Property Management Services

Neari & Associates, Inc. works one-on-one with each client, taking time to develop the approach that will increase occupancy, control costs, and increase cash flow.

Leasing and Tenant Relations

At Neari & Associates, we know how to market vacant space and retain existing tenants, as evidenced by our 2,500,000 square feet of leased commercial space.

With our exclusive site-specific leasing program, aggressive cold calling and network of qualified brokers, we make sure your property ranks as a top competitor in the local marketplace.

We know that leasing space, however, is just the start. Tenant retention is a critical factor in successful property management and profitability. We make sure your tenant's daily operational and long term space needs are met and exercise strict quality control over janitorial, landscaping, security and other vendor services to assure a clean and safe working environment.

Financial Management Systems

We adjust our financial management system to meet your needs-from a comprehensive, standard package of management reports to a customized financial program. By controlling collections, escalation billings, lease administration and service incomes, Neari & Associates maximizes your additional revenue opportunities.

Risk and Asset Management

Through our annual budgeting and management planning process, Neari & Associates identifies any items that can increase your property's value during the ownership period. We reduce exposure and control expenses using real estate tax reviews and risk management procedures.

Capabilities

Established operation procedures - for commercial or residential properties -are a critical component in the efficient management of an income- producing asset.

Property Takeover: Timing & Procedure

While capable of moving as quickly as required, we generally recommend a 30-day period to effectively implement a property takeover. Takeover procedures would include:

• Letters of notification to utility companies and vendors.
• Letters of notification to existing tenants concerning the changeover and pertinent issues, i.e., rent collections, service needs, etc.
• Property review/checklist to establish priorities: physical plant, marketing, tenant relations, etc.

Tenant Services

An open communication line is the key to servicing existing tenants. An evaluation during the management takeover process to determine the current or existing level of service, followed by a game plan formulation addressing service and communication problems is essential.

We recommend the following as steps to good service, open management and positive tenant relations:

• Evaluation Process. Devise and complete a resident or merchant evaluation/survey.
• Establish areas of concern. Define problems.
• Establish an annual general and preventive maintenance system.
• Devise tenant newsletter (residential). Schedule monthly-quarterly merchant/manager meetings (commercial).
• Establish tenant handbook (residential) for new and existing tenants.
• Establish proper support from vendors/contractors.
• Establish an emergency/catastrophe procedure.

System Operations

With our mechanical operations and preventive maintenance program, Neari & Associates protects your physical asset and improves your bottom line. Our program ensures building systems operate in the most efficient and cost-conscious manner, while maintaining tenant satisfaction.

Renovation, Redevelopment, Capital Improvements

Neari & Associates has completed several million dollars of residential and commercial renovations and improvements, from minor renovations to major redevelopment programs. We create competitive and cost efficient leasing amenities using market-conscious unit cost and retrofit programs for tenant improvements.

Asset Disposition

When it comes time to sell, Neari & Associates' knowledge of your property, potential buyers, financial markets, economic/demographic trends and current real estate values give you the competitive edge.

We know how to read the market so you sell at the most favorable time. Our establishment contacts in real estate get buyers to the table. We quickly guide the buyer through the due diligence process. Then we effect a smooth transition by providing the management continuity important to tenants and tenant relations.

Financial Reporting

We provide the following reports on a monthly basis:

Monthly Operating Reports, Commercial and Residential

• General Ledger
• Income/Expense Statement
• Balance Sheet
• Delinquency Report
• Summary/Reconciliation of Income/Expense Variances - Monthly and Year-to-Date

Residential Budget Summary

In addition to the above, we recommend a Residential Budget Summary, which is completed on-site using the accrual method of accounting. This report served solely as a means of budget control at the on-site level.

Neari & Associates, Inc.
322 N. Spring Street
Winston-Salem, NC 27101
Phone 336-831-0521     Fax 336-831-0524