Train and supervise leasing staff
- Train our staff in how to best sell your units
- Train our staff on how to comply with all of the laws from Fair Housing to building codes
- Show the property PROPERLY. Rental prospects are escorted by our staff when viewing apartments. This allows us to gather important feedback, answer questions, and protect your investment from damage or neglect. It also gives us a chance to practice the ABCs (which means always be closing the sale), spending time with prospects to sell your units, your property and the benefits of renting right now.
- Supervise the staff by monitoring input into our comprehensive software system, conducting site visits and inspections, meeting with staff to assure enforcement of policies and procedures
Screen and manage tenant lease compliance
• getting the right tenant is the key to stable communities and minimizes both outright damage to the property and excessive turnover of apartment units. We make every effort to find residents who will pay rent on time and take good care of your property. Tenant appreciate that their neighbors have been screened for criminal history and that their prior landlords have been contacted to determine if they can be suitable tenants.
Every adult prospect pays an application fee so that we can run a complete criminal background check, credit check, rental history and employment verification.
• Collect rents, fees and sufficient security deposits. We are zealous about timely collecting rent . We follow a strict set of guidelines applied in an even-handed way for each tenant to ensure they fulfill the lease terms. Our onsite staff prepares, posts and serves 3 day notices on the 6th of each month. Our collection processes are professional, but firm. Where necessary, when a file is sent to eviction, we have negotiated a set fee schedule to minimize the cost to the property and to collect as much of that cost from the tenant as possible.
• We use our lease agreement which gives you, the landlord, as much protection as possible. The owners have been real estate lawyers since approximately 1980 and have dealt with thousands of leases
Financial Reporting and accounting practices
Every month, by the 20th day of the month we will publish a full set of financial reports; typically, a profit and loss statement, a budget comparison report, a balance sheet, a rent roll, and a delinquency report.
ADDITIONALLY, we provide you with a copy of each paid invoice along with a check register so you can verify that the money was paid to the vendor and so that you will know why the expense was incurred.
We prepare budgets for our properties which forecast everything from rental renewals and anticipated market conditions to capital expenditure projects need to maintain the asset. Our senior staff works with our owners to establish goals for the following year; to identify needed repairs; to plan for refinancing properties; refurbishing properties or selling properties.
We transfer Owners their funds by ACH each month
Some property management companies hold security deposits in an account they control and an account upon which they collect the interest. We don’t. The Owner and responsible senior manager establish how much should be held in an operating account and all other funds are disbursed to the owners, including the security deposits. Owners should earn the interest, not the management company.
We don’t accept “kickbacks” from the vendors we use. We recognize our first and most important duty is to the Owners we represent. To maintain their properties in the best condition possible at the lowest cost possible. To drive income and control expenses. To give advice designed to allow our Owners to make informed, financially sound decisions.
We employ stringent audit controls; every expenditure is supported by an invoice. Checks are only issued by the accounting department. Onsite personnel do not have access to any “petty cash” fund. All expenditures are documented and supported by invoices. All funds are held in separate trust accounts for each individual owner. There is no commingling of funds.