Real estate management is both art and science, maximizing the value of your asset through careful stewardship of its physical space, tenant relationships and overall reputation in the marketplace. The Ashby Real Estate Group (AREG) property managers and building professionals are business people first, working in partnership with you to achieve your ownership goals.
A buildings physical upkeep is very important and requires ongoing attention, but at AREG we find that there are three components to successful property management – Physical Requirements, Tenant Relationships, and Property Branding.
Attending to a building’s physical requirements requires the coordination of numerous vendors, from landscaping and janitorial to systems engineering and renovations. Building owners can need as many as 37 separate vendors depending on the size and scope of property. Our 24-hour emergency maintenance program is designed to take immediate action on urgent problems and coordinate responses to give both landlords and tenants piece of mind. Our carefully administered and followed preventative maintenance programs are just as important to help eliminate or at least reduce emergency maintenance responses.
Through our plans and programs, along with analysis of common tenant requests for service we can advise owners on whether repair or replacement will best cure a recurring issue, and how to do so in the most cost-effective manner while minimizing disruption to tenants.
The overall value of a property or real estate investment is not always calculated from a profit and loss statement. AREG takes a universal methodology to real estate management, understanding that often a building’s paramount assets are the tenants. We use our best programs and procedures to enrich the owner’s relationships with tenants and increase partnership and cooperation among adjacent tenants.
In addition to working proactively to manage lease expirations and renewals, we support future leasing efforts by routinely soliciting tenant feedback and taking action. This open dialog and emphasis on face-to-face casual interaction improves word-of-mouth discussions among tenants and can help property marketing efforts.
AREG understands that a building’s reputation has a substantial impact on the brand of each tenant’s business, so we do your utmost to enrich that brand in the marketplace. This is accomplished through market knowledge of other competing properties, incomparable upkeep for common areas, and a drive to distinguish the property’s unique features and services.
Tenant turnover reduces operating income quickly, not only through the loss in monthly rental fees, but also through the costs associated in re-renting, from signage to tenant improvements to brokerage fees. We proactively identify tenants whose space no longer suits their needs—either through overcrowding or those with shadow space—and work with owners to develop a strategy that supports the tenant’s business needs while preserving the owner’s income stream.
Often our best lead source for new tenants in one of our managed properties are leads from our existing tenants. Our reputation of quality service and performance makes it easy for our current tenants to recommend us as a property management company and Landlord representative.