Property Management

In addition to maximizing operational efficiencies and creating a quality environment for tenants, we apply our market expertise, high standards and sound decision-making to each opportunity as it arises.

Furthermore we continually enhance our service capabilities and systems, relying on efficiencies brought by changes in technology and the innovations of the experts we hire to manage our properties. Our organization is built on the skills and expertise of goal-oriented professionals whose primary focus is to deliver consistently superior service and performance.

Lincoln is committed to measuring the quality and effectiveness of our service performance and learning from the results. This process of continuous evaluation, response and improvement ensures quality and consistency at every service level. During our more than 40 years of experience in building, owning and managing one of the largest commercial real estate portfolios in the United States, Lincoln has developed a management approach that encompasses all service capabilities and systems throughout the organization.

Lincoln understands that as an owner, each client has specific financial objectives, as well as performance expectations of its service providers. The primary concern of every management team is the economic interest of the client.

Our management priorities for all properties are:

  • Keep the property safe and free of liability issues
  • Keep the property clean, well maintained and inviting
  • Collect all rentals in a timely manner
  • Complement good tenant relations with regular personal visits and prompt responses to all inquiries
  • Communicate effectively and as necessary to keep all involved parties informed

A Property Manager’s primary place of business is ON property, and we want our Property Managers there just as often and as long as possible. This is how we can keep our fingertips on the pulse of each property’s operation. We need to be there ON property to ensure:

Our Procedures

  • The property is clean
  • All vendors are performing services up to our standards
  • Visit tenants on a regular basis
  • Keep an eye on each business and their inventory and operation
  • Follow through and inspect completed maintenance jobs and repairs
  • Complete a written monthly property inspection
  • Verify vent a hood inspections
  • Assess incident damages (roof leaks, break-ins, sewer line back ups, etc.)
  • Check on pylon and monument signs
  • Bid welcome to new tenants (and make sure all the others are there)

And much, much more.

The point here is … to be ON property as a Property Manager should be, the need for streamlined paperwork of all kinds is an absolute must.

The best and most efficient use of a Property Manager’s time is certainly not drafting from scratch a default letter or wondering if every single important step is completed in the event inventory is left behind.
To that end, we have in place … standard forms and procedures for nearly everything that could come up … from standard form default letters to standard form termination of occupancy letters to a temporary indoor event agreement to a detailed procedure in the event a tenant vacates and leaves inventory behind.

Our Practices

Property Management is all consuming. There are far too many tasks to list here, both ordinary and extraordinary, that are part and parcel of a Property Manager’s daily, weekly, monthly, quarterly and annual responsibilities.

What is important to note is that at LPC Retail, Standard Operating Procedures are only the beginning of what our managers accomplish for owners, properties and tenants. A few examples of our SOP are listed below.

As a matter of routine and standard practice, all LPC Retail Property Managers:

  • Visit and inspect DFW properties at a minimum
  • Respond to all tenant inquiries or requests within 24 hours
  • Ensure that a night lighting inspection is done monthly by a qualified lighting vendor
  • Prepare monthly property reports
  • Review and send rental statements, call or collect rentals (including driving for dollars as necessary)
  • Collect and review tenant sales
  • Collect and review tenant insurance certificates
  • Managers are available 24/7

The Monthly Reporting package will include the following:

  • Budget Comparison Report
  • Balance Sheet
  • General Ledger
  • Cash Receipts and Disbursements Journal
  • Bank Statement and Reconciliation
  • Aged Delinquency
  • Rent Roll
  • Management Fee Calculation

The accounting process begins with a Senior Accountant who reviews all financial aspects of the monthly report. The Assistant Controller then reviews the Senior Accountant’s work. In addition to this review process, there are checks, balances and internal controls in place throughout the system.

The LPC Retail Team is skilled in the use of a variety of commercial real estate software packages. We own Skyline and JD Edwards, and current packages in use include YARDI Enterprise and YARDI Voyager, as well as MRI.