A core tenet of Intrepid’s business is the efficient and prudent management of our properties. This philosophy is key to retaining current tenants, to finding new ones and to repositioning a given property in the market. Intrepid utilizes the latest technologies and software to help in this process, but when it comes down to it, the difference is in how we transform a property through solid management.

Our management business is centered on a few key areas:

Annual Planning and Budgeting
Each year we create property plans that assess and account for market conditions and positioning, tenant rollover, capital improvements, physical condition of the property and the prior year’s operating experience. We address operating efficiencies, capital expenditures and budgets for the coming year all with an eye toward optimizing operating income and enhancing the market position of a given property.

Real Estate Tax Optimization
Intrepid aggressively pursues cost savings through favorable real estate tax assessments. Our collective knowledge of the local tax process allows us to seek the most advantageous position for our properties.

Physical Maintenance of Property
A fundamental to successfully repositioning any property is undertaking immediate physical improvements and capital expenditures. Once complete, we then regularly inspect our properties to establish proper staffing, cleaning and compliance with appearance standards that benefit tenant and owner alike.

Tenant Relations
The last, but perhaps the most important, key to our management strategy is our commitment to tenant relations. Maintaining current tenants is a pillar of our ongoing business while it also helps to attract new tenants that are crucial our long-term success. Our tenants’ perceptions, and those of potential tenants, are the fulcrum in repositioning a property; if they don’t feel good about a property, chances are neither will anyone else. To keep a finger on the pulse of our tenants’ feelings, Intrepid routinely undertakes surveys and discussions to gain valuable insight into their thinking. In the end, our responsiveness to our tenants is our most important public relations tool.