The Contract Process

The Management Contract Process

When you first call us regarding managing your property, what can you expect? Below is, step-by-step, what we do to ensure a smooth transition to take over managing your property for you.

When you first call, we'll go over the services we provide, and we'll ask you some questions about your property. The information you give us will help determine your quote for our management fees and for your reserve.

Information we'll ask you about your property includes such things as

The location/address of the property.
Type of property (house, fourplex, apt complex, etc.)
Number of units, if your property is multiunit.
Approximate square footage, and square footage of units
The make-up of the property (efficiencies, one-bedrooms, etc.)
Age of the building
Occupancy rate
Gross rents
Are the leases written or verbal, month-to-month or year-long?
Who currently maintains the property?
What bills (including a mortgage) would we pay for you? Which utilities do tenants pay?
What are your property expectations?

Once we have as much information as we can gather, we'll mail you a packet including a management contract for your review. We also like to set up a time to either meet with you, or to have a phone conference, to discuss the contract and the terms & conditions. We'll also arrange a time to walk the property and take photos.

Once all the details are agreed to, we'll need a list of items from our property transition list so we can begin management effectively. Those items are

Tenant lease files
Keys (door, mailbox, storage, gate keys, etc.)
Maintenance contracts, including warranties
Current tenant ledgers
Current bills (utilities, taxes, and insurance)
Rent status/roll with security deposit information
Insurance documentation
Mortgage information, if you wish for us to pay it monthly
Your Social Security number & driver's license number
Names and phone numbers of vendors you would like us to continue to use, if any.
Owner funds to establish your reserve account.

As soon as we have all those items and take over management, we'll notify your tenants in writing of the change. After that, how much you wish to be involved is up to you!



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	The Management Contract Process When you first call us regarding managing your property, what can you expect? Below is, step-by-step, what we do to ensure a smooth transition to take over managing your property for you. When you first call, we'll go over the services we provide, and we'll ask you some questions about your property. The information you give us will help determine your quote for our management fees and for your reserve. Information we'll ask you about your property includes such things as The location/address of the property. Type of property (house, fourplex, apt complex, etc.) Number of units, if your property is multiunit. Approximate square footage, and square footage of units The make-up of the property (efficiencies, one-bedrooms, etc.) Age of the building Occupancy rate Gross rents Are the leases written or verbal, month-to-month or year-long? Who currently maintains the property? What bills (including a mortgage) would we pay for you? Which utilities do tenants pay? What are your property expectations? Once we have as much information as we can gather, we'll mail you a packet including a management contract for your review. We also like to set up a time to either meet with you, or to have a phone conference, to discuss the contract and the terms & conditions. We'll also arrange a time to walk the property and take photos. Once all the details are agreed to, we'll need a list of items from our property transition list so we can begin management effectively. Those items are Tenant lease files Keys (door, mailbox, storage, gate keys, etc.) Maintenance contracts, including warranties Current tenant ledgers Current bills (utilities, taxes, and insurance) Rent status/roll with security deposit information Insurance documentation Mortgage information, if you wish for us to pay it monthly Your Social Security number & driver's license number Names and phone numbers of vendors you would like us to continue to use, if any. Owner funds to establish your reserve account. As soon as we have all those items and take over management, we'll notify your tenants in writing of the change. After that, how much you wish to be involved is up to you!
	Disclaimer: All content herein copyright Olympus/Nelson Property Management Company, 2005. Terms and conditions posted here are subject to change without notice. All content on this site is for informational purposes only, and does not constitute a contract. Olympus/Nelson is not responsible for content on websites that are linked to from here.