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Residential/Multi-dwellings

Management of ongoing operations : (top)

Tenants :
  • Screening of tenants.
     
  • Credit checks.
     
  • Negotiation of leases and renewals.
     
  • Collection of rents.
     
  • Rental follow-up.
     
  • Advertising : preparation, booking, follow-up.
Maintenance :
  • Development of preventive maintenance programs.
     
  • Planning for building appreciation and increase in profitability.
     
  • Planning and monitoring of maintenance and renovation projects.
     
  • Supervision of daily maintenance.
     
  • Weekly physical inspection.
     
  • Inspection of each apartment before rental.
     
  • Solicitation of bids and negotiation of contracts for minor projects.
     
  • Analysis of bids for major projects with outside consultants if necessary.
     
  • 24-hour availability for emergencies.
Personnel :
  • Hiring.
     
  • Training (rental-maintenance-administration)
     
  • Daily follow-up.
     
  • Salary negotiation.
     
  • Weekly evaluation.
     
  • Dismissal and replacement of personnel.
Insurances :
  • Negotiation of terms and conditions of premium at maturity.
     
  • Payment of premiums.
Miscellaneous :
  • Security and maintenance of common areas : elevators, garages and parking.
     
  • Assessment and monitoring of snow removal and landscaping contracts.

Profitability : (top)

Project revenues :
  • Establishment of revenue objectives.
     
  • Preparation of strategy to attain objectives.
     
  • Analysis of surrounding area rental market.
     
  • Development of rental strategy.
     
  • Reduction of annual turnover of tenants.
     
  • Daily follow-up on lease renewals.
     
  • Evaluation of services offered vs apartment pricing.
     
  • Control and assessment of each expense item.
General administration :
  • Relationship with owner.
     
  • Preparation of material and documentation for joint meetings.
     
  • Follow-up on the execution of the owner's instructions and/or policies.
Computerized services :
  • Lease management.
     
  • Bookkeeping.
     
  • Accounts receivable and payroll.
     
  • Budget preparation.
     
  • Interim financial statements.
Legal :
  • Representation and attendance at the Rental Board.
     
  • Preparation of cases for the Rental Board.
     
  • Follow-up on Rental Board decisions.
     
  • Drafting of special rules and regulations for tenants.
     
  • Review of municipal tax assessments and filing of opposition to these of necessary.
Turnaround of buildings difficult financial situations.

Others services : .
  • Consultation on the acquisition and sale of income-producing properties.
     
  • Mortgage negotiations for renewals.
     
  • Search for new mortgage financing.
     

Bookkeeping : (top)

Operating Budget :
  • Estimate of revenues and expenses.
     
  • Discussions with owner.
     
  • Monthly follow-up and joint meetings.
     
Budget for major projects :
 
  • Discussion with and approval by the owner.
     
Capital budget :
 
  • Analysis of major expenses for the upgrading of the property.
     
  • Negotiations with creditors if additional financing is required.
     
Monthly Stewardship Report :
 
  • Balance sheet.
     
  • Operating statement.
     
  • List of accounts payable.
     
  • List of rents receivable.
     
  • Progress report on major projects.
     
Cash Management :
 
  • Bank reconciliation.
     
  • Authorization and signature of cheques.
     
  • Payment of invoices.
     
  • Payroll.
     
  • Collection of rents.
     
  • Dealing with creditors.
     
  • Monitoring of expenses.
     
Income Taxes :
 
  • Preparation of annual tax receipts for tenants.
     
Annual Audit :
 
  • Upon request, assist the external auditors in preparing the annual financial statement.