Management Services

FARNAM specializes in Real Estate Asset Management, we are professionally personal Realtors® driven by our passion for the industry and our core value that we care about making our clients money. We identify tangible ways to maximize the full potential of your asset and increase your rent roll, cash flow, and ultimately the overall value of the asset as a whole. 

Basic Management:

• • Establish tenant portals for all tenants using management software Appfolio
  • Key Organization- maintain key database in office and on-site for each property, provide keys to tenants and emergency lockout services
  • Manage garage assignments and parking maps
  • Negotiate contracts for outside services such as trash, snow removal, landscaping, pest control, etc.
  • Provide quotes and obtain prior approval for projects over $250

 

Tenant Communication:

• • Handle all tenant communication- calls, letters, notifications, etc.
  • Ties into renewals/leasing

 

Leasing:

• • Lease Renewal Negotiation, sign and file/archive leases
  • Market upcoming vacancies and show apartments
  • Handle move-in and move-out process, including move-out inspection, apartment turnovers and security deposit recommendations

 

Rent Collection:

• • We provide online payments as an amenity to your tenants
  • Operating bank accounts must be kept at Bank of America and we must be a signer on the account (Exception for non BoA accountswe must be signers and have remote deposit capabilities)
  • For tenants who pay with cash, checks, or money orders- a remote deposit check reader or BoA deposit only debit card must be obtained from the bank.
  • Track rent payments in Appfolio and provide online portal access for tenants and owners
  • Contact delinquent tenants Manage eviction process when necessary
  • Devise payment plans for tenants in arrears when necessary
  • Handle Section 8 recertification process as well as move-in process.
  • Issue security deposit refunds

 

Maintenance:

• • Receive, evaluate, and execute on service requests/repairs under $250
  • Obtain prior approval/advise Landlord when required repairs exceed $250

 

Inspections:

• • Manage LCI, Bank, Insurance, Section 8, and HUD inspections

 

Accounting:

• • Receive all bills at our office and pay from bank account, organize and archive
  • Pay insurance and taxes
  • Provide quarterly or semi-annual reports on investment return and profitability
  • Reconcile and manage property-specific bank account
  • Analyze profit and loss and make recommendations as needed
  • Utility bill management including any tagged mechanicals or meters for GAS, UI, WATER
  • Analyze 3rd party electric supplier benefits
  • Bill Tenants for leases where Landlord is not obligated to pay water and sewer
  • Laundry Coin Collection and bank deposit
  • Meet quarterly with client or as needed at clients request
  • LLC entity filings and business entity taxes
  • Pay 3rd party contractors

 

For a complete list of services and fees, or for more details , click here now to email Josh.