Services and Fees
Atlas Property Management LLC is a full service management company. Before we begin managing any portfolio, one of our partners meets with each client to evaluate the condition of their portfolio. Similar to the way a doctor conducts a physical to determine the health of a patient, APM conducts a diagnostic to determine what areas of a portfolio need the most attention. We will then customize a management program to eliminate problems where they exist and streamline the transition into our processes.
Clients can expect to see many of the services common to full service management companies. These include the following:
- Tenant Placement – Marketing is a very large part of our business. We employ a full time staff member to focus solely on generating prospects. Every day we have dozens of people contacting our office in response to the many marketing outlets we employ. These prospects are quickly transitioned into showing appointments and applicants. We typically have multiple candidates for each vacancy. Candidates are then screened to eliminate those who are unqualified. Our screening process analyzes an applicant’s income, credit score, background, and five other key indicators that allow us to evaluate the probable quality of each applicant. After we have selected one or more possibilities, our clients are presented with the facts to authorize the final decision.
- Lease Preparation – Owners are free to require the use of any lease agreements that they choose. But our attorneys have drafted some of the industries most protective leases. We come to the table as real estate investors. At APM we know the value of protecting property owners and their investment assets. While fair to all parties, our paperwork addresses many vulnerabilities ignored by a standard lease. Several days before occupancy, our clients have the opportunity to review the lease and make any changes that they see as necessary. Our licensed professionals handle the rest.
- Repairs - We have contractors, or we’ll work with yours. Over the years we have built a strong book of some of the best contractors in Philadelphia. They’re reliable, their work is good and their prices are some of the best in town. Our construction teams give us great rates because we keep them busy. Whether responding to a simple service call or a complete remodel, our clients appreciate the attention to detail and advice to keep expenses to a minimum. If you have a great contractor, we’d love to work with them too.
- Rent Collection – APM is dedicated to collecting your rents. We have systems in place that have allowed us to consistently collect over 95% of rents. Our process includes monthly invoices to every tenant, phone calls to tardy tenants, property visitation and other steps to maximize collection and retention. This is one of our specialties. Because if our clients do not get paid, neither do we.
- Rent Processing – Each month we process rents on the 15th day of the month. Every client receives monthly statements that detail rent collection, bill payment, maintenance costs, capital improvements and all other income and expenses. These statements are mailed or emailed to each client and their net income for the month is mailed out on the 16th.
- Bill Pay/Utility Reimbursements – APM offers the convenience of bill payment for every expense associated with our clients’ properties. Any expenses that are tenant responsibilities are then added to the tenant’s ledger for collection the following month.
- Eviction Filings – We avoid evictions wherever possible, but there are times when they are necessary. APM has the knowledge and experience to make sure our clients get possession of their properties as quickly as possible. We work with the best eviction attorneys in the city and appear at every court hearing.
Added Value to Our Clients
At APM we take the same approach with our billing that we take with our management. Simple and direct. If you are searching for a 5% management company, you are in the wrong place. We take our management responsibility seriously, and find it difficult to believe that any company could make money and do a credible job for 5% of collected rent.
Our all encompassing management fee is between 8 and 10% of what we collect. And we earn every penny. Our services include many hands on services you will not get from any other management company. A few examples include the following:
- Neighborhood Mailers - Management clients enjoy an enhanced marketing plan to find quality prospects to rent their property. In addition to the basic marketing available at other management companies, we send out postcard advertisements to a targeted list of renters who may have an interest in your property.
- Late Rent Calls – We call tenants when we have not received their rents. On the 3rd, 5th, 8th and 14th day of each month we contact tenants to make them aware that we have not received payment for the current month. We often find the person either forgot or that they mailed the payment, but it has not yet been delivered. These calls also give us early warning signs when collection may be a problem.
- Doors for Dollars – On the 15th day of every month, we physically visit the home of every tenant who has not paid. Typically this may be only one or two individuals, but it has helped us reach a 98% collection rate for all of our occupied properties.
- Weekly Updates – Our clients receive updates on the status of their portfolio every Monday. We spend focused time each week reviewing maintenance request, tenant correspondence, portfolio development and the general status of tenants.
- Service Request Notice – Clients receive instant email notification about any service requests when they are created.
- Billed-At-Cost Construction – Maintenance is a part of any real estate investment property, and service calls will happen. Our management clients enjoy the constrained costs of our billed-at-cost model. Our contractors give us prices well below our competition for quality work. Our idea is simple. You pay what we pay for all common maintenance. For larger projects, we’ll provide several quotes and manage the project for a minimal fee.
- Bill Pay – We process and pay all property-related bills at no additional cost. These may include: water, gas, electric, mortgage payments, insurance, rental licence, etc.
- Eviction Representation – We do everything possible to prevent eviction, but when they are necessary we are prepared. We are present at every eviction hearings to represent the interests of our clients. There is no additional charge for this service.
- Judgement Collection Services – After a bad tenant is out of the property, it’s time to recoup the lost rent, evictions costs and expense of repairs. APM works with attorneys experienced in the collections. This includes wage and bank account garnishment to get your money back.
- 24-Hour Account Access – See invoices, statements and up to the minute changes to your account whenever and wherever you are.
- No Obligation or Long Contract – We are so confident that you will see the value of our service, that you may cancel the property management agreement at any time.
Property Management Fee Table
|Description of Services||Our Fee|
|Tenant Placement for Managed Properties||First Month’s Rent|
|Tenant Placement for Non-Managed Properties||First Month’s Rent|
|Monthly Management Fees||8-10% of Collected Rents|
|Late Fees||Split Equally with Homeowner|
|Standard Maintenance||Billed at Cost|
|Property Winterization (Optional – for vacant properties only)||$85|
|Eviction Services (Available Only for Management Clients)||Billed at Cost based on Attorney|
|Eviction Court Appearance||Initial Appearance Included with Service|
|Weekly Portfolio Updates||Included Service|
|24-Hour Online Access to Your Account||Included Service|
|Aggressive Advocacy for Our Clients||Included Service|