Full Service Property Management Services
Our Routine Property Management Services & Basic Property Management Fees generally include:
- Personalized bank account. Collection of rents into a bank account specifically opened for you. All clients are signatory on their own checking and saving accounts. We do not use a trust account for regular property management clients: A clients money is always in their separate bank account.
- Timely payment of fees such as property taxes, insurance and debt service based upon cash flow.
- Timely payment of all vendor service invoices based upon your cash flow.
- Owner distributions monthly, quarterly, semiannually or on any schedule set by you.
- Complete double-entry accounting services (not merely bookkeeping), using GAAP (generally accepted accounting practices or principles).
- Preparation of GAAP financial statements: balance sheet, income and expense statement, aged payables and receivables, deposit reporting, and vendor payment list or check register, based upon cash or accrual accounting methods, whichever is appropriate for you.
- Monthly reconciliation of all owner bank accounts.
- Monthly property management reporting including a rent roll, security deposits, and vacant units.
- End of Year reports for your CPA.
- Vendor referrals.
- Coordination of routine building and unit maintenance and repair.
- Routine tenant relations and correspondence.
- Use of all LPG custom forms at no additional charge.
- Reasonable modifications of LPG forms at no additional charge.
- Lease preparation and move-in. (May be additional charge.)
- Monthly site visit or drive-by visit.
Additional Fee-for-Services Include
- Asset management functions (e.g. loan and insurance procurement).
- Complex resident problems.
- Coordination of legal case or matters.
- Insurance claim processing.
- Rent Board Petitions, preparation or representation.
- Rent Board Appeals.
- Complete payroll services and employee oversight, when required.
- Vendor 1099 reporting, when required.
- Residential Lease Renewals with Federally mandated annual lead notice & documentation of same.
- Annual Rental Increase Audits, Rental Charge Account Reconciliation, Security Deposit Interest Payment Audits.
- Sub tenancy documentation (to protect future rights to unlimited increases at turnover) and sub tenant application processing.
- Emergency site visits and repair work oversite and coordination.
- 3rd Party vendor work, Repairs and maintenance (such as locksmith, plumbing, painting, electrical, etc.).
- Janitorial services.
- Coordination of contractor improvements (contract RFP, bids, negotiation, documentation, review and standardized contract addendum for Owner’s protection are included).
- Building renovation contractor oversight and management.
- Insurance claim processing and coordination of insurance repair work.
- Quarterly and Annual property inspections with contractor.
- Annual unit inspection.
- Annual vender insurance confirmation and documentation.
- Leasing of rental unit when no resident manager in place.
- Pre-move-out inspection(s) when requested by resident.
- Marketing Support and Social Media promotion of vacant units.
- Vacation back-up of on site employees.
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Any items not included in Routine Property Management Services.
Lightner Property Group Fee Structure
Why Do you Need a Professional Property Manager
- By saving money in property management fees are you merely shifting the risk of your rental business and adding hidden costs and expenses?
- Don’t let your rental property dictate your life.
- We manage your property, we won’t just respond to your property.
- “Manage your property, don’t let your property manage you!”
Return to our Property Management Services 2.0
Not ready for a full time property management company, but still have questions or need help? Consider hiring Lightner Property Group as a part-time consultant; or if you prefer to do everything yourself, visitwww.MyRentalUnits.com and get the help you need for FREE!