• Regional Property Manager supervision and direction of the property.

• Hiring, training and supervision of all employees.

• Marketing of rental units (for most clients) to include:

        a) create media advertisements

        b) receive and process inquiries generated by the advertisement

        c) qualify, screen and process applicants who are being considered for residence

        d) show vacant units

        e) establish rental rates 

• Collect rents and other charges and take legal action against residents for delinquent accounts or breach of lease.

• Maintenance of the buildings, grounds and appurtenant structures.

• Property Manager direction of Annual Dwelling Unit Inspections.

• Coordinate purchasing of materials and supplies to obtain volume discount and solicitation of competitive bids.

• Competitive placement of service and repair contracts.

• Maintenance of the computerized property management system's records and accounts.

• Preparation of the monthly financial, occupancy and variance reports to the Owner.

• Maintenance of up-to-date monitoring of the market competition within the property's geographic area.

• Preparation of Budgets for Owner approval.

• Obtain Owner approval of major expenditures ($5,000 or as contracted).

• Assistance with the Year End Audit.

• Placement and administration of the Property Insurance requirements.

• Representation of the Owner with governmental agencies.

• Meet with the Owner to review progress and set future objectives.

• Evaluate, modify or expand social/training programs as necessary to meet the needs of the community.

COMPUTERIZED PROPERTY MANAGEMENT SYSTEM

TM Associates Management utilizes a computerized property management system (PMAS) that has been developed to provide for the specific needs of the affordable housing property management industry.  In the past, managing residential property was a predictable, straightforward process controlled by an informal, common sense approach.  Costs were usually well defined and relatively fixed.  This luxury is no longer afforded the property management industry.  Dramatically rising energy costs, fluctuating interest rates, sophisticated residents, and demanding governmental agencies, require flexibility and the ability to quickly analyze conditions and recognize trends to be able to maintain the property at its maximum potential.

System Overview

Our system is an integrated set of programs designed to run in con­junction with each other.  Transactions are automatically updated between each subsystem so that reporting information is always up to the minute.  This system is designed to provide timely and consistent monthly reports identifying variances and trends.  These reports are analyzed by our management team to identify problem areas to which solutions are discussed and then presented for the owner's approval.  The computerized reports are organized into two major subsystems: Resident Records subsystem and the General Ledger subsystem. 

 

The General Ledger subsystem prints checks, maintains a comprehensive general ledger and produces the Monthly Financial Reports to the owner.  The property's annual budget is loaded into the database at the beginning of each fiscal year.  Every disbursement impacts a general ledger category, which in turn produces a monthly Budget Performance Report.  The report gives the Property Manager and the Controller a valuable tool for maintaining the sound financial health of a property and ensures that every dollar spent from the Operating Account is accounted for precisely.  The budget performance information forms a part of the record upon which subsequent year's financial planning is based.  The system produces a variety of management and financial reports essential to the effective and efficient operation of the property.  The reports, which are generated monthly, include the following: 

 

                  a)   Cash Receipts                                                 

                  b)   Monthly Disbursements            

                  c)   Accounts Receivable                           

                  d)   Accounts Payable

                  e)   Cash Flow

                  f)    Operating Profit/Loss Statement with Budget and Variance 

 

The resident records subsystem is designed to ensure accuracy and reliable tracking of resident programs as well as the demographic information important to the effective management of the property is maintained in a database for reference and analysis.  The resident records subsystem captures information relative to the composition of the household and their income.  The affordable housing module analyzes the information and confirms eligibility prior to accepting a move-in for processing.  The monthly-generated reports include the following: 

                  a)   Rent Roll

                  b)   Resident Delinquencies

                  c)   Vacancy Losses       

                     

Each subsystem is designed to provide specific procedures, control functions and reporting requirements.  They are fully documented so that site and central office personnel fully understand the procedures and objectives of each subsystem.  This provides management and the owners with a dependable and consistent system with which we can monitor progress and identify deficiencies on a timely basis.

Back to Top