Property Management
Full Management Services
The following services are performed under a full service management agreement:
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Perform the operation of the accounting and bookkeeping functions along with producing monthly financial reports on a cash or accrual basis. This includes monitoring and reconciling all bank/investment accounts monthly. Bank accounts are never co-mingled with any other company or client accounts.
Supply the monthly financial statements normally no later than the 20th day of the following month and we accompany them with a complete accounts payable listing, owner/tenant's ledger, disbursement journal and general ledger.
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Prepare budget comparisons and projections annually or as requested.
If desired, and with direction, invest excess cash for maximum return from excess operating funds.
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Maintain a defined purchase order system along with an approved system of comparing and approving payables.
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Bulk purchasing is done centrally allowing purchasing at lower costs. Negotiate utility contracts and other services to obtain preferred pricing.
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Review and update insurance coverage, put out to bid as needed and make recommendations on beneficial changes.
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Prepare all forms and returns required by law pertaining to payroll taxes, workers' compensation, etc. (excluding corporation returns).
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Supply $1,000,000.00 fidelity insurance for our management and office staff.
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Maintain an approved procedure for the collection of past due receivables and supervise any litigation as directed.
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Appear on behalf of the property in court or any other situation requiring an appearance of a responsible party.
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Advise the client as needed on industry-related changes in law or on topics of concern.
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Assume the responsibility to supervise, hire, train, discipline and/or discharge all employees performing services at the property. Site employees normally remain employees of the property.
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Make industry-related seminars and classes available to staff when topics pertain to their positions.
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Prepare specifications and detail for bidding of both minor major maintenance and repair work unless the scope of work requires additional expertise. Monitor and supervise all work performed by outside contractors.
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Maintain a work request system for both resident and common area repairs. Establish and utilize a billing system if the resident is responsible for payment.
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Perform frequent inspections of the property and meet with the Client or their designated representatives as needed.
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Respond to emergency calls and have someone available 24 hours a day, seven days a week including any and all holidays.
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Formulate policies to facilitate proper owner/resident relations and be readily accessible to all.
