Property management services provided by NGG Real Esate include but are not limited to:

  • Collect all rents and other sums due under leases, promptly deposit such funds into provided bank account(s)
  • Keep Project in a clean, sightly, first-class condition
    • Includes necessary repairs and replacements, decorating properties, purchasing supplies necessary for operation.
  • Negotiate and enter into and supervise the performance of contracts on behalf of Owner for electricity, fuel, water, telephone, trash removal & other similar services
  • Negotiate and enter into and supervise the performance of policies in the name of Owner for insurance against fire and other casualties affecting the project.
  • Resolve complaints and requests from tenants, notify Owner of major complaint, deliver prompt notice of any defect
  • Prompt compliance with any applicable laws, rules, regulations of relevant governing bodies and promptly notify owner in writing of violations or alleged violations
  • Notify Owner immediately in writing of any imminent threat that might adversely affect the project.
    • Including any lawsuits, liens, condemnation proceedings, re-zoning or other government action Newmark becomes aware of.
  • Notify Owner of personal injury or property damage claimed by tenant or third party with respect to the project
    • Promptly forward to Owner any summons, subpoena, or other like legal document served upon manager relating to any actual or potential liability of Owner
  • Notify Owner and Owner’s insurance carriers of any fire or other casualty and any damage to the project
    • Promptly telephone notice to Owner’s insurance carriers so that an insurance adjuster may view the damage before repairs begin, and complete loss reports in connection with fire or other damages
  • Verify and pay all taxes, assessments, utility charges, casualty insurance premiums, and costs of operation and maintenance of the project unless Owner directs otherwise in writing
    • Notify Owner promptly in the event that funds made available by Owner are not sufficient to pay such items
  • Set up and maintain reserves required by Owner
  • Distribute net cash flow as instructed by Owner
  • Prepare and deliver to Owner a monthly report
    • Includes a summary of project operations, balance sheet, operating statement, rent roll, general ledger, check register, security deposit analysis, accounts receivable aging schedule, accounts payable aging schedule, delinquency report, bank reconciliation, summary of prior period adjustments, and inventory.
  • Maintain accurate books and records of account