Property Management
Luxor Management Inc. has offices in Sudbury and North Bay, and has been in the Property Management business since 1977. As fee managers, we currently manage one of the largest portfolios of multi-family residential, commercial and office buildings in Northern Ontario.
Luxor Management Inc. is a privately held corporation owned by Larry R.Gauthier and Jean R. LeBlanc and serves as the management arm of Mallette-Goring Inc. The latter company's activities are essentially limited to sales, leasing and consulting to the commercial real estate sector and in so doing delivers a support function to the commercial properties under its management.
The principals of the company are active in all aspects of daily property management and are currently supported by an accounting and clerical staff of five (5) employees. Two of our bookkeeping staff have been associated with the company since its inception and provide a broad base of hands on experience.
A cross section of our current institutional clients is as follows;
- Canada Mortgage and Housing Corporation
- Royal Bank of Canada
- Bank of Montreal
- Canada Life
- Canadian Imperial Bank of Commerce
- TD Canada Trust
- Sun Life Insurance
- Bank of Nova Scotia
- Maritime Life
Our multi-family residential portfolio consists of approximately 1,100 units, which consist of;
- Townhouse/Condominium projects
- Non-profit seniors complex
- High rise apartment complexes
- Walk-up apartment complexes
- Mixed townhouse and high rise complex
- Mixed multi-residential/commercial complex
Our commercial portfolio includes the following;
- Multi-floor office complex
- Retail malls ranging in size from 15,000 to 120,000 square feet
- Medical office complex
Services Provided
The following is a summary of services provided by Luxor Management Inc in a typical management contract;
- Prepare an annual operating budget, to be approved by the principals
- Hire, discharge and pay all employees required for the operating efficiency of the project
- Collect all rents, and to deposit all funds collected in a custodial account
- Operate and maintain the project to standards prescribed by the principals
- Provide complete monthly financial reporting (accrual or cash basis), with an editorial summary of monthly issues
- Develop, negotiate, maintain and oversee programs in relation to maintenance, repairs and capital replacements
- Maintain an active leasing/rental program
- We are currently using the SPECTRA Accounting Software System
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Within sixty (60) days of the commencement of our mandate, we provide a complete property condition report. The report includes the following;
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