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Management Plan
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You can view our management plan in full detail. There are five sections to the plan:
- Owner-Management Relationship
- Affirmative Marketing
- Tenant Eligibility
- Maintenance & Repair Program
- Rent Collection Policy & Procedures
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Rentals
- Sections 1-2
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1. Owner-Management Relationship
a. The Owner and the Managing Company have outlined policies and directions for the Managing Agent in the Management Agreement. The owner has placed the complete operation of the units with the Managing Company, who in turn has assigned the responsibility to the Managing Agent. All operating decisions will be made by him except those specified in the Management Agreement. The Owners may revise or add policies from time to time as deemed appropriate. The Managing Agent will keep the Owners advised about the operation through monthly financial and progress reports. The Managing Agent may consult with the Owners at any time. Specifically, the Owner is to be consulted if the viability of the units is threatened. The Management Agreement specifies in detail those expenses to be paid from the rental account.
b. The Managing Agent is responsible for obtaining in the name of the Owner the following services:
- Electricity (as appropriate)
- Gas (as appropriate)
- Water (as appropriate)
- Sewage Disposal (as appropriate)
- Scavenger Services (as appropriate)
- Pest Control
- Other Services as Necessary
c. The Managing Agent is solely responsible for proper management operation and maintenance of the Owner's property. He will perform the following duties:
- Showing and leasing vacancies to prospective tenants as they become available.
- Executing tenant application forms. Completing credit checks and any additional follow-up checks as may be necessary will also be accomplished by the Managing Agent.
- Each tenant will be thoroughly briefed on the contents of the lease and any special instructions pertaining to the unit. A full discussion will be given covering the rent payment policy and procedures. They will be given an orientation in their unit covering all operation of appliances, heater, and air-conditioner. Further, a detailed briefing will be given covering management policies, services, maintenance request procedures, tenant responsibilities, and local area information, i.e., schools, transportation, churches, etc. Detailed instructions will be given covering proper care of the appliances and unit housekeeping in general.
- Security deposits will not exceed two months' basic rent. In all cases it will be the amount established in the lease. Market conditions may alter the amount of the initial security deposit collectible.
- Collection of prorata rents and Security Deposits. Tenants will be thoroughly briefed on the rent payment procedure and policies, including office hours, mailing address, and late rent procedures.
- Implementing rent changes when approved to offset increased expenses and to reflect changes in the marketplace.
- Follow-up calls on delinquent rental payments. Contact all delinquents regarding late payments and take whatever action is required to collect monies due.
- Insure immediate follow-up on all requests for maintenance and repair with prompt action by assignment of the work orders to the proper maintenance personnel consistent with the policies of the owner.
- Establish and maintain a file of maintenance and repair requests completed.
- Keep an inventory list of personal property and their value and condition, including refrigerators, stoves, etc.
- Coordinate the services of approved contractors, i.e., exterminators, scavenger services.
d. Excess owner's funds will be distributed on the fifteenth and twenty-eighth of each month. All monies received and cleared by that date less expenses to be charged to owner, will be disbursed at that time. Checks that have not had sufficient time to clear will be disbursed at the next date. Expenses, which are to be charged to a tenant and not yet received, will be paid from the owner's funds.
e. In the event that the owner's funds are insufficient to cover expenses or projected expenses, the owner will be advised by the Managing Agent to remit funds to the Agency. At no time will the Managing Agent commit the Agency funds without the approval of an Agency Officer.
2. Affirmative Marketing
a. Our advertising program clearly indicates our policy on non-discrimination because of race, color, creed, national origin, or sex and our strict compliance with the Equal Housing Opportunity Program. Adherence to both the letter and the spirit of those laws applicable to equal opportunity is mandatory, and any violations will subject the employee to immediate dismissal.
b. The advertising program will be geared to be responsible for the rate of applications required to maintain a low level of vacancies.
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