Commercial Property Management - Services

Full Service Commercial Management:

FEE: 5 % of rent (excluding CAC)

Commercial management fee includes:

• Fiscal year end creation of common area cost (CAC) budget and all necessary accounting and reconciliation on a yearly basis.
• Collection of rent and CAC each month.
• Rent and CAC is deposited in a dedicated operating account exclusive to the complex.  Payment schedules are automated and customized to the owner’s needs.  
• A monthly cash statement of income and expenditures is issued electronically along with bank statements.
• Customized monthly, quarterly and annual accounting packages tailored to the owner’s needs.
• Regular property inspections.
• PEKA proudly uses industry leading software (Yardi Voyager) and efficient office wide paperless processing.
• Administration and enforcement of all rules and regulations affecting the property including bylaw enforcement as required.
• Pursuing delinquent rents promptly and advising owner if, and when, legal action is necessary in collection of overdue rents.
• Eviction processing services.
• Maintaining records relating to the property on file at PEKA's office and electronically.
• Immediate attention to emergencies and timely attention to complaints.
• Administration of all property and tenant needs.
• Contracting third party  trades for services or preventative maintenance contracts as needed.
• Annual auditing of third party trades: insurance, WCB and Town of Canmore Business License requirements.
• Management of all related utility accounts and other routine expenses to the property.
• Advising the owner of major maintenance needs of the property and of any major expenditures recommended or which may be required to meet legal and/or safety standards.
• Twenty-four hour agent availability for emergencies.
• Advising tenants of their responsibilities for all aspects of their respective leases.
• Completion of inspection reports on the property with incoming and departing tenants. Returning the security deposit along with any interest earned (if applicable), less any chargeable damages to the Tenant within the legal time frames as outlined in the Tenant’s specific lease.
• Oversee all aspects of tenant transitions.

PEKA’s commercial management team proudly has no up charges for:

• Notices / deliveries
• Organizing and inspecting maintenance work completed
• Photocopying/Mail
• Associate time in administering and attending all inspections (tenant and owner)
• Associate emergency response (at any time)
• Absolutely no hourly charges for normally occurring business while managing your rental property
• No management charges if the unit is vacant

Full Service Commercial Leasing:

FEE: 5% of total lease (excluding CAC)

PEKA's Commercial Leasing Fee includes:

• PEKA and the Owner will enter into a standard real estate listing contract for each lease space, detailing all terms, obligations, and requirements thereof.
• PEKA shall determine the rental value of your property and your specific requirements, and shall advise of any changes in the market conditions that affect your property. This shall include an estimate of common area costs, net and gross areas, and field measurement of lease spaces, signage requirements, tenant improvement specifications, tenant improvement allowances and GST, and shall clearly indicate the Total Monthly Payments.
• PEKA shall prominently list the property for lease on behalf of the owner at the owners expense. PEKA shall further advertise the space for lease in PEKA's general advertising program at no cost.
• PEKA shall place For Lease signage on the space/project.
• PEKA shall clearly advise the owner of the provisions of DUAL AGENCY and shall obtain written permission to act as dual agent.
• PEKA shall contact potential tenants, assist the tenants in the preparation of an offer to lease, and show the property to qualified applicants.
• PEKA shall check references and obtain lease qualification documents and/or lease guarantees/personal guarantees.
• Owner shall provide PEKA with suitable lease for prospective tenants. PEKA will negotiate and prepare the leases in triplicate for execution on behalf of the owner (solicitor-accepted format).
• PEKA shall negotiate the terms, conditions, and requirements of the lease on behalf of the owner, which shall include the detailing of all tenant improvements by the lessee. PEKA shall further provide the necessary follow up and inspections of tenant improvements for inclusion in the lease documentation.
• The leasing commission earned shall be 5% of the total lease payable (excluding CAC).
• Commissions will be due and payable upon commencement of the lease.
• PEKA offers full real estate co-operation providing for a 50% commission split with a lessee's licensed agent’s real estate broker that acts on behalf of the lessee for the leasing of space, or alternatively, PEKA offers a referral fee in the amount of 1% to the agent’s broker for the referral of a customer to PEKA that completes a leasing transaction.
• A lease renewal commission of 2.5% of the lease value shall be earned for the negotiation of lease renewals with existing tenants.
• PEKA shall complete an occupancy inspection report on the property with the incoming tenant.

Costs not included in the Commercial Management/Commercial Leasing fees:

• Legal Fees
• Audit Fees