A HIGHER LEVEL OF SERVICE

On the caretakers= tasks - collecting income, paying bills, maintaining common areas - conventional property management and Value Management are no different. Any competent management firm can and should handle these tasks well.

However, our Value Management clients benefit from a higher level of service. A few clients may utilize all of the services, but most will need only several.

1. Business Plan. Upon being retained, we will immediately begin efforts to construct a Business Plan for the property, if one does not already exist. If one does exist, then plans will be reviewed and revised if necessary. The Business Plan will generally span two to five years, be in narrative form, and provide in essence a blue print from which to build value. Upon owner approval, the Business Plan is implemented with updates provided to ownership on an annual basis.

2. Marketing Plan. When appropriate, we also work with ownership to create and/or revise a Marketing Plan. This Plan may involve the increase of resale values or the total repositioning of the property in the marketplace. Advertising approaches and pricing strategies are recommended and implemented upon ownership approval.

3. Capital Improvements Plan. Because Capital Expenditures are large in nature, it is important to budget for these items long before actual monies need to be spent. This plan should extend for at least 10 to 15 years and be as all encompassing as possible. Once the plan is adopted by ownership, we begin the task of developing a funding plan for the expenditures.

4. Extensive Financial Reporting. We view financial reporting as an extremely useful management tool, not a necessary evil. That is why we have developed an exceptionally comprehensive software/computer system for collecting, analyzing, and reporting financial data. The system provides ownership with as many as ten standardized reports, as well as customized schedules based on ownership's specifications and needs.

5. Contracted Services Audit. We will review all contracted service contracts for cost competitiveness and will recommend other service providers if service is lacking or costs are out of line. In addition, the cost/benefit of bringing certain services in-house will be analyzed.

6. Energy Audit. We normally conduct an energy audit on each newly-assigned property. The purpose of the audit is to determine if any energy conservation techniques - such as peak shaving, load rotation, transportation gas, or utility rebates - are applicable. The utilization of the above techniques can provide large savings to certain customers.

7. Insurance Review. We will review the insurance in place to make sure that the property is neither over insured nor under-insured. In addition, we can often provide added savings through buying insurance on a consolidated, rather than a piece meal, basis.