We take our job of ensuring the protection of your property very seriously. We rely heavily on our systems which requires meticulous record keeping of everything in, on, or related to the property.
When we first take over a property we conduct a 30-Point Property Analysis that requires extreme attention to detail. We record appliances brands and model numbers, filter sizes, light bulbs, locks, vendors, structural conditions, and much more. We do this so we can customize management services that add value to your property through good management practices.
In order to do this properly, it takes time and some upfront investment. That's why we collect a small fee, called a "Start-Up Fee".
A Start-Up fee, also known as an On-boarding fee, is a one-time amount per property to establish the relationship with our company in order to setup the Owner and Property accounts.
The Start-up fees goes towards the time and expense involved in formalizing the relationship and ensuring that we have gathered all the necessary information in order to best manage your property and maximize its value.
It goes to cover the following time and expenses:
- Inputting of all property and owner related information into our property management system
- Conducting our 30-Point Property Analysis in-take form
- Setting up and establishing vendor accounts
- Installation of a lockbox on the premises
- Installation of a management sign on the premises
- Coordinating work to make a unit rental ready
This amounts to several hours worth of work per unit that is simply not made up for in a monthly management fee.
Doing the initial upfront work is critical to efficient operations and keeping expenses for our Owners low. Many property management companies don't have any detailed in-take processes, which ultimately result in poor overall management.
Take for example a common maintenance repair for an oven element burning out. Most management companies will send their maintenance tech to the property and will charge for the time to go to the property, inspect the oven and get the Make and Model, drive to the hardware store, and then go back to the property to install the new element. A simple fix turns out to cost a considerable amount of money all because the property management company didn't take the time to do a thorough in-take of the property.