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Property Management Services

As part of its property management duties, Nationwide Housing Corporation will provide the following services:

 

 

 

 

 

 

 

 

 

 

Annual Property Budget

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  • Ninety days prior to the fiscal year end for the Property, the property manager will prepare a budget draft with line item documentation.
  • Capital expenditure bids would be gathered prior to this time for incorporation into the budget.

Audit and Tax Preparation

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We will cooperate with your accountant in any audit, review, or compilation, by making all the records, books, and files available for inspection and review at our offices. Tax returns are the responsibility of the property owner.

We will provide you with year-end statements and required tax documents including a 1099 form.

Banking

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Nationwide shall deposit Owner’s funds in a bank account maintained by the Management Company, in the name of the Owner and/or Premises. Funds shall not be commingled with other funds.

Collection of Rents & Fees

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We will develop rent collection procedures for collecting charges due from the tenants. In order to effectively manage the property, we observe the status of non payment on a day to day basis.

Competitive Bids

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In order to ensure that you are getting the best possible price for maintenance and repairs we will seek competitive bids on all contracts and bills in excess of $2,500 except in the case of emergency repairs.

Delinquent Account Action

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Nationwide shall be responsible for the timely collection of delinquent accounts in accordance with the Owner’s adopted policy including; (i) terminating tenancies, (ii) signing and serving notices, (iii) instituting and prosecuting actions and evicting tenants (iv) recovering rents and other sums due by legal proceedings and (v) settling, compromising and releasing such actions or suits or releasing such tenancies on behalf of Owner.

Documentation

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We will supply all necessary lease agreements, lease applications and any other documents required to meet local, state and federal laws or other applicable statutes.

Employee Training

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From day one, each employee receives foundational training in fair housing, leasing, inspections, resident retention, property maintenance, and in our state-of-the-art property management system Yardi.

Expense Verification

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We check and verify for accuracy bills, charges, fees and statements received for goods, services, fees, charges, work and supplies in connection with maintaining and operating the Property and to pay or cause to be paid all bills from funds furnished by the Owner.

Government Orders

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We will recommend, and with the approval of the Owner, cause all such acts to be done in or about the Property as shall be necessary to comply with all orders, notices, or violations affecting the Property or its operation placed thereon by any federal, state, county or municipal authority having jurisdiction.

Insurance Program

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As property manager we will determine and recommend the proper insurance products and coverage for the Owner, the Premises and the operation thereof.

The Insurance Program will be administered by Nationwide and will include the following activities;

  • Prepare and update specifications and solicit bids with companies recommended by us and approved by you;
  • Solicit annual insurance bids;
  • Handle claims filed against the Property and follow-up on outstanding settlements;
  • Handle all Insurance correspondence and inquiries;
  • Investigate and make a written report on any property damage/liability incident that occurs at the property and forward it to the insurance agent;
  • Work with the insurance agent in filing claims on the property; and,
  • Assist tenants and the insurance agent on any individual loss claims.

Leasing

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  • Rent surveys are done to ascertain competitive market rents. Setting the right rent will attract the best, most qualified number of prospective tenants so that the property can enjoy stable income and low turn-over.
  • Develop a recommended residential lease form
  • Screen and select tenants. Our thorough screening process is used to identify the most qualified tenant for your property. This screening process includes:
    • Credit reports
    • Rental history
    • References
    • Employment records
    • Criminal background checks
  • Negotiate tenant leases
  • Handle lease renewals

Maintenance

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  • Nationwide will prepare specifications, solicit bids, negotiate, and finalize contracts for all routine services as necessary to operate and maintain the property.
  • For some items, we will negotiate statewide pricing with various vendors, which allow all properties in our portfolio to enjoy the savings.
  • If you desire, we can provide you with a list of vendors we intend to use for your pre-approval.
  • Nationwide will obtain quotes for non-routine maintenance services estimated to be in excess of a dollar amount set by you, from contractors, vendors and suppliers as necessary and directed by you.
  • Nationwide will identify periodic services, preventative maintenance procedures, and significant maintenance needs of the property. We will develop a schedule to insure satisfactory completion of periodic maintenance services on a timely basis.
  • Nationwide will establish an emergency service program, and its implementation will include a 24 hour answering service and emergency call system. We will be responsible for taking and responding to all requests, including emergency services at all times.

Marketing

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Each of our managed property benefits from our creative and innovative marketing experience. Strategic marketing plans are part of our property management services which determine how dollars are spent to attract target audiences and qualified traffic. The Property Manager assigned to your property will actively market the property to maintain the highest levels of occupancy.

  • Create a marketing plan for each property
  • Place and track advertising and marketing efforts
  • Research and recommend market rents

One-on-One Meetings

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We encourage the property owners to periodically meet with the property manager to monitor its economic performance and to discuss issues and opportunities.

On-Going Policy Development

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We will keep you informed as to significant changes in legislation, insurance, etc., pertaining to the property.

Other Administrative Services

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As required, we will hire, train, and supervise all personnel assigned to your property management.

Owner's Safeguards

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Sound financial management starts with a system of checks and balances, consistent routine procedures, separation of various functions, and high standards in producing detailed financial reports.

  • We receive a corporate review each year by an outside CPA.
  • We carry a $1,000,000 fidelity bond and require two persons to review and sign all checks. Nationwide prides itself in the professionalism and accuracy of its accounting department.
  • The property manager assigned to your property will review all invoices prior to accounting processing.

Payment of Your Monthly Expenses

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Our Accounting Department will on your behalf such as:

  • Mortgage
  • Property Taxes
  • Insurance
  • Utilities
  • Gardening and Pool Services

Property Inspections

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Nationwide will conduct regular property inspections and will provide you with complete a written inspection report.

Real Estate Taxes

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We will review annually the real estate taxes and assessments for the Property immediately after such Estimated Market Values and once approved shall pay said taxes before they become due and payable.

Records and Files

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We will establish and maintain orderly files containing rent records, insurance policies, leases and subleases, correspondence, receipted bills and vouchers and all other documents, correspondence and related papers pertaining to the Property and the operation and maintenance thereof. These documents and files at all times are to remain the property of the Owners and shall be made available to Owners.

Rent Collections

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We are very aggressive about rent collections. Rents are due on the first and considered late on the second. Late fees are charged and if necessary, we know all the steps to take in the event the rent is not paid, including pursuing legal action.

Reserve for Replacements

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We will develop a Reserve for Replacement Program using life cycle costing and will update it during preparation of each annual budget at no cost to you. We will discuss the estimated remaining life of each major component with you each year.

Resident Communications

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We understand that you expect Nationwide to receive and act on all calls, suggestions and complaints from residents. Any calls/questions, which we cannot handle, or are outside our authority, will be referred to the appropriate source. It is our intent to free you from becoming involved in daily operational duties.

Rule Enforcement

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Nationwide will administer and enforce the rules and regulations as you direct. Infraction notices and fines will be levied in accordance with your policies. In the event you have not yet formulated rules and regulations, policies and procedures, or a Resident Handbook, we will work with you to develop.

Security Deposits

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We will manage your security deposit escrow funds and make sure you are in compliance with local and state regulations.

Supervision

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Site managers are hired, evaluated and terminated as necessary through our office with consultation as needed with the owner/client.

Vendors

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We have a significant database of vendors, suppliers and contractors to make sure they provided good quality work at reasonable prices.