IMGRail Consulting’s Railroad Property Management Division can provide a turnkey solution for management of your railroad property or tailor a management program to meet you specific property management requirements.
Through our Property Management services our clients have increased time to devote to their core business of freight transportation. We have an extensive track record of increasing revenues, reducing risk and lowering operating expenses for our clients’ over the past 25 years.
Our turnkey Property Management service starts with a desk audit of all License Agreements. Our experienced staff reads every page of every agreement to provide accurate data to be incorporated into IMG’s proprietary data base, facilitating instant access to data required by your railroad.
Results of Desk Audit Include:
• Pertinent information for input to data base
• Incomplete files (example – no current liability insurance coverage)
• Active License Agreements not being billed
• License Agreements under our agreed upon Fee Schedule
• Change of ownership with no Adoption Agreement or liability insurance coverage
• License Agreements with past due fees
A License Agreement fee schedule is then developed appropriate for your local area and economic conditions. This fee schedule is developed by IMG in conjunction with input from the railroad and final approval by your railroad.
Results from Establishing Current Fee Schedule:
• License fee increase letters sent to under market Licensees (with prior approval of railroad)
• Notification of Adoption Agreement letters sent to new owners of existing License Agreements
• Collection letters sent to Licensees with past due accounts
• Negotiation all of the above
While the above is in process, an on-site field inspection will take place by IMG’s experienced field personnel for the purpose of determining Licensee compliance with the terms of the License Agreements, discovery of unlicensed encroachments followed by initiation of a fee based License Agreement. We also identify excess parcels that may be suitable for Billboard Companies and/or Communication Tower Companies, most of whom we have established relationships.
Other Property Management services include:
• Billing of all License Agreements
• Receipt of License Agreement fees followed by a detailed report of receipts and delinquent accounts sent to the railroad along with the railroad’s portion of collected fees (monthly)
• Collection of past due fees
• Preparation of all new License Agreements, Adoption Agreements, Right of Entry Agreements and related documents including the collection of the appropriate fees associated with each Agreement
• Oversee the implementation of engineering reviews and liability insurance coverage
• Send executed documents to railroad for final approval and execution
• Negotiation as necessary relating to the use of standard License Agreement provisions and associated fees
• Receive all calls from current Licensees, prospective Licensees and any other calls relating to railroad property
Because of IMG’s extensive background in railroad Property Management, established relationships with most major utility companies, knowledge of industry standard rates and experience in negotiating License Agreements, past and current clients have found that IMG consistently generates more revenue than your in-house staff. Our taking over these tasks will free up staff to work on more productive projects while also freeing up your time.
Current clients use our total Property Management service; however, we would be open to design a package of services appropriate to your railroad’s specific requirements.
1629 Race Track Road Suite 206 St. John's, FL 32259