Property Inspections

GKM will perform regular inspections of the property and monitor all aspects of the physical plant.

Interior Inspections include:

• General cleanliness of common areas
• Wall and carpet conditions
• Ceiling tiles
• HVAC and mechanical equipment
• Electrical and gas meter rooms
• Sprinkler systems
• General lighting
• Windows

Exterior Inspections include:

• General site cleanliness and appearance
• Parking lots and line striping
• Parking lot lighting
• Building structure
• Roof systems
• Exterior doors & windows

Emergency and Service Calls

GKM is the primary point of contact for all emergencies and service calls. Immediate and direct access is available to one of the GKM representatives on our Emergency Contact List.

Glickman Kovago Emergency Contact List:

• Ellen Ruane - Vice President of Property Management
• Lawrence Jones - Facility Maintenance Technician
• Peter Kovago - Principal
• James Glickman – Principal
• Michael Jacobs – Principal

Full Accounting Services

Financial Reporting:

GKM will generate financial reports that will provide both itemized details and a clear and concise summary of the financial activities for 250 Hampton Place. This will allow the Owners to review the financial status as a general overview or in as much detail as desired.

GKM will quickly and efficiently customize any financial reports to meet the Owners’ specific requirements and will develop specialized reports to assist in the analysis of the property.

Owner Financial Reports:

Owner Financial Reports with current bank statements will be provided at owner meetings or via email if no meeting is scheduled. GKM will customize the reports to meet specific requirements.

Standard sample Budgets and Reports are attached.

Operating Budget:

GKM will prepare a preliminary operating budget with clarifications as required. The operating budget is established utilizing information gathered from the annual multi-bid process, which ensures realistic and reliable budget numbers that minimize year-end discrepancies. This budget will be submitted to the Owners for review and approval.

GKM will perform an in-depth study of the physical property and develop a list of appropriate budget items to target potential short and long term issues. GKM will recommend priorities, discuss the level of maintenance desired and finalize the operating budget for the year.

GKM will provide an operating budget prior to the end of the fiscal calendar year for the next fiscal year for the Owners’ review and approval. GKM will review this budget with the Owners and make suggestions and recommendations.

Reserve Funds Analysis:

If appropriate, GKM will include a Reserve Fund Analysis to ensure that the Owners have sufficient funding set aside for long-term maintenance and repair items.

Utilizing actual replacement costs and projected market increases will assure that adequate funds are being set aside.

Budget Variance Report:

The Budget Variance Report is a cash based itemized report. It shows the amount budgeted for the month and the period year to date, actual amount spent or collected, and the variance between the month to date, year to date budget and what was spent or collected.

Statement of Cash Flow Report:

The Statement of Cash Flow Report provides operating activities and the cash at the end of the period which will match all bank account balances we hold for you.

GKM can include copies of all bank statements and verification of balances. Each month’s activities are tracked and all transactions are documented and accounted for.

GKM will provide all required financial information to the accountant for tax purposes, or will make arrangements to have a CPA prepare the taxes. The information prepared and provided will minimize both the preparation time required by the accountant and the associated cost.

A/P Aging Report:

The A/P Aging Report lists all vendors that have not been paid to date, the due date of the invoice and if the invoice is current or how many days past due the vendor is. This report allows the Owners to see what may not have been paid in the month, but is coming due and will be paid shortly. This keeps Owners informed about future expenses that have not yet been posted to the account.

Complete Record Keeping Services

GKM monitors all date sensitive items. All expiration and renewal dates will be logged, monitored and maintained.

Typical Monitored Items include:

• Insurance policies
• Service and maintenance agreements
• Roof inspections
• Sprinkler system inspections
• Fire extinguisher inspections
• Life Safety system testing
• Elevator Inspections

Maintenance & Service Contract Administration

GKM is responsible for selecting and securing the services of qualified and insured vendors. Request For Proposals are utilized to bid contracts for all of the building maintenance requirements. Contracts are bid out for annual or multi-year work to multiple qualified and insured vendors who are monitored by GKM for response, performance and cost effectiveness.

Vendor proposals include:

• Insurance Policies
• HVAC and mechanical preventive maintenance
• Landscaping
• Pest Control
• Rubbish Removal
• Janitorial Services
• Snow removal

Preventative Maintenance Scheduling

GKM utilizes a Team Management approach. Internal meetings with the project manager, bookkeeper and maintenance technicians enable GKM to identify and monitor expenditures on all systems. Systems such as HVAC, roofing, janitorial and paving that are in need of additional attention, or are being over-maintained, are easily identified and allocations can be reassigned.

Capital Planning/Long Term Maintenance Planning

GKM will recommend preventive maintenance schedules, repair or replacement of items such as paving, roofing, HVAC equipment, structural, architectural and other major equipment. GKM will coordinate all inspections and recommendations regarding annual reserves and replacements.