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At The Michael Gaich Company, we are committed to quality leasing and asset management services. Our consistent record of low vacancy rates in our developed or managed properties shows our superior expertise. We use customized tenant retention plans to maintain our low vacancy rates. Our leasing and asset management services includes:
Costing Activity-based costing is a method that assigns cost to traditional general ledger accounts such as insurance, utilities, and real estate taxes, but breaks down these categories into what type of activities does this cost support, for example property management, property development, marketing and promotions. The purpose of this exercise is to assess how much is being spent on specific job tasks. The ultimate goals are to decide whether there is duplication of efforts, are the correct tasks being performed, and should more or less money be spent on or charged for the work. Budgeting Zero-based budgeting is a very conservative approach to budgeting. Most often, budgeting begins by using last year's expenditures, and increasing them a designated amount of percentage points based upon market conditions or experience. This does not take conditions into consideration that might have changed. Usually the good changes are very well broadcasted, but the inefficiencies are not - and this method can cause a budget overage. At The Michael Gaich Company, we believe the point to begin is not at last year's dollar amount, but from zero. By talking to owners, tenants, and other property managers that are closely related to the source of these costs, we can get their input and better predict future expenditures. Managing for Value (MFV) Managing for value (MFV) is a team building approach and often a change in thinking. Tenants often adopt the viewpoint that if the owner doesn't "do" for them, they will just move to another location or leave their business. This is destructive to both tenants and owners. MFV is a conscious effort to think about the future. This is demonstrated when a tenant, or the property manager, and the owner look for ways to reduce costs anywhere on the property and generate revenues for everyone involved with the property. Thereby, team alliances are created, cost savings are accomplished, and positive cash flow is increased. This is a recipe for success in business and our goal at The Michael Gaich Company. To learn more about the asset management services offered by The Michael Gaich Company, please contact us for a consultation. |
