Services
Maestri-Murrell’s Property Management Division is rapidly becoming the largest and most successful fee management agent in Louisiana. At Maestri-Murrell our team of professionals is committed to providing outstanding property management services, while increasing value to your real estate investment.
Maestri-Murrell Property Management stays abreast of the market and changing trends to continually surpass client expectations. We believe that training, technology and being in the industry provide us with the tools necessary to successfully market, lease, and manage your asset.
Management Services:
- Hire and supervise staff at the property locations
- Maintain and promote a clean and professional curb appeal
- Interview, bid services and hire all vendors and replace when necessary
- Prepare and provide Weekly Occupancy Reports
- Prepare and provide Annual Operating Budgets
- Prepare and provide Annual Reports required by the mortgagee or lending source
- Request release of Reserve for Replacement payments from the lending source to the properties
- Negotiate, bid and continue reassessment of the taxes and insurance
- Oversee legal litigation suits and property insurance claims
- Attend formal hearings with the Department of Labor regarding labor disputes
- Handle all compliance reporting and agency inspections
- Check for file completion and accuracy
- Meet certification and license requirements
- Implementation of new policies, procedures and laws dictating policy for the industry
- Conduct management reviews and audits
- Distribute and post all license, labor requirements, fair housing and safety posters
Marketing:
- Determine target market and comparables
- Prepare and provide quarterly market surveys, pictures and recommendations for rent adjustments
- Solicit professional shoppers and provide shopping reports
- Evaluate current advertising, make recommendations and changes if necessary
- Internal referrals of traffic form their properties
- Increase leasing exposure by using home office referrals
- Train leasing consultants on the following:
- Fair housing
- Effective marketing campaigns
- Resident qualifying and approval of application
- Final screening once the application is approved
- Orientation of the complete rental process to include all forms Related to leasing the property
- Move-In and move-out procedures
- Additional training, based on any programs attached to the property Section 8, Tax Credits,Tax Exempt Bonds, and HOME Program
Accounting:
- Establish and maintain bank accounts (Security & Rental Trust)
- Balance and reconcile bank statements (Security, Rental & Trustee)
- Record rent & receivables
- Handle all accounts payable
- Produce monthly financials to include the following reports:
– Balance sheet
– Budget comparison report
– Income statement
– AP aged trial balance
– AP expense distribution
– Reconciled bank statements
– Gross potential rent report
– Cash journal
– Activity reconciliation report
– Detailed rent roll report
– Delinquency / aging report
– Lease expiration report - Handle All occupational license renewal
- Complete all year-end reporting and prepare 1099’s
- Process all security deposit forfeits and refunds
- Assist auditors when annually
HUD Services:
We specialize in helping to get your HUD loan approved and successfully managing your property by
meeting all HUD guidelines. Prepare and transmit loan packages for 221 (d) 4 loans.
To include:
- Affirmative Fair Housing marketing Plan HUD 935.2A
- Project Owner’s Agents Certification HUD 9839-B
- Management Entity Profile HUD 9832
- Previous Participation HUD 2530 (REAC Submission only)
- Assist with HUD negotiations and approvals, consulting with HUD and the client, scheduling the necessary meetings.
- Recommend HUD approved audits for cost certifications and annual audits.
- Prepare and implement HUD approved work out plans
- Assist clients with getting any surplus cash released from the escrow accounts monitored by HUD
- Prepare property and staff for HUD annual audits
- Operate properties successfully under the HUD guidelines