Property & Asset Management
- Overview
- Advantages
- Management Types
- Why Are We Different?
- Request for Services
A successful medical property management firm understands the delicate balance between keeping the building owner satisfied (the client) and meeting the needs of physician tenants (the customer). Holladay Properties' property management services provide tenant-focused services aimed at enhancing asset values. Many national studies have shown the strong statistical correlation between tenant satisfaction and tenant retention. The corresponding axiom then is that strong tenant retention enhances the property's return on investment and improves profitability ... keys to creating happy owners.
Holladay Properties' time-tested property management system helps keep this circle unbroken. Our day-to-day operational procedures, cost management practices and comparative benchmarking have been refined to provide our clients with state-of-the-art, detailed information and reports to further enhance the decision-making process. All of our field personnel are fully supported by seasoned professionals in our Nashville office in the fields of construction management, engineering, legal, accounting, marketing, valuation, information technology, regulatory compliance and common sense.
Managed Property Listing
Advantages of Third-Party Management
- Professional management by personnel whose primary focus is your building and your tenants
- A non-biased perspective on the marketplace (fair market value)
- The Property Manager is a buffer between owner and physician tenants to hold the line when required by regulatory compliance or to deliver less-than-favorable news to tenants
- Systems to maximize revenue, minimize expenses and protect assets
- A strategic partner who understands the overall healthcare environment
- More time for your management team to focus on your primary business
- Systems and services designed to make vendors accountable
- Measurable improvements in tenant satisfaction = tenant retention
- Systematic regulatory compliance and feedback
- Reduced impact on your legal, accounting and maintenance departments
- Varied experience base for better decision-making
- Entire property management operation is not dependent upon one person
- Information systems designed specifically for real estate management
Full Property Management
For those clients who want a complete turnkey solution to your property management needs. Holladay steps into your shoes as your agent and manages the property as if it was our investment (with full disclosure and reporting of our actions on your behalf). We hire all the necessary personnel, execute service contracts, interface with tenants, collect the rent, pay all the bills, repair the building and prepare monthly financial reports. We establish the operating parameters for your approval (the box) and then independently manage accordingly. We alert you when we need to do something "outside the box" and schedule regular meetings to share information. This allows your focus to be directed to those tasks that return the most to your organization.
Asset Management
This is for those clients who want to provide the physical care of the asset and handle the accounting with their personnel. Holladay Properties will handle the leasing function, prepare all lease documentation, invoice and collect rent, follow up on aged receivables, maintain rent roll, prepare annual revenue budget and prepare annual fair market rent studies.
Enhanced Asset Management
This is a customizable agreement which includes client service levels between Full Property Management and Asset Management. Examples of services routinely requested by clients in this type of agreement include payment of building invoices, preparation of complete monthly financial package and annual physical inspection/report on the real estate asset.
Additional Services
(fee-for-service)
- Tenant Improvement Project Management
- Asset Appraisals and Fair-Market Rent Studies
- Tenant Satisfaction Surveys (see sample)
- Timeshare Cost and Utilization Analysis
Systems Setting Holladay Apart
FM Link
This is our proprietary database software that allows clients/owners and property managers to access a plethora of building and suite information from any computer with an internet portal. You can access lease documents, floor plans, pictures, financial reports and much more when needed.
Call Center
This is a service offered to our Full PM clients. It is a system that is available 24/7, 365 days a year to address any building or suite concerns reported by a tenant (or management). It allows us to monitor all open/closed work orders through completion, identify assets that fail too frequently and monitor tenant satisfaction of their building maintenance function.
Accounting Hub
Our client-acclaimed Nashville accounting hub serves as a cost-effective way to report the financial activity of your real estate asset. We utilize separate bank lockboxes for tenant receipts, account for the asset per GAAP and provide analysis of the results and trends.
Operational Review Calls
Holladay has created a time-tested application to insure the maximum amount of communication occurs for each client's transaction. Monthly, a conference call is held with the staff specifically assigned to each client (property manager, accountant, leasing paralegal, construction rep and senior management). The team addresses expiring leases, legal documentation, ongoing construction, accounting/accounts receivable issues and other noteworthy items.
Testimonials
Thomas C. Gibson, Senior Vice President
Mr. Gibson, who received a B.S. degree in real estate from Indiana University at Bloomington, is a Certified Property Manager and holds a real estate license in Tennessee, Louisiana, Kentucky, Virginia, and West Virginia. Prior to joining Holladay Properties, Mr. Gibson worked in commercial real estate brokerage and as a real estate development officer with a regional bank. He is a past President of the Nashville IREM chapter.
Mr. Gibson has headed the mid-south office of Holladay since it was opened in Nashville, Tennessee in 1986. During the early 90's, the Nashville office under Mr. Gibson became the “doctor” of troubled real estate, taking over the management, construction, and leasing of over 25 income properties for banks and insurance companies. The Nashville office currently provides property management and construction services to a portfolio of over 5,750,000 square feet of medical office space for HCP, Inc. (largest healthcare REIT in the US), LifePoint Hospitals and several other regional health systems.
Jeffrey Ottman, Chief Financial Officer
Mr. Ottman's responsibilities at Holladay Properties include management of third party accounting for our healthcare clients, and the financial management of Holladay's Healthcare division. Prior to joining Holladay Properties in 1999, Mr. Ottman served as assistant controller with a renowned southern forklift distributor as well as an accounting manager for a regional turbine repair facility.
Mr. Ottman is experienced in the design, implementation, and maintenance of each client's specific accounting needs. He leads a well rounded team of accounting professionals, as well as consulting in the custom design of MRI for Windows©. Other specialty services include audits of lease billing, expense recoveries, vendor contracts, operating expenses, construction budgets, and much more.
Ken Whitaker, Chief Operating Officer
Mr. Whitaker joined Holladay Properties in 2004 and brings over 25 years of multi-faceted healthcare and hospitality experience to the team. Mr. Whitaker has had complete responsibility for over $150 million in development projects encompassing medical office buildings, skilled nursing facilities, retirement centers, psychiatric hospitals and world-class resorts. Mr. Whitaker has also been an Administrator for hospitals and nursing homes as well as an Executive Director of a large multi-physician medical practice. His ability to merge the needs of operations, development, and financial management results in projects that are completed on time and on budget. Mr. Whitaker obtained a Master's Degree in Hospital and Health Administration from Xavier University, a B.S. in Accounting from Case Western Reserve University and is a Certified Property Manager.
Tom Bingham, MAI
Mr. Bingham has been engaged in the appraisal of all types of real property, exclusive of single-family residential, since 1986. Specific property types include apartment complexes, condominium developments, residential subdivisions, shopping centers, hotels/motels, office buildings, business parks, light industrial and warehouse/storage facilities, retail/service facilities, medical/institutional properties and various special-use properties. Also, he has been previously engaged in appraisal reviewing and real property consulting.
Lynn Celli, CPM
Ms. Celli has been employed by Holladay Properties since 2000. She has served as property manager at several hospital campuses during that time and is now the National Manager for our HCP Portfolio. Prior to Holladay, Ms. Celli managed a variety of commercial and industrial office buildings in addition to big box retail clients like Lowe's. Ms. Celli is adept at codifying best practices into understandable policies and procedures as well as an excellent mentor for new property managers.
