Property Management Associates

Energy Retrofits

Thomas Spear — Wed, 15 Feb 2012 23:48:14 +0000

In managing your properties it is very important to keep up on the myriad of energy savings programs available. They might be from any of your utility providers including; DWP, So Cal Edison, San Diego Gas & Electric, and any municipal utility provider. Most programs have a specific time frame, item (lights, water) and dollar amount related to them. It is easy to find your utilities’ web sites and all the information will be posted there. Many will provide you a regular update and notice to your respective emails. These programs not only benefit the environment, but also add to the efficiency and effectiveness of utility use and bottom line dollars to owner possibly through their professional residential or commercial managers.

Here is a sample LADWP Newsletter:

Commercial Lighting Efficiency Offer (CLEO) Program Update

As of August 31, 2011, there has been a change to the LADWP energy efficient lighting retrofit incentive program known as the Commercial Lighting Efficiency Offer, or CLEO.Under the new policy, existing lighting fixtures employing High-Performance ballasts are ineligible for rebate consideration.The change applies to CLEO rebate applications received on or after August 31, 2011. The new 2011-2012 CLEO application forms now include the revised “Terms and Conditions” and must be used along with the required spreadsheets.For more information on the CLEO program or to download application forms, please CLICK HERE.

LADWP Energy Efficiency Rebate Programs

LADWP has several programs for customers who want to reduce their electricity usage and their monthly utility bills. If your business has lighting, heating, ventilation and/or air conditioning, motors, and chillers, we may have a program that is right for you.
For more information on these programs and financial incentives currently available, visit www.ladwp.com.

LADWP’s RCx Express
(Retro-commissioning) ProgramRestore Your Building to Optimal Performance and Lower Your Electricity Costs

Commercial customers can lower their electricity bills and building operating costs by implementing one or more of the 13 measures in LADWP’s RCx Express (Retro-commissioning) Program. This is a simplified program that requires minimal system data and uses “prescribed” savings calculations, which makes the process much easier. The process ensures that all building systems perform interactively according to the contract documents, the design intent, and the owner’s operational needs.

Find out more about LADWP’s RCx Express Program >>

LA Commercial Building Performance PartnershipSaving Money Saves Energy. Bottom Line.

Do you want to reduce costs, add to your bottom line, and make your property more energy and water efficient?The LA Commercial Building Performance Partnership offers a suite of FREEresources designed to support holistic building performance upgrades, including:

FREE comprehensive evaluation of your property, including an Energy Star benchmarking report, and recommendations performed by engineering firms;
FREE facilitated access to LADWP and Southern California Gas Company rebates and incentives, as well as state and federal tax credits, and;
FREE introductions to third party financing options, so you can use your capital for other strategic investments.

Find out more about LA Commercial Building Performance Partnership>>

LADWP’s Non-Profit Retrofit Services Program Moves Forward

The LADWP has joined forces with the non-profit business community to make L.A. the greenest big city in America. The Non-Profit Retrofit Services program offers non-profit businesses an opportunity to assess and upgrade their facilities at no cost.

Find out more about LADWP’s Non-Profit Retrofit Services Program>>

Landlord versus Tenant

Thomas Spear — Mon, 23 Jan 2012 23:23:35 +0000

One of the most critical areas in apartment or commercial management is the relationship established between Landlord and Tenant. It is also an area where a Landlord has the least control, unlike deciding vendors or services. The Landlord and Tenant relationship is critical as this helps define the most important aspect of real state ownership, income. Viewed in that light, this relationship, like all others requires nurturing. The natural inclination is for a Tenant to feel that they are paying too much for too little. Conversely, the Landlord feels that the Tenant is paying too little for what is being provided to them. Thus, we have the perfect formula for conflict. How then does one approach this to create the proper ‘real estate’ relationship?

The best approach is to be the Landlord that views the Tenant as an important client. They are, after all, responsible for the cash flow or any residential or commercial property. This means a respectful and businesslike approach, but not one where any unnecessary advantage is given. The lease is the lease. The second part of the equation is to remember this is a critical business, commercial relationship and not to personalize no matter what issue or attitude is presented from a Tenant. The final part is to provide all services (repairs and maintenance) in a quick and professional manner. Nothing makes a Tenant angrier than a broken item being left for a long time. It makes the tenant feel unimportant and unwanted. A broken faucet will cost the same to repair today, as it will next week. So why not do this today?

Any thoughts on success stories or strategies will be welcomed.

Managing Expectations – Real Estate Investments and How They Perform

Thomas Spear — Mon, 16 Jan 2012 23:28:39 +0000

The New Year is the perfect opportunity to reflect; both backwards and forwards. As you look at your real estate investment(s) and how they performed during 2011 are you pleased? Granted, no one ever has sufficient cash flow, but many issues that might lead to disappointment are well within your control.

First of all, it is critical to understand why you invested in real estate in the first place. In addition to the pure joy of ownership and portfolio growth, were your goals and objectives reasonable?

Quantifying Expectations Through Budget

The expectations for a real estate investment are best quantified through a thorough budget. The budget takes into account all items of expenses including account historical expenses, known expenses and projected expenses. This then provides an educated projection as to what a property will cost. Of course, expenses need to include taxes, insurance and mortgage costs.

Income, A Less Than Predicable Equation

The other side of this equation is the income side. This tends to be a bit less predictable than the expense side. An owner needs to take each space or unit and make assumptions relative to each space. For example, if a suite is under a lease contract through 2014, than the income will be simple to project. If an apartment is leased on an annual or monthly basis, the overall vacancy and market rents must be taken into account. In any market the income assumptions are critical and need to be realistic, not wishful thinking. If you are getting $2,000 per month for an apartment rented in 2011, if there any market reason to expect this unit to increase or decrease when available? What are the market concessions for the unit, how much down time will there be, etc? Therefore, quantifying each individual suite and/or unit is critical to obtaining an accurate budget. Combining the expenses with the income should then provide an accurate cash flow projection, i.e. that which we all care about.

Assessing Assets Performance

Now as to the reflections; if you had a budget last year was your asset’s performance in line with this. If so, than the expectations were met and there should be some serenity in your life. If not, what items were missed and why? Those can then be used to adjust the budget for 2012 and provide a basis of reasonable future expectations, but also better understanding of your asset.

HAWTHORNE APARTMENTS

admin — Wed, 06 Jul 2011 23:15:59 +0000

435 Hawthorne Street
Glendale, CA 91204

Contact Manager at (818) 409-0523 or
hawthorne.apts@wemanageproperties.com

WESTWOOD APARTMENTS

admin — Wed, 06 Jul 2011 21:59:36 +0000

3712 Westwood Boulevard
Los Angeles, CA 90034

Contact Manager at (310) 287-0474 or
westwood_apts@wemanageproperties.com

LANARK APARTMENTS

admin — Wed, 06 Jul 2011 21:29:28 +0000

21827 Lanark Street
Canoga Park, CA 91304

Contact Manager at (818) 712-9457 at
lanarkapts@wemanageproperties. com

GLENOAKS APARTMENTS

admin — Wed, 06 Jul 2011 21:22:15 +0000

650 Glenoaks Boulevard
San Fernando, CA 91340

Contact Manager at (818) 442-8137 or
glenoaksapts@wemanageproperties.com

NORDHOFF APARTMENTS

admin — Wed, 06 Jul 2011 21:10:02 +0000

15537 Nordhoff Street
North Hills, CA 91343

Contact Manager at (818) 712-9457 or
nordhoffapts@wemanageproperties.com

PARK PLACE APARTMENTS

admin — Tue, 05 Jul 2011 18:37:44 +0000

43253-43271 20th Street West
Lancaster, CA 93534

Contact Manager at 661-942-6092 or
park_placeapts@wemanageproperties.com

WHITSETT COURTYARD APARTMENTS

admin — Wed, 29 Jun 2011 22:10:20 +0000

6065 Whitsett Avenue
North Hollywood, CA 91606

Contact Manager at (818) 760-9867 or
whitsettcourtyardapts@wemanageproperties.com