Asset Management

A successful property owner will commonly hire an asset manager to act as a liaison with their property management and leasing companies. As an Asset Manager, we add value for our clients by overseeing proposed lease deals, capital improvements, and income and expenses, using industry standard benchmarks adjusted for the market conditions where the asset is located.
 

Tenant Representation

We effectively combine the wide range of demographic and market data available on the internet with intimate knowledge of available locations for our clients. Often we are aware of available properties that are not formally on the market.
 

Lease Administration

Every lease is a long-term commitment that is usually not revisited unless the Landlord or Tenant has a problem. Legal interpretation is usually expensive and unavailable in a timely manner. Most leases also contain critical dates that obligate the Landlord and Tenant. In our scope of services for Lease Administration, we track these dates to ensure, from the Landlord�s perspective, that every dollar that the lease allows, such as rent increases and proper billing of extra charges like utilities, real estate taxes, and common area charges, is being collected. On the Tenant�s behalf, we make sure that payments are being made only for obligations set forth in the lease. Many Landlords use common area charges as a profit center. Is the Landlord protesting real estate taxes? If the property is operated on a triple-net basis, they probably are not because the Tenant reimburses for these charges.
 

Operating Cost Audits (CAM & RET)

This service is an extension of Lease Administration and Asset Management performed in much greater detail. We usually are hired for this service by the Tenant. Pass-through expenses, such as common area charges, real estate taxes, insurance, and utilities, can represent 10% to 40% of your total occupancy cost, and the Landlord may occasionally use these income categories as profit centers. We closely analyze your lease along with periodic billings from the Landlord and compare them to the benchmark set for these services in the particular market. Even if your lease is set up as �gross� rent, we look at the overall property to see if it is properly managed. The last three tenants we relocated, who moved within the same market, were motivated, not by lower rent or more space, but rather by poor maintenance in the spaces they previously occupied.
 

Development

There are many complex steps in the development process: site selections, communication with the governing municipality, right-to-build process, engineers, architects, contractors, banks/loans, and many others. The professionals at Syracuse Realty Group can help in guiding you through this confusing maze.
 

Risk Management

All property owners know that insurance costs are a volatile operating expense and coverage is not always easily obtained. With over 20 years of property management experience, we can perform an audit identifying potential risk management liabilities and estimate the costs to remediate these problems. This proactive approach is welcomed by your insurance carrier and can help to stabilize premiums in an unpredictable environment where costs are spiraling upward.
 

Business Brokerage

Buyers / Sellers / Business Plans � Syracuse Realty Group also brokers the sales of businesses and prepares business plans for clients� use with lenders and investors. Our principals, Mr. Crisalli and Mr. Arcuri, are accountants with a comprehensive understanding of real estate finances as well as the financial statements of businesses.
 

Legislative

Legislative changes on Federal, State, and local levels can affect the operation of your real estate assets. An example of this type of legislation involved the Americans with Disability Act (ADA), which resulted in mandatory compliance audits of all types of properties and the implementation of retrofit plans. Not all properties required changes, but with the complex wording in the legislation, most savvy real estate owners hired real estate professionals like Syracuse Realty Group to complete these audits and provide implementation plans.