Property Management

Castle Realty and Management, Inc. are experienced management professionals that create value through day-to-day supervision and long-term strategic planning. They analyze market trends to determine how to effectively position a property within a given market, and then develop a custom marketing, leasing and management strategy to maximize its potential value. In addition, Castle Realty and Management, Inc., provides asset renovation, development advisory services, and property repositioning/lease-up campaign expertise.

At Castle Realty and Management, Inc., we take great pride in our role as the intermediary between Landlord and Tenants. If you are looking for a company you can easily reach and communicate with, that keeps you insulated from the daily challenges of property management; our services are what you’re looking for. Whether by phone, e-mail, postal correspondence and/or our statements, we keep you informed of the status of your investment. Operational services include leasing and tenant relations, building system analysis, construction and management, tax appeal and insurance evaluation, routine maintenance as well as stringent state-of-the-art reporting systems that keep owners informed on the property’s status.

Castle Realty and Management, Inc., contracts are profit driven, however, to produce profit, the properties must be occupied. And to be occupied, they must be attractively presented and maintained, professionally managed and competitively priced. Professional management includes skilled mechanical technicians, trained and professional leasing agents and attentive customer contract personnel. Continuing education of our people is the keystone of Castle Realty and Management, Inc., and its continuing success. Certification by NAR is paramount in ongoing training to assist our client’s plan, develop and market the properties they’ve called upon us to manage. With you as a partner, we will maximize your income, minimize expenses while keeping t he property occupied and well maintained.

Overview of Property & Asset Management Tasks

• On-going management development programs which provide continual training identification of personnel potential for advancement, and development of team management – all of which reduce costly turnover of employees and improve performance.

• Preparation and processing of all required payroll reports, including Federal, State, and Local Withholding, Worker’s Compensation, and FICA.

• Maintain up-to-date job descriptions and work schedules for site personnel.

• Energy conservation programs and analysis.

• Preventative maintenance systems.

• Property inspections by Certified Property Managers®

• Maintenance of personnel files.

• Bulk purchasing

• Negotiate and maintain all service contracts

• Development and monitoring of marketing programs

• Prompt contract and communication between owners and tenants.

• Maintain market surveys to ensure highest obtainable rents.

• Maintain up-to-date information on applicable Landlord/Tenant legislation and regulations

• Ongoing tenant surveys, to insure the quality environment necessary to foster satisfied, long-term tenants.

Overview of Financial Services
Tendered

• Professional supervision of all site personnel including salary, wage, and incentive program administration

• Monthly Management reports are sent with the financial statements every month.

• Monthly and annual financial statements with the ability to produce special reports as necessary.

• All funds are held in trust accounts in accordance with applicable Florida Statues.

• Maintain up-to-date information on applicable payroll regulations.

• Complete payroll processing

• Monthly reconciliation of properties bank accounts.

• Collection and processing of rental payments and all other sundry income.

• Processing of accounts payable.

• Ensure that annual audit is completed by owner approved Certified Public Accountant.

• Long range financial planning.

• Preparation of the property’s annual operating budget.

• Monthly cash flow statements.

• Monthly cash status report

• Monthly detailed listing of accounts receivable

• Continual review of software to ensure that our owners receive the latest in property management technology.

Other Services

• The exclusive use of reliable vendors; companies and individuals that are licensed, bonded and/or insured as appropriate. No “Add Ons” to Repair invoices: We never apply profit and/or overhead to any routine maintenance invoice.

• Reviews of management compliance programs which provide continual training, identification of personnel potential for advancement, and development of team management – all of which reduce costly turnover of employees and improve performance.

• Avoid non-compliance by taking the proactive approach through the use of Compliance Pre-Approvals which means we will have our compliance professionals review each file prior to move-in.

• Periodic Tenant Fire Reviews by our compliance professionals in preparation for Federal, State and/or Local regulatory agencies’ audit.

• Ensure Compliance with the Land Use Restriction Agreements.

• Review reports prior to submitting to Federal, State, and/or county agencies.

• Represent owner at Federal, State and/or local regulatory agencies’ audit.

• Maintain an on-going record keeping of reviews, reports and/or changed related to ensuring compliance with Federal, State and/or local regulations.

• Maintain up-to-date information on applicable Landlord/Tenant legislation and regulations.

Current General Assessment & Prospective
Strategies

Current General Assessment

After inspecting the buildings and review the financial statements we will determine which are areas where we can either reduce or plan a more efficient spending (expenses) will be a foundation of the ultimate bottom-line goal; Increased Revenue!

a. To meet that goal, we will have to encounter several challenges and changes that will be critical to maximizing your financial returns, increasing the marketability to new prospective/future owners, and satisfying the needs in your current owners.

b. Dramatically lower the fixed expenses.

c. Other standard savings should be accomplished by redesigning the building’s approach to water and electrical conservation.

d. Our strategy should not interfere with the building’s operational efficiency.

e. We will interview and evaluate the current maintenance employees and determine if their approach to maintenance and repairs is satisfactory.

f. As we state earlier, Tenant improvements shall be subcontracted as needed.

The projected savings plans are based on the owner’s cooperation in implementing the savings program and the assumption that there are no unusual contracts and/or conditions that limit the management, leasing and operation of the building.

Getting Started

If you are not currently under contract with another property management or real estate company we can begin right away. If you are currently under contract, you will need to terminate their services according to your agreement with them. We are happy to pick up keys, security deposits, and necessary documents from the discontinued company. At your request we will mail you a complete start up package. Once you have completed all necessary forms and returned those to us we will get started.

Management Fee

Castle charges no set up fee, no annual fee, and no lease renewal fee. We would enter into an exclusive management and leasing agreement for an initial period of three (3) years, subject to annual renewals thereafter if all parties are mutually satisfied. The management fee will be 5% of gross receipts. You will see from the attached projections that you will save on management expenses while having an experience commercial leasing and management broker who handles numerous other buildings.

Maintenance

We understand your need as a landlord to be kept abreast of property condition both physically and financially. We will contact you per instructions to us in the start up package, as to at what amount in the amount in maintenance you would like to be informed. One emergency maintenance will use our best judgment on making repairs over your specified authorization amount. Emergency maintenance includes but is not limited to loss of air or heat, water damage, main drain stoppage or electrical problems. Most emergency repairs can be fixed at the time of the service call; some require later bids and replacements such as heating and cooling systems. Over the years, we have assembled an excellent array of reasonable priced honest maintenance technicians for every area of repair your property may need. We do not make a profit on any labor or materials for maintenance. Our pre-qualified licensed, insured repair technicians change based on services and prices we are receiving. Prompt attention to maintenance items keeps tenants smiling and prevents minor problems from turning into high dollar repairs later. Per lease agreements, the tenant is responsible for any maintenance that is caused by them or their patrons.

Inspections

At the time of the move in and move out there is a complete written inspection of the property with the building association. We have a complete interior inspection done each and every year during the term of management contract. This includes photographs inside and out, with a three-page inspection sheet, inspectors comment sheet, and manager’s comment sheet. Inspections may also be done on request.

The property management team of Castle Realty and Management, Inc., possesses the ability to oversee all aspects of the care, protection, maintenance and operation of your property with the highest regard to detail.

Summing It All Up

At Castle Realty and Management, Inc., we believe that everybody has different courses to follow in life, different dreams, passions, goals and expectations. One course or path in life almost all people strive to go down is the path to financial and personal freedom and enrichment. That is where Castle Realty and Management, Inc., is charting course.

There are many different courses to char through, on your road to financial freedom; Stocks, bonds, commodities, C.D.’s, foreign currencies and the list goes on. Once course that has the longest recorded history of continual growth is real estate. Real estate or “shelter” is one of the three basic needs that all humans require to survive. The world population has doubled approximately every thirty years but the amount of land/real estate has remained constant since the beginning of mankind. At Castle Realty and Management, Inc., we have charted a course through the financial freedom path or real estate.

Castle Realty and Management, Inc., is a State of Florida Corporation that specializes in purchasing foreclosure, estate, repossession and any other real estate that is 20% or greater under market value. Focusing on real estate investment, sales and property management, Castle Realty and Management, Inc., has been refining the process of acquiring distressed property, rehabilitation, managing, sale of single family homes and commercial buildings for several years now.

Accommodations will be tailored to meet individual investor needs. Some investors want to be totally passive as a direct lender in the transactions, having Castle Realty and Management, Inc., handle all details involved in the rehabilitation and marketing. All investments are secured with the property title record on the subject property providing investor with a secure position in the property.

Other investors desire active hands on ownership position of the subject property being involved in the rehabilitation and marketing themselves. Most companies are only profitable in the rehabilitation and marketing themselves. Most companies are only profitable given the right economic conditions. It economic conditions turn downward; their success is on the downside. It is during these downward swings in our economic markets where Castle Realty and Management, Inc., continues to prosper and in most cases continues to grow. Real estate is in no danger of new technology making it obsolete or intense competition in new markets driving profits down. We’re technology proof, recession proof, time tested and proven.