How do you handle Maintenance and Repairs?
Before managing a portfolio, we take the time to understand the long term goals of the investor. This understanding helps to define the kind of actions taken with each property at any given point. We treat each situation individually, and determine the most cost effective solution for both the problem at hand, and the kind of investment that it is.
What vendors do you use, and what do they cost?
We have a list of approved maintenance and repair vendors that are hand-picked for the related job. There is no mark up on our part for any vendor work done, so our price is your price. General maintenance starts at $15.00 per hour. Specialty work (plumbing, A/C, windows/doors, etc.) starts at $25.00. Any significant job is bid out, and the investor is looped in to all decisions and details as he or she prefers. All communications, work orders, invoices and payments are accessible to each owner through our software portal.
How do you determine your Monthly Fees?
No matter what, your management fees are a fixed cost every month. This cost is based on a number of factors including portfolio size, kind of properties, and location of each unit. Industry standard is 10% of monthly rental, but again the particulars of your situation can shrink that number and still keep the highest level of service.
What about Accounting and Owner Draws?
This is the other half of what we do. As mentioned above, all actions have a related paper trail. This includes accounting of tenant payments, vendor payments, and owner draws. Owner draws are calculated and dispersed on the 15th of each month. Statements reflecting this and related transactions are sent via email and/or accessible through your secured portal.
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