Commercial Property Management
Tan & Associates, Inc. provides full service property management, accounting, and leasing for a portfolio of approximately 700,000 square feet of retail, office, and mixed-use properties. We also help facilitate the development and construction of over 300 acres of land. This portfolio includes national tenants such as Food Lion, Dunkin Donuts, Subway, Rite Aid, United State Postal Service, Rent–A–Center, and Chevron Oil, as well as many regional and local tenants.
Management and Property Operations:
- Handle and respond to all tenant calls within a reasonable time frame
- Develop a professional working relationship with tenant and act as a liaison between property owners and tenants
- Collect all rent due to landlord pursuant to the lease
- Generate and send monthly tenant statements and process monthly tenant bill–backs
- Work closely with attorneys for delinquent tenant accounts
- Inspect properties regularly to correct any deficits and proactively resolve any maintenance or operation issues and/or repairs
- Inspect vacant spaces regularly and ensure they are ready for viewing by prospective tenants
- Competitively bid and procure all third–party service contracts, building materials, and supplies for successful operation of properties
- Monitor performance quality levels of all service contracts and vendors
- Staff maintenance technician to handle minor service issues and repairs
- Obtain and review certificates of insurance required by tenants, vendors, and contractors
- Administer and manage all aspects of leases between landlord and tenant including, but not limited to, obtaining certificates of insurance, monitoring tenant sales reports, and billing and collecting percentage rent, where applicable
- Prepare monthly financial statements and executive summaries for owners of properties
- Monitor cash flow statements and expenditures to minimize budget variances
- Handle prospective tenant calls and make appointments to show space and tour properties
- Knowledge of properties, vacancies and area competition to ensure property is being marketed accordingly
- Review advertising and marketing plan regularly. Incorporate new ideas to advertise property, when necessary
- Handle negotiations of lease terms between landlord and tenant
- Prepare legal documentation such as leases, lease renewals, assignments, and amendments
- Complete landlord lease obligations with tenant, such as walk-throughs and inspections of leased premises
Accounting & Tax
- Develop annual operating budget for each property
- Complete yearly property Common Area Maintenance (CAM) reconciliations, if applicable.
- Bill and/or credit tenant rental accounts accordingly
- Prepare year–end financial statements, executive summaries, and tax returns
Neighborhood strip center located in busy Baltimore City.
Asia Plaza Shopping Center – Retail, Maryland
Neighborhood strip center located right on Route 40 in Catonsville, Maryland. Home to GW Supermarket, Cricket Communications, Meineke, Jay’s Auto Service and Beauty Lofts.
Crystal Plaza Shopping Center – Retail, Maryland
Busy neighborhood center located right on Route 197 just off of the BW Parkway in Laurel, Maryland. Home to Food Lion, Rite Aid, Dunkin Donuts, Rent-A-Center, US Post Office, Subway and more restaurants, salons and services.
Stand alone restaurant with land for future development.
Suburbia Building – Office, Maryland
Seven story office building located right on Route 40 in Catonsville, Maryland which is home to a mix of office and retail tenants.
Security Plaza Shopping Center – Retail, Maryland
Neighborhood center located in the Woodlawn area of Baltimore near Security Boulevard. Home to a great mix of restaurant, service and entertainment tenants.
York Plaza Shopping Center – Retail, Maryland
Strip center located right on busy York Road.
Wind River Condominium Association – Condominium, Maryland
Located in Gaithersburg, Maryland
Opened in November, 2011 neighborhood center located in Falling Waters, WV. Home to Food Lion, Red Lantern, Whale of a Wash Laundry, King’s New York Pizza and AC&T.
Lakeridge Center – Retail/Office, Florida
Neighborhood center located in Clermont, Florida. New to the portfolio, currently leasing.
Florida Sonic – Florida
Centrelee Office Park – Virginia
Office condominiums for sale located on Lee Highway in Centreville, Virginia
Bridge Hill – Virginia, GWR – Maryland, Homeplace at Riverside – West Virginia, Horse Pike – New Jersey, New NJ – New Jersey, Market Place – Pennsylvania, Winebrenner – West Virginia, projects for future development.