ASSET Mangement

The wealth of talent at Walter & Samuels, Inc. affords us the ability to be among the best third-party asset managers in the industry; indeed we are often referred to as the "Realtor's Realtor." As owners ourselves, we appreciate the importance of closely monitored aged receivables, lease expirations, and budget variances. Realizing the importance of asset management to our third party clients, we will provide you with sophisticated monthly reporting packages accurately reflecting the financial status of the buildings we manage for you.

These colorful Excel reports analyze the income and expense variances for the proceeding month. They clearly depict the variances between monthly charges and receipts, both on a building and individual tenant level. In addition, they permit annual budget monitoring by identifying variances between year-to-date budgets and year-to-date actuals for both income and expenses. At the tenant level, separate schedules show variances between total charges and receipts, as well as individual variances on major charges such as rent, real estate taxes, electric rent, and porters' wage charges. Finally, the reports present the current rent roll, as well as a monthly general ledger, cash flow statement, receivable summary by account, and aged receivables statement.

Each building is thoroughly analyzed as individual managing agents, leasing agents and building managers are consulted to assess building conditions for the annual budget report. The previous year's cash flow including accountants' financial statements are reviewed. A consensus is developed for future expense levels, required capital improvements, lease rollover, tenant improvement costs, vacancies, and market rents for the upcoming year. The Argus computer program assimilates all inputs and assumptions. Argus projects a line-by-line income and expense cash flow for the next year. The budgets are assembled using Excel to facilitate presentation, and printed in color and bound. Each budget is presented on an annual and monthly basis, with backup pages that reflect income and cost projections on a tenant-by-tenant basis.

Asset management continues to be one of the vital services offered by Walter & Samuels, Inc. We believe that attention to detail, accuracy and presentation are essential qualities, not extras.