Residential Premier Real Estate serves Ownership in the management and sale of all types of residential properties. Residential Premiere provides a unique value-added approach to such properties by stabilizing, improving, maintaining and selling the asset for its maximized value.
We manage with a hands-on approach that stabilizes the property, proactively improves the property, increases tenant occupancy, decreases expenses and maximizes cash flow. Residential Premier will provide superior maintenance services and, if necessary and desirable, capital improvements which drive the value of the property. We are confident that we can achieve these goals as we have managed multi-unit residential properties for decades. Many of these properties have been in transitional areas which require superior property management and tenant management skills.
We provide Our clients with specific recommendations for maintenance which must be accomplished and improvements which can be made. We help you simultaneously accomplish two goals—the effective and efficient stabilization and management of the asset coupled with the expertise and support to market and sell your property to qualified buyers. While we work to protect your asset, increase tenant occupancy, maximize cash flow and maintain your property, we will always be conscious of your end goals.
SCOPE OF SERVICES
Residential Premiere Real Estate will assist with expense projections and reserve allocations. We are able to provide recommendations based on our experience managing properties of your size and refer to our knowledge of what typical operating costs should be as well as projected costs of capital improvements.
Residential Premier Real Estate will manage all aspects of rent collection. This process involves sending out monthly invoices and processing the rent. Many management companies have rent payments sent to a bank lock box and pass the cost along to the owner in the form of a “bank charge”. At Residential Premier Real Estate, we receive rental income directly and bank deposits are made daily at no additional cost to the Owner.
In order to provide tenants with a convenient option for paying rent, we offer free electronic payment using ACT/Debit. This option offers the Owner more security with timely payments and a guarantee that all monies due are received.
Residential Premiere Real Estate will review and authorize monthly invoices and issue payment utilizes direction of property Owner.
Residential Premiere Real Estate monitors monthly delinquency and will provide receivable reports to the Owner. We facilitate the process for the collection of delinquent accounts in alignment with the approved policy.
For Multi-unit properties Residential Premiere Real Estate will prepare a complete set of monthly financial statements which will include:
Comparison of actual income and expenses to budget for the month and for the year to date
Income and expense
If there are other reports Residential Premiere Real Estate will maintain files and records of bills paid. We maintain complete vendor files for all our rental accounts.
Residential Premiere Real Estate will provide and maintain copies and/or reports detailing all checks written. The bank statement reconciliations provided in the monthly financial report will have a copy of all checks written.
Residential Premiere Real Estate will assist in delinquent account turnover to legal counsel of the Owner’s choice (including providing supporting documentation). We deliver five (5) day notices and follow up with tenants who are delinquent. If delinquent tenants in A/R section do not pay, we will work with the tenant in accordance with the Owner’s policy.
Residential Premiere Real Estate will monitor all rental activity, including maintaining copies of all leases on file.
Residential Premiere Real Estate will notify residents of any rule violations and manage all necessary enforcement measures (including troubleshooting tenant complaints, concerns, and issues).
Residential Premiere Real Estate will vet and ensure that any third-party contractors have appropriate skills and certificate of insurance coverage.
Maintenance and Repair
Residential Premiere Real Estate will manage the physical property building. We are more hands-on than most management companies and have an in-depth understanding of the mechanicals and infrastructure of a building. We have the ability to perform cleaning and handyman tasks and have an extensive relationship with all types of contractors.
Residential Premiere Real Estate will monitor property systems for problems including but not limited to drives and walks, lighting systems, signage, plumbing, and electrical systems.
Residential Premiere Real Estate will make available emergency numbers for use in the event of any after-hour, weekend and/or holiday emergency. We can be reached 24 hours per day; seven days per week.