The New Way to Success Advance Progress

 

  • Facilities Management

    In an industry that requires careful management of physical property operations, personnel, and finances, an asset plan provides the necessary direction for successful real estate management. The asset plan is designed following an in-depth analysis of the property and its position in the market. It implements the owner’s objectives in the property’s management, and it is typically developed within 60 to 90 days of a property acquisition.

    An asset plan may also be developed when a property is transitioned from one asset manager or asset management company to another, or on an annual basis, as a part of the ongoing management of an already-owned property.

    For HAS Properties facility managers, asset plans are part of the ongoing management, but there may be times when you are also asked to contribute to due diligence on new acquisitions, as well.

    Before recommending any plans for a property, you need to effectively understand what exactly is owned. Thoroughly answering the question “What is owned?” requires extensive research. It is not enough, for example, to state simply that a ten-story office building is owned. Rather, the answer warrants a detailed response that includes specifics about the property and its surrounding market. A complete understanding of a property should evolve from three specific areas:

    • Legal document inspections
    • Physical property review
    • Market analysis

    Aspects of each of these can be supported by a facility manager, but none more so than the physical review. Physical inspections, in most cases, take place following the review of legal documents. Standardized checklists are an effective and efficient means to make certain that no areas are overlooked. Many managers find it essential to take along a camera and tape recorder to document areas of interest or concern, as well.

    The following are 11 key items a HAS Properties’ manager will review and evaluate prior to acquisition.

    Curb Appeal

    Start with the property’s curb appeal. Is the property presented in the most favorable manner possible? Will prospects looking for space find it attractive for their business operation? Is there deferred maintenance? If so, this may include everything from landscaping to roof repair.

    Sustainability

    Consider making efforts toward reducing the environmental impact of the asset. Such efforts may include alternative energy sources (solar panels or cogeneration, for example), convenience to mass transit, water submetering, stormwater management, and commissioning. In addition to reducing environmental impact, many sustainable measures also increase asset value by reducing operating costs.

    Interior Quality

    What is the status of cleaning, carpet repair, wall coverings, ceilings, and lighting? The common areas of the property should be properly maintained, especially as this minimizes liability.

    Mechanical Records

    Is maintenance on the mechanical equipment contracted out or performed in-house? You should inspect the mechanical areas of the property. Are adequate records being kept of preventive maintenance work? For example, is there a significant chance that a chiller overhaul or compressor replacement will be needed? Make similar determinations for all major equipment.

    Foundation and Exterior

    What is the condition of the building’s foundation and exterior? A careful examination will reveal if there is any cracking or other signs of structural problems. A qualified structural engineer should be hired to perform a detailed review of any of these conditions. A roof survey is essential and helps in budgeting. Make sure to determine whether there is a roof warranty that can be transferred.

    Compliance with Disability Legislation

    Is the building compliant with relevant disability regulations? Any deficiencies should be addressed, and you should take note of how much work may be necessary to bring the property into compliance.

    Property Operations

    When an asset management plan is being prepared for a property, there will be a thorough review of current management and leasing personnel. It is important to spend time evaluating the personnel who will be working at the property. Without question, the success of any plan depends on the knowledge and effectiveness of the people implementing it. This is a good time to assess education and training needs for a facilities staff.

    Vacant Space

    Are all vacant spaces clean and in showable condition? Is additional demolition required to make the space more marketable? Is building out a model suite justifiable? Ask the leasing agent to discuss the current leasing activity on those vacancies, and establish a plan for how the facilities department can support leasing efforts.

    Tenant Feedback

    What do tenants have to say about the property? Perform tenant interviews. This is an important step that is often overlooked. While inspecting the property, the manager should coordinate an effort to take as much time as necessary to hear tenant comments on the property management and maintenance. You can also learn what their expectations are regarding continued tenancy. Generally, tenants do not hesitate to offer their opinions on how they feel the property is being operated. Most recently, security, commitments to conservation, and green energy have become tenants’ top concerns, particularly in large and/or publicly held companies.

    Building Plans

    Where are the building plans? A complete set of plans is important, especially if any alterations are anticipated. As-built drawings are plans drawn or modified after construction has been completed, and they are always preferable. In addition to a hard copy, make sure you know where plans drawn with CAD (computer-aided design) software are stored electronically. CAD drawings prepared by an architect should always remain the property of the building owner. A full set of up-to-date plans should be available to both on-site staff and the asset manager. Some architectural firms maintain that they own CAD drawings and, in most cases, will not release them to other architectural firms.

    Aerial Photo Inspection

    Aerial photos, particularly when available in a time series over a number of years, can be extremely helpful in identifying attributes of your property, local development trends, adjacent property issues that might affect your property, and other maintenance issues such as roofs, parking surfaces, drainage, and landscaping.

     

    Meet Our Team

    Rockstars of HAS Properties

    Sajid Mahmoud CEO

    A little about me: I am a London native, licensed to sell real estate since 1998. My business is built on the referrals of past clients and colleagues from other cities. I would happily provide you with a list of references who would be willing to tell you about their experiences working with me. I work with sellers and buyers in all price ranges – I have now been in the business so long that I am selling houses to (and for) children of clients! I have substantive experience in the oldest established neighborhoods of UK, Turkey and Pakistan cities and also in the newer developments of the suburbs.
    Clients say that my strengths are my knowledge of construction and quality, my use of thorough data and analysis in valuation, my patience during extended buying periods, and that I don’t apply pressure. I don not shy away from pointing out the shortcomings of a property or a neighborhood, and I regularly refer back to your stated goals to keep the process focused and efficient. It is rare that I don’t develop a friendship with my clients during our time together.

    Linkedin Facebook Twitter
    Samatha Grymes Realtor

    As a London native and Realtor, I decided to embark on my journey to serve my clients in the Residential Real Estate realm. My ultimate goal is to make every client a client for life. My background in communication provides me with a solid foundation to be able to listen to my client’s needs. This allows me to tailor my approach in order to provide the best possible outcome for my clients. Whether you are buying, selling or investing, I am eager to advise.

    As my client, you will be provided an incomparable level of personal attention and constant communication. I have an integrated network of affiliated licensed professionals such as home inspectors, mortgage lenders and transaction specialists who deliver any assistance my clients may need during the process. I value the level of trust my clients have in me and have their best interest above all else.

    Linkedin Facebook Twitter
    Justin McDaniel Realtor

    A UK native, Justin McDaniel understands the value of hard work and perseverance. Growing up in London as the son of a realtor, Justin was taught that to be successful he would need to put into life what he wanted to get out of it. With this life lesson internalized at an early age, Justin would find success in almost every endeavor he embarked upon in his adult life.

    Though real estate was not his first career, Justin found success in both the freight industry as well as on the golf course as a sales professional and professional golfer, respectively. While the career in the freight industry taught him how to be a keen negotiator, the golf course taught him how to focus on his goals and never lose sight of them. With these skills he would enter the real estate industry with a bang, successfully closing over £3 million pounds in sales within his first year.

    Now a veteran realtor, Justin’s momentum in the industry continues to grow. As an London resident for the past 16 years, along with his prior careers and a reputation for professionalism and integrity, Justin has developed a wide network of both clients and business partners. This network, combined with his passion for sales, has proven to be the catalyst to his initial and continued success in the industry.

    Understanding that his clients count on him throughout the entire process of buying or selling a home, Justin makes it a point to be available for them. In fact, many of his clients rave about his availability, pleased that he is able to accommodate tough schedules and last-minute requests. This, coupled with his excellent negotiation skills, remarkable patience, and in-depth knowledge of the local real estate market, has set him apart from others in the industry. Focusing primarily on residential sales in the tri-cities and north central San Antonio areas, Justin’s clients look to him for expert guidance when navigating the highly competitive UK housing market.

    Linkedin Facebook Twitter
    Janet Key Realtor

    I graduated from the University of Cambridge with a BS in Economics. I was Licensed to sell real estate in 1983 I began working in field. I was the number one McMASKER agent in the Aberdeen in 1990 and 1991. The Governor at the time, Ann Richards, recognized my contribution in helping jump start the economic recovery of the region. To date, I have over 1200 sales with approximately 850 of those in HAS Properties.

    I believe that there is no substitute for HONESTY, INTEGRITY, KNOWLEDGE and PERSEVERANCE. My motto is “Do it right the first time”.

    Linkedin Facebook Twitter