1. Make a full inspection of the critical documents and real estate and provide a concise recommendation for a course of action to preserve and enhance the value of the real estate.
2. Preserve and manage vacant, abandoned, and tax-delinquent property. The properties are acquired primarily through foreclosure, and held until a new owner is identified. Identify any mold remediation and infestation.
3. Monthly maintenance coordination and recommendations for short-term and long-term property benefits. Our goal with maintenance is to bring the asset to marketable standards. This includes janitorial services, landscaping services, pool maintenance, pressure washing, and construction related services, including hurricane preparedness, and improvements that are essential to enhance value and curb appeal.
4. Efficient administration of day to day operations.
5. Monitor insurance policies and ensure coverage is in place at all times.
6. Keep up to date with mortgage and association payments and timely payment of all operating costs associated with the property.
7. Contract licensed and insured vendors for maintenance and repairs with warranties in place. Most services are done by in house service employees that are employed by Magnum.
8. Respond timely to tenant needs and provide volume-based prices for the owner.
9. Investigate tenant complaints and service requests in a punctual manner.
10. List and sell and asset for sale as per the owner’s directive.

Work orders: track the inventory, materials, labor, and other information related to the requested work on a property or a unit within that property. The software used at Magnum lets us enter, edit and post work orders, add specific text instructions for staff and vendors, document the status of any work project, and use work order reports as dispatch tools.

All maintenance and repairs are commenced after written approval by the owner or financial institution in no less than 24 hours after receipt of written authorization. Written reports can be provided after all repairs have been completed mid-month.

Magnum uses a property management system that provides the following benefits:

• Automatic dual-cash and accrual accounting.
• Organizes multiple layers of custom-defined accounting books.
• Permits intercompany functionality.
• Magnum utilizes the Budgeting and Forecasting tool, which allows us to project income and expenses quickly and efficiently. The software features significantly enhance variance reporting capabilities and streamline the budgeting process. For example, we are able to create a budget and revision worksheets using historical data, models, assumptions, and global percentage increases.
• Multifamily Housing -Magnum’s powerful property management and accounting system effectively caters to all your multifamily business needs including prospect workflow, revenue management, and online leasing.

Security

• Controls user access to features, menus, screens, and fields.
• Provides password protection per user.
• Allows/denies access rights to specified properties.
• Protects secure data such as vendors and chart of accounts.

Reporting

• Budgeting & Forecasting.
• Detailed analysis and comparison of future income and expenses. It streamlines budget preparation and provides flexibility by creating custom models.
• Maintenance Management.
• Inventory Control & Fixed Assets.
• Portfolio Accounting.
• Asset Management.

Accounting and Financial Reporting maintains property financials on fully integrated real estate accounting systems. Including rent collection, accounts payable, cash management, financial reporting, tenant billing and budgeting, or customized reports.

Our monthly reports include the following:

• Aged Owner Balances – Report Summary.
• Collection Report for the month reporting.
• Owner Summary for the reporting period.

Financial Statements

• Cash Receipts Journal.
• Balance Sheet.
• Income & Expense Statement.
• Reserve Statement.
• General Ledger Trial Balance.
• A/P Distribution to G/L Report.
• Aged Accounts Payable Summary.
• Bank Account Summaries.
• Cash Balance Summary.

Financial Reports:

• Annual Budget.
• Reserve and Maintenance- including preventive and code compliance.
• Capital Improvement budget.
• Tenant Improvement Budget.
• Yearly Tax Preparation and year end documentation.

Administrative:

• Tenant Profile.
• Eviction Notices and Processing.
• Lease Summaries based on annual lease review.
• Lease renewals, CAM collection, CAM reconciliation, monthly sales tax payments.
• Review of Insurance Coverage and Expiry dates.

From deal tracking to lease management to calculating recoverable expenses, Magnum’s commercial software system is a cohesive management and accounting solution for your office and industrial portfolio.