Precept Property Management

Untitled Document

PROPERTY MANAGEMENT SERVICES
Designed to run your property in an orderly and efficient manner.

MANAGEMENT OVERVIEW
  • The normal fee for Property Management is 10% of the gross income collected.
  • A one-time set up fee of $150.00. (This fee may vary, depending upon how many units you have)
  • A rental fee is NOT charged for each lease signed with a new tenant.
  • Advertising, labor and materials for work performed directly to the property and legal fees are billed to you.
  • Legal fees will be reimbursed by the tenant when collectable.
  • Tenants will pay for the first $50.00 of each repair, which is billed back to the tenant.

OUTLINE OF MANAGEMENT SERVICES

TAKING CONTROL OF THE PROPERTY:
A letter of introduction is delivered to each tenant describing my policies and procedures. My objective is to make the transfer of management as smooth as possible and establish a good relationship with your tenants.

RENTING:
All applicants are interviewed personally after completing a "Tenant Questionnaire" setting forth references, employment and credit information. I will verify references with TRW and call on the remaining ones. I will negotiate leases and handle all collections of rent and security deposits, etc.

COLLECTION OF RENTS:
All rents are due on the 1st of the month and late on the 3rd. Three day eviction notices are issued on the 10th to non payers; and carried out to a judgment if there is no response. This procedure generally takes from 2 to 3 weeks. Collection of judgment amounts will be pursued on collectable tenants.

PROPERTY MAINTENANCE:
To protect the property and insure good tenant relations, we have a series of regular contractors and handymen to handle repairs and maintenance. Their services are generally below market value. Between $20.00 -$65.00/hour. Major jobs are put up for bid. Regular inspections are made to determine that the property is being cared for properly by the tenants. In order to get the best rents as well as the best tenants, I recommend good building and maintenance standards.

RECORD KEEPING AND STATEMENTS:
Each month a statement is provided to investors; reporting the income collected and disbursements made, with a year to date summary. I include bills and back-up documents detailing the nature of the expenditure. Mortgages, utilities and other overhead payments can be made directly from my office.

MANAGEMENT FEES:
Management fees are based on a percentage of the gross rental income collected. Percentages vary according to the number of units to be managed. Our proposed percentage for your real estate is 10% with a set up fee of $150.00.

Please contact us for more information