Services and Philosophy
Prime Properties provides:
- Residential Property Management – our primary focus
- Commercial Property Management
We deliver these services with the following in mind:
- Our Philosophy: We believe the best way to manage residential and commercial investment assets is by keeping them in a clean and updated condition. Property management demands this. This in turn generates higher market rents, faster leasing, and quality satisfied residents, thereby increasing the asset’s appreciation. Any professional property manager knows that keeping properties in excellent condition is simply better for everyone, the tenant and the owner.
- Leasing Service: We are available! Our property management office is open, with live people answering calls during normal business hours. Responses from well-written ads in the major local paper, postings on the internet, “For Lease” signs, and our friendly telephone manners get the process flowing. As a property manager and members of the Austin Board of Realtors®, we list rentals in the LMS database (similar to MLS) for other leasing agent assistance and greater exposure. In addition, having been in property management for over 30 years, we receive general rental inquiries and referrals from other Realtors® daily.
- Tenant Background Checks – We perform careful tenant screening utilizing credit and criminal background checks, and employment and rental history verification.
- Accurate Rent Assessments – Maintaining current market knowledge, and understanding the forces effecting it, assists clients in navigating changes in a prudent fashion.
- Legal Duty to our clients: As a property manager, Our legal duty to our clients is “fiduciary” and simply means we serve them as though we own the assets ourselves. It also means our clients’ interests are prioritized to ensure a mutually beneficial relationship. If a deal isn’t good for both parties, it’s just not a good deal.
- No Maintenance Surcharges – We do not mark up charges for performing repairs; all work is at cost.
- Reduced Maintenance Costs – With our property management, expenses are minimized through our long term relationships with quality service providers. In addition, our weekly pay period provides vendors with greater cash flow and flexibility in performing various tasks. Because of our volume of work, our vendors give us excellent pricing which is directly passed on to our clients. Maintenance tracking software integrated with our residential and commercial property management system allows for higher efficiency in performing repairs and reporting expenses. Incidentally, our clients get copies of every billed invoice providing full disclosure of the expense.
- No “Nickel and Diming” – Our clients don’t get charged for items such as faxes, long distance, copies and postage expenses. We’ve even been known to waive fees. For example, once a new tenant occupies a unit, and the lease fee is assessed, if that tenant, for whatever reason, has to breach their lease after a short period, we will re-lease the residential or commercial property at no additional charge to our client, excluding direct expenses for make ready and advertising. We want to prevent bad ownership experiences and help, not hinder, our clients in their investments. This is essential to our property management and the bottom line to investors.
- Diligent Rent Collection – Collecting rents, evicting non-paying tenants, and getting vacant units rented are done in a proactive and thorough fashion.
- Creative Solutions to Problems – At Prime Properties, with our combined background of legal* and real estate experience, “out of the box” solutions are available in addressing unique or difficult problems – an added benefit from Prime Properties, your property manager.
- Accounting and Monthly Statements: Statements and distribution checks are generally processed by the 10th of each month. Our accounting system is simple (cash basis), detailed, and accurate. It allows us to accommodate owner requests, such as interim statements, year-end statements and custom statements (detailing account histories such as security deposits, or any other account that transactions are posted under). Vendor invoices are inserted into Client monthly statements to provide transparency and the details on specific expense charges. The entire populated statement is then scanned and emailed, or mailed via US Postal Service, depending on our client’s preference. Proceeds are distributed monthly with each statement cycle.
- Purchasing and selling residential and commercial property: Often we are asked to assist in the purchase or sale of property. Depending on the nature of the property, we use a variety of avenues for brokering, such as the Multiple Listing Service of the Austin Board of Realtors® and other advertising media. Naturally, your transactions are handled with high degrees of professionalism given our property management experience and skill sets. If you are interested in selling or buying residential or commercial property, please give us a call to explore how we can help.