Commercial management
Commercial property management questions
What does KEILTY charge to manage a commercial property?
KEILTY's commercial property management fee is 15% of additional rent under net leases. Additional rent is the tenant's proportionate share of the cost of running the building, which typically covers realty taxes, insurance, common area maintenance, utilities where they are not separately metered, and the management fee. Because those costs are recovered from tenants under a net lease, the management fee sits inside the recovery structure rather than coming out of your base rent.
What types of commercial property does KEILTY manage?
Office buildings, industrial buildings, retail plazas and malls, and mixed-use properties. There are dedicated pages for office, retail and industrial property management, each covering what differs about operating that asset class.
What is included in KEILTY's commercial management service?
Six functions run together: leasing and tenant retention, lease administration and rent collection, budgeting and financial reporting, maintenance and building operations, capital planning and projects, and risk and compliance. They are delivered as one service rather than split across separate providers, because in commercial real estate a leasing decision changes the operating budget, the recovery model and the capital plan at the same time.
Where does KEILTY manage commercial property?
Across Eastern Ontario, with core markets in Kingston, Belleville, Brockville, Cornwall, Ottawa and its suburbs, Peterborough, Cobourg and Quinte West. Our head office is at 300-80 Queen Street, Kingston, Ontario K7K 6W7.
Does KEILTY track lease critical dates and escalations?
Yes. Lease administration covers expiries, renewal and extension option windows, rent escalation dates, fixturing periods and restoration obligations, and owners are given a forward view of critical dates in the coming twelve months. Missed option windows and unapplied escalations are among the most common and most expensive silent losses in commercial real estate.
Who prepares the annual additional rent reconciliation?
KEILTY does, as part of lease administration and financial reporting. Tenants pay a monthly estimate through the year and the estimate is reconciled against actual operating costs after year end, calculated against each tenant's own lease language rather than off a single blended template, since exclusions, caps and gross-up provisions commonly differ between tenants in the same building.
Does KEILTY handle commercial leasing as well as management?
Yes. Leasing and tenant retention are part of the commercial service, which removes the handoff between the party that signs a deal and the party that has to operate it. Owners who prefer to use a separate leasing broker can do so, and the arrangement and any commissions are set out in writing before work begins.
How do I get a proposal for my commercial building?
Book a 20-minute call during business hours, or call 613-545-3322 or email Hello@keilty.com. Bringing a current rent roll and your most recent additional rent reconciliation makes the first conversation far more useful, because those two documents show where a building is actually losing money.
Choosing between managers? Our guide to what to look for in a commercial property management company sets out fourteen questions worth asking, including of us.
