Property Management

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Asset Management

Triumph defines Asset Management in commercial properties as the application of economics to manage risk and enhance value. Triumph’s plan-based model starts by looking at the relative strengths of the property and the economic conditions it is competing, so as to develop a competitive advantage in the marketplace.  Like markets, the model is dynamic and reactive in order to maximize the potential for investment returns.

The function of commercial real estate is to provide space or facilities for commerce. Economic factors such as interest rates, unemployment, productivity, inflation, taxes, international trade and regulation affect real estate both directly and indirectly. We endeavor to be students of economics and business in order to fully understand the array of influences on real estate. Investing in real estate is often considered to be investing in the consumer product of business space, however unlike investing in the stock of a single company that manufactures a product or sells a service with reasonably predictable growth, investing in real estate involves many industries and therefore relative unpredictability. Managing that unpredictability, and finding all opportunities within every single investment requires time, resources, experience, and savvy.

Just like business, real estate markets are cyclical. This is a time tested and unavoidable reality, and it is an opportunity. Real estate is a fundamentally sound investment, in that it will never be completely without value. However the value it has will change over time, and not always in a positive direction. When and how real estate is bought and sold becomes a key factor to whether or not value is enhanced, so to that end, Triumph spends a great deal of time on the task of recognizing the cycles and their turning points. We also understand that it is important to be aware that when the trends are pointing in one direction, it may very well be prudent to go in the other. That is why it is imperative to translate economic news into real estate terms, especially at the local level.

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Important Distinctions

There are important distinctions to be made between simply investing money and managing it, and between owning property and operating it. Investing and owning can be passive activities, while managing money and operating property entails a role as the steward of assets, fully engaged in the detail required to make each and every property better today than it was yesterday. We believe the latter is required in order to minimize risk and maximize returns.

  • Always gain complete understanding of all risk factors.
  • Always work to reduce risk.
  • Always seek counsel from those who have been there.
  • The only way to find opportunity and manage risk is to know how to look forward, and never assume the past will be repeated.
  • Never betray your gut instinct.
  • Always seek substantial upside potential, but never pay for it.
  • Always strive to be ahead of the crowd, and avoid the urge to follow it.
  • There is more money in getting out too early than in staying too late.
  • In taking profits, it is good business to “leave something for the next guy”.
  • Over-managing properties never leads to failure.
  • A building fully occupied at below-market rents is better than one that is vacant at any number.
  • Never underestimate the value of good credit.
  • Treat everyone fairly, and always do what you say you will.

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Property Management

Triumph Real Estate Corporation selectively offers full-service property management for retail, office, industrial, and multi-family properties. With decades of experience in development, management, construction, and leasing, Triumph is able to consistently exceed owner expectations.

The traditional approach to property management is entirely custodial. At Triumph, we take a different approach–a more thorough and thoughtful approach. Our deep experience as owners gives us unique insight into the full spectrum of delivering investment yield, from risk analysis and financial market expertise all the way through the study and application of economic foresight to property realities.  From that, we can be fully committed to being the best possible stewards of our client’s assets, treating each property and every penny as our own.  We are on a never-ending quest to find and enhance the value of commercial properties, and our proprietary CRE Value Extraction System™ of execution is designed to deliver that value.  Most importantly, this ethos is not just lip-service… it is in our blood; it defines our everyday thoughts and actions for the benefit of our clients.
~Paul Ruff, President and Founder

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Successful Management

Successful management begins with the Transition Phase. This phase is central to the development and implementation of a meaningful Management Plan. Triumph uses a multi-discipline approach to tackle new management projects. We insert a team of experts in accounting, law, finance, construction, public relations, and administrative and operations management. This team examines every nook and cranny, leaving no stone unturned. We quickly identify areas of hidden costs and revenue opportunity. The team then develops a Management Improvement and Operating Plan consistent with our client’s short and long range objectives. This Plan, which is the subject of constant review, analysis, and adjustment, establishes the basis for the physical, financial, and administrative management of the real property and creates the opportunity to enhance the value of the asset over the long term. Triumph’s Total Management Service encompasses Physical, Administrative and Financial Management.

Property Management Services

Physical Management Service

  • Supervise day-to-day operations, routine maintenance, inspections and engineering services.
  • Design and implement preventive maintenance programs.
  • Negotiate and administer service contracts including supervision of all outside contractors.
  • Supervise space planning and construction of tenant improvements.
  • Staff and supervise facility personnel.
  • Supervise capital improvement projects including common area improvements, HVAC retrofits and replacement, structural renovations, emergency power system installation, and electrical retrofits.
  • Establish emergency protocol and provide around-the-clock emergency service.
  • Review, design and implement programs for security systems and life safety considerations.

Administrative Management Service

  • Perform market analyses, evaluate competition and develop marketing and leasing strategies.
  • Coordinate lease review, abstracting, and administration.
  • Negotiate commercial leases.
  • Provide risk management services and oversee and manage liability, worker’s compensation, and property insurance for both the facility and tenants.
  • Perform legal services with respect to lease enforcement and eviction coordination.
  • Establish and maintain bank accounts including trust funds to protect the needs of the client.
  • Design and implement tenant screening criteria.
  • Coordinate property activities with local, state and federal government.

Financial Management Service

  • Develop and implement capital budgets at the direction of the client.
  • Provide state-of-the-art accounting services including custom designed reports to accommodate each client’s individual requirements.
  • Invoice and collect rent, escalations, tenant charges and miscellaneous receipts.
  • Administer and coordinate project loans.
  • Establish and implement control procedures for timely payment of operating expenses.
  • Provide a monthly narrative of significant budget variances and property management issues.
  • Recommend and implement long and short term financing alternatives.