Property Management- Question & Answer Session

Benchmark Asset Services, LLC (BAS) recently created a profile on thumbtack.com. They asked some important questions during the set-up process...questions that Owner's should ask prior to choosing a property management company. Casey Loftus, Property Manager, takes a moment to answer some of the frequently asked questions she receives when meeting with potential clients. 

QUESTIONS & ANSWERS

Why does your work stand out from others who do what you do?

The owner of two successful small businesses, Casey is a strong, bright and energetic individual with a unique set of skills to effectively manage, market, and produce results. She is proficient in the highly sophisticated property management software, Yardi Voyager, and will be using the program for all accounting and property management functions.

What do you wish customers knew about you or your profession?

It is unfortunate for a tenant to fall on hard times because everyone suffers. However i wish they knew that communication is key and will save everyone frustration when it comes to rent collections.

Describe the most common types of jobs you do for your clients.

The most common services we offer are rent collections/accounting for the properties, as well as management of repairs and maintenance and the subsequent billing/payables.

Do you do any sort of continuing education to stay up on the latest developments in your field?

I am currently an Associate Member of IREM (Institute of Real Estate Management), with hopes to begin working towards becoming a Certified Property Manager within the next year.

What do you like most about your job?

My favorite part about Property Management has been picking up problem centers, whether it be because of vacant space or late-paying tenants and being able to turn things around for the Owner. My main job is protecting the asset and maximizing return. I enjoy making a difference through proactive and empathetic communication with tenants, and working closely with our leasing agents. The agents aggressively work to seek cohesive tenants that can build off of each other's business in order to make the overall property a success.

What advice do you have for a customer looking to hire a provider like you?

My suggestion for owners with multiple properties is to give us a chance. Take your least successful center and let us show you what we can do! You have nothing to lose and everything to gain. We work quickly and aggressively all while maintaining or even rebuilding positive relationships with the tenants.

Tell us about a recent job you did that you are particularly proud of.

My most "pat-on-the-back"-worthy moment was when I first began and was able to find a large error in the triple-net reconciliation. The previous property management company had failed to do any reconciliation of fees paid vs fees collected during the year. Subsequently, no pass-through billing occurred for the owner to recoup funds for common area maintenance, property tax, and insurance expenses. I discovered this within a week of the deadline to report per the leases and was able to reconcile the accounts, and send the subsequent billing/credit statements to the tenants prior to deadline. This enabled us to recover most of what would have been otherwise lost. This occurred all within my first 2 weeks, so not only was I learning the property management functions/new system we had purchased, and the tenants/leases for each property, I dove right in and fixed a major issue that saved the Owner from losing thousands of dollars in uncollected fees.

What questions do customers most commonly ask you? What's your answer?

Most clients prior to selecting a Property Management company have concerns with accessibility. At Benchmark Asset Services, we are available 24/7 for emergencies and offer timely monthly/quarterly accounting and leasing reports. We have a network of preferred vendors with which we have built strong, professional relationships. Lastly, we utilize a cloud-based computer system, and our property management program is accessible from any computer with an internet connection so we are never without access to important files.

How did you decide to get in your line of work?

I was raised in a family of developers, brokers, and builders. I have a passion for people, and enjoy problem solving. Through experience in several congruent industries, I have aquired a uniqe set of skills that makes me perfect for a career in Property Management. When the opportunity came about, I accepted with excitement and enthusiasm.