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GOODFELLOW | PROPERTY MANAGEMENT

GOODFELLOW’s management group was originally formed more than 30 years ago to manage properties in our own portfolio. Understanding the important role effective management plays in a commercial/investment property, we have since expanded to offer full-service, third-party management to our clients.

As owners ourselves, we apply a comprehensive, proactive approach to the commercial properties we manage, integrating tenant retention strategies, onsite physical maintenance, and financial support services to maximize investment revenue.

GOODFELLOW currently manages multiple retail, office and industrial properties in Connecticut and Florida.

GOODFELLOW provides clients with a wide range of services, which can be delivered independently or combined as part of a tailored product.

Property Management

As part of our base management services GOODFELLOW will:

  1. Prepare and maintain a customize web based project management site which, based on the clients requirements, may include all leases, key dates, key contact information and documents.  The system provides the client password protected 24 hour access to all key data regarding their property.
  2. Coordinate and implement an owner conference call on a monthly basis or as needed.
  3. Offer 24/7 phone and web based access to tenants.
  4. Contract/Vendor management.

Leasing and Disposition

 GOODFELLOW property management is part of GOODFELLOW | Real Estate.  GOODFELLOW has been a leader in commercial real estate brokerage since 1934 in Connecticut.  GOODFELLOW | Real Estate will handle all leasing and disposition strategies on behalf of the client.

Asset Management and Valuation

Our Asset Management services strive to deliver the highest real estate value to our clients. To achieve that, we thoroughly consider the tenant selection, capital expenditures and market conditions with the ultimate goal of property disposition.

GOODFELLOW will:

  1. Assist in stabilizing property expenses in order to prepare building for sale.
  2. Assist with existing tenant lease renewals and act as intermediary between tenants and ownership.
  3. Assist in developing a long and short term capital plan for the property.
  4. Prepare a market valuation of the property based on current market conditions and also at maximum value based on a successful management and leasing strategy.

Contract Management

At GOODFELLOW, we understand the importance of controlling operating expenses by competitively bidding out service contracts and repair work.  We also understand the potential liability of not having properly insured or licensed vendors. We will assist with vendor and contract negotiations for building services and provide the following:

  • Negotiate and manage all vendor service contracts
  • Inspect and supervise all contract work in accordance with job specs.
  • Ensure that all vendors have appropriate insurance and licenses and have properly named management and ownership as additionally insured. 

Construction Management

GOODFELLOW will provide the following services:

  • Handle all repair requests
  • Obtain bids and negotiate contracts
  • Inspect and supervise all contract work in accordance with job specs
  • Initiate preventative maintenance programs
  • Monitor and assist in tenant improvements and fix-ups
  • Perform regular property inspections and evaluations

Accounting Services

On behalf of the client we facilitate property invoicing (issuing of invoices and processing of received invoices), manage all financial matters (rent collection and other fees, recovering of debts, etc.) and generate regular comparison reports of revenues and expenditures.

GOODFELLOW will manage and prepare the following:

  • Utilize a PO Box or bank lockbox system to ensure integrity of funds
  • Disburse accounts payable
  • Generate quarterly financial statements
  • Delinquency coordination with legal counsel, if necessary
  • Manage lease escalations and recovery
  • Yearly reconciliation of all tenant leases
  • Develop annual operating budgets
  • Common Area Maintenance Reconciliation