Regular information ensures you peace of mind and confidence.

In the previous article we highlighted the need for Initial Reporting.  Today we will discuss how Ongoing Reporting will allow you to have a comfort level that your property is appreciating in value.  Why?  Information is power, the more relevant information you have the better your ultimate decisions will be.  And, if you have great advisers that can interpret the data for you, the better the likelihood of your decisions being optimal.

The bottom line is that with effective Ongoing Reporting you will never feel that you are floating down the river without a paddle.  You will always be in control and will never be alone in your decision making.  Now that is a reassuring feeling when dealing with a large commercial asset.

So what kind of information can you look forward to with the Ongoing Reporting?

We have found that there are specific aspects that are unique to each owner and it depends largely on three things:

1. Owner or Management’s preferences
2. Owner’s audit requirements (audit/review/notice to reader)
3. Lenders requirements
4. Other regulatory requirements

While reports can be seen as largely standard or consistent, the above four aspects allow the reporting to be customized to meet all the above needs.  The advantage to the owner is that they get easy-to-read reports that they become familiar with, together with the reassurance that any external requirements will be dealt with as part of the normal reporting process.  Once all the specific aspects have been understood, they automatically get incorporated into the Ongoing Reports.

Ongoing Reporting is variable in three major ways

And these ways are largely dictated by the needs of the owner and the requirements that the owner needs to meet.

1. Frequency (monthly, quarterly/annually)
2. Urgency (how soon after month-end/quarter-end/year-end)
3. Content (financial statements and schedules, leasing information, operational information)

How do we meet these requirements?

Firstly, we discuss the owner’s needs and lay out his requirements.  Then we customize the reports and schedule them accordingly.  We find that the following meets most owners’ requirements:

1. Monthly reporting – these are usually fairly basic financial reports that provide insight on the financial health of the property
2. Quarterly reporting – is more comprehensive and provides insight beyond the basic financials, but also include Armadale’s General Manager’s commentary that addresses pertinent aspects from the past quarter.
3. Annual reporting – represents a higher level, strategic review of the property, its financial statements and its performance including leasing and other operational information.  Additional insight is also provided that is forward looking, including things like long-term improvements, environmental, re-zoning and other opportunities that may have an impact on the property’s profitability and ultimate value.  The General Manager’s report in this instance is more comprehensive and interpretive, and will provide the owner with the kind of information and recommendations that will make decision-making that much easier

“Manage Your Property; Grow Your Investment” – it’s our guiding light at Armadale Property Management, and it provides you, as the owner of a commercial property with the assurance that your investment will be managed with the long term in mind.  It means that we do not only see ourselves as basic reporters of historical information, but as partners with you in your property’s overall health and value.