Our services include the following:
Building Management Employees
Transition and Staffing
Building Maintenance and Engineering
Prattco Creekway Management uses an approved list of vendors, general contractors and subcontractors for contract service work as well as project work. We check the qualifications of all vendors, contractors and sub-contractors on our vendor list. In addition, we establish quality and performance standards for products and services.
The qualifications we check include:
- Comprehensive insurance
- Prior client references
- Better Business Bureau reports
- Accredited industry organizations
- Proof of financial stability
- Vendor track record
We will comply specifically with the owners reporting requirements as well as offer any additional reporting capabilities as needed. We take great pride in our flexibility and responsiveness. We will develop a format for comprehensive monthly reporting to assure the owner that all operations are proceeding according to approved plans. A complete set of financial documents will present the fiscal position of the property along with detailed presentations on leasing and management activities. We will use our accumulated experience in managing similar facilities to obtain optimum results from management efforts. These reports will help to ensure the consistent pursuit of the owner’s stated goals and objective for the property
Building Management Employees
Prattco Creekway Management will provide a fully qualified management team for the management of operations. Prattco Creekway Management successfully recruits, employs, and continuously trains managers, engineers, and support staff to provide building owners with the highest quality services available. Because recruiting is the foundation upon which our business depends, our employee candidate base includes a large number of industry professionals who are drawn to Prattco Creekway Management due to our professional reputation and observed performance. We recognize our employees’ orientation to service and professionalism through feedback from tenants, contract vendors, and owners.
Our meticulous employee recruiting process has helped us to retain exceptional professionals and extremely low turnover. We initially identify employee candidates through their education, experience and professional reputation. Senior staff members interview prospective employees for compatibility, service orientation, professional knowledge, and development potential.
We then examine those prospective employees who pass the primary interview by:
- Checking their financial stability
- Investigating for past criminal behavior
- Completing a comprehensive background check
Prattco Creekway Management will deliver complete, accurate and timely accounting and financial information through dedicated best-in-class accounting services.
We can maintain accounting reports with the owner’s chart of accounts or Prattco Creekway Management’s standard account coding. We have extensive experience assisting and responding to external auditors, as well as preparing budget analyses, cash flow analyses, and special reports for potential investors. Should an owner prefer an independent audit firm, Prattco Creekway Management works with the firm specified by the client.
We have established record keeping procedures that will facilitate external auditors or your company’s representatives. The main office initiates payroll and personnel functions for Prattco Creekway Management employees and authorizes and reviews for compliance with federal regulations. If applicable, employee salaries may be charged directly to the property. Additionally, we make all documentation on payroll allocation available to owners upon request.
While this information generally discusses our financial reporting capabilities, procedures and reporting formats are customized for each client:
- Monthly detailed financial reports
- Yardi Software utilization
- Preparation of tenant billings
- Accounts payable functions
- Assisting in the preparation of property budgets
- Assisting in the preparation of annual escalation and recovery billings
- Coordination of both routine and special audits
- Coordination of banking relationships and resolution of property banking issues
- Development and implementation of property accounting “Best Practices”
- Coordination of a comprehensive Internal Control Compliance Program
- Measurable Results/Improvement – Work flows and processes will be continuously analyzed and measured to ensure that each step adds value to the final service and improves our ability to meet or exceed your specific building objectives.
- Tenants in Common and Private Ownerships – Prattco Creekway Management has extensive experience and understands the dynamics of a Tenants In Common and Private ownership. The most important objective: achieving optimal distributions for the investors. Our management team will work closely with the leasing and asset management teams to ensure adherence to specific loan and reserve requirements and obtain lowest cost solutions for TI, resulting in an organized, well-defined investor presentation allowing for quick turn-around approvals during the voting process for prospective leases and budgets. Additionally, our leasing and management teams will participate on the monthly/quarterly investor calls to assist with specific questions relating to the leasing and management of the property.
The benefits of our operations approach include:
- Reduced operating costs
- Improved/responsive tenant service
- Extended life of equipment and systems; reduced capital requirements
- Increased opportunities for capital investments
- Safe, comfortable, productive office environments
- 100% compliance with all applicable safety practices, codes and government regulations
- Strategic – Prattco Creekway Management approaches operational problems in the context of a broader, client-specific real estate strategy developed jointly with ownership.
- Value Added – The management and the engineering team proactively seeks opportunities to improve operations and reduce costs by eliminating the cause of failures rather than treating the effect or symptoms.
- Client Focused – Each year the property team develops a property-specific strategy and detailed implementation plan based on client objectives for the property.
- Flexible – Our team determines the optimum mix of in-house versus contract services to select the most cost-effective, quality mix.
- Tenant Service Orientation – Prattco Creekway Management emphasizes the importance of providing premium services to your tenants using the programs, practices and procedures we have developed that are geared toward providing fast, responsive services to building tenants. Prattco Creekway Management utilizes a web-based work order system which ensures seamless and timely response to tenants.
- Cost Effective – Our engineering team will continuously strive to provide the highest quality service at the lowest cost through management tools used to control labor hours, backlog and overtime.
- Investment Oriented – The management and engineering team will minimize capital requirements through careful operations and thorough maintenance, as well as identify capital investment opportunities where operating costs can be lowered by investing in new equipment or technologies with an agreed upon “payback”.
Take Over Procedures
Immediately upon the award of management of the project, Prattco Creekway Management will provide a timeline for accomplishing the tasks required in the take-over of each property.
Some of the general areas addressed will include:
- Staffing the property upon start of the assignment
- Completing a property inspection and providing a report within 2 weeks
- Reviewing all leases and correspondence files to verify information
- Visiting each tenant within the first week with Property manager, Engineer, and Senior Executive from Prattco Creekway Management and developing a comprehensive tenant retention plan
- Reviewing all service contracts and vendors within 30 days
- Completing a budget within 45 days
- Establishing accounting and reporting requirements to meet owner’s needs
- Reviewing all security and emergency procedures
- Establishing an employee training program
- Reviewing insurance programs, including property insurance and required certificates of insurance from contractors, tenants, manager, and owner
- Establishing a Standard Operating Procedures and Quick Reference Sheet for each property within 90 days
- Completing a utility audit for electricity, water, and gas
- Establishing a Construction Management Program to include building standards
Prattco Creekway Management has established procedures, which we can adapt to each property. These procedures include all of the above functions in significant detail to start a property operation immediately. We have established a detailed property take over Start-Up Action Items checklist based on our vast experience in property management and leasing, which we will use for each take-over.
Transition and Staffing Program
Prattco Creekway Management will establish an active, engaged and professional management presence, stabilize operations, implement operating protocols, support a successful and sustainable leasing and/or disposition program, and achieve investment objectives. We will support this commitment with specific transition and staffing initiatives, as follows:
- A senior and experienced Prattco Creekway Management property management team will oversee, direct, and manage the transition and operation of each building.
- Prattco Creekway Management will support the management, leasing, acquisition and/or disposition effort and will work cohesively and collaboratively with the marketing plan developed specifically for each building.
- Prattco Creekway Management will implement engineering protocols and support programs, thereby assuring continuity in service delivery, building knowledge and tenant relations.
In addition, our Start-Up Action Items checklist is comprehensive, and will ensure that the management transition and subsequent operations, will achieve these objectives. Consequently, our priorities in the first 90 days of the assignment will be characterized by the following:
- Transition meetings and discussions will be scheduled with asset management team to convey as much data and information as possible
- Tenants will be informed of the management change and maintenance protocols will be established
- Contractors and vendors will be formally notified, transition meetings arranged, and contract documents revised as necessary.
- Reporting protocols, schedules, and formats will be established as required by ownership.
Building Maintenance and Engineering
Prattco Creekway Management’s building maintenance and engineering program is built on a staff of experienced building engineers supported with qualified contractor and vendor relationships, technical and administrative resources.
- Review and refinement, of existing preventive and predictive maintenance systems and protocols, and implementation of Prattco Creekway Management’s standards, as appropriate. Maintenance and engineering duties include property inspections, coordinating building services and contractors, troubleshooting repairs and equipment breakdowns, developing preventive maintenance schedules, implementing an energy savings program, tenant interaction, emergency response, maintenance and repair.
- Maintenance hours and contract and service work will be budgeted for cost control and to ensure adequate maintenance coverage.
2911 Turtle Creek Blvd, Suite 1200
Dallas, Texas 75219