What Do Lenders Really Want from Property Managers?

By Michael Giese, Executive Director, Glenstar

There are times when it seems that lenders, loans and reporting requirements are a mystery, 而这一个失误可能会让你的资金陷入危险.  有这么多的风险，物业经理怎么可能知道贷款人想要什么?

Minimizing Risk Through Key Metrics

让我们从出借人的角度来看问题.  他们经常为购买资产提供债务, 此外，它还可能为未来的建筑改进和租赁佣金提供资金.

因为贷方已经承诺为你的项目提供资金, 他们在寻求投资回报的同时，试图将风险降到最低.  有了这个，通常有四个关键的事情要记住:

• Income and expenses
• Major leases
• Ongoing construction work
• Tenants delinquencies

评估这些区域有助于贷款人不断评估建筑物是否有可能履行其贷款义务.

Increasing Lender Requirements

Lender requirements have increased over the years.  Today, for example, 许多贷款人使用顾问来审查和确认建筑完工百分比.

For example, 如果贷款人提供1000万美元的未来资金用于改善建筑, 贷款人可能会有独立的顾问审查项目, 核实完工率，评估施工文件.

这使得物业经理阅读贷款文件和了解报告要求变得至关重要, 包括需要提供哪些文件以及何时提供.

Additional Notification Requirements

除了报告施工进度，经理还需要做哪些通知? Tenant defaults are usually one.  如果你有一个房客，而他们没有付款，经理通常必须向贷款人报告.

Additionally, 可能会出现费用高于或收入低于贷款人批准预算的情况.  Loan documents generally provide reporting thresholds on variances that need to be reported.   不需要报告的差异通常被称为 permitted expense deviations.

When Alarm Bells Go Off

When revenue falls short or expense overages occur, 遵循贷款文件中列出的报告要求是很重要的.  你不想做任何让你拖欠贷款契约的事情.  Full transparency is important.

如果收入开始下降或支出攀升过高， the lender may reduce future funding.

假设贷款人准备提供1000万美元的建设资金, but because the largest tenant is not paying, 贷方可以降低这一数额，以最大限度地降低风险并维持偿债覆盖率.  The debt service coverage ratio (DCR) 这个数字是基于净营业收入而不是债务偿还吗.  Once your ratio drops below an acceptable level, defined in your loan document, 贷款人通常有权将你的收入转移到他们控制的账户中.

例如，一栋大楼这个月的租金是100万美元. 通常，这100万美元会直接流入运营账户，用于支付商品和服务.  However, if your DCR is poor, the lender may hold the $1 million, 偿还自己的债务，并为税收和保险存钱, before sending you the rest.

Understanding the Budgeting Process

From an annual perspective, 管理人员通常需要在特定的到期日向贷款人提供预算, 贷款人有30到60天的时间来批准.  虽然你不想在没有批准预算的情况下开始在更大的项目上花钱, urgent issues involving emergency repairs could arise.  In any event, typically 任何超出贷款参数的费用差异通常需要贷款人的书面批准.

Over time, 贷款人要求审查和批准某些租赁和重大服务合同, 所以你的团队应该知道哪些类型需要贷款人的批准.  Let’s take a closer look at some of these:

• Many loans require lender approval for service contracts that exceed a certain term, even with a 30-day cancellation.
• Service 没有30天取消政策的协议 sometimes require lender approval.

• Occasionally, service 年付款超过一定金额的合同, such as $1 million, may require lender approval.
• If proposed leases or amendment do not meet pre-established minimum guidelines, they often require lender approval.

Communicate Regularly

你应该定期和完全透明的和你的贷款人沟通.

说到底，贷款人想要的是本金和利息的回报.  我们从贷款中提取多少佣金和资本再开发? What is the monthly debt service?  这栋建筑现在和未来的现金流是多少?  All of these are important questions.

当你越来越了解贷款人想要什么, 你会发现定期和透明的沟通对多方都有好处, including lenders, services, owners and managers.

从改善贷款人关系到理解会计原则, BOMA/Chicago为像你这样的物业管理团队提供了20多个教育项目，你也可以参加. 了解哪个程序是最适合你通过访问我们的 Education section 或联系教育主任杰奎琳·马登 jmadden@yeeker.net or 312.870.9608.