We Treat Your Asset Like It Is Our Own
We manage Office, Retail, and Industrial property to reduce costs, mitigate risk, and enhance value-while providing personalized services tailored to your unique needs.
Why SVN | True Real Estate Partners?
Our management team treats your property as their own.
With systems derived from years of trial and tribulation, we set up your property to run as financially efficiently as possible, with the end goal of tenant retention and added value in mind.
Fully Customized Reporting
We tailor our owner reports to fit your needs with fully customized reporting. CPAs can easily delegate and adjust entries throughout the year to avoid a stressful tax reason.
.svg){kind=icon}
Pay Rent Online Feature
We are able to accept rents through our online portal which results in timely accounts receivable.
Vendor Management
We work with established licensed, bonded, and insured companies to ensure to quality work is performed at competitive prices.
.svg){kind=icon}
Tenant Communication
Effective, organized, and timely communication is the name of the game. If you were a Tenant, wouldn't a good or bad management company be a part of your decision whether to move or not? Make the right choice.
NNN Reconciliations
Our Triple Net Forecasting Process begins in October where we analyze the property's year-to-date income, annualize, and then forecast Triple Net.
.svg){kind=icon}
Leasing
We use our extensive knowledge of the Triple Net Reconciliation process to implement best practices for the Landlord into any lease negotiations, including "Cumulative" caps, if any, on expenses rather than just over previous years.
Happy Tenants Equals Happy Rents
From Local Operators to Large Corporations, we are grateful for all of our Tenants and treat them as such.
Frequently Asked Questions
Depending on the circumstances and the frequency of the Tenant's lack of payment, if your Tenant doesn't pay rent we generally recommend attempting to contact the Tenant to understand why they are late and see if their is a scenario that works for you as an Owner to get their rent payment current.
If this isn't practical or the Tenant has a history of late or non-payment, you will want to move forward with an Eviction which we touch on below.
Although every property is different, there are many ways to decrease Common Area Utility Costs. First, we start with the light timers. If your Tenants generally leave their office by 8:00 pm, there isn't a need to have lights on until 11:00 pm (on the interior of the building). If this saved you some money, you may look into LED lighting and/ or solar panels.
At various times different municipalities or government agencies will provide incentives for certain upgrades which can result in reimbursements, lower operating expenses, and in some cases tax savings. You may consider contacting a LEED consultant to see if your property is a good fit.
If your Tenant is constantly late on their rent, we recommend you review your Lease to see if there is a late fee provision that you can start implementing. If you have been charging late fees and the Tenant is still late, some Leases have clauses that allow you to charge for six months rent at a time in the even of more than three late payments in a calendar year.
If your Lease doesn't have this clause, we recommend placing a 3 day notice on the Tenants premises in a timely fashion every time they are late which serves as a notice of default.
No, in order to provide our clients with the best service possible, we focus on managing commercial real estate which is what we are good at and what we know.
- The Tenant's Use: It is important to understand if and how the Tenant's will affect the surrounding Tenants. For instance, in an industrial setting a Cabinet Shop may create a lot of dust and loud noises, an Auto Repair shop may leak chemicals into your building's foundation, and a cannabis use may have fumes from time to time. We are not saying these uses can't be good Tenants, but it is in your best interest to fully understand the use.
- Length the Business has been in operation: Generally speaking, it is less of a risk to Lease to an established company with a good reputation rather than a company starting from scratch (remember 80% of business fail within the first five years). Once you are in receipt of the LOI, look into the Tenants website, their customer/ client reviews, and maybe even see if you have any mutual contacts you could ask what they think about the prospect.
- Rental Rate: The amount of rent you obtain values the property. For instance, if you have a Tenant willing to pay $1.75 with one month of free rent, run the numbers to see if it makes sense for you to do $1.80 with two or three months of free rent instead. When it comes time to refinance or sell, the increased rate will increase the value of the property. (Please note, there are many ways to do this and this is just one example.
- Financials: You can tell a lot about a Tenant by reviewing bank statements and financials. Often times, we will ask the Tenant where they were operating previously and call the owner to see if they are a good Tenant. This takes a few extra steps but really helps you understand the risk especially if they are requesting Tenant Improvements.
