Brutger Equities

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REsidential Management Services

Corporate Oversight

Our area property managers provide property oversight through daily/weekly communication and regular property visits. Housing Assistance Payments, special claims, and TRACS are processed by the Housing / Compliance Coordinator at the Corporate headquarters of Brutger Equities, Inc. In addition, resident and applicant certifications are reviewed frequently and audited annually to ensure compliance with the regulatory agency requirements.

Marketing and Leasing Activities

Marketing - activities at the property will consist of any or all of the following as appropriate to occupancy and budget conditions: newspaper promotional advertising, radio advertising, referrals, waiting lists, promotional incentives, and manager networking.

Occupancy - like any management company, our goal is to be 100% occupied at all times. When the property does experience unit turnover, our objective is to minimize the turnover time so that units can be re-rented and any available vacancy claims can be made to State or Federal Housing agency. In addition, all prospective residents will have income, credit, and criminal history verified before approving or denying the application.

Rental Payments

We are aggressive in the collection of rent, both current and delinquent. Our goal is to have zero delinquencies by the 20th of the month. We utilize payment plans, small claims court, and collection services to collect on rent receivables. When payment is not forthcoming, we will vacate the apartment as quickly as possible to prepare it for re-rental.

Maintenance

Maintenance Issues – we utilize a proactive approach to maintenance. Unit inspections will be conducted at least annually or more frequently when needed. All maintenance calls will be answered within 24 hours. We work with site maintenance personnel to assure high quality, cost-effective repairs.

Financial Reporting

Financial reporting will be produced monthly by Brutger Equities corporate financial services. Reporting will consist of monthly property income and expense reports, as well as balance sheets, variance reports, occupancy reports, and delinquencies. Property traffic reports are prepared weekly.

Project Financial Activities

Annual Budget – The annual operating and capital improvement budgets are developed by the District Manager using historical property information, and input from on-site management. Proposed budgets are then sent to owners for review and final approval.

Expense Control - Expense control is achieved by utilizing two levels of approval for all property expenses less than $1000 and three levels of approval for all property expenses above $1000.

Accounts Payable & Accounts Receivable – All accounts payable and accounts receivable functions will be coordinated by the Brutger Equities corporate financial employees with the assistance of the on-site manager. In addition, the on-site manager will make all bank deposits.

Management

When we take over the management of your property, we will notify all residents of the management change, deal with any tenant relations and/or problems, coordinate turnovers, and handle the day-to-day operations of your property. Day-to-day operations include: unit inspections, setting up contracts for snow removal, refuse, exterminating, insurance, etc.

We will furnish an operating report to you of all financial transactions that occurred during the preceding calendar month by the fifteenth of the month. These reports can be adjusted or customized upon your request.

The management fee for your property will be determined at the signing of the management agreement.