Property Management

Monarch Real Estate has a property management division that can make your life as a landlord much simpler.

At the most basic level, a property manager supplies tenants with a place to live in exchange for rent. But unfortunately it’s not that easy, and all the various elements involved in renting a property can become a massive headache for an individual.

The variety of tasks and challenges involved in managing a property can be daunting for the inexperienced and time consuming for others with multiple properties. The following list can give you some idea of the complex issues that Monarch Real Estate can eliminate for you as your property management team.

1. We retain Association funds in a suitable operating account; maintain a reserve interest-bearing account and operate any other investment accounts funded at the discretion of the board of directors.
2. Create detailed monthly financial reports such as balance summaries, budget comparisons, homeowner delinquencies and earned interest for the Board of Directors or Development Company
3. Supply assessment collection services and institute delinquency procedures as established by the Board of Directors and Governing Documents.
4. Collect and remit Association Dues at the proper time(s)
5. Create and retain current unit-owner records including debits, credits, late fees, any fines, delinquencies, bankruptcy, liens, etc.
6. Provide and supervise maintenance of all common areas
7. Obtain and vet a minimum of 3 job quotes on any large contracted projects the Association may be interested in pursuing.
8. Arrange bid specs with contractors for work that will be performed on the property
9. Evaluate all received invoices for accuracy before payments are made
10. Disburse Association related invoices and maintain appropriate records
11. Final Inspection on Association’s contracted work for completion and satisfactory workmanship
12. Administer a team of respected contractors who will supply skilled services at competitive market rates.
13. Provide guidance to the Board of Directors on budget items, property management, and maintenance issues
14. Aid the Board of Directors in development of ongoing strategies for property maintenance and improvements.
15. Meetings held in conjunction with the Board of Directors quarterly and participate in the annual general membership meeting.
16. Preparation and distribution of all necessary Association related notices.
17. Preparing and filing of any government reports that are required.
18. Monitor new sales and re-sales within the Association and inform new homeowners about Association procedures with Welcome letters.
19. Moderate homeowner concerns and complaints with suitable action and follow-up.
20. Recognize tenant or owner association rule violations and generate warnings and/or fines at the judgment of the Board of Directors.
21. Evaluate all necessary Association insurance policies.
22. Give support in the audit of Association records and books to make sure the audit is completed in a timely manner and with a minimum audit fee.
23. Any additional services or special requirements by a given property may be easily discussed and negotiated.

Contact one of our team members now and Monarch Real Estate can take over your property management problems, whether you have a single condo or an entire folio of multi-family buildings.