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Managing Your Building Neighborhood Enterprises can handle the management of your building or buildings. From tenant services to maintenance to accounting, our professional staff can provide the full or customized service that you require. Tenant Services Buying and rehabbing buildings is the easy part. Managing the tenants who are living in the units is the challenging part. This is especially true of low-income housing where the normal problems of tenant management are made more difficult by the marginal incomes of the tenants. For Neighborhood Enterprises staff, the goal of providing decent, affordable housing is at the heart of all we do. This means finding and renting to good tenants. It also means sometimes helping problem tenants to become better tenants. When the behavior or housekeeping of individuals or families is less than acceptable and they refuse to change, it means that we must evict those tenants-- something we do reluctantly but without hesitation when required. Landlord and employer references and credit reports need to be checked thoroughly. The tenant's housekeeping skills have to be evaluated before and during tenancy. Behavior problems must be handled fairly but firmly. This is done by Mechelle Dunlap, who brings 20 years of experience with NE to her work with tenants. NE's website lists available apartments and is updated weekly. Printed lists are also kept in a pocket outside the office door. NE's maintenance vehicles are lettered with contact information. |
Maintenance Neighborhood Enterprises employs a full-time maintenance staff of six to perform routine maintenance and some upgrades on our apartments. We also have speciality contractors whose services we engage on a regular basis. All NE maintenance employees and sub- contractors are covered by Workman's Compensation Insurance. Usually billing charges are a 50% to 120% markup of the payroll employee's hourly wage. This markup enables us to cover the cost of billing, supervision, transportation, tools, holiday pay, vacations, sick leave, social security, workman's compensation, and down time. Work by independent contractors is marked up 3%-10%. Unless otherwise agreed, Neighborhood Enterprises may spend up to $3,000 or two month's gross rent, whichever is less, for building repair. Owners may set other limits and specify what type of work may be done. Owners may do all the work themselves. We cannot, however, manage property for owners who neither authorize us to do work nor do it themselves. |
Accounting Neighborhood Enterprises uses the Yardi property management software. Management clients receive a of income and expenses and a detailed breakdown of billing for repairs and materials purchased. On a yearly basis, clients receive 1099's and any other required tax information. NE will make mortgage payments for clients or they may request to do such on their own. FEC insurance is available through NE's group plan. |
Management Fees The standard management fee works out to approximately 6.5%- 8.5% of collected rent per month. This is an average fee that may be slightly higher or lower depending on the building in question. The fee includes soliciting and selecting tenants, collecting rent and dealing with delinquent payments, handling tenant house- keeping and/or behavioral problems, annual adjustment of rental rates, payment of authorized bills, and general observation of tenants and property. It does not include newspaper ads, repairs, evictions, or janitorial services. The one-time management set-up fee is $35 per building is $10 per unit. The one-time "rent up" fee per unit is $200. Any vacancy after the first vacancy is filled at no charge. As much as possible the details of a management contract will be negotiated to meet the needs of individual owners and the demands of their respective properties. |
