Management Services

Our Responsibilities as Property Managers

• To preserver the owner’s investment through the planning of long term improvements for common areas and units. If the owner and manager agree that the property should be improved in the future, the manager should budget accordingly to cover the cost of future improvements. *To maximize income by:
  • Marketing space and setting market rents by comparing rents of similar properties and ensuring rents cover operating expenses, fixed costs, and profit on the owner’s investment.
  • Planning miscellaneous expenses so they contribute to the rental attractiveness of the building and its value.
  • Screening tenants as to their ability to pay rent and their history of taking care of their leased property. Credit and employment checks are usually ordered and evaluated. Business tenants should be compatible with building and other tenants.
  • Collecting rents on a timely basis and enforcing eviction policies in the case of non-payment of rent.
  • Preparing budgets for the future and communicating with the owner.
  • Enforcing lease requirements.

Fiduciary Responsibilities

Non-client funds from property management and rental accounts includes rental application deposits, security deposits, and rent. They may usually be deposited in one of three accounts and it makes no difference if the owner is a licensee. They may be deposited in a regular trust account (non-interest bearing;) an interest bearing account if the broker gets the written consent from the parties and specifies to whom the interest will be paid (no interest may be paid to the broker;) and the rental owner’s account. This is an account maintained by the rental property owner for the deposit and disbursement of the owner’s funds. The broker may be designated as signatory on the owner’s account and authorized by the owner in writing to make disbursements from the account.