SCOPE OF SERVICES
Management Portfolio & Unit Mix
Maintenance & Operational Efficiency
- Tenant Relations
- 24 hour customer care
- Rent/Maintenance Collection
- Coordinate maintenance requests from tenants
- Organize general maintenance and labor
- Maintenance Contracts
- Maintenance staff performance reviews and education
- Volume discounts on general supplies and hardware
- Elevator and boiler efficiency testing and inspection
- Expedite job completion times
- Lower Utility Rates
- Save up to 13% on electricity and gas – Energy aggregation purchase program.
- Contract Optimization
- Competitive Insurance Pricing/Terms
- Superior Rates on Banking Service
- Discount Tax Certiorari Services
Seamless Online Maintenance Tracking
- Tenants submit support requests from any device to easily include images.
- Payment and bill automatically posted to ledger
- Manage inventory and post inspections
Management Software
- Tenant Portal
- Secure – Online payments are more secure than mailing a check.
- Convenient – Easily view your balance, and make payments online using your preferred method.
- Effortless – Set up automatic payments and never worry about paying late fees.
- Fast – Quickly file and track maintenance requests directly through the Online Portal.
- Up to date – Keep your contact information and insurance details current with your property manager.
- Owner Portal
- Easily access financial information/collections in real time from any device
- Save all records online in the cloud
- Submit / Check On a Maintenance Request
- Association Board Approvals
Project Management
- Purchasing Oversight
- Cost-Savings Analysis
- Frequent Check-Ins
Compliance and Filings
- Violation resolution and certification
- Reduced fees on dues and Local Law commissioning services
- Property registration, permit renewals
Legal Action
- Engage tenants while maintaining all compliance standards to manage eviction cases.
- Favorable terms from Attorney services
Leasing & Marketing
- Superior rates with brokerage to procure tenants for rentals.
- Online lease and renewal process
- Minimize time between move in/outs
- Marketing signage, newspapers posts
- Online features – Search engine optimization
Cost Savings on Contracts
- Competitive Insurance Pricing/Terms
- Superior Rates on Banking Service
- Discount Tax Certiorari Services
- Workers Comp discounts and Dividends
FINANCIAL SERVICES
Operating Budget
- Operating Budget Model forecasts income/costs with a 30+ year outlook. Automatically factor in rate increases/reductions and amortize debt over time. Create various capital structures to insightfully forecast performance.
- Yearly comparisons and data analysis
- Track an asset’s success and viability.
- Prepare and present the annual operating budget to landlords before the year starts.
Monthly Financial Report
- Owner’s Portal – Customize Reporting Parameters:
- Balance Sheet
- Monthly income and expense statement
- Cash Flow
- Accounts Payable report
- Charge detail
- Expense Distribution
- Tenant receivables and prepaid report
- Copy of monthly bank statements with bank reconciliations
Insure and Allocate Reserves
- Distinguish and account for capital reserves, revenue reserves, and replacement reserves.
- Reserves 70 percent funded or more.
- Reserve rate calculations based on historical data analytics and all projected expenses related to major repairs and replacements expected in the future.
- Banking and Insurance Partners leverage financial products to help build capital.
Accounts Payable & Accounts Receivable
- Receivables are direct to bank, or via remote systems
- Automatically send past due invoices for missed rent to tenants
- Manage timing differences between collections and accruals
- Inform vendors of any changes required in their invoice submission
- Month-end close for accounts payable. Checks trials and runs finals of the outstanding checks.
- Upload appropriate documents into AppFolio (service tickets/contracts/other)
Assumed Increases for Costs, Payroll, etc
- Changes in Operating Expense Growth Rate Calculated by Weighing:
- Historical property data and trends
- Inflation & price indexes tracking overall real estate operating costs
- Expected gradual increases to dues, subscriptions and taxes
- Forecast tax and insurance premiums
- Annual Increases Associated with Payroll:
- Employer portion of Social Security tax
- Employer portion of Medicare tax
- State unemployment tax
- Federal unemployment tax
- Worker compensation insurance
- Employer portion of insurance (health, dental, vision, life, disability)