PROPERTY MANAGEMENT  
   
     
  Rent Collection  
     
     
  Mortgage Payments, Strata and Utilities  
   
     
  Accounting Services  
     
     
  Management Fees  
     
     
  Leasing  
     
     
  Security Deposits  
     
     
  Property Inspections  
     
     
  Repairs and Maintenance Services  
     
     
  Strata Management (Commercial or Residential)  
     
     
     
  Rent Collection                   Top
 
All rent is due on the 1st of each month and is considered late if received after the 3rd of the month. Late notices are sent on the 4th and removal proceedings are initiated if the tenant does not make immediate arrangements for rent payment. We feel that the collection of rent is one of our most important functions of managing your property.
Mortgage Payments, Strata and Utilities   
We will make the mortgage payments, Strata, Utilities (as well as other relevant property service payments) for you. Simply supply us with the necessary mortgage payment cards or coupons provided by your mortgage company. Payments can be deducted from your account balance automatically on a monthly basis. If your property has a large, consistently negative cash-flow each month, arrangements are needed to increase the minimum balance amount in the account.
 
  Accounting Services                   Top
 

Every transaction affecting your account balance is recorded and explained in detail. Our computerized accounting system enables you to see online exactly what has transpired with your property on a monthly basis.

Copies of all work orders and receipts are kept on file throughout the year. We will be happy to provide duplicate copies of this information if requested.

In addition to the monthly statements we also provide a complete account summary at the end of the year. This shows you each accounting transaction posted on your property during the year: i.e. total rent received, total mortgage payments made, total maintenance expenses, etc.

 
  Management Fees                                                               Top
  Our monthly management fee of 7% is payable when the rent payment is received. It is automatically deducted from your account at the time the rent payment is posted. However, since one of our jobs is to keep your property occupied we will not deduct the monthly management fee if your property is vacant. We do not charge a monthly minimum.  
  Leasing                                                      Top
 

We will receive forty percent (40%) commission of the first month rent or additional compensation for renting property on a year-to-year rental agreements with tenants.

We want good tenants just as much as you do! We pride ourselves in the quality of tenants we are able to attract. Our extensive tenant screening and credit investigations help ensure this.

Vacancies are expensive for both of us. We make every effort to keep our vacancies to a minimum. Our aggressive marketing techniques allows your property to be presented to the largest possible market in the shortest possible time.

Appointments are made to approve the actual lease agreement. We review the lease thoroughly with the tenant. This gives us a chance to answer any questions and to carefully explain the tenants responsibilities as well as our company's policies and procedures. This attention to the tenants needs greatly reduces misunderstandings and eliminates many potential problems before they are problems. A copy of the lease agreement will always be sent to you upon execution.

We undertake a move-in inspection with the new tenant using the property condition report. We find this helps develop a good working relationship with the new tenant and gives us one more opportunity to encourage our tenants to take pride in their home. 

Once again, we want good tenants just as much as you do! We pride ourselves in the quality of tenants we are able to attract.

 
  Security Deposits                                Top
 

For additional protection, appropriate security deposits are always collected upon completion of a rental application by a prospective tenant. Amount of deposits are based on the monthly rental rate and the credit worthiness of the tenant. Applicants with pets are subject to  approval by the owner.

All deposits are maintained in a checking account as required by law and  regulations until they are either refunded to the tenant upon the successful check-out inspection or are forfeited to cover damages caused by lease violations.

 
  Property Inspections                                                            Top
 

Our main job is to protect your investment property. We do this in two different ways. First we make frequent drive-by inspection tours of your property. In addition, we make regular preventive maintenance inspections of the interior of the property. It is stated in the tenants lease agreement that we have the right to make routine announced inspections. Tenants are always notified in writing of pending property inspections. Inspections are conducted with the tenant present, using the property condition report that was executed by the tenant upon move-in. We compare for discrepancies, missing items, and any damage. At the same time we also check for preventive maintenance items.

FM Management Services Ltd. conducts routine inspections, and tenants who are doing a good job receive a letter thanking them for their time and the care taken in maintaining their home. Tenants who are doing a poor job are also notified, and then we follow up with a second inspection ten (10) days after the tenant has received the failure report. If the tenant has not shown good faith by providing proper maintenance or making requested repairs we will begin proceedings to correct the problem at the tenants expense.

 
  Repairs and Maintenance Services                                                            Top
 

Timely and competent maintenance is the key to protecting your investment. Our goal is to provide you with this important service at a reasonable price using only qualified personal.

All repair and maintenance services are performed by independent, outside vendors and contractors, not by company employees. Each has been selected because of their ability to provide the best possible service at the best price.

You reserve the right to schedule and control any or all repair and maintenance responsibilities if you desire.

Routine repair and maintenance will be performed as needed and will be based on urgency and importance. For any major job, we usually obtain written estimates from three different companies, notify you, and obtain your approval before we proceed.

We ensure the quality of the work performed by making spot checks and follow up inspections. You are further protected because each job is fully documented in writing and supported with receipts.

 
  Strata Management                                                            Top
 

We act on behalf of Strata Executive Committee's in administering Strata Plans, whether in respect of commercial or residential properties;

  • Employment of on-site staff (If required)
     
  • Appointment of suppliers and contractors
     
  • Planned maintenance services
     
  • Collection of Strata Fees
     
  • Enforcement of Strata By-Laws.
     
  • Accounts administration, reporting, Budget preparation and  analysis.
 
     

 

FM Management Services Ltd © 2007-2009