This November marks the first anniversary of McGraw REALTORS® Commercial Property Management Division. In 2011, Neil Daley was made the Commercial Broker Manager of McGraw REALTORS® Commercial Properties Division. Under Neil’s direction, McGraw Commercial Properties grew to the point where additional specialization became essential. Neil realized that commercial property sales and commercial property management were entirely different in their scope, so in 2017 Neil began a search for the individual to head up this new division. This search led to Susan Walker for the position of Director of Commercial Property Management. Susan’s experience in property management, her degree in accounting, her RPA designation, and her involvement in BOMA made her the perfect choice. She accepted the challenge, realizing the rare opportunity to build something significant from the ground up with such a notable organization.
Focused On A Property Owner’s Needs
Susan knows that a one-size-fits-all approach is not the way to meet an owner’s needs, and her property management team is dedicated to providing personalized, professional services. In its first year, McGraw REALTORS® Commercial Property Management Division has increased their managed square footage to over half a million while increasing average occupancy by over 40%.
Susan’s first priority was getting the properties back on track. “When I started last year, the commercial properties were being managed by the residential division,” Susan tells us. “McGraw has an excellent residential division with 80 years in the Tulsa market, but due to the unique needs of commercial property owners, there were some things that needed attention, notably in the areas of accounting and tenant recruitment.”
Drawing from her background in property management and accounting, Susan collaborated with the leasing agents and together they were able to take one property from 40% occupancy to 100% in less a year. Susan and the owners evaluated the asset and the owners’ objectives to determine the best investments to make in tenant space and the building, adding to the property value and attracting new tenants. Property accounting involves many vital processes. Two major challenges for owners are annual budgets and CAM/OpEx (Common Area Maintenance/Operating Expense) reconciliations. These are areas where proper experience in accounting, financial planning, and creating reasonable projections can have a significant impact on the asset, its value, and tenant retention.
Not All Property Management Companies Are Created Equal
Too often, commercial property owners may be unsatisfied with their current situation but believe all management companies are the same. Susan explains the difference the right property management team can make, saying, “We can be another set of eyes for property owners. We can work with them to explore new ways to increase the value of their investment.” This is especially true when the owner manages the property themselves. “Choosing to invest in real estate has significant advantages, but now they’re a landlord. Taking on the responsibility of the day-to-day operations of investment properties can be time consuming and overwhelming. That’s where we come in. We handle every aspect of managing the asset and the owner enjoys peace of mind and the profits.”
Additional financial and accounting processes performed for you are:
- Maintain all financial records
- Process all payables and receivables
- Provide regular financial reporting to the owner, including but not limited to Profit and Loss Statement, Accounts Receivable Aging, Budget Variances, Stacking Plans, Executive
- Summary of operations and activities
- In concert with the owner, prepare annual operations and long-term capital improvement budgets
- Continual analysis of the financial status and regular forecast of projections in response to market conditions or other influences
Other services you will receive when using McGraw REALTORS® Commercial Property Management:
- Competitive rates
- Oversight and one-on-one communication with the director of commercial property management
- 18 agent/brokers working for you to find tenants for your space
- 3 team members with RPA designations (Real Property Administrators)
- Perform on-schedule inspections of both interior and exterior of properties
- Negotiation of contracts and monitor performance and compliance for regularly scheduled maintenance
- Management of construction projects including tenant build-outs and capital expenditures
- Corporate services
- Combined over 400 years of experience with tenants and owners
“We meet once a week, sharing information, tips, and ideas that will help us meet and exceed the needs of our tenants and owners.” Susan informs us.
A Property Management Team To Help You Reach Your Goals
At McGraw REALTORS® Commercial Property Management, we understand how time-consuming managing your commercial real estate property can be. That’s why we’re helping investors find the right tenants and manage their property efficiently—including clear and accurate accounting.
We oversee the day-to-day operations of all classifications of commercial property from auto parks and upscale industrial parks to retail and office space. Currently, our portfolio includes just over ½ million square feet, and we’re set to exceed 1 million square feet by May of 2019.
The McGraw REALTORS® Commercial Properties team currently has 17 brokers and agents who handle the leasing, listing and selling of commercial property in Oklahoma and across the southern region of the United States. MCP is uniquely positioned to work with nearly 500 residential agents to service every aspect of an investor’s real estate needs. For over 80 years McGraw REALTORS® has provided the utmost in real estate services, maintaining integrity and reliability. McGraw’s Commercial Property Management Division is proud to carry on this impeccable legacy.
Call and tell us what you need to manage your property and make a profit. Stop losing time and money on vacancies and daily tasks. Instead, get the right commercial property management services to help you stay in control of managing your property.