Apartment Management
The basic types of services we would provide might vary, depending upon your needs and desires, but certainly would include the following:
Accounting and Financial Management
- Collect rents promptly
- Supervise and monitor receipts, journal entries, records of accounts, bank deposits, and collection of unpaid or slow-paying accounts
- Maintain a property trust account at a federally insured bank
- Make and record deposits upon receipt
- Substantiate all disbursements by invoice, paid only after authorized approval by the on-site staff and property manager
- Maintain cash balance in account daily
- Establish necessary bookkeeping accounts with our fully computerized system
- Provide monthly, easily understood financial statements to property owners
- Prepare and monitor the annual budget
- Maintain payroll and related records
Selection and Training of On-Site Staff
- Determine an adequate staff size to properly operate and maintain the apartment community
- Properly train staff to deal with administration, maintenance, and resident relations
- Hire and train an imaginative and creative leasing staff
- Encourage and provide on-going training and educational opportunities to keep current with industry trends and standards
- Supervise all on-site employees
Lease Administration
- Qualify and approve resident applications by checking references and reviewing background checks consisting of civil, credit and criminal history
- Maintain good resident relations, increasing the probability of renewal leases
- Conduct market surveys to insure competitive rental rates, increasing rents as the market allows
Maintenance
- Negotiate and review all maintenance agreements and service contracts
- Monitor maintenance response time (along with the on-site manager) to insure that maintenance requests are handled promptly (within 24 hours)
- Inspect the property periodically to insure that it is being well-maintained
- Create a preventative maintenance plan for equipment and systems
- Oversee landscape management and contract supervision including snow removal
Professional Expertise
- Knowledge of human resource procedures (hiring, training, supervision, benefits and dismissal of employees)
- Knowledge of codes, laws, and ordinances relevant to apartment management including worker’s compensation, tax, and local ordinances
- Knowledge of the insurance coverages available and appropriate for apartment communities
- Request and negotiate bids, and approve contracts for services
- Conduct weekly on-site inspections
- Deal with complaints objectively and consistently with due process