Landmark Residential Services
Landmark Real Estate Management provides a full range of services for residential property owners, as well as condo and homeowner Associations, allowing them the opportunity to utilize their time more effectively. It is our ultimate goal to provide you the quality service you deserve at the highest level of professionalism. We will continue to acquire and manage properties and address the needs of the local community, while creating and maintaining good client relations and loyal tenancies through highly effective real estate management.
- Rent Collection – Our Landmark team collects all rental income, follows up on collection of delinquent accounts and deposits all collected funds into your property’s trust account.
- Property Evaluation – It is our profession. It is also our responsibility to recognize the potential of your residential property. Landmark will provide you with expert advice on what your tenants should be paying for rent, maintenance and numerous other updates to maximize its value.
Leasing and Lease Administration – Our dedicated, experienced Landmark team will put in all the effort that is needed to get your property rented quickly and efficiently. We recognize that the most effective means of maximizing the value of a property is to retain good tenants and negotiate the best possible lease deals with new and renewing tenants. With that in mind, we will;
- Conduct a detailed review of the rent roll
- Prepare the operating budget
- Track lease expiration dates
- Liaise regularly with tenants to monitor any changing space requirements
- Negotiate offers to lease for new tenants and renewal leases for existing tenants
- Perform financial and reference checks on potential tenants
- Provide recommendations for pricing strategy and tenant inducements for upcoming vacancies
- Prepare detailed leasing particulars for the marketing and advertising of available space
- Stay up to date on market conditions and trends
- Prepare monthly lease status reports
- Notify owners and tenants immediately regarding violations of the Lease Agreement, taking all of the legal steps necessary to enforce the terms of the lease
- Property Maintenance and Operations – Landmark’s property management style is a hands-on, proactive approach. We are effective managers because we pay attention to even the smallest details, visit our residential properties frequently and communicate regularly with our clients and tenants. We also offer 24 hour maintenance services that will take care of emergencies in the middle of the night, provide basic maintenance of your building or property at reasonable rates, or will assign needed work to a local general contractor.
- Site Management – Landmark representatives consistently inspect all properties and we always provide reports of our findings. We also supervise on-site staff and offer assistance with bylaw and rules enforcement procedures.
- Budgets – Our staff at Landmark will prepare annual budgets and budget versus actual expense reports, (variance reports) for residential property owners, giving them a clear and concise understanding of their financial picture and what, if any changes need to be made. The annual budget covers in detail anticipated income, costs and future capital improvements.
- Property Accounting and Transactions – Landmark’s bookkeeping department will provide commercial building and property owners with accurate, computerized record-keeping of payables and receivables, payroll services and employee management as well as monthly and yearly financial statements. We are able to handle all property accounting requirements and are supported by Spectra for Windows, a computerized property management accounting system and database. We establish separate trust accounts for each client so the there will be no co-mingling of funds. This allows our clients to visit our offices at any time and be satisfied that all expenditures and disbursements are accounted for.
Client Reporting – In order for our clients to be current on all activities in respect to their properties, Landmark communicates with them regularly and prepares written reports and financial statements on a monthly basis. Property accounting can be done on a cash or accrual basis, and the monthly reporting package can be tailored to suit the individual needs of each client. Included in the reports and financial statements are;
- Variance reports
- Cash flow statements
- Balance sheets
- Income statements
- Trial balances
- Accounts receivable transaction summaries
- Bank reconciliations and detailed journal reports of the general ledger bank account
Property Management Take Over – Immediately upon being retained as your residential property manager, our Landmark team will take the following steps in order to quickly and efficiently integrate the property into our management system;
- Conduct a complete on-site physical inspection
- Review all current lease agreements
- Analyze account receivables and payables
- Review existing service contracts for quality levels and price competitiveness
- Design and implement preventative maintenance programs and establish banking, accounting and reporting systems in consultation with our client
- Provide a detailed property assessment and management report which will include recommendations for immediate and long-term remedial action.
- Insurance and Other Related Benefits – At Landmark, we recognize that we play an integral role in maximizing value. We continually seek ways to increase residential property cash flow and reduce costs while maintaining the highest level of service. Our clients benefit from the competitive advantage we derive from the size of our portfolio. Additionally, by placing a client’s property under Landmark’s blanket insurance policy, the client benefits not only from savings on insurance premiums, but also by enabling its property to have full coverage up to the maximum value of the blanket policy. Landmark’s goal is to provide the most comprehensive insurance coverage for our client’s at the most competitive price. Our clients also can save money every month on electricity, gas and water bills, and in many other areas including legal matters through utilization of our group rates.
- Legal Retainer Insurance – This saves property owners up to 60% in case of eviction.