Property Management Proposal
CityLife Property Development & Management has been managing properties for over 10 years and prides itself on managing properties under our stewardship so efficiently that our clients often experience an increase in property portfolio profitability that subsidizes the cost of our services.
Our goal as property managers is to manage our client’s properties to the extent that their only involvement with their property is to receive a rental revenue check and a monthly income statement each month. Unlike most property management firms, we charge no mark up on services charged by vendors that service properties under our management. Our customers are also able to take advantage of discounted pricing afforded to us as a volume buyer of property related services. Our premium property management services include:
- Tenant Customer Service and Issue Resolution
- Leasing Units and Processing Evictions
- Property Maintenance and Improvements
- Bill Payment, Bookkeeping and Financial Reporting
Tenant Customer Service and Issue Resolution
There is a strong relationship between rental property profitability and the retention of responsible tenants. We minimize tenant turnover and its resulting leasing and vacancy expense by developing strong landlord tenant relationships based on expeditious response to tenant concerns and cheerful customer service.
Leasing Units and Processing Evictions
Our management fee is based on rental revenue actually received (not gross rent roll) so, we have a personal incentive to make sure your units are always rented at the highest rent the market will bear and that rent collection is aggressively pursued. We periodically conduct rental market analysis to ensure your units are always rented at or above market. We operate on a strict policy that rent is due on the 1st and eviction notices go out on the 15th of the month. This policy actually minimizes the necessity to carry the eviction process to its conclusion as tenants tend to prioritize the payment of their rent over other financial obligations once they understand how strictly we enforce our delinquent rent policies.
When it is necessary to completely follow through on an eviction action, we manage every step of the process, including hiring a lawyer to represent our clients in court. We take all necessary steps to ensure whenever a tenant is leaving due to either lease expiration or eviction that the unit is aggressively advertised to minimize lost revenue due to vacancy.
Bill Payment, Bookkeeping and Financial Reporting
At no extra cost, we will manage the paying of bills related to clients’ properties out of their rental revenue and provide our clients a monthly income statement detailing their properties’ performance for the month. These reports, along with profit checks, are sent out by the 5th day of each month, reflecting all previous month’s activities regarding the property on a cash basis.
We scrutinize bills for accuracy and handle the resolution of billing discrepancies. We also do an annual expense audit for our clients and look for ways to minimize expenses and where appropriate put services out for competitive bid. Our books are professionally kept and at year’s end we deliver a financial statement for the year to our clients’ tax filing needs.
Property Maintenance and Improvements
We hire contractors to perform all necessary property maintenance and make recommendations to clients on making improvements to the properties when we feel doing so will enable them to raise their rents and increase the return on their investment.
Property Management Fees
Our fees are based on a percentage a client’s gross rent roll and ranges from 8% to 15% of gross rent collected each month, depending on how large that rent roll is. Basing our fees on rent collected ensures you do not have to pay a fee based on rent that is not even received as you might with other property managers that charge based on gross rent roll that may or may not be collected each month.
If interested in learning more about how CityLife can meet your property management needs, please contact Joe Quinones at (215) 222 5625