Our asset management process includes all of the disciplines involved in managing real property. In the broadest sense, our strategic portfolio management process directs the asset management process, which is tactical in nature. The asset management process begins prior to acquisition and continues until the property is sold.

The primary responsibilities of asset management are:

1. Understand the market where properties are located through market reviews and data provided by Property & Portfolio Research;

2. Conduct regular physical inspections of properties to become thoroughly knowledgeable about every aspect of their condition and operation;

3. Monitor and control the financial condition of properties, through review of leases, capital and operating expenses;

4. Using the information in (a) through (c), develop strategic asset plans for each property;

5. Create and oversee capital improvement programs, if any are required;

6. Supervise the on-site management and marketing services;

7. Monitor and provide direction to the on-site leasing and property management personnel and objectively measure this performance and tenant or resident satisfaction;

8. Review, revise and approve the operating budgets and business plans prepared by the property managers with comparison to the asset plan, portfolio strategy, acquisition pro forma and industry norms;

9. Review and approve all lease documents and associated costs;

10. Review and approve real estate tax matters;

11. Prepare financial management and accounting policies for property managers and monitor compliance. Cash management, internal control, accounting methods, and reporting procedures are reviewed regularly;

12. Review property manager reports with emphasis on variances from budgets, accounts receivable, and compliance with the business plan;

13. Provide timely, accurate, and relevant information to the client to monitor the performance of our asset management activities;

14. Control the risk management process, ensuring adequate insurance coverage;

15. Review annual valuations of the properties to measure the success of the process;

16. Review and monitor the debt structure (if any) and optimize; and

17. Continuously monitor property and market conditions relative to defined disposition strategy triggers and make disposition recommendations when appropriate.