Operating the Property: Proper management of the facilities will be key in maintaing tenant satisfaction and renewing leases. To ensure profitability, the premises will need to be managed in accordance with a budget. The operational budget for management of the Hogan Building follows:
Hogan Building Annual Operations Budget
Janitorial $10,000
Security $45,000
Semi-Annual Window Cleaning $ 7,500
Trash Removal $12,000
Repairs / Maintenance $35,000
Advertising $ 6,000
RE Taxes $51,900
Insurance $15,000
Management Fee $ 5,000
Cap Ex Contribution $ 7,500
Total $194,900
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