Open-Air Management Audit Template - Short Version

• Property Name

• Conducted on

  Date

• Prepared by

• Owner

• Document

• Property Manager

PROPERTY AGREEMENTS

• Does the property have a fully-executed management agreement and amendments, if any?

  Yes

  No

  N/A

• Where is it kept?

• Are copies of all REA's (Reciprocal Easement Agreement) and/or CC&R's (Covenants, Conditions and Restrictions) saved electronically for the property?

  Yes

  No

  N/A

• Where are they kept?

• Do you review the monthly Management Fee calculations

  Yes

  No

• What is the current balance due?

INSURANCE

• How are you tracking COIs?

  Jones

  JLL Smartsheet

  Other

• Please explain

• What is your overall process for tracking and filing claims (both internally and externally) e.g., slip and falls; or any other potential act that could open the LL to liability?

• Does the property have a current Insurance Certificate for JLL matching the requirements of the management agreement?

  Yes

  No

• Where do you request an updated JLL COI?

• Where are they kept?

• Does the property have a current Insurance Certificate for the OWNER matching the requirements of the management agreement?

  Yes

  No

• Where do you request an updated OWNER COI?

• Where are they kept?

IT

• Does the property have a JLL SharePoint Site?

  Yes

  No

• Where are files kept?

  OneDrive

  Local Server

  Client Site

  C Drive

  Other

• Please explain

• Are they electronic?

  Yes

  No

• Does the regional team have access?

  Yes

  No

• How does regional team access files?

• Are all property files stored there including monthly financials?

  Yes

  No

  N/A

• What files are not stored on SharePoint?

TENANT DOCUMENTATION/TENANT BILLING-AR/ACCOUNTS PAYABLE

• Does the property have an updated list of tenant kick-out clauses, co-tenancy provisions, early termination rights and relocation rights?

  Yes

  No

• How often is it updated?

• Who enters sales?

• Are there any invoices that are being processed outside of PayScan or P2P?

  Yes

  No

• Please explain.

EMERGENCY PROCEDURES

• Do you have an updated Emergency Response Manual/Open-Air Property Workbook?

  Yes

  No

• Is the Emergency Response Manual/Open-Air Property Workbook saved on SharePoint?

  Yes

  No

• Please insert link to Workbook

• Has the "Emergency Contact List" been updated within the last 3 months?

  Yes

  No

• Does the property use Red Flag?

  Yes

  No

• List key internal contacts (corporate/regional) that are listed in Red Flag for the property

VENDORS

• Are all vendors that perform work for the Property under contract?

  Yes

  No

• Are only JLL-standard contract forms used?

  Yes

  No

• Has the Client provided written approval to use non-standard forms?

  Yes

  No

• Are vendor agreements fully-executed prior to the commencement of the services?

  Yes

  No

• Does a Vice President or Regional Operations Manager sign all vendor agreements?

  Yes

  No

LICENSE AGREEMENTS

• Does the property have License Agreements?

  Yes

  No

• What types of manual changes can be made to the License Agreement?

• How are these changes made?

• Where do you keep digital and/or hard copies of the executed License Agreements?

TENANT MOVE IN/MOVE OUT

• Do you make recommendations for contractors?

  Yes

  No

• How do you determine your list of recommended contractors?

• If a Tenant is completing work within the space, what is the approval process to do so?

• What is needed for contract work to be done in a temp tenant space?

• When a tenant moves out, is an inspection of the space completed?

  Yes

  No

STORAGE

• Do you have any storage in any vacant spaces or utility rooms?

  Yes

  No

• Do you have any tenant storage in vacant spaces?

  Yes

  No

• How often are storage units inspected?

• How is it determined if the Tenant storage is in compliance? (i.e., no hazardous materials, no other tenant storing items, no one living in space, etc.)

AUDITOR DOCUMENTS TO REVEIW

• Confirm all key personnel have taken the latest Retail Emergency Preparedness Training. (have Carrie Trongone run report)

• Does the property have JLL Code of Conduct posted?

  Yes

  No

  Client Declined

• Does the property have CA Prop-65 (if applicable) posted?

  Yes

  No

  N/A

• Review liability claim file to assure they are turned into insurance timely and have case number

• Review how keys to vacant spaces are stored.

• Review the Property SharePoint site and ensure Management Agreement is NOT on Property SharePoint site.

• When were updates to tenant contact information made? (Provide date)

• Produce client approval if contract term extends beyond one year and also Produce owner documentation of approval for any contracts without 30 day term notice

• Does the property have a public access sign off form from the client on file?

  Yes

  No

  N/A

• Tenant Name

• Is the Lease Executed?

  Yes

  No

• Please explain.

• Is lease expired?

  Yes

  No

• Are Amendments (if applicable) Executed?

  Yes

  No

  N/A

• Please explain

• Current Insurance Certificate? Attach copy of COI

  Yes

  No

• Is Owner added as Additional Insured?

  Yes

  No

• Is JLL added as Additional Insured?

  Yes

  No

• Is there a Cancellation Notice on COI?

  Yes

  No

• Do coverages match Lease?

  Yes

  No

• Confirm monthly rent in leases matches rent roll

  Yes

  No

• Tenant Name

• Is the Lease Executed?

  Yes

  No

• Please explain.

• Is lease expired?

  Yes

  No

• Are Amendments (if applicable) Executed?

  Yes

  No

  N/A

• Please explain

• Current Insurance Certificate? Attach copy of COI

  Yes

  No

• Is Owner added as Additional Insured?

  Yes

  No

• Is JLL added as Additional Insured?

  Yes

  No

• Is there a Cancellation Notice on COI?

  Yes

  No

• Do coverages match Lease?

  Yes

  No

• Confirm monthly rent in leases matches rent roll

  Yes

  No

• Tenant Name

• Is the Lease Executed?

  Yes

  No

• Please explain.

• Is lease expired?

  Yes

  No

• Are Amendments (if applicable) Executed?

  Yes

  No

  N/A

• Please explain

• Current Insurance Certificate? Attach copy of COI

  Yes

  No

• Is Owner added as Additional Insured?

  Yes

  No

• Is JLL added as Additional Insured?

  Yes

  No

• Is there a Cancellation Notice on COI?

  Yes

  No

• Do coverages match Lease?

  Yes

  No

• Confirm monthly rent in leases matches rent roll

  Yes

  No

• Tenant Name

• Is the Lease Executed?

  Yes

  No

• Please explain.

• Is lease expired?

  Yes

  No

• Are Amendments (if applicable) Executed?

  Yes

  No

  N/A

• Please explain

• Current Insurance Certificate? Attach copy of COI

  Yes

  No

• Is Owner added as Additional Insured?

  Yes

  No

• Is JLL added as Additional Insured?

  Yes

  No

• Is there a Cancellation Notice on COI?

  Yes

  No

• Do coverages match Lease?

  Yes

  No

• Confirm monthly rent in leases matches rent roll

  Yes

  No

• Tenant Name

• Is the Lease Executed?

  Yes

  No

• Please explain.

• Is lease expired?

  Yes

  No

• Are Amendments (if applicable) Executed?

  Yes

  No

  N/A

• Please explain

• Current Insurance Certificate? Attach copy of COI

  Yes

  No

• Is Owner added as Additional Insured?

  Yes

  No

• Is JLL added as Additional Insured?

  Yes

  No

• Is there a Cancellation Notice on COI?

  Yes

  No

• Do coverages match Lease?

  Yes

  No

• Confirm monthly rent in leases matches rent roll

  Yes

  No

OPERATIONS

• Does the property have Security?

  Yes

  No

• Security Contractor Name

• Are security guards or off-duty police officers armed?

  Yes

  No

  N/A

• Review evidence of proper insurance coverage

• Is the contract current? Attach copy of contract

  Yes

  No

• How frequent is the contract bid out?

• Who is it signed by?

• 30 Day Termination Provision? If not provide termination period.

• Current Insurance Certificate? Attach copy of COI

  Yes

  No

• Owner is added as Additional Insured?

  Yes

  No

• JLL is added as Additional Insured?

  Yes

  No

• Insurance Matches Contract Provisions?

  Yes

  No

• Does the property have Janitorial service?

  Yes

  No

• Janitorial Contractor Name

• Is the contract current? Attach copy of contract

  Yes

  No

• How frequent is the contract bid out?

• Who is it signed by?

• 30 Day Termination Provision? If not provide termination period.

• Current Insurance Certificate? Attach copy of COI

  Yes

  No

• Owner is added as Additional Insured?

  Yes

  No

• JLL is added as Additional Insured?

  Yes

  No

• Insurance Matches Contract Provisions?

  Yes

  No

• Landscaping Contractor Name

• Is the contract current? Attach copy of contract

  Yes

  No

• How frequent is the contract bid out?

• Who is it signed by?

• 30 Day Termination Provision? If not provide termination period.

• Current Insurance Certificate? Attach copy of COI

  Yes

  No

• Owner is added as Additional Insured?

  Yes

  No

• JLL is added as Additional Insured?

  Yes

  No

• Insurance Matches Contract Provisions?

  Yes

  No

• Misc. Contractor - Provide Name and Service

• Is the contract current? Attach copy of contract

  Yes

  No

• How frequent is the contract bid out?

• Who is it signed by?

• 30 Day Termination Provision? If not provide termination period.

• Current Insurance Certificate? Attach copy of COI

  Yes

  No

• Owner is added as Additional Insured?

  Yes

  No

• JLL is added as Additional Insured?

  Yes

  No

• Insurance Matches Contract Provisions?

  Yes

  No

• Misc. Contractor - Provide Name and Service

• Is the contract current? Attach copy of contract

  Yes

  No

• How frequent is the contract bid out?

• Who is it signed by?

• 30 Day Termination Provision? If not provide termination period.

• Current Insurance Certificate? Attach copy of COI

  Yes

  No

• Owner is added as Additional Insured?

  Yes

  No

• JLL is added as Additional Insured?

  Yes

  No

• Insurance Matches Contract Provisions?

  Yes

  No

• Tenant Name

• Space # Matches Rent Roll

  Yes

  No

• Date Agreement is Fully Executed

• If applicable, Previous Agreement Expiration Date

• Who signs License Agreement on behalf of property? (name & title)

• Is Certificate of Insurance (COI) Current? Attach copy of COI

  Yes

  No

• Is Owner listed as Additional Insured?

  Yes

  No

• Is JLL listed as Additional Insured?

  Yes

  No

• Who is the Certificate Holder?

• Cancel Notice on COI?

  Yes

  No

• Does COI coverage match agreement?

  Yes

  No

• License Agreement Terms Accurately Roll-Up to the Rent Roll

  Yes

  No

• Tenant Name

• Space # Matches Rent Roll

  Yes

  No

• Date Agreement is Fully Executed

• If applicable, Previous Agreement Expiration Date

• Who signs License Agreement on behalf of property? (name & title)

• Is Certificate of Insurance (COI) Current? Attach copy of COI

  Yes

  No

• Is Owner listed as Additional Insured?

  Yes

  No

• Is JLL listed as Additional Insured?

  Yes

  No

• Who is the Certificate Holder?

• Cancel Notice on COI?

  Yes

  No

• Does COI coverage match agreement?

  Yes

  No

• Copies of Rent checks in file?

  Yes

  No

• License Agreement Terms Accurately Roll-Up to the Rent Roll

  Yes

  No

• Are there any lien waivers on file (P2P) for capital or building projects for this calendar year? NOTE: Need to make sure we have the executed Lien Release before the final payment. Note: the DWS rule is any invoice over $10K should have a lien waiver. JLL Rule is $5K.

  Yes

  No

• Please provide close out files

  Media

• Review close out package that includes: Contract, Invoices, ECAF (if applicable), Change Orders (If applicable) and Final Lien Release. NOTE: Have PM review with you to show you change orders, etc. and a general understanding and completeness of package. If there are significant number of projects, spot check 3-4. We have a process/form in place for review and approval before each project is submitted for payment. APM gathers contracts, invoice, lien waivers, etc. tallies up invoices and calculates the CM fee.

• Review JLL COI for the following required additional insureds: RREEF Management, LLC; RREEF America, LLC; The Legal Owning Entity. The following statement must be present: Advisor and any affiliates of owner or advisor are named as additional insured ATIMA as required per the PMA. NOTE: 1. Ensure Certificate Holder is DWS Asset Manager Head of Retail at their business address, city and state. 2. Ensure the carrier has a best rating VII or better.

• Real Estate Tax Bills Payments - PM to provide tax bills for the year and confirmation they have been paid. Confirm there are not any late fees.

• Contractor Documentation: Confirm each contractor/vendor has completed the "Certification of Responsible Contractor Status" form and placed in contractor file. If the contractor/vendor will not sign the form, documentation must be placed in the file and this contractor/vendor shall not be used at any client reporting property. NOTE: This is for all contractors that are paid $25K or more in a calendar year. Best practice is to have all contractors complete a Responsible Contractor form when setting up. For those paid over $25K they will need to re-submit annually.

• Does the property conduct the Annual Environmental Audit as required by the DWS Environmental Policy?

  Yes

  No

• Please explain

• When was it budgeted?

  Date

• When was it completed?

  Date

• Is the report on file in the DWS system? NOTE: PM to provide online report

  Yes

  No

• Are there any outstanding corrective actions? (spot check)

  Yes

  No

  N/A

• Report is provided by consultant so it should be sent to RREEF Engineering and asset manager for review and approval. Once the report is final it must be posted to Orion. Confirm if report is final and posted to Orion

• Does the property conduct the Annual Roof Audit as required?

  Yes

  No

• Please explain

• When was it budgeted?

  Date

• When was it completed?

  Date

• Is the report on file in the DWS system? NOTE: PM to provide online report

  Yes

  No

• Are there any outstanding corrective actions? (spot check)

  Yes

  No

  N/A

• Report is provided by consultant so it should be sent to RREEF Engineering and asset manager for review and approval. Once the report is final it must be posted to Orion. Confirm if report is final and posted to Orion

• Confirm that manager has completed the annual UBTI Training. Laura Griffin can confirm attendees.

  Yes

  No

• Please explain.

• Signature Blocks - review contract documents to ensure the following signature block is being used. Signature block should read: Ownership Entity, BY: Contract Manager Entity (Jones Lang LaSalle Americas, Inc., managing agent), BY:, TITLE, DATE

• Confirm which contract form the property uses. NOTE: Property can use Approved JLL DWS Form or the DWS Contract Form. (90% of the time, DWS forms are used.)

  JLL DWS Form

  DWS Contract Form

  Other

• Please explain.

• Confirm property is following the bid requirements outlined in the Management Agreement Section 2.1.3. NOTE: Request most recent 3 bids: RFP was sent out, at least 2 bids received (3 if over $10,000), reasoning of contract decision (i.e., if they went with a high bid). IF not following 3 year bid process, need to see proof from client in file. NO MONTH TO MONTH!!! Check the following:

• Bid 1:

• Do they have a Bid Documentation Form?

  Yes

  No

• Are there two signatures - PM/RM?

  Yes

  No

• Has RM reviewed?

  Yes

  No

• $4,999 and under: invoice; $5-$9,999: Exhibit C, $10,000: 3 bids

  Yes

  No

• Has DWS Asset Mgr approved if over $50,000 via email?

  Yes

  No

• Has paperwork been entered into Yardi?

  Yes

  No

• Bid 2:

• Do they have a Bid Documentation Form?

  Yes

  No

• Are there two signatures - PM/RM?

  Yes

  No

• Has RM reviewed?

  Yes

  No

• $4,999 and under: invoice; $5-$9,999: Exhibit C, $10,000: 3 bids

  Yes

  No

• Has DWS Asset Mgr approved if over $50,000 via email?

  Yes

  No

• Has paperwork been entered into Yardi?

  Yes

  No

• Bid 3:

• Do they have a Bid Documentation Form?

  Yes

  No

• Are there two signatures - PM/RM?

  Yes

  No

• Has RM reviewed?

  Yes

  No

• $4,999 and under: invoice; $5-$9,999: Exhibit C, $10,000: 3 bids

  Yes

  No

• Has DWS Asset Mgr approved if over $50,000 via email?

  Yes

  No

• Has paperwork been entered into Yardi?

  Yes

  No

• Did the property complete the RAR2 Commercial Capital Tracker as required? (if applicable).

  Yes

  No

  N/A

• Computer equipment. Computers cannot be owned by the property. There must be a lease in place for computer equipment. Ensure paid off in timeframe allowed (6-12 months) - review file.

• Request property inventory and determine if anything is owned. Equipment that should not be owned: (i.e., snowblowers, golf carts, Xerox, etc.)

• Emergency Response Quick List. Confirm property has most recent version and provide Date.

• Review Incident Reports to make sure they have been submitted within 24 Hours and to Liz Malka at RREEF Risk Management. Review forms. NOTE: 24 hours starts from notification of an incident, not necessarily when the incident occurred. If a Weekend, must be submitted on Monday.

• When was the Semi-Annual Property Inspection budgeted?

  Date

• When was it completed?

  Date

• Was it sent to Asset Manager and signed and a copy kept on file and posted to Orion?

  Yes

  No