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Property Management

 

Property management is the operation, control, and oversight of real estate as used in its most broad terms. Management indicates a need to be cared for, monitored and accountability given for its useful life and condition. This is much akin to the role of management in any business.Property management is also the management of personal property, equipment, tooling and physical capital assets that are acquired and used to build, repair and maintain end item deliverables. Property management involves the processes, systems and manpower required to manage the life cycle of all acquired property as defined above including acquisition, control, accountability, responsibility, maintenance, utilization and disposition.

 

Roles

One important role of a "property manager" is that of liaison between the ownership or asset manager and the actual tenant/leasee tenant, providing a buffer for those owners who are desiring to distance themselves from their tenant constituency.

Duties of property management generally will include a minimum of these basic primary tasks;

-The full and proper screening or testing of an applicant's credit, criminal history, rental history and ability to pay.

-Lease contracting or accepting rent using legal documents approved for the area in which the property is located.

-Mitigation and remediation regarding any maintenance issues, generally within a budget, with prior or conveyed consent via a Limited Power of Attorney legally agreed to by the property owner.

-Lease Preparation: Creating standard leases as legally binding documents to secure and bind tenants to paying rent.

-Prescreening Services: Background and credit checks preformed to gain judgment of potential tenants character. Past landlords and employment information will be verified to confirm tenant’s strength.

-Tenant Orientation: Greeting, familiarizing, and helping tenants adjust to the facilities and services of the complex.

-Maintenance Service Coordination: Addressing and diagnosing interior problems in which the tenants may have, and then dispatching the proper contractor/service provider to the unit. Given the contacts that I have I will provide the most competent and competitively priced licensed contractor for the job. Contractors will be dispatched at Landlord/Owners expense and will be roughly pre-priced before hand.

-Brokering Phone Calls: I will be the acting answering service between tenant and landlord. This will be done in order to discriminate call importance and address the concerns faster. Also will give landlord more peace in their life.

-More: In the event of tenants defaulting in rental payments and collection has gone as a failure. The property management services include the legwork to the eviction process. The proper paperwork will be obtained at city hall and will be filled at only the cost of the eviction.

 

Rates

Award Properties typical charge for this service is 5% of the monthly gross rent. Rate may very depending on any additional duties or size of the project. Please contact me via email at alex@awardproperties.com or via phone at 203-470-6275.