Property Management Expertise

Awards

• Premier-managed properties have twice been selected as regional winners of the National Affordable Housing Management Association Community of Quality Award for Outstanding Turnaround of a Troubled Property.
• The Central Park Towers and Silver City Apartments received commendations for their training centers by Mr. Cumo - Director of HUD.

Property Management Organizational Responsibilities
I. ADMINISTRATION
Maintain and manage records and issues regarding:

• Corporate Operations
• Service and Construction Contracts
• Vendor Information
• Property Insurance
• Tax Appeals
• Regulatory requirements
• Personnel Files (property and corporate)
• Mortgage Information
• Correspondence (property and corporate)
• Fair Housing and EEOC complaints
• Corporate General Liability Insurance

II. HUMAN RESOURCES
Maintain and manage issues and records regarding:

• Interviewing, screening, hiring, payroll, vacation, sick leave and termination of employees 
• All site specific personnel are hired and costs are reimbursable from the property
• All supervisor and other corporate personnel are hired at the Management Agent's expense
• Employee Benefits HR Policy Manual
• Work Safety
• Job Description and Delegation of Responsibilities
• Performance evaluations
• Performance incentives
• Training and certifications
• Worker Compensation Injuries
• Drug Free Employee Policy

III. PAYROLL

• Calculation and Payment of Wages
• Federal & State Withholding Tax
• FICA
• State & Federal Unemployment Taxes
• Workers Compensation Insurance
• Employee health insurance
• Issue 1099 forms, 941 forms, W-2 forms
• Monitor and Maintain Payroll Time Sheets and Time Cards
• Monitor and Maintain Employee Compensatory Time
• Monitor and Maintain Employee Vacation information
• Monitor and Maintain Employee Sick Leave Information

IV. ACCOUNTING
A. Financial

• Verification, coding, recording and payment of Payables
• Verification of Property Receivables
• Reconciliation of bank statements (both operational and security deposit)
• Monitor of delinquent or late rents and bad debt
• Monitor of monthly rent roll
• Preparation of monthly financial statements that show detailed breakdown of revenues, expenses, escrow accounts and current position on either a cash and accrual basis
• Balance Sheet (showing Assets and Liabilities)
• Income Statement (Actual to Budget and Year to Date information) 
• General Ledger
• Delinquency Report
• Rent Roll
• Bank Reconciliation's (operational and security deposit)
• Narrative discussing budget variances, leasing, occupancy, repairs, etc.
• Analysis of financials including actual vs budget and capital expenditures/improvements.

B. Budgeting - realistic & detailed, spending controls

• Revenue (gross rent potential, vacancy loss, and other income)
• Operating expenses grouped by accepted industry types (personnel, administrative, marketing, repairs & maintenance, make ready, cleaning & decorating, contract services. professional fees, utilities, taxes & insurance, debt service and other i.e. WCLC expenses) 
• Budget Control
• Purchase Orders
• Budget control ledgers (track monthly budget amount for each account code) 
•  Corporate approval for manager to exceed monthly line item budget
• Financial Audits
• Monitor Reserve for Replacement accounts
• Monitor Residual Receipts accounts
• Capital expenditures
• Extraordinary expenses
• Depreciation expense
• Net Operating Income (NOI)
• Net cash flow

SUPERVISION

• Physical inspections of Property
• Routine review of operational reports
• Monitor Budget Controls Ledger
• Weekly Property Status Report
• Occupancy
• Vacancies 
• Leasing
• Traffic Report (profile of people interested in renting for that week)
• Drive by
• Referral
• Advertising
• Monitor Delinquency Report and eviction process
• Make Ready Status Report
• Monitor Unit Inspection Reports (smoke alarm inspections and housekeeping inspections)
• Preventive Maintenance Report
• Capital Expenditures (perform repairs as out lined in approved budget)
• Produce Annual Budget
• Work Order System (review work orders and random review of work)
• Inventory of Property Equipment
• Market Analysis and Rental Increase
• Marketing Strategies and Plans

VI. DIRECT COST SAVINGS

• Real estate tax review
• Sales Tax
• Unemployment compensation
• Employees health Insurance
• Leverage with local dealers
• Knowledge of economical products, materials, supplies and sources