The State Land Board occasionally releases Requests for Proposals (RFPs) initiatives such as disposition of land, leasing opportunities, and service contracts. Market‐based responses for RFPs support the Board’s selection process of determining the most beneficial opportunities for the trusts in order to preserve the long‐term value and income of the assets.
The State Land Board is no longer seeking responses for the RFP for property managers. Applications were accepted between 10/15/2020 and 12/18/2020 at 1 pm.
(As of 12/18//2020 at 1 pm)
Q&A Regarding RFP for property managers
The Land Board will post all questions and answers pertaining to RFPs on this website within five business days of receiving the question.
(Last update: 11/19/2020 at 11 am)
- The RFP mentions a fee schedule, but one of the required submittals is a fee proposal broken down to various categories. Is the Exhibit C meant to be blank because of this or was it omitted accidentally?
Yes, Exhibit C to the contract comes from the respondent's proposal if it is accepted.
- Will the State accept any modifications to the Property Management Contract?
The contract was vetted by multiple state agencies and any modification would delay a selection or possibly void a submission. There may be minor tweaks to business terms but any changes to insurance or legal terms, including the indemnities, will not be accepted.
- Will the State accept a proposal for some of the properties, but not all 13?
No. The operations require all properties to be manged by one management company.
- Please describe the accounting and financial reporting structure. Is there one bank account, or 13 separate bank accounts?
One operating and reserve account per trust. This is described in the contract.
- Please confirm that each building needs 2 separate budgets completed each year, calendar and fiscal.
Yes, one budget is for fiscal reporting and one budget is for calendar year tenant reconciliations.
- Are we able to sub contract the management for the property in Avon?
The Avon property (Market Place) is already under a sub management agreement with NAI Mountain. The state holds this contract but the primary property management entity shall provide oversight of their building management.
- Where is the current management office located? And will it remain in this same location going forward?
The current management office is at 600 Grant. It is difficult to consider moving the office due to the parking situation. The building provides daily parking vouchers to tenants and a physical presence is required for this service. The tenants at 600 Grant depend on the ability to visit the management office.
- What types of expenses are included in the “overhead fees”?
Salaries and other administration costs.
- Do you want the fees to be submitted by building?
- Please confirm banking is – 3 bank accounts per trust/reporting package (an operating account, security deposit account and capital) held by the PM company per page 16 of the RFP.
- Please confirm accounting database is to be chosen and administered by PM company. What reporting system is currently being used and will an upload be available from prior PM company?
The accounting software can be specific to the PM company. It needs to be compatible with all the accounting requirements listed. The current accounting software is Yardi. Your transition plan should address how the existing information will be transferred.
- How many sets of books? One per building? So a total of 5 including the parking?
There are thirteen (13) properties included in the RFP. Each property requires a monthly financial report. In addition, we require a consolidated report for the school trust assets and the internal improvements assets.
- How many reporting packages?
13 financial reports plus two consolidated reports.
- Is the standard reporting sufficient? If not – please provide additional items required.
No answer. This will be part of the RFP review.
- Since the State will be holding all service contracts, vendor contracts, and GC contracts, but the property manager would be responsible for managing these vendors, can the property manager be named as additional insureds on all certificates of insurance?
You are welcome to request to be added as an additional insured alongside the Landlord.
- Under page 15 of the agreement, Insurance, section D – what kind of personal or protected information are you referring to? We want to make sure that our Cyber liability is sufficient to meet your standard.
The property manager holds information related to tenants, contractors, and subcontractors that may be sensitive/private such as account numbers, addresses, social security numbers, the status of payments, etc.
- Is it ok to contact the 3rd party management company in Avon to understand their responsibilities, scope of work, and more about this company?
No, it is not okay to contact the 3rd party management company in Avon. Their scope and responsibilities are typical/similar to any property management company.
- Can you please describe the Centennial Hangar building? I have not been able to find an address or any information on this property.
The address of the hangar is 13352 E. Control Tower Road, Englewood, CO. The SLB leases the hangar to the Department of Public Safety.