Michael F. Levy, Principal Broker
Grand Lux Realty, Inc.
428 Main St.
Armonk, NY 10504
Email: [email protected]
Re: Building Management Proposal
Following is a proposal to help you with all aspects of Building Management for your building. We want to structure our proposal to meet your needs so that there is minimal effort on Ownership’s part. Thank you for considering using our service.
Grand Lux Realty will:
1. Manage the bank account for Ownership for the building;
2. Invoice, receive, & deposit all rent & additional pass-through (CAM) charges;
3. Collect, manage, & pay all the bills for the building, either by check or by automatic
payment, including: taxes, insurance, & mortgage payments;
4. Help Ownership brainstorm methods to increase Cash Flow & Return On Investment.
Possibilities include refinancing at a lower interest rate or increasing pass-through
charges or creatively decreasing expenses.
Grand Lux Realty will provide a monthly analysis of each property for Ownership including:
1. A narrative of the pressing & current issues;
2. An Income & Expense Analysis showing monthly & year-to-date results;
3. A reconciled check register of all checks in & out;
4. A copy of the current bank statement;
5. An annualized Cash-On-Cash Return On Investment (COCROI) Analysis for
6. Manage the amount of reserves that need to be kept in the bank account;
7. Send to Ownership a check of the free cash flow.
Grand Lux Realty will manage the tradesmen & subcontractors needed to take care of all issues & repairs in the building on behalf of Ownership including:
1. Contract with & manage some trades on an ongoing basis, for example snowplowing
2. Obtain competing bids for work to save Ownership money for repairs & expenses;
3. Create relationships with a Manager for each tenant to build communications in an
effort to resolve future issues more easily & save Ownership money;
4. Work to resolve pending issues;
5. Inspect the building & grounds on a daily or as needed basis.
6. Pick up trash & keep grounds neat & clean on an as needed basis.
Grand Lux Realty has extensive experience & relationships with Building Departments & Building Inspectors. We will work with the Building Department to manage all Building Permit, Inspection, & Certificate of Occupancy issues on behalf of Ownership including:
1. Ensure that all Certificates of Occupancy are issued;
2. Apply for Building Permits;
3. Bid out different trades & subcontractors to obtain the best prices for Ownership;
4. Manage, schedule, & pay the subcontractors;
5. Work with the Building Department to ensure a hassle-free process for Ownership.
Grand Lux Realty charges 5% of gross monthly income & provides superior customer service, however we will be happy to beat whatever price you have for these services.
We are excited about this opportunity to create an affiliated business relationship with you. We look forward to years of good times together. Don’t forget that this is just a proposal. We can easily adjust this proposal or our price to better match your needs.
Michael F. Levy