PROPERTY AND ASSET MANAGEMENT

De Luca Group provides physical and operational management services as follows:

Retain and supervise all site and administrative staff for each property and prepare job descriptions for each building employee. Employee performance is frequently assessed to ensure the provision of optimum building and tenant services.

Administer all payroll activity and provide all clerical, secretarial and administrative services as required for the properties.

Tender all goods, services and contracts for each building including janitorial, landscaping, snow removal, pest control, security services etc. Rich View Real Estate Limited will strive to maximize cost efficiencies and the quality of goods acquired and all contractor work will be supervised including in-suite and common area repairs.

Conduct all required repairs and alterations necessitated as a result of ongoing operations and budget allocations. Tendering for capital repair programs and building improvements are further conducted.

Provide project management services as required supervising the renovation and rehabilitation of building structures.

Conduct regular inspections of mechanical equipment with maintenance personnel and ensure energy efficiency in building lighting and mechanical systems.

Implement preventive maintenance programs for mechanical equipment designed specifically for each project in accordance with recommended maintenance specifications.

Maintain all life-safety equipment and ensure compliance with the existing Fire Code and any subsequent revisions to current legislation and regulations.

Administer and negotiate all leases and lease renewals for existing projects and develop standard lease forms for each project to ensure the protection of the landlord's interest and adherence to the Landlord and Tenant Act.

Market and lease any available premises and suites utilizing various promotional and advertising techniques. Rental applications are administered by the division and tenants are thoroughly screened by conducting a review of the applicants credit history.

Co-ordinate the review and expenditure of detailed annual operating budgets for properties including capital expense projections. All budgets will be approved by the building Owner and a comparative financial analysis of the building's previous performance will be prepared.

Administer realty, utility and insurance payments and administer insurance claims and realty tax appeals as required. The Owner will be advised of any recommended realty tax appeals and all appeals will be supervised by the Property Management division.

Generate detailed monthly, quarterly and annual operational reports for the building Owner.

Administer all residential Rent Review applications to the Ministry of Housing and provide services to ensure optimum preparation for review hearings and appeals.

Collect all receivables including monthly rental payments and parking charges for leased residential units. Delinquent occupants will be dealt with accordingly, and strict collection policies will be implemented on leased units. All applicable forms will be served on tenants who violate various sections of the Landlord and Tenant Act including non-payment of rent, disruption of quiet enjoyment, illegal acts, persistent late payment of rent, etc. The division will further file court documents including affidavits and applications to the Ontario Court.

Prepare variance and statistical analyses on building operating expenses in comparison with the approved budget.

Perform detailed bookkeeping services for the Owner including the preparation of year-end financial statements and supply monthly operating statements detailing building financial transactions. Reports pertaining to delinquent tenant accounts are issued on a monthly basis.