Caton has more than two million square feet of real estate under management or leasing throughout the Chicagoland area, leasing and/or managing commercial real estate for third-party clients and fund investors. We consistently immerse ourselves into each property and work to increase its operating efficiencies, enhance the value of the properties, and produce high yield returns for investors.
Our staff has a long track record of success in managing multifamily properties, from construction to stabilization as well as value-add investments and physically maintaining older properties at their utmost physical condition. We manage from an owner’s perspective. Our pride of ownership approach in addition to our culture of urgency yields the highest possible results.
We offer a spectrum of services, allowing clients to tailor the support functions that they need on a property by property basis. From brokerage to construction supervision, and day-to-day property management to accounting, our experienced team handles these responsibilities.
Caton’s personal and professional approach to property management and leasing assignments is what sets us apart. Our company motto is Excellence, Every Client, Every Time.
We take care of our clients and residents by:
Providing Professional Customer Service
At Caton, we care about the residents and their wellbeing. That is why we strive to offer excellent customer service. Our management team is professional, responsive, courteous, and friendly. We like to know the residents by name and encourage them to have open lines of communication with us at all times. We respond to emails and phone calls in a timely manner and like to assist residents in Providing Professional Customer Service solving any matters that arise. When work orders are submitted, we address them promptly and contact the appropriate service providers to take care of the matter. Our management team communicates and follows up, two key components of good customer service.
Maintaining The Property At Its Utmost Physical Condition
We take a proactive approach to maintain the property at its utmost physical condition for years to come. Preventive maintenance is at the top of the list when it comes to managing a property. Caton’s seasoned team proactively looks to solve small matters before they become big problems. Our attention to details is important in keeping a property safe and well maintained for years to come. Other matters that Caton attends to range from building signage and cardkey access and security cameras to ordering the right floor mats to avoid slips and falls and implementing policies and procedures to ensure the well-being of all residents.
When Caton takes over the management of a property, a very comprehensive review of the operating budget, reserves and physical asset is conducted. All previous year’s expenses are reviewed to better understand the property’s operational requirements. Current service contracts are reviewed for services included and warranties and expiration dates are noted. We like to meet with the existing service contractors to get to know them and assess their competencies. Service contracts are bid out every other year to ensure pricing is in line. All other operating procedures are reviewed to ensure that current practices are best for the asset and that they are done at reasonable costs in accordance with BOMA & IREM standards.
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Historical insurance costs and real estate taxes are reviewed and whenever advisable by a tax attorney firm, real estate taxes are appealed, and insurance policies are sent to be reviewed for adequate coverage by an insurance broker and put out to bid for the following year’s policy premiums.
Collecting Rents In A Timely Manner
We regularly check to ensure that every resident pays their rent on time and send reminder notices to those whose payments have not been received. Open lines of communication are key to ensure that all rents are accounted for and that ownership is aware of any particular issues with collections.
Mitigating Crisis And Potential Risks
At Caton, we believe that our fiduciary responsibility to our clients includes watching out for their interests and mitigating any type of crisis or potential risks. That is why weekly onsite visits are made to identify any potential problems or liabilities and mitigate them right away. Our staff is experienced in handling crisis situations such as a pandemic crisis, fire, bomb threats, and active shooters.
Healthy safety is a top priority for Caton. We work hand in hand with owners and tenants to implement best practice cleaning guidelines, and establish protocols that follow and align with state and health mandates regarding pandemics, contagions and other health safety hazards for the properties we manage. Mitigating risks also includes making sure that all residents and contractors carry appropriate insurance coverage and that the properties’ ownership entities and Caton are both listed as additional insured in case an accident occurs.
Additionally, we like to take a proactive approach to maintain the asset at its optimum level to ensure that no unnecessary risks arise. These include making sure that there are no trip hazards at the property, the mechanical rooms are free of debris and clutter, trees brushing up against the buildings are trimmed, fire sprinklers are tested annually, fire extinguishers and smoke and carbon monoxide detectors are properly inspected annually and replaced accordingly, and all staff and contractors follow OSHA requirements and all safety precautions are followed. Annual safety training is coordinated for on-site staff, if applicable. A preventive maintenance plan is also drafted for each property and implemented to keep the property in optimum condition.
Furthermore, the properties’ general liability insurance policy is sent to a qualified commercial insurance broker to be reviewed for adequate coverage and bid out every two or three years.
Caring For The Environment
At Caton, we care about the footprint we leave behind for generations to come. That is why we ask our contractors to be conscious of the environment and use products and processes that are environmentally friendly and energy saving. We also manage every property proactively. Any signs of leaks are attended to right away to avoid any mold and mildew. If a property renovation takes place in an older property, we ensure that any form of asbestos is properly incapsulated and remediation is performed by a certified professional.
Additionally, whenever possible, light fixtures throughout the common areas are replaced with LED lighting. We highly recommend Energy Star appliances and equipment to save energy. Also, we encourage residents to recycle and whenever possible negotiate with waste management companies for properly labeled containers and recycling pick-ups.