Property Management.
Barr Real Estate has been extensively involved in property management since the
firm’s inception in 1963 and has a reputation as a leading management firm in the
community. Our full range of management services for commercial and multifamily-residential
real estate includes leasing, maintenance, risk management, and accounting/reporting.
Leasing.
To maximize the profit of an apartment investment it is essential to set rents at
maximum levels while minimizing vacancy. Rents must be based on prevailing market
conditions as well as the specific amenities of each property such as location,
unit size, and building facilities. As the rental season progresses, rent levels
for the coming year are adjusted to meet demand. This approach has contributed to
a historic vacancy rate of less than one percent for all properties managed by Barr
Real Estate.
Maintenance.
Two maintenance supervisors direct a staff with specialties in carpentry, electrical,
plumbing, and mechanical systems. Barr Real Estate has at least one maintenance
staff memeber available 24 hours a day, so tenants and owners can rest assured that
emergency repair calls will receive immediate attention, regardless of when tehy
occur. Our supervisors also regularly inspect each property’s interior, exterior,
mechanical systems, and roof. this proactive approach enables the company to identify
and resolve potential maintenance problems before they develop.
Accounting and Reporting.
Barr Real Estate establishes individual bank accounts for each property through
which all bills and deposits are processed. Our tenured bookkeeping staff prepares
bank reconciliations and detailed cash flow summaries for each property on a monthly
basis. This information provides owners with a detailed, accurate profile of each
property’s financial performance every month. The principals at Barr Real Estate
are always available to discuss the progress and future plans for every property
the firm manages.
Risk Management.
Fires, floods, accidents, and other catastrophic events can happen at any time to
even the most careful property owner. Barr Real Estate’s principals work to minimize
property owner’s exposure to risk by periodically reviewing insurance coverage with
our owners and their agents. The prinicipals also regularly tour properties with
our maintenance supervisors to anticipate and preclude potential liabilities.