janitorial, security, waste removal, landscaping, snow removal, elevator and mechanical system maintenance.

· Maintain payroll records, prepare reports and returns required by law, together with remittance to proper authorities of all required deductions.

· Review parking rental arrangements ie: parking lot grids, user allocations, and set up tracking system. Ensure no vehicles are abandoned or look to be abandoned.

· Visit the site a minimum of once per week or more often if necessary.

· Audit Property Taxes through a contract with a local tax audit company.

ACCOUNTING

· Establish two (2) separate trust accounts for each specific property, one general account and one security deposit account. All funds collected are kept in an interest bearing account. Excess funds are monitored on a monthly basis to ensure a high rate of return or paid directly to the Owner, as per Owner’s direction.

Aim Real Estate Corporation
Management Overview
Page 2

· Scrutinize, code, and match invoices with purchase orders, and approve and submit to accounting for timely payment.

· Create tenant rent roll and security deposit summary liability report which is updated every two weeks.

· Track cash flows and bank balances daily.

· Prepare and submit narrative report monthly with detailed financial statements which analyze budget deviations and report all changes. Statements to be forwarded to Owner on or before the 20th of each month following. (Sample accounting package enclosed).