Ventura Partners: Project Checklist 9

PROJECT CHECKLIST PART NINE: MANAGING ASSETS AND MAINTENANCE

The many activities you're engaged in will need cyclic overview to ensure that your project remains financially sound. Here are some questions to consider:

• Who will keep track of lease expirations, CPI increases and common area billbacks?

• Do you know how much it will cost to lease your space when your initial tenants leave?

• Will you have enough money for new tenant improvements when tenants turn over?

• How quickly will you be able to generate and receive operating reports?

• How often will you need to clean your loading dock and maintain your parking gates?

• How often will you have to replace your HVAC systems?

• Who will develop your ongoing maintenance plan and develop your capital budget to cover replacement costs?

Finally, the financial and social policy success of your project will require a look at questions involving assuring its long-term stability.