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Property Management

Property management is a core business for Norris & Stevens — and a foundation of our relationship with many of our clients. Many other real estate companies consider property management secondary to their brokerage. We believe that excellence in property management is the basis of our clients' confidence in our services in leasing, sales and development.

Norris & Stevens specializes in turning underachieving properties into effective investments. By combining effective property management with an aggressive marketing program we have often seen the property's value increase much more rapidly than anticipated. We are experienced at remodeling and rehabilitating “B,” “C,” and “Historic” office, industrial, and retail properties. Our success has led to remarkable increases in the owner's equity, and earned us the loyalty of our clients.

Many property management firms spend their time putting out daily “fires.” Our approach is geared toward the long-term by working with our clients to plan for expected and unexpected contingencies. Preserving the property's physical integrity, maximizing the profitability, reducing the investor's liability and exposure to regulatory requirements, asbestos abatement, ADA compliance, tenant security, seismic upgrading, and a host of other issues — all can be dealt with effectively with the right combination of planning and action.

Precision in financial record-keeping is essential to achieve the excellence our management clients have come to expect. To this end, we use Skyline Property Management®, a software package capable of providing the detailed and accurate reporting we demand. At the time that this system was originally implemented at Norris & Stevens, we were an industry leader in embracing this innovation. We update the system on an on-going basis to stay abreast of the latest in record-keeping technology. Our Accounting Department is organized around “Property Portfolios.” Each Portfolio Accountant is responsible for a specific group of properties over a long-term assignment. In this manner, we maintain focus, accuracy and consistency in our reportage. In addition, a Commercial Lease Administrator assures that the terms and conditions of leases are met by both parties.

Over the last thirty-five years, Norris & Stevens has assisted contractors and developers in the conceptualization and the lease-up of numerous new apartment communities. Our quarterly market survey provides market data from which we can pinpoint the most profitable mix of units and the achievable rents for each unit type. We assist our clients with financing by developing a pro forma income and expense analysis and working with lenders to facilitate construction loans and permanent financing. We bring the building to final stabilized operation after successful lease-up, ready for sale or long-term operation. Our expertise gives a competitive advantage to apartment developers.

Most of our property management clients take advantage of the full menu of services available through Norris & Stevens — including leasing and sales. We have 25 licensed Real Estate Agents involved in the sales and leasing of office, retail, industrial, land, commercial investment and Multi-Family properties throughout the Portland Metropolitan Area, the Willamette Valley and Southwest Washington. Agents are assigned to specific territories and market niches, and as a result rapidly become exceptional in their area of expertise. This specialization has proven so effective that most brokerage clients stay with Norris & Stevens for many years.