Protea Real Estate Property Management

Our Team

Overwhelmed with chasing down rent payments, those annoying middle of the night phone calls or the management company that does not return calls or care about profitability?
Then hire a professional!

Testimonials

“Protea Real Estate manages our property like it was Protea's own property.”
read more

Free Report

Commercial Real Estate Property Management

Gundle Holdings, Inc., doing business as Protea Real Estate, manages real estate of all types, in various cities in Texas, Arizona, Colorado, Oklahoma, New Mexico and Louisiana.

Protea is an affiliate of Centrecorp Management Services Limited and the North American Development Group, which has its executive office in Toronto, Canada, with other Canadian offices in Edmonton and Montreal, and United States offices in Palm Beach, Charlotte, Dallas, San Antonio, and Scottsdale. Centrecorp Management Services Limited and the North American Development Group are diversified North American real estate investment and services companies which develop and manage retail properties in Canada and the United States, and acquire and hold land for future development.

Protea's president, Godfrey Traub, has been engaged in property management and development since 1976 (over 31 years!) in both Canada and the United States.

Protea and its employees have managed hundreds of shopping centers, multi-family properties, associations and other commercial real estate

Why Choose Protea for your Property Management?

Protea Real Estate strives to provide the most professional and efficient property management service available in order to maximize the profitability of the real estate.

Protea Real Estate has over 30 years of experience in all facets of real estate management including:

Accounting

All management companies have this amenity, not all are efficient. We have a separate payables department and systems in place to minimize mistakes. We have a separate accounts receivable department which deals also with recovering funds from lenders out of reserves held by lenders.

Our accounting department has vast experience in cash or accrual accounting and prepares reports for clients which are easy to understand.

Like any discipline, there are the good accounting departments, which know exactly what to do and do it efficiently, with few errors, and the bad, where many errors occur, postings to the wrong accounts, unable to get last month's financials out on a timely basis, expenses incorrectly labeled, moneys deposited in the wrong accounts, etc. etc.

Our accounting department is praised by all our clients over all the years - never had a complaint, which is an unbelievable record.

Property Maintenance

In the DFW area, we have a team of roving maintenance people who can attend to needed repairs and maintenance 24/7 and are able to handle the difficult work that most in-house apartment complex staff cannot handle, as well as maintenance for shopping centers and office buildings.

Emergencies will often occur on weekends and holidays, when it is often impossible to get contractors to come out. Over the years, owners have raved about the convenience and benefit, not to mention cost savings, of our team.

Outside of DFW, we have made arrangements with trusted vendors who are just a phone call away.

Customer Service and Relations

Property Rehab

Say there has been a fire, or a tornado, or even hail damage, the buildings will have to be rehabilitated. We have had extensive experience with fires, hail damage, and other claims.

Due Diligence

Where a prospective buyer signs a contract to purchase, in nearly all cases a period of (say) 60 days is given to the buyer for due diligence. The buyer then has the property inspected, often very comprehensively. For example, we walk all 300 apartments, inspect everything inside each apartment, note which appliances, carpets, etc., need to be changed, is A/C working, etc. Also, we arrange for the roofs and foundations to be checked by experts. We may oversee environment inspections performed by consultants, and physical condition inspections by engineers. Inspect exterior walls, parking lots, driveways, etc. Audit each lease file to tie these in with the rent roll provided by the seller. Review financials provided by the seller, check zoning, review utility bills. In the case of shopping centers and offices, review the status of property tax, insurance, and common area maintenance costs and what each tenant has paid towards these to date. Interview tenants. Sometimes oversee preparation of appraisal of the property for the buyer.

Due diligence is a vital exercise. Some of our due diligence is extremely detailed, including investigation of insurance costs, easements, service contracts in place (such as landscaping), investigation of tenant profile, crime in the area, and several other matters. If required, we also prepare our own detailed budget forecast for the buyer.

Property Renovation

The property is old and looks it. Renovation could mean repainting the exteriors, replacing aged appliances and carpets, adding awnings, changing out furniture and equipment in offices, clubhouse and health center, repaving pool surrounds - anything to upgrade the property.

Property Insurance Claims Handling

Let's say there is a hail storm. We have experience with using the best public adjusters, who will inspect roofs in detail and whose reports will be acceptable to the insurer. We have succeeded in getting new roofs for the owners after hail storms. We have experienced numerous fires and have been able to have the buildings reconstructed at no or little cost to owners. If you don't know your way around these type of insurance claims, it can cost you big time.

When you get the insurer to agree to your adjuster's assessment of the amount of the claim, you then have to know which contractors you should have bid for the work.

Later, it is important to file a claim for loss of rent suffered from the date of the calamity until the damaged part is ready to occupy. This requires experience and expertise, which we have after so many years in the business.

Property Tax Assessment Protests

The Personnel of Protea Real Estate have been very successfully handling property tax protests for over thirty (30) years, for many different types of properties, and in several different jurisdictions. Results obtained have usually exceeded the expectations of Protea's clients.

Working to Lower Your Insurance Cost

Because you can become an additional insured on Protea's master policies, you enjoy lower premium rates because the master policies cover many properties, something like a bulk rate discount.

You profit from our expertise in all aspects of property management to enhance the bottom line and have peace of mind knowing that your property is well taken care of and that your investment is growing.