Understanding a rental property’s full revenue-generating potential can be a huge challenge for even the most sophisticated real estate owner. That’s because taking the time to fully grasp industry trends, competitive pressures, rapid changes in tenant or buyer expectations and opportunities for innovation is extremely difficult when trying to manage an active portfolio.
G&S Group of Companies excels at assessing, envisioning and realizing a property’s full potential by custom-designing strategies that address the short and long-term needs of its owners.
We breathe new life into projects by conducting an audit of a wide-range of performance drivers. They might include a property’s financial and physical requirements, current rental, service and cost levels—and how to drive improvements in each—as well as the potential to re-brand aging or underperforming properties. Then there are the opportunities to increase net revenue streams by examining income-generating potential for vacant land around, as well as space within, a property, not to mention other untapped income streams. We also examine opportunities to improve the appeal of common elements and unit features to help maximize a property’s revenue potential. Minimizing unit vacancy and turnover ‘downtimes’ and developing cost-saving annual budget and property-management plans are also key focus areas of our audits.
Once our project assessment process is complete, our team analyzes its findings and produces a comprehensive, fully actionable plan designed to drive immediate results. The goal: finding unimagined income potential across any property portfolio.
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As part of G&S Group of Companies’ comprehensive Integrated Real Estate Model, we have the ability and expertise to help property owners identify opportunities to maximize income and improve asset performance, while overcoming virtually any financial challenge they may face. We do it by conducting full portfolio audits and producing comprehensive financial reports that accurately predict future cash flow, provide line-by-line operating cost details and monitor operating budgets to track real-versus-actual budgetary expenditures.
Importantly, decades of experience and entrenched relationships with Canada’s major lending institutions have allowed us to negotiate preferential financing arrangements for our partners. We’re also well-versed in mortgage negotiation and administration, as well as tailoring financing terms to suit any property owner or partner’s needs.
In addition, our Integrated Account Reporting System offers fully-automated accounting and property management functionality with the convenience and security of segregated bank accounts and statements. Our realty administration and audit team will review all relevant realty tax documents and apply for reassessments where possible to lessen a property owner’s tax burden. They’ll also help manage risk by ensuring that owners have comprehensive liability insurance and all appropriate Workers’ Compensation coverage.
We regularly consider joint-venture opportunities to develop or reinvigorate properties with density-intensification or increased-income potential that requires capital investment. No matter the nature of the joint-venture arrangement, we embrace a fully open-book approach and provide regular in-person management reports to our partners—all with a focus on helping to ensure their financial success.
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Achieving peak property performance
Our team has the expertise to turn underperforming properties into portfolio success stories by producing highly-profitable, stabilized tenancy rates—with potential for consistent rental increases—across each property. That requires the constant monitoring and adjustment of key trends and achievable rental rates, while assessing the competitiveness of each property within a portfolio. We leave that task to our highly-skilled rental and marketing professionals. They not only find innovative new ways to promote properties, but also develop creative and targeted advertising programs and maintain informative, transparent tenant communications through constant in-person interactions or via our regularly-updated tenant website.
Of course, maximizing tenant retention is a key focus for any property owner.
That’s why we’ve developed innovative programs such as a Resident Action Line to report and manage problems without delay, a Rental Retention Program that incentivizes top tenants to provide referrals to new prospects and a Rent-up Program that encourages top tenants to graduate to upgraded levels of accommodation within our portfolio. In addition, our Tenant Satisfaction Program elicits constant tenant feedback to help improve service across our properties.
To ensure tenant retention, our in-house legal and collection departments help property owners manage risk by closely vetting and approving renters’ credit profiles, then providing speedy collection services to ensure consistent, stable cash flow.
Keeping costs under control
Our expense optimization systems and asset management teams offer a fully transparent and proactive approach to assessing a property’s operational and aesthetic requirements. Our cost-efficient Volume Purchasing and Tendering Program acquires the best materials and recruits the industry’s leading consultants, contractors and service providers to ensure the highest quality workmanship possible. Our work includes assessing, tendering and negotiating short- or long-term contracts to ensure that projects are completed on time and on—or under—budget, every time.
Our Human Resources team is also indispensable on this front, effectively managing everyone from contractors to on-site property management and maintenance personnel—and always with an eye on controlling costs and improving bottom-line performance.
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At G&S Group of Companies, our team is committed to the cost-effective design, implementation and ongoing management of capital improvement projects. The aim: to deliver high-quality upgrades which stand the test of time and relieve property owners of the burden of constant capital investments at a reasonable cost.
We make it happen by employing our comprehensive Project-Management Process.
First, we assemble the right team—think architects, municipal stakeholders, lawyers, site-services, electrical, mechanical and structural engineers, landscape architects, interior designers, marketers, a sales and leasing team, and specialized partners such as environmental, geotechnical, code, energy and noise consultants—to complete the job on time and on or below budget.
We ensure our consultants’ recommendations are appropriate and balanced by tendering multiple approved contractors per operational requirement, then review and finalize fees and payment structures to provide cost certainty. Our clients enjoy the full benefits of G&S Group of Companies’ Volume Purchasing and Tendering Program, allowing them to select from an elite roster of highly-qualified consultants, contractors and service providers, while we manage the tendering and negotiation of short- and long-term contracts to maximize cost efficiencies.
Once a project is underway, our team conducts regular on-site inspections and carefully scrutinizes work, then consults with clients before giving final sign-off at each stage. This often involves conducting energy consumption reviews and identifying areas to better manage energy-related costs such as minimizing heat and water loss. Once complete, we review all work and ensure complete client satisfaction before providing final project sign-off.
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