An owner’s analyst, every quarter
Reports, calendars and budget review, while your manager runs the buildings.
- Length
- Ongoing, billed monthly, 30 days’ notice to end
- Price, indicative
- From $1,500 per month
This is advisory work, not property management. Your property manager collects rent, handles tenants and holds deposits. We read what they send, keep the calendars, review the budget and tell you each quarter what needs a decision, so every number your buildings produce has an independent second reader.
How a retainer year runs
- First 30 days
Everything read once
Leases, loans, tax notices, budget and management agreement read; calendars built for every property.
- Every month
Statements checked
Your manager’s monthly statements read against the budget, with variances and open questions listed.
- Every quarter
Quarterly report
Income, leases, debt, tax and capital items for each property, the decisions due, and a call.
- Each budget season
Budget reviewed
The manager’s draft budget read line by line before you approve it, with questions attached.
- As dates approach
Dates flagged
Written notice 90 days before option windows, lease expirations, loan maturities and expected tax notices.
What lands on your desk
- Who it is for
- Owners with a property manager, often far from the property
- Format
- Monthly checks, quarterly report and call, calendars all year
- A quarterly report per property: income, expenses, leases, debt and capital items
- A calendar of lease dates, option windows, tax notices and loan maturities
- A monthly read of your manager’s statements against the budget
- An annual budget review before you approve the manager’s draft
- Written questions for your manager, followed until they are answered
- A quarterly call, and replies to email within one business day
Who it suits, and who not
Right for you if
- Out-of-state owners of Wyoming or northern Colorado property
- Owners with a property manager but no one checking the numbers
- Families who want one consistent report for every building
- Owners juggling lease, tax and loan dates across several properties
Look elsewhere if
- Rent collection, deposits, showings or tenant calls (that is your property manager’s work)
- Signing leases or contracts for you (you or your manager sign)
- A one-time review (the portfolio health check fits better)
Example: an out-of-state owner’s three buildings
An owner who lives out of state holds a 10,000 square foot industrial building in Laramie and two small retail buildings in Rawlins, all run by a local property manager. The first quarterly report finds no roof reserve in the manager’s budget for the industrial building’s 1980s roof, and a Rawlins tenant’s renewal option window opening in 75 days. The owner asks the manager for roof bids and a renewal proposal, and Clover State reviews both before the owner decides.
Asset management retainer questions, answered
Is this property management?
No. Wyoming statute (section 33-28-102) defines property management as managing real estate for another for compensation, including collecting rents, maintaining the property and accounting for fees received. The retainer does none of that. Your property manager collects rent, handles tenants and holds deposits; we review their work and report to you.
What if I do not have a property manager?
Then you either manage the buildings yourself or hire a manager first. If you self-manage, the retainer still covers the calendars, budget review and quarterly report. If you are hiring, we can draft the questions to ask candidates and compare their proposed fees and reporting before you choose.
How is the monthly fee set?
By the number of properties, leases and managers involved, quoted in writing after a free 30-minute scoping call. Retainers start from $1,500 per month and are billed monthly. There is no hourly billing and no commission, so the fee does not change with any decision you make.
How do I end the retainer?
With 30 days’ notice, at any time. The retainer is billed monthly, so nothing further is owed once the notice period ends. The calendars, reports and lease summaries we built are yours to keep and to hand to whoever takes the work on next.
Who do I contact once I am a client?
Write to management@cloverstate.com, the address for existing retainer clients, or call (307) 640-9838, Monday to Friday, 9 a.m. to 5 p.m. Mountain. We reply within one business day. Your lead advisor is named in your engagement letter and reads every message about your properties.
Read on before you call
Scope this with us
A free 30-minute call to see whether the asset management retainer fits your property, your dates and your budget.