ONLINE PAYMENT SERVICES
As part of our comprehensive property management services, we utilize online payment systems to offer tenants convenient and reliable payment options. This not only helps ensure timely rent collection but also streamline processing for greater efficiency. It’s one of the many tools we use to support our clients and their properties—because we’re committed to handling every detail and making property ownership truly hassle-free
Ongoing General Maintenance
The job of continually maintaining physical property is key to the economic success and life of a property. Paramount Realty & Management does not engage in crisis maintenance – fixing only what’s broken. We will provide the following services related to the maintenance of the property:
Maintaining the Property – a program of planned maintenance is developed to lower overall maintenance costs. Routine and emergency maintenance procedures provide the highest level of service and the lowest possible cost to the association.
Preventive Maintenance – we inspect and service equipment and other property components on a rotating basis to protect the association from incurring expected expenses.
Personnel – we employ qualified maintenance technicians who are available on a 24-hour basis.
Contractors – we have an established network of vendors, contractors and suppliers. The volume generated by the extent of our practice allows us to pass on substantive cost-efficiencies to our third-party clients. We have detailed procedures that allow us to manage third-party contracts in the most effective manner possible. We verify the insurance and bond coverages of all contractors prior to authorizing any work.
Owner/Resident Relations
Our service-based philosophy of owner/ resident relations has generated superior results for our clients. Our efforts to encourage positive resident relations and high levels of resident retention include the following:
Resident Policies – each resident receives a booklet detailing company or community policies and procedures. We design our policies, with the owner, to be informative, fair and clear. Each resident understands our policies relating to payment of rent, dues, renewals, guests, and so on.
Problem Solving – we train our staff to confront any resident-related problems – complaints, emergencies, resident abuses, etc. We resolve such situations promptly and efficiently to avoid future problems. Our approach is to consider complaints and problems as opportunities to provide service to our customers.
Value and Economics
Owning property requires a great deal of capital and often a long-term commitment to ownership. Apartment communities are particularly in need of sound financial practices. As property managers, our responsibilities extend beyond operations to the business aspects of association management. Our staff will contribute to the viability of your association by focusing on the following areas:
Income – we continually evaluate income levels, particularly in view of capital requirements.
Expenses – we continually monitor budgets (see below) and track operating expenses to generate all available cost-efficiencies for owners.
Accounting
Paramount Realty & Management uses sophisticated software designed specifically for property management firms to track and process receivables and payables. Our software allows us to be extremely flexible and detailed in our reporting. We have the ability to customize our accounting and reporting according to each client’s needs. We perform the following accounting and financial functions:
Receivables – we collect, process and track payments.
Payables – we receive, track and pay all bills related to the property. We communicate with vendors, mortgage companies, taxing authorities, etc., as needed.
Reporting – we provide owners with concise and timely reports detailing each property’s performance. At year-end we issue Form 1099’s as needed and work with clients’ accountants to assist with tax return preparation.
