Asset Management
In holding real assets, our focus is to monitor market activity and produce the insights necessary to unveil opportunity. We provide continued measurable results in all facets:
- PROPERTY MANAGEMENT
- TENANT RELATIONS
- TENANT MIXING
- LEASING STRATEGY
- SPACE DESIGN
- MARKET RESEARCH
- MARKETING
- RISK MANAGEMENT
• ASSET MANAGEMENT
With diverse and deep levels of expertise, Klein Group has earned a reputation for sustaining and enhancing asset value for both private and public investors. In holding real assets, our focus is to monitor market activity and produce the insights necessary to unveil opportunity. We provide continued measurable results in all facets:
• PROPERTY MANAGEMENT
Using our professional skills and the latest technology to find quality tenants, minimise vacancies and handle marketing, repairs, maintenance, accounting and legal compliance efficiently and cost-effectively we provide comprehensive property management services with a clear focus on maximizing value. Klein Group also partners with our clients to facilitate an efficient transition, to lower operating costs without sacrificing service, and provide accurate, timely property accounting and reporting. This will cover and is not limited to:
• Building operations and maintenance best practices, including Green initiatives and LEED® certifications.
• Property accounting and financial reporting
• Contract management and lease administration
• Product marketing and leasing
• Assessing market rents to maximise your return
• TENANT RELATIONS
Our tenant relations programs are designed to promote a high level of personal service through one-on-one communication and tenant appreciation. All our staffs participate in on-going training on new regulations etc and understand the responsibilities of looking after your property and who know exactly how to do it right the first time. They are very capable of ensuring seamless tenant relations throughout.
In turn based on an asset's specific marketing and leasing strategy, Klein Group can co-ordinate ‘special’ tenant-appreciation events, seasonal activities, concierge services and gifts. We know that the lifeblood of all commercial real estate is retaining tenants and maintaining cash flow.
Ours is to help you cut costs and boost occupancy. With this in mind we can:
a. Guarantee professional and courteous service at all times by being readily available to talk through your needs and most importantly being your eyes and ears at your property.
b. Use our stringent tenant selection process to ensure that we have the best possible tenant for your rental property. By checking on the industry tenancy database (only available to agents) we help you reduce the risk of selecting the wrong tenant.
c. Advise of the market rent of your property and suggest rent increases if appropriate just to help you maximise your returns and minimise vacancies.
• TENANT MIXING
In today’s fiercely competitive environment, commercial real estate professionals must efficiently locate profitable sites, match tenants to available properties, plan market expansion and contraction, stay abreast of changing consumer tastes, and act more quickly than the competition. A crucial element of property management therefore is the ability to create the right tenant mix for your commercial property. A well planned and executed tenant mix can help a commercial property thrive and survive in spite of ferocious competition and economical downturns. The obvious purpose of a tenant mix strategy is to maintain a balance between diversified product and service offering and revenue imperatives of the leasing business. Think of a retail environment - putting a church next to a tattoo parlour does not work very well.
Because we understand this and respect what the market and customer needs we personally pre-screen and screen prospective tenants from the onset - we screen on affordability and they too must pass credit and criminal checks because we want a good tenant mix. We will also accompany them to your property so we can present it at its best all the while identifying various other tenancy strengths. Klein Group will strive to keep a prospective tenant motivated enough to choose your property. We know that the fewer vacant days you have, the more income your property will generate. The happier your tenants are, the longer they will stay.
• LEASING STRATEGY
Many leasing strategies are dependent on commercial real estate market conditions. It is important that these be developed at the very beginning for maximum results. That is why Klein Group come in even before a deal is signed to help you do just that- develop a custom leasing strategy that is constant and ideal for each client aimed at delivering the very best deal possible. Our proactive professionals apply proven industry expertise, up-to-the-minute market knowledge, and state-of-the-art research tools to customize successful client leasing strategies. We pay strict attention to the details of each transaction, aggressively and effectively representing the position of our clients.
Part of developing a leasing strategy is helping you:
a. Create a database of all clients’ lease documents, maintain the database and train the client’s employees to use it. The system also generates notifications of critical dates such as lease terminations and other reporting information.
b. Handle all basic lease administration services plus review and processing of landlord invoices, collection of subtenant rents, maintenance of vendor files and generation of payment reports.
c. Handle actual payments of rental obligations and implementation of business controls to ensure compliance with laws and regulations.
With the help of a team of well trained real estate professionals Klein Group can construct and maintain a database that captures all essential information for our clients, enabling them successfully manage their holdings more effectively while realizing major savings.
• SPACE DESIGN
Another aspect of our asset management is commercial space design and planning. This has to do with the stringent development of comparative scenarios and strategies to plan optimum future space use of single and multiple premises or properties. Space planning and design are not only about aesthetics - they give your premises a positive image that both confirms your business values to clients and improves employee performance and commitment. Commercial premises have to be cost effective through optimum space use that improves functionality and efficiency in all areas of your business. We conduct comprehensive analysis and evaluations of your business surfaces to determine their real exploitation cost, suitability to your commercial needs, and develop future planning and economy strategies.
Whether through an external advisor or through our own best practices in commercial real estate, we help to create innovative design solutions that incorporate all the spatial requirements and technical services your business requires. We evaluate current and future workspaces to determine spatial, functional and occupation cost efficiency for business needs. Integrating design, costing and fit-out our extensive experience enables us to develop and complete projects efficiently and at the best price.
We have all the professional skills required to design, cost and fit out premises with maximum efficiency.
• MARKET RESEARCH
We can help you find the right site for your next store, distribution centre, or shopping centre. We study competitor locations, planned residential subdivisions, customer surveys, and census data to visualize market penetration, market share, and trade areas. When markets change, our research team is qualified to help you better understand existing locations and identify new markets to penetrate. Losing customers to the competition costs you money. Our competitive market analysis identifies the types of products, promotions, and services that will attract profitable customers and create customer loyalty. This way we can easily ensure our marketing efforts are more targeted and efficient.
A wide array of market research and econometric forecasting information is available through our research team; aspects such as zoning, local Incentives and opportunities for leasing versus building identified. We combine unmatched local market knowledge and specialty expertise with detailed analysis, unlocking opportunities that support the business goals of each client and establishing a solid foundation for informed action. The knowledge provided by our dedicated research staff of talented professionals is a critical component of the company, and lays the groundwork for the innovative solutions delivered to clients and program investors.
• MARKETING
Positive word of mouth can bring new tenants; effective competition in the marketplace will require a marketing plan and advertising budget. Consistency is important in advertising and so is budgeting, more specifically budgeting for increased marketing when vacancy rates increase. We therefore insist our clients develop a budget to fund regular periodic ads in media that have a proven track record in generating tenants. We also make efforts to coordinate increased marketing that will target prospective tenants, whilst displaying a market need; using not just traditional advertising tools but adopting internet marketing and e-commerce strategies as well as enhanced site brochure marketing techniques.
• RISK MANAGEMENT
Risk management is an ongoing process that requires risk managers to work closely and cooperatively with investment professionals on a day-to-day basis. The activities of risk management at Klein Group are largely similar to their activities in other financial firms and in include assessing and implementing risk management guidelines and objectives, determining and reducing equipment and installation risk to business continuity.
Our risk managers look into different types of risks ranging from legal, competitive and social risks that if managed well, enhance real estate professionalism; to health and safety risks that cover the core asset, people and client risks that you need to be mindful of, to financial and business risks particular to property and real estate sales; to finally, those that risks that are particular to real estate property management.
All our risk management plans aim at:
a) Identifying material sources of risk
b) Measuring and monitoring those risks
c) Devising better approaches for controlling, mitigating or hedging those risks
For additional information on one or all of our Asset Management services, please contact us.
