Property Management

Newstream’s integral involvement in all aspects of real estate investment and development continues beyond a project’s physical completion within our property Management division. Built around a team with vast experience, our asset management group focuses on enhancing buildings’ environments and providing a higher standard of service to its tenants, owners and visitors.

Listed below is a description of services provided to property owners:

Accountability

Newstream Management respects the responsibility we have accepted as the management company of a valued asset.  Whether your desire is to maintain your current asset or transform it to enhance value, our objective is to make prudent decisions, offer well researched advice and provide services that help our clients exceed their goals. Our clients can rely on our expertise to help determine the best solutions in today’s dynamic real estate market.

Financial Reports

Utilizing premier management software, the monthly financial statements provided to owners include detailed accounting of income and operating expenses by account category, balance sheet, capital expenditures, monthly and year to date actual vs. budget analysis, accounts payable distribution, cash journal, accounts receivable and aging, vacancy and lease expiration summary, and an itemized rent roll.  Our financial reports facilitate our client’s annual tax preparation and year-end financial statement.

Property Reports

Accompanying the monthly financial report is a summary of the months’ activities including, income and expense explanation, pending or on-going capital improvements, maintenance and physical conditions, and marketing status.

Property Operating Budget

Recognizing that guidelines are necessary to meet our clients’ objectives, an operating budget is created prior to the commencement of the calendar year.  Upon client approval, the budget is used to forecast income and establish spending perimeters, leasing goals, and capital improvement implementation.  When applicable, budgeted operating expenses are provided to tenants to establish operating expense recovery estimates.

Tenant Relations

Establishing a positive relationship with tenants and residents is of the highest priority to the Newstream Management staff.  We recognize that being responsive to all concerns, and providing quality customer service, greatly improves all aspects of property operations.

Operating Expense Recovery

Newstream Management maintains accurate records of all operating expenses and recaptures 100% of the expenditures allowed pursuant to each individual lease.  To facilitate collection of additional income, detailed reconciliation statements are provided to all tenants at the close of the year.

Lease Administration

A lease analysis is created for each tenant providing Newstream Management with a reference guide to the important facts.  Tenants are promptly notified of any condition which constitutes default of the Lease Agreement, and Landlord responsibilities are implemented as agreed to in the lease document.

Contract Services

Due to the size of our management portfolio, Newstream Management is able to provide competitive pricing to its clients, and efficiently manages all contracts such as landscaping, trash removal, parking lot sweeping, janitorial and security service, and other routine services for the maintenance of the property.  Certificates of insurance are maintained on all companies and quality control is enforced.

Maintenance & Emergencies

Newstream Management employs a staff of maintenance professionals who are qualified to provide a variety of services, as required, for each property within our management portfolio.  Daily activity logs are maintained and cross referenced with work requests and approved projects.  Twenty-four (24) hour emergency answering service is provided, and all management personnel alternate the responsibility of responding to emergency after-hours situations.

Strong Reputation

The Newstream management team is comprised of knowledgeable and talented professionals with a strong reputation and extensive management experience.

First-Class Service

Whether managing a single property or an entire portfolio, all of the resources of our company are implemented to provide you, your assets and your tenants with first class service.

Detailed Reporting

Utilizing premier management software, the monthly financial statements provided to owners include detailed accounting of income and operating expenses by account category. Our financial reports facilitate our client’s annual tax preparation and year-end financial statement.