Property Management

Many property management companies offer a one-size-fits-all approach to their services.

At Penzone Property Management, we take a consultative approach with all of our clients to fully understand their needs and goals, and determine a service and pricing model that is advantageous to all parties. With that in mind, below are descriptions of our most common services.

Property Management

At Penzone Property Management, we understand that hard work goes into making sure your real estate portfolio runs smoothly while ensuring the residents are pleased. When you choose PPM as your management partner, you will immediately feel the benefits of transitioning from owner-operator to passive investor.

• ASSIGNED PROPERTY MANAGER
  • Owners and Tenants will have access to an assigned Property Manager as the point person for all communication. The Property Manager will be supported by a professional customer service department at our main office.

• OWNER & TENANT COMMUNICATION
  • PPM will handle all calls, letters and emails from Tenants in regard to their account. Owners and Tenants have access to a user-friendly online web portal, accessible from any device.

• RESPONSES TO INQUIRIES OR REQUESTS
  • Tenants can submit requests, complete with notes, documents and pictures, through their online portal account. We will acknowledge all requests within one business day for non-emergency requests and immediately begin the remedy, whatever that may be depending on the situation. Requests become work orders in a ticketing system accessible to all parties involved. Updates will be provided promptly, and the ticket will be closed out upon completion. PPM has partnered with emergency service providers available 24 hours per day.

• LEASING
  • PPM fills vacancies quickly, marketing through various means including our network of renters and realtors, and all the top rental search websites. Tenants are screened for Credit, Income, Criminal and Eviction background checks. PPM handles all property showings, application screening, lease preparation and execution, and security deposit escrow.

• COMPLIANCE
  • PPM ensures regulatory compliance with the Lease and required disclosures, any required Notices to the tenant, and maintaining security deposit funds and requirements. PPM maintains a document library for the owner, available via the web portal, where documents such as leases and addendums, property inspections, and important property documents are available.

• LEASE ENFORCEMENT
  • PPM handles the enforcement of the lease as well as compliance with local ordinances, state and federal laws. While our team primarily focuses on establishing workable solutions to problems, we also advise owners when it is appropriate to enforce legal action against delinquent tenants, and upon approval, will process in accordance with local, state and federal law.

Financial Management

PPM provides internal controls which include a system of daily checks and balances, budget comparisons, and monthly cash flow analysis. We are prepared to assist you in managing your assets in accordance with short- and long-range plans. We will constantly look for ways to maximize investment return while maintaining safety and liquidity of funds.

• ACCOUNTS PAYABLE
  • PPM can handle any and all bill payments for your properties. We accept, review and process all invoices, ensuring accuracy and service completion prior to authorizing payment. Vendors are checked for licensing and insurance requirements. We will also handle the processing of all vendor 1099 forms and submit them to the IRS.

• FINANCIAL REPORTING
  • PPM provides monthly Cash Flow Statement and Income Statement to Owners. Several financial and management reports are available in real-time to Owners via web portal. All charges are accompanied by invoices & receipts, to ensure complete and accurate accounting.

• BUDGETING, FINANCIAL PLANNING & ROI ANALYSIS
  • PPM offers periodic budgeting services, developing pro forma financial reports, planning for capital expenditures, break-even analysis for upgrades, and property/portfolio ROI analysis. In addition, we will examine the debt structuring and insurance coverage of properties and portfolios.

Asset Management

Whether it be routine property maintenance or an unplanned event, PPM has the knowledge, expertise and contacts to provide expeditious solutions. All maintenance items and projects are managed by in-house experts with a focus on customer satisfaction and staying on budget.

• MAINTENANCE REQUESTS
  • PPM receives service requests from Owners and Tenants and initiates corrective measures either through our staff or our extensive network of service contractors. Owners set a maintenance approval dollar limit, where any cost above that limit must be authorized prior to commencing. Our goal is to address concerns promptly and provide courteous service to all residents. All service requests are processed and monitored through our computerized work order system administered by PPM. Routine and reactionary maintenance facilitation will be overseen by PPM to ensure quality, timeliness, and completion.

• BIDS
  • When additional proposals and bids are required, your property manager will develop written specifications, which would be approved by the Owner. We secure multiple bids for all major services or supplies. All bids will be reviewed first by the property manager, and then distributed to the Owner with our recommendations.

• REGULAR INSPECTIONS
  • PPM completes regular inspections and details findings on a report complete with photos and relevant comments, which is then distributed to the owner and available on the web portal. Detailed inspections are completed upon Move-In and Move-Out, ensuring all repairs above “normal wear and tear” are compensated via the Tenant’s security deposit. We have the ability to create a customized property inspection, suitable to capture the information you need for any unique circumstances. Preventative Maintenance items are recommended to Owner.

• PREVENTATIVE MAINTENANCE
  • PPM offers periodic preventative maintenance planning and execution for your property and portfolio. Our team will inspect and recommend planned maintenance, investigate pricing options, and coordinate implementation of plans. Planning for maintenance, rather than reacting to emergency maintenance, allows us to save our Owners a substantial amount of expense and stress.

• CAPITAL IMPROVEMENTS & PROJECT MANAGEMENT
  • Capital Improvement projects are a great way to achieve a higher return on investment and increase the value of your asset. PPM has the knowledge and skillset to determine the financial feasibility and break-even of a capital improvement project, as well as the oversight and management of the project itself.

Real Estate Investment Acquisitions & Sales

Through our partnership with Penzone Realty, we have the knowledge and expertise to help all real estate investors, from novices acquiring their first rental property to veteran investors who are moving into the big leagues. Our acquisition teams will assist you finding investments that meet your strategy and risk level, while performing complete due diligence.