Operations Management

MAK Properties oversees all operational aspects of the property to ensure that the property is running smoothly, ownership's objectives are met and the value of the property is maximized.

Project Accounting

MAK Properties manages all income and expense details for the property, including rent payments, tenant charges, vendor payments and all other property expenses.  CAM reconciliations are performed to validate the pass through expenses for each tenant. Annual budgets are created for each property which are used to ensure income and expenses stay on track.  Monthly reports are provided which include a written update on the property, a variance analysis of the actual vs.budget figures, a cash flow statement, rent roll and whatever additional reports the client would like.

Vendor Management

 Existing vendors are managed to ensure performance meets the specifications set forth. When necessary we will competitively re-bid services and evaluate service standards to ensure the property is receiving the proper level of service at the appropriate price point.

Lease Administration

All leases are reviewed to confirm the terms of each lease are accurately recorded in the lease abstracts. This includes square footage, rent steps, CAM charges, renewal options, termination options, rights of first refusal, parking etc.  The notice dates for all items are tracked and brought to the attention of the owner and/or leasing team as appropriate.  The terms of the lease are managed and enforced by the property management team.

Maintenance Service

Work orders are recorded and tracked for each maintenance request so that we can be certain they are completed as scheduled as well as monitor trends in certain areas of the property. The Yardi platform utilized by MAK Properties has an online work order system that allows tenants to submit work orders online. A preventative maintenance program is designed and implemented to keep all systems in good working order, thereby reducing repair issues and cost.  All maintenance costs are monitored and evaluated on a monthly basis.

Tenant Relations

Tenant communication and responsiveness to requests are critical to the success of a property. MAK Properties prides itself on the relationships it builds with tenants due to regular visits and a quick response to any issues that arise.  The goal is to have a high level of tenant satisfaction that leads to tenants choosing to remain in the property. If a  tenant is happy in their current building and space, they are more likely to renew their lease at renewal time.

Comprehensive Management Plan

At the initiation of our engagement we perform an asset assessment of each property which evaluates opportunities to increase revenues and reduce costs.  This includes the review of CAM chargebacks, operating expenses, vendor contracts, service specifications, and  any other area in which opportunities can be identified. MAK Properties will work with the client to identify their goals for the property and create a customized Comprehensive Management Plan, which includes an actionable plan in place to achieve these goals.  This Plan  is reviewed regularly to determine if modifications should be made.

Technology

For full-service clients we utilize the industry leading Yardi platform which allows us to centralize all operational aspects of the property. If our client has another platform they prefer or already utilize, we are happy to work with their platform as well.