Property Management Policies
The following policies are in effect to ensure the smooth running and most efficient handling of your property.
- A one-time administrative set-up fee is charged at the beginning of your contract. This fee will depend on the number of properties & units in your portfolio.
- The monthly management fee depends on the location and type of property in your portfolio. Multiple property discounts are offered.
- Repairs are charged back as billed by the contractor, without additional mark-up.
- We can pay your mortgage, taxes, insurance, utilities, etc. There must be sufficient cash flow from the property to cover such expenses, plus routine maintenance and emergencies. It may be necessary to ask you to set up a reserve fund allowing us to make prompt payments for you without waiting for the rent to arrive.
- At all times there must be a minimum amount in the reserve fund of $650.00 per property. Plumbing & heating problems require immediate response. We must have sufficient funds on hand to purchase a hot water tank or hire a plumbing or heating contractor if necessary to respond to an emergency situation.
- Excess funds are disbursed to the Owner at the end of the month, along with your month-end statement. We can send you a check or the funds can be wired directly to your bank account if you prefer.
- Your monthly itemized statement is issued to you at the end of each month, by email or regular mail (your preference).
- All paid invoices, receipts, etc. will be sent to you each January along with your year-end statement, to simplify your tax preparation.
