Property Management Services

Management Philosophy

Real Estate Management Services

Transition Management

• Implement a quick and efficient take-over management program
• Notify tenants and vendors of change in management and any new procedures
• Review all existing leases, contracts and procedures and make recommendations as to where improvements can be made

Project Assessment and Operations

• Perform initial inspection of property and make recommendations to improve the appearance of the project. Thereafter, perform and document routine inspections
• Specify all repair and service work to be performed. Review all vendors and vendor contracts. Make changes where necessary.
• Establish preventative maintenance programs and procedures
• Implement work order request system

Financial Reporting

• Prepare comprehensive operating budget
• Collect all rents and other charges
• Review, approve and pay all bills
• Submit accurate and detailed monthly operating reports

Tenant Relations

• Establish and/or improve tenant relations
• Coordinate tenant move-in and move-out of the center
• Supervise tenant improvements

Marketing and Leasing

• Analyze existing market conditions and create business plan
• Identify potential replacement tenants
• Negotiate lease terms
• Implement cooperative advertising programs with tenants

Insurance and Government Regulations

• Ensure that all tenant, vendor and property insurance is in compliance
• Monitor government regulations to ensure that the property is in compliance with all applicable codes

Owner Communication

• Maintain regular management communication with owner via telephone, meetings and reports
• Advise owner immediately of any significant changes in business plan

Income Maximization

• Identify additional income producing opportunities
• Reduce operating costs by implementing energy efficient systems
• Analyze hold vs. sell strategy

ADDITIONAL SERVICES

The following are additional areas in which Doerken Properties, Inc. or its subsidiary companies can provide added value:

Construction Management

• Coordinate tenant and landlord improvements
• Manage project rehabilitation/remodel
• Supervise architects, engineers and contractors

Brokerage

• Use existing network to identify quality tenants
• Utilize brokers to achieve maximum market exposure
• Create value by remerchandising of existing tenant mix

Development

• Analyze feasibility of development projects
• Create financing model for long term investment and make recommendation
• Obtain entitlements on new construction
• Negotiate development agreements
• Follow project through City reviews
• Completely bid and negotiate constructions contracts
• Manage construction process through completion
  

  Top

Management Philosophy

Given the daily changes in today's real estate market, successful project ownership hinges on professional management. In order to maximize value and successfully compete within the local and national marketplace, successful owners recognize the need to maximize the value of their assets with sophisticated asset and property management.

In addition to meeting the day-to-day operational requirements of a successful shopping center, asset managers must be capable of advising owners on all facets of value enhancement including leasing, construction, marketing, assessment of changing market conditions, and legal and governmental regulations. Additionally, asset managers must think and respond to day-to-day events through a retailer's eyes in order to provide tenants with advice and suggestions on maximizing their own businesses. With all of these tasks so critical, the careful selection of an asset manager becomes one of the most critical decisions to be made by a real estate owner.

Doerken Properties, Inc. (DPI), through its property management subsidiary, has been providing these services for over 20 years. DPI has brought together a team of highly qualified and experienced professionals who have demonstrated a successful track record in all aspects of real estate management. Projects currently under management include the following shopping centers:

In past years, DPI has only managed real estate where it retained some ownership interest. However, we have found that the management formula that we have provided for our partners and ourselves over the past 20 years is exactly what is in demand in today's challenging marketplace. It is for this reason that we now provide fee management as a part of our services.

DPI's management style allows for flexibility in customizing its procedures to adapt to individual owner's needs. The company's business plan includes a conscious decision to remain committed to daily "hands-on" management by key personnel, thereby streamlining responses and implementation. Our state of the art computerized financial and accounting systems allow us to offer sophisticated reporting which can be adapted to the needs of each distinct property.

While we specialize in the management and leasing of community and regional shopping centers, we also offer expertise in construction, financing, and development. As a successful retail developer through many economic cycles, DPI has established excellent relationships with national and regional tenants, successful leasing agents, governmental agencies and contractors with whom we regularly consult as needed on management and leasing projects. DPI is a licensed real estate brokerage firm in the State of California and is an active member of the International Council of Shopping Centers (ICSC).

DPI's corporate philosophy is to maximize the performance of every project under management by promoting a high quality, pride of ownership direction for the center, its retailers, and the community. Because DPI's philosophy for management comes from two successful decades of development and management of its own portfolio, its goals are in step with any sophisticated owner: maximization of value in each step of asset management to promote long term value.

Top