The correct way to manage a building is for an existing property management company to take care of 3 fundamental aspects:

1. The operational side of day to day activities
2. The financial reporting and management, and
3. The leasing of space

In order for all three areas to be properly cared for by one organization, and reported on in a way that provides the owner with valuable information upon which to make decisions (together with the property management company), a high level of quality information is required.  Very often, this becomes a challenge, however the new product Armadale Property Management is implementing will accomplish just that.

Welcome to the Asset Management portal

A place where we, as Property Managers:

1. maintain records of each and every one of the assets inside (and associated with) the building
2. manage issues related to the building, and
3. manage all projected costs and expenditures for the building

All at a single touch of a button.

And most importantly, we are easily able to provide detailed reports to owners in a way that ensures they stay in touch and in control of their building.

Such reassurance offers the owner a level of confidence that the building is being optimally managed like never before.

Why would this tool be valuable to you as an owner?

There are a number of reasons; however here are the most pertinent ones:

1. You would always like to have control over the planned expenditure
2. You would want to know about the expiration of leases and what is being done to manage that
3. You would want to know the planned maintenance items – for example, how old are certain pieces of equipment (HVACS, roofs etc) and what is the plan to replace or maintain those items?
4. You would always like to know where your leases and other documents are kept for easy access if required
5. It identifies what is current or soon to be deficient and enables you to develop a plan of action with your property manager
6. Ultimately, it will improve efficiencies, speed up decision making, and ensure accuracy of decision because of access to the correct information
7. Most important, it will protect you from losing information about the building (example leases, drawings etc) which should be accessible at all times, thus reducing your risk.
8. Bottom line: you will get a high level of comfort that Armadale Property Management is caring for your building in the most cost effective and efficient way, and allowing you to maximize your investment in this real estate asset.

When will this tool be available?

We are already implementing this tool in Beta right now in a few buildings, and will roll it out to all buildings as soon as possible.  With existing buildings, there is a great deal of work required to document all the relevant information, so that may take some time.  For new buildings that come under our management, we will be implementing this as part of our initial Building Audit Process, something we do for all new buildings we manage.

This is a really exciting new development for our company, and we certainly believe that it puts us at the forefront of Property Management Companies that supply a full range of services to our clients.  It is in fact another reason we believe that our philosophy of “Manage your property. Grow your investment” is something we deliver every single day for the owners that we work for.

If you have any questions, please feel free to contact Liz Whitton at (905)477-8000×253 if you have any questions in relation to this exciting new service.