Dynasty Property Management & Sales Management Plans

Effective management for the success of a housing development, condo or townhouse community.

We understand that housing represents not only a place in which to live, but also a community to be identified with. We keep this in mind in selecting the right tenant for the right location and neighborhood. Every effort to maintain and increase the quality and culture of a community is implemented through our intense applicant screening.

Policies and Procedures

To ensure the successful implementation of Property Management, establishing policies and procedures is the only way to achieve this goal. With our effective management, implementations of these regulations have proven successful.

We continuously review our policies and procedures to ensure that our services are compatible with industry requirements and consistent with ever-changing HUD and government regulations.

Professionalism

Dynasty Property Management & Sales, LLC will manage your asset, maximize your profit, and assist you with all property management needs. We know our business, and have professionals in every department working to support you in accounting, administration, maintenance and operations.

Tenant Selection

All vacant rental properties are shown to prospective tenants only by our certified Property Managers. In addition to providing security for your vacant unit, by controlling access, this allows our managers the opportunity to meet and observe each prospect. The selection of a tenant requires much than taking an application and checking references. It is a combination of observation, verifying information and proper subjective evaluation. This skill is only acquired through formal training and experience.

Understanding that the Tenant selection process is a crucial component in the overall success of a facility, the Management Agent seeks to ensure that partiality and all other forms of discrimination are avoided. The following tenant selection process is an overview of this intent.

The Agent seeks to:

1. Make unit availability known throughout the community by the use of existing area-wide and neighborhood resources and the use of local newspapers.
2. Create an orderly and efficient application procedure that will guarantee full and fair consideration of all applications submitted.
3. Establish reasonable and equitable selection criteria, to distinguish between applicants, which are consistent with the state statutory requirements, and priorities of HUD.

Leasing

All tenants are required to sign a lease which spells out the conditions of their tenancy. We do not rent on verbal agreements. Tenants are also provided “House Rules” which outline the rules of each property. At the signing of the lease, prior to occupancy, the tenant is required to pay a security deposit equal to one month’s rent and the pro-rated rent.

Move in/out Inspection

After all necessary paperwork is signed and funds collected, the tenant’s move-in inspection is performed. The move-in inspection is completed by our Property Manager with the tenant. The tenant uses a checklist to complete, listing the condition of the unit. The completed form is signed by both the Property Manager and tenant. When the tenant vacates the unit, the completed form will be used for comparison, and proof of original condition in the event of any disagreements.

Rental Collection

Our rental collection policy is designed to establish consistent, on-time payments. It starts with the marketing of the property, where careful tenant selection produces reliable tenants. It continues with the signing of the lease where our Manager carefully explains our policies to the tenant which remain in effect throughout the tenancy of the resident with careful collection recording and prompt action on delinquent accounts.

While most tenants make their rental payments on time, some may be late. For delinquent tenants, our policies are clear and rigid, to assure either prompt payment or eviction in order to minimize the owner’s potential loss.

All rents are due, in full, on the first calendar day of the month and are considered delinquent if not received by the fifth day of the month. At this time, the tenant is served with the demand notice which is the first step toward resolution. If the delinquency is not resolved in a timely manner, the Property Manager takes action through eviction.

Physical Management

The physical management of any investment property entails more than just the occasional inspection and responding to tenant repair requests. Each individual property requires different management program characteristics. Items such as age, location and type of structure, all have an influence on the type of program to be implemented.

After obtaining this information, our managers will be able to put their training and experience to use in formulating an effective management program, tailored to preserve your investment.

Property Inspections

Property and Unit Inspections are overseen by our Property Managers according to the frequency on the management plan. Inspections are performed to ensure that proper care of the property is being upheld by the tenants, judge the quality of maintenance performed and to discover any small problems before they become major.

Maintenance

A thorough preventative maintenance program will maintain the quality of your investment. Regular attention and care, utilizing reliable and competent contractor’s, results in a well-maintained property.

Our certified maintenance technician, assigned to the project, is responsible for all routine and seasonal maintenance requirements at the project. To assist the maintenance operation, the project will continue its service contracts with any outside vendors.

Each repair issue will be first examined to determine its necessity and extent. In the event that work is necessary, our reliable technicians will complete the work order request and make the necessary repairs. Any larger type of repairs, stipulated in the management agreement, will only be completed after obtaining approval from the Owner or the government agency regulating the property.

After completion of any work performed, and before invoices are paid, the jobs are inspected for satisfactory completion. Any discrepancies found are ordered corrected prior to approval of the contractor’s invoice. When a tenant’s work order request is completed and submitted to the office, the Site Manager has 24 hours to contact (phone, in-person) the tenant and verify that the work is satisfactory.

Fiscal and Administrative Services

Dynasty Property Management & Sales, LLC will efficiently meet all the fiscal and administrative needs of the property. In addition to the services already mentioned, we offer the following:

• Firm Commitment Bookkeeping
• Collection and retention of up-to-date records including leases, applications, move in/out reports, and all correspondence concerning tenants.
• Provide a system of reminders, concerning lease expiration and rent review dates, necessary for renewals to keep up with the current rental market.
• Collection, safe keeping and processing of returns of tenants security deposits, required by law.
• Control and payment of invoices necessary for the physical management of the property such as repairs, maintenance contracts, and utilities.
• Retention of up-to-date records of invoices paid, inspection reports, and warranties.

For the Owner we will do the below:

• Supply monthly income and expense reports.
• Monthly, disburse rental income to the over or deposit in a designated bank account.
• Ensure property is well-maintained.