Sky Management’s Property Management Services include:
- Understanding your plans and goals for the property and acting accordingly [We discuss being accountable to you in the column to the right.]
- Inspecting each property inside and out, thoroughly and repeatedly as necessary. This helps maintain a high standard of quality for tenants and also helps maintain the property as an investment.
- Ensuring that maintenance, repairs and upgrades are completed. This includes purchasing appropriate materials, supplies and equipment
- Reviewing and managing service contracts to ensure top quality
- Advertising vacancies. [See the FAQ answer for “how is my property marketed” for more on this topic.]
- Using a variety of media
- Tailoring marketing to different properties.
- Guiding prospective tenants through the application process
- In accordance with fair housing laws
- Incorporating each owner’s direction (but still in accordance with fair housing)
- Safeguarding tenant and prospective tenant personal information
- Promoting good tenant relations.
- Collecting rents and other income in strict compliance with the terms of the lease. This is the way the owner receives return on investment. And it’s the way we are paid.
- Delivering legal notices as necessary.
- Using court actions to enforce the lease as necessary.
- Facilitating appraisals and inspections on owner’s behalf.
- Collaborating with owner’s real estate brokers or acting as owner’s real estate broker in property purchases and sales (subject to separate agreements and commissions).
- Performing all accounting functions, including:
- Comprehensive monthly and annual financial statements
- Year-to-date income and expense as needed
- Link here to a general statements section?
- Retaining records as required by law,
- Providing onsite caretakers for larger property complexes.
Your Worry-Free Property Management Company in Albuquerque.
We are wealth managers and we take your investments seriously. Sky Management handles your house or apartment complex with competence and discretion. We share your desire to balance property maintenance with managed cash flow.
Sky Management is Accountable to the Property Owner. We communicate with owners. We suggest upkeep or repair as needed. We tailor our communication to each owner’s wishes. Some are informed of each action. Some request communication only above an agreed-to threshold. All owners receive monthly statements of financial status. When it comes to maintenance, we oversee the work whether it’s done by our employee or a subcontractor. We routinely work with insurance companies to submit claims on our owners’ behalf. Drive By or Walk Through Assessment and Tenant Relations Seeing is believing. In addition to formal inspections, we train our personnel to monitor properties and proactively address issues. There’s a dog barking – are pets allowed there? Does that parking lot need to be swept? Is that yard being watered appropriately? We drive by the property to see if anything is amiss and communicate with tenants accordingly. Even if you live nearby and like to drive by the property yourself, we help protect your privacy. When a tenant needs to receive notice, it comes from us, not “the owner”.
Property Management Fees
One of our fundamental strategies is to share your priorities:
IF WE DON’T RENT THE PROPERTY, WE DON’T GET PAID! Many property management companies charge a minimum monthly fee, even if the property is vacant. Many also have a set-up fee when they take management of a property.
Sky Management charges Property Owners:
- No set up fee
- Ten percent of the rents collected plus applicable taxes (NM GRT)
- Maintenance fees for repairs and upgrades not charged to tenants per the lease agreement
- Advertising costs (passed through);
- Start up costs if a property coming to our management is not ready to rent.
- Court filing costs: these are initially paid by the owner and are billed to the tenant. The owner is reimbursed when the tenant satisfies the judgment.
- A reserve for each property. Actually “held” as opposed to “charged”. The amount of reserve varies by property.