CBM Retail Shopping Center Property Management
call Rick Rivera at 310-575-1517 ext. 201
Overview
CBM specializes in retail shopping center property management. In fact, we deal exclusively with retail operations. No other Southern California property management company focuses exclusively on retail shopping centers.
Experience
Having operated and managed more than 5,000-plus retail shopping centers, CBM's founders and growing management team exercise superior expertise born of more than 40 years of day-to-day hands-on experience.
Attention to Detail
CBM charts pertinent aspects of each client's shopping center's operation. Cost of maintenance per square foot, tenant payment histories, cash flow statements and more apprise our clients each month as to their retail investments' health and performance.
CBM maximizes the value, cash flow, and synergy of our clients' retail centers. Contact us to learn about what we can do for yours.
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CBM's Retail Property Management Philosophy
As mentioned on our About CBM page, our extensive retail real estate experience has brought to light three imperatives to retail real estate success:
Properties under CBM's management rarely see extended vacancies because...
- CBM maintains a database of national, regional, and local tenants, then markets suitable properties to them.
- CBM conducts property-specific, cross-marketing campaigns via direct mail, canvassing, and e-mail and fax broadcasting.
- CBM focuses on the synergy and balance within the property as a whole as well as each section and tenant block, which benefits current tenants and attracts potential future tenants.
- CBM analyzes not only relevant market histories but also current trends in designing its marketing campaigns.
Keep It Organized
Landlords and tenants alike benefit from CBM's well-organized management practices:
- Landlords receive detailed yet easy-to-skim monthly reports (rent, CAM collection, and others). The numbers summarize the investment's short-run as well as year-to-date health and allow for informed decisions to be made, as needed, regarding the investment.
- Tenants receive monthly lease/rent collection statements; the tear-off portion and accompanying return envelope facilitate timely rent collection.
- Landlords have access to knowledgeable real estate legal services should any problems with any tenants arise.
- CBM's streamlined efforts minimize the overhead, time, and energy each party needs to invest, thereby minimizing expenses and maximizing the return on each party's investment.
- CBM handles all tenant relations, from maintenance needs to the occasional eviction proceeding. Landlords receive written updates but are freed from detailed involvement (though always welcome and encouraged, of course, to be involved with their investment).
Keep It Clean
A clean property is an attractive property. Properties under CBM's management stay clean and attractive because...
- CBM regularly inspects every property.
- CBM supervises all CAM (Common Area Maintenance) duties.
- CBM maintains competitive vendor relationships as an impetus for vendors to provide quality services at competitive prices.
- CBM offers 24-hour emergency service.
Contact CBM about leasing your retail property or locating the optimal retail space for lease or sale.
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Keep It Organized
As mentioned above, CBM's extensive retail real estate experience highlights three imperatives to retail real estate success:
- Keep it full.
- Keep it organized.
- Keep it clean.
CBM keeps properties as well as information about them organized through...
- Comprehensive monthly reports (rent, CAM collection, and other) for landlords.
- Real estate legal services.
- Maximized income and minimized expenses.
- Brokering tenant and owner relationship.
Contact CBM about leasing your retail property or defining and locating the optimal retail space for lease or sale.
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Keep It Clean
As mentioned above, CBM's extensive retail real estate experience highlights three imperatives to retail real estate success:
- Keep it full.
- Keep it organized.
- Keep it clean.
CBM keeps properties it manages clean through...
- Weekly site inspections.
- CAM (Common Area Maintenance) supervision.
- Competitor vendor relationships.
- 24-hour emergency service.
Contact CBM about leasing your retail property or defining and locating the optimal retail space for lease or sale.
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Monthly Reports to Owners
Each month, CBM provides its clients with an Operating Statement comprised of the following:
Property Manager's Narrative
In this cover letter, CBM summarizes the property's physical condition and financial performance for the month.
Cash Flow Statement
This income and expense summary shows the month and year-to-date net income, as categorized into Rent, CAM Reconciliation, and other pertinent categories. Expenses are likewise recorded in summary as well as individual categories (Utilities, Landscape Maintenance, Management Fees, etc.).
Cash Balance Statement
A complimentary bank trust account called a CBM Management Account is set up for each retail property we manage. Every month CBM provides the client with a Cash Balance Statement regarding the account. The statement notes current as well as year-to-date beginning balances, net income for the period, and ending balances.
Rent Roll
The Rent Roll gives a snapshot of the retail complex. Each unit in the complex is described in terms of its unit number, size, rent fee, rent fee per square foot, tenant name, lease start and expiration dates, as well as notes on any deposits held. Vacancies, if any, are also listed. Numbers within each category are then presented in total to provide an overall picture of the facility.
Activity Reconciliation Report
This report lists each tenant any balance forward, charges incurred for the month, any adjustments to those charges, payment(s) made and on what date, and any ending balance due. Security deposits and lease start and end dates close off the chart.
Additional Reports Are Available
CBM finds clients occasionally need the following, any of which can be delivered upon request at any time:
- Detailed Rent Roll
- Budget Comparison Report
- Monthly General Ledger Aging Report
- Accounts Payable Distribution Report
- Check Register
- Current vs. Prior Year Income and Expense Report
Contact us if you'd like to receive sample copies of any of these reports.
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Statements to Tenants
CBM communicates with tenants as needed to effectively maintain the retail center's vitality.
Monthly Rent Statement
CBM mails a rent statement and return envelope to each tenant each month. The perforated statements contain a convenient tear-off portion for tenants to mail in with their payments.
CAM Reconciliations
Twice a year CBM prepares Common Area Maintenance Reconciliations for each tenant, enters amounts due on the tenant's aforementioned Monthly Rent Statement, then mails the set to the tenant for speedy payment.
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Property Maintenance and Inspections
CBM property managers know all facets of property maintenance, including what to look for when inspecting the facility to keep it operating smoothly and functionally.
The CBM property manager supervises sweeping, landscape care, garbage removal, steam cleaning, HVAC servicing, graffiti removal, roof maintenance, and other day-to-day maintenance issues. We use a competitive bid process among licensed, insured vendors to provide the best maintenance services at the best prices.
The CBM property manager reports regularly to the property owner on the condition of the retail center. Our Complete Shopping Center Maintenance Check List, which you can view by clicking on "view PDF sample" at right, sums up the facility's condition in an easy-to-review format. The report offers per-item status reports on sidewalks, gutters, sprinklers, parking facilities, lighting, and more, and it contains the manager's recommendations as to the relative priority of any maintenance issues.
