Prior to the commencement of each financial year a budget is prepared with the objective of optimising net income and capital gain of the property, this is provided to the client for discussion and approval or amendment as required. Variances to this budget are reported monthly to the client, and outgoings reconciliations are completed by Milestone Property Management within three months of the end of the financial year.
Rent is collected and payments of invoices are made on behalf of the clients with distribution of net funds to the client monthly.
In preparation of the budgets, outgoings costs are compared with a database - comparing rates for each building.
Net income summaries in both cash and accrual form are provided to the client on a monthly basis to ensure efficient monitoring of finances.
In house access to both Green Star and NABERS accredited professionals assists in recognising potential value add in sustainability design as well as meeting environmental disclosure requirements.
Risk Management and Cost Control
Strategic risk profile reduction is achieved through tenant retention, considered lease negotiations, careful monitoring of arrears and efficient capital works management.
Milestone Property Management concentrates on maximising the net income of all assets under management, ultimately delivering maximum value and cash flow to clients. Regular market research is undertaken to ensure that all market reviews are maximised, and are well substantiated and evidenced. Income is further maximised through enhanced efficiencies which translates to minimised costs.
Reporting and communication
Quality financial and operational written reports are provided monthly, and efficient communication is maintained at all times.
The written monthly reports contain:
Net Income Summary (in both cash and accrual methods)
Commentary on any variances to budget
Receipts and payments for the property for the month
Arrears summary and commentary on action taken
Operational issues or comments
Commentary on upcoming requisite capital works
Rent review register and commentary on reviews when undertaken
Public liability insurance register
Bank guarantee register
Occupational Health and Safety
Milestone Property Management has a stringent workplace health and safety management plan for properties under management. A Government registered Work Place Health & Safety Officer is employed fulltime, which assists in identifying and resolving hazards, ensuring reporting to the appropriate levels is undertaken and ultimately reducing risk to clients.