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Property Management
 Luxor Management Inc. has offices in Sudbury 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.
Our multi-family residential portfolio consists of approximately 1,100 units, which consist of a mix of townhouses, highrise, mixed-use and non-profit projects;
Our commercial portfolio includes a mixture of strip retail/centres, office buildings and medical centres;
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/Domin-8 Enterprise listings and Yardi Accounting Systems
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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;
- Full twelve-month budget
- Building description, including a summary list of any deficiencies
- Rental Analysis - this section will provide an analysis of the present rental market in comparison to the subject property
- Preliminary estimates to cure and make good any/or all deficiencies or repairs
- Summary conclusion and recommendations
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