TOTAL FINANCIAL MANAGEMENT

 

• Prepare and send monthly rent dues invoices for each unit to its tenant, which could include, in addition to the monthly Rent dues, any other charge duly authorized by the contract covenants.

• Perform all collection efforts necessary to ensure payment of all dues to the Owner.

• Receive and process all payments.

• Submit to the owner monthly interim reports detailing the received payments and the aging of all accounts receivable.

• Our effective monitoring and collection process provides stability to the property’s revenue stream by managing its risk and mitigating the losses typically associated with delinquent accounts.  We provide monthly reporting to the owner, detailing the aging of tenant accounts.

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PHYSICAL PROPERTY MAINTENANCE MANAGEMENT

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• Coordinate or provide, according to selected service package, all necessary maintenance services for lawn and landscaping care, security, accounting, legal services, professional recruitment, janitorial services, pest control, waste disposal, and any other required to be provided, with excellent quality and required consistency.

• If any service is to be provided by Richport directly, Richport will provide a detailed proposal for the furnishing of said service for the approval of by the owner.

• Provide third party service proposals for the approval of the owner.

• Prepare all documentation required for the staff that is chosen and recruited to perform operational functions at the property.

• Make all necessary payments for the efficient operation of the property and reporting to the owner all receipts and invoices to justify those expenses.

• Report promptly to the owner any special situation that occurs in the course of the operation. 

• Monitor the performance of any work in the daily operation of maintaining the site and take any actions necessary to implement proper quality levels and expected consistency.

• Visit property regularly and prepare site inspection reports.

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ACCOUNTING SOLUTIONS

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Submit to the Owner accounting reports on all the activities required for the efficient operation of the property, including the following:

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• General Ledger

• Income and Expense Report

• Reconciliation of bank accounts.

• Details of monthly costs, including landscaping, janitorial, waste disposal, security, pest control, accounting, legal services, etc.

• Report of outstanding and / or urgent transactions.

• Annual operating budget preparation and reconciliation to be submitted to the owner.

• Quarterly report on actual spending vs. budget and reasons for the variations.

• Independent Review of Accounting books by an Independent Certified Public Accountant.

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CAPITAL EXPENSES (CONSTRUCTION) AND REPAIR SOLUTIONS

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• Richport will provide the owner with cost effective solutions for any repair or capital expense project that needs undertaking at the property, providing an efficient way to manage extraordinary or emergency work without delay and ensuring that every new project or repair complies with our stellar quality standards.

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