01Owners and investors
Landlord representation
Positioning, pricing and absorption for office, industrial and retail assets.
Practice detailHow it works
Property management with an owner's reporting standard: a defensible annual budget, a reconciliation tenants can audit, and preventive maintenance that is actually scheduled.
The two places asset management most often fails are the operating expense reconciliation and the capital plan. A reconciliation that a sophisticated tenant can pick apart costs you credibility and, at renewal, money. A capital plan that only exists as a list of things that broke costs you far more.
We manage office, industrial, retail and flex assets across the Twin Cities metro. Every property gets an annual operating budget built from the ground up, a reconciliation delivered inside 90 days of year end with the backing schedules attached, and a five year capital plan tied to the actual remaining life of the roof, the parking surface and the mechanical equipment.
Tenants get one number to call and a written response standard: same day for anything affecting occupancy or safety, two business days for everything else.
What the assignment includes
- 01
Annual operating budget
Built line by line from contracts and history, not escalated by a blanket percentage, with the assumptions written down.
- 02
CAM, tax and insurance reconciliation
Delivered within 90 days of year end with backing schedules, gross-up calculations shown, and the exclusions your leases actually contain.
- 03
Preventive maintenance programme
Scheduled rather than reactive: rooftop units, elevators, fire suppression, backflow, dock equipment and parking surfaces.
- 04
Vendor management and bidding
Three bids on any contract above an agreed threshold, rebid at least every three years, with scope written by us rather than by the incumbent.
- 05
Five year capital plan
Roof, envelope, paving, mechanical and life safety, with remaining useful life and a funding schedule.
- 06
Owner reporting
Monthly financial package, variance narrative on anything over the agreed threshold, rent roll, arrears and work order summary.
The sequence
- 01
Transition
Thirty days. Lease abstracts, contracts, keys, deposits, tenant introductions.
- 02
Baseline
Building condition walk, mechanical inventory, contract audit.
- 03
Budget
Ground-up operating budget and a five year capital plan.
- 04
Operate
Preventive maintenance calendar, work orders, vendor performance review.
- 05
Reconcile
Year-end CAM, tax and insurance reconciliation with backing schedules.
- 06
Review
Annual owner review: performance against budget, capital plan, and the renewal pipeline.
Why clients keep us on retainer
- 1Reconciliations delivered inside 90 days with schedules a tenant can audit
- 2Bids rewritten and retendered rather than rolled over with the incumbent
- 3Capital planned against remaining useful life, not against breakdowns
- 4A written tenant response standard, reported against monthly
Questions we get asked
More across the whole firm on the questions page.
When a building is not fully occupied, variable expenses such as janitorial and utilities run lower than they would at full occupancy. A gross-up clause restates those variable costs as if the building were 95 percent occupied, so an occupied tenant pays its true proportionate share rather than benefiting from a neighbour's vacancy. We show the calculation rather than burying it.
Yes, and often. Management and leasing are separate assignments with separate agreements. Where we do both, the reporting keeps them separate so you can judge each on its own.
We give them the schedules. Most disputes end when a tenant sees the actual invoices behind a line item and the lease language that governs it. Where a charge really is outside the lease, we credit it rather than argue.
For a suburban office or flex property, seasonal snow and ice budgets commonly land in the range of 0.35 to 0.70 dollars per square foot per year depending on lot size, trigger depth and whether hauling is included. That is a sample range for illustration; your contract and your winter will decide.
Related practices
02Owners and investors
03Owners and investors
Valuation and market research
Broker opinions of value, market studies and quarterly submarket fundamentals.
Practice detailTell us the requirement
Size, timing, the constraint you cannot move. We will say honestly whether we are the right firm for it.