BRIDGES PROPERTIES & MANAGEMENT LTD
P. O. BOX 8452 – 00100, NAIROBI. PHONE: +254723351159, +254726311988
E-MAIL: info@bridgespropertiesltd.com WEB: www.bridgespropertiesltd.com
BPML’S MANAGEMENT PROPOSAL
Bridges Properties & Management Limited is a company duly registered under the Companies Act Cap. 486,
Laws of Kenya dealing with the management of residential, commercial, agricultural and industrial property. It
prides itself in managing properties to the approval of our esteemed clients in terms of an increment in property
portfolio profitability by subsidizing the cost of our services.
Our main goal is efficiency in the management of our client’s properties which serves to minimize expenditure
while maximizing the rental revenue check. There is no mark up charges on services rendered by the various
vendors under our management. Our clients are able to take advantage of the discounted pricing afforded to us
as a volume buyer of property related services. Our main or premium property management services include:
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Tenant Clientele/ Customer Service and Issuing of Resolution
Leasing Units and Processing Evictions
Property Maintenance and enhancement
Bill Payment, Bookkeeping and Financial Reporting
Tenant Clientele/ Customer Service and Issue Resolution
There is a well-established relationship between rental property profitability and the actual retention of
appropriate tenants. We work to minimize tenant turnover and the resultant leasing and vacancy expense. This
is done through the development of strong landlord-tenant relationships based on prompt response to tenant
concerns and positive customer service.
Leasing Units and Processing Evictions
Our property management fee is calculated on the actual rental revenue received (not the gross rent roll). This
makes us have a personal initiative to ensure all the units under our management are maximally rented out. We
also make sure that rent collection is done promptly. We once in a while conduct rental market analysis to
make sure all units are rented at or above the market rate. Eviction notices will always go out on the 15th of the
month to minimize the necessity of eviction process since the tenants will in the event prioritize rent payment
over other financial obligations.
The eviction action shall follow the due process of law through our legal department. All vacant units will
aggressively be marketed and advertised to minimize lost revenue due to vacancy.
Security:
It is our mandate and duty to negotiate security contracts on behalf of clients with reputable security firms and
forward the quotations to property developers for approval. We also supervise the security guards to make sure
that the property, any fixtures and equipment are secured on a 24-hour basis.
Bill Payment, Bookkeeping and Financial Reporting
We shall manage the payment of bills at no extra cost while providing our clients with monthly income
statements.
The various reports alongside the profit checks shall be sent on the 5th day of each month or upon request. This
process has been simplified by the acquisition of sophisticated software known as the Landlord Max.
We examine the bills for accuracy and take care of the resolution of any billing discrepancies. We also carry
out annual expense audits for our clients and work to minimize expenses and where suitable put the services out
for competitive bidding. Our bookkeeping is professionally done to take care of the annual financial statements
that are necessary for tax filing needs.
All rent payments and security deposits are collected and deposited directly into a trust account(s) created or set
up in the name of the Landlord/ property owner.
Operation Analysis and Management:
We can provide the landlord with financial planning and analysis. Projections of cash flow expenditures are
prepared to optimize the real state or condition of your property during its maintenance cycle. Clients can
benefit from thorough analysis of the marketing, operating and financing life cycle.
Budgeting:
We usually work with the landlord/ property owner to develop annual budgets that enable one meet their annual
operating and capital needs to curb with unnecessary financial expenditures the financial year. We engage you
in the budgeting process which is enabled through a simple step-by-step process in developing your financial
plan.
Property Maintenance and Improvements:
We engage the various vendors and contractors to carry out all essential property maintenance and make
recommendations to clients on the most needed property improvements to enable the maximization of profits on
rent and the increase of return on investment.
We provide information to new tenants about operations and policies exclusively tailored for your property.
This includes information on handling emergencies. We have specific guidelines for our Property Managers/
caretakers that assist in property monitoring process.
Management and Administration of:
a) Active leasing program in order to fully lease/rent out the property.
b) Caretakers and all site staff.
c) Lawn and the general grounds maintenance.
d) Cleaning, painting, staining and general maintenance and repair of the property
e) Cleaning and maintenance of roadways, curbs and sidewalks, and carrying out regular and frequent
inspections to guarantee the efficient delivery of these services
f) Contracts which are always approved by the Landlord/ Property owner
g) Administer and manage parking programs as required by the property owner.
h) A 24-hour response system to take care of emergencies and related customer service.
i) Sending out delinquency notices for rent arrears as follows:
i.
1 Day in Arrears, A personal telephone call or personal contact is made to the tenant.
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2 Days in Arrears, a reminder notice is sent to the tenant.
iii.
3 Days in Arrears, an eviction notice is delivered to the tenant and late fees are applied.
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At the end of the eviction period, legal proceedings commence to remove the tenant permanently
from the premises.
Commercial tenants in arrears will have their locks change or legal actions will commence to
secure all arrears.
Preparation of Property Market Reports:
Bridges Properties & Management Limited will also advise the property developers on the current trends within
the property market. These reports are usually prepared after a thorough research through a property survey in
the market.
Property Management Fees
The management fees on Commercial, Residential, agricultural and Industrial Properties will range between 7%
and 12% of the gross monthly revenues.
However, property management fee is calculated on the actual rental revenue received.
Term:
The Term of the Management Agreement shall be Two (2) YEAR from the Commencement Date.
Insurance Coverage:
We do negotiate on behalf of the property owner for a low cost insurance coverage. This may be 30-45% lower
than the individual rates. We also advise the property owner to provide for the most appropriate cover against
any potential risks through reputable insurance companies.
Termination:
The Client has the option of terminating the contract within Sixty (60) days through a written notice to the
Management Company.
Additional Charges:
These include photocopying services, delivery charges on mail outs such as notices, rental increments,
assessment letters and Courier Services.
Administration Charges: Advertising, long distance charges, credit and reference checks. All costs to be at
market rates with no additional mark up.
Bridges Properties & Management Limited provides a wide range of Farm & Property Management
services.
Our Managers are devoted to delivering exceptional client value through clear communications, sound financial
decisions as well as solid performance in property management and operations. We have a great experience and
incomparable expertise in Farm & Property Management. We note with great concern that every property and
each property developer/owner is unique. Our team will mold our services to meet your needs and manage your
scheme or property for long-term, consistent returns.
We normally focus on four core fundamentals which prove to be very invaluable to our esteemed clients:
1. Maximize return on investment while working towards achieving our client’s long term objectives
2. Selecting and collaborating with highly qualified and financially sound Farm Operators within our
vendor network.
3. Maintaining and enhancing property value through the management of soil conservation, fertility, and
capital improvements.
4. Providing a high level of service delivery and care on each and every property through our well
qualified, amiable Farm & Property Managers
Types of Agricultural property we manage:
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Row crop and small grain, forage and specialty crop farms
Building sites and farmsteads which includes grain and livestock facilities
Commercial property and warehouses
Share lease and custom farming interests
Direct farming operations
Irrigated and dry land properties
Timber yards
Bridges Properties & Management Limited manages client’s property portfolios which belong to the
industrial property market.
We ensure that most of our tenants repay our sensitivity by signing new and longer leases. This is done through
the reasonable rental rates with fairly low escalations maintained over a period of time.
Bridges Properties & Management Limited makes use of its resources in training the right personnel who will in
the event manage the industrial portfolios within the most ratified market guidelines. This will help to maximize
the property’s potential for the benefit of both the owner and the tenant.
What we do:
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Marketing and advertising
Rent collection and invoicing,
Repair and maintenance
Legal advisory
Consultancy
Our clients:
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Logistic companies
Engineering firms
Storage and warehousing facilities
Manufacturing firms and suppliers
Food processing companies
Transit companies
We have well-cut-out criteria of evaluating the suitability and feasibility of a potential tenant. We usually
achieve zero bad debts through the use of credit checks to minimize the risk of rental arrears. We also
encourage our tenants to always remain in dialog with us in order to avoid misunderstandings and foster a
relationship of partnerships between landlord, tenant and managing agent.
Commercial Property Management
As part of our integrated own, develop, manage business model, every Goodman property is managed internally
by a dedicated and highly skilled team of professionals.
Our customers have a dedicated property management team who provide a full spectrum of services including:
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Customer service and an annual business space review;
Lease administration;
Building and engineering services;
Asset management;
Building maintenance;
Landscaping;
Security services;
Energy and facilities management;
Fitout services.
Each property management team is comprised of a:
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Portfolio Manager who oversees the customer's Goodman property team and lease negotiations;
Building Manager who is based onsite at our estates and is responsible for day to day operational issues
or maintenance requests;
Property Manager who is responsible for property management and lease administration enquiries;
Engineering Services Manager who looks after building and engineering services for new tenancies or
existing space modifications.
We work closely with our customers to deliver on their business space requirements and build long-term
relationships. Our high customer retention and occupancy rates are a direct result of our superior attention to
detail, service and commitment.
Confidentiality:
All parties acknowledge that the financial terms of this proposal and the contents hereof are strictly confidential
and covenants not to disclose or allow disclosure of the same to any third party. Our goal is to acquire the best
service for the least cost for your property.
Bridges Property & Management Ltd……Your Property in safe hands