Services

• Conduct building inspections and review property conditions
• Provide a preventative maintenance program
• Hire and supervise on-site personnel or subcontractors
• Obtain bids and purchase supplies required
• Review of insurance coverage
• Establish and maintain a billing and collection system
• Establish and maintain a resale/rental/sublet screening system
• Establish and maintain a violation notification system
• Respond promptly to all service requests or emergencies
• Maintain a 24 hour, 7 days/week emergency service
• Provide guidance and recommendations to the Board
• Assist in the resolution of unit owners’ disputes
• Guide the Board in promulgation of rules and regulations
• Enforcement of House Rules
• Assist with obtaining certificate of occupancy
• Comply with building codes and ordinances
• Comply with landmark requirements
• Experienced with H.D.F.C. buildings
• Preparation of annual meeting notices and required forms
• Preparation of monthly management report
• Attendance at monthly Board meetings and special meetings
• Obtain quotes for major and minor repairs and improvements
• Coordination and preparation of annual and special meetings
• Daily deposit of funds
• Manage and maintain website where owners and shareholders can obtain building documents 24/7
• Real estate tax abatement
• Submit filings

• Prepare yearly budget
• Work with accountant to prepare and file year-end financial reports
• Provide the Board with monthly financial statements which includes:
  • Balance sheet
  • Revenues and check listing
  • Accounts Payable
  • Delinquency follow-up
  • Comparison with actual budget
  • Cash disbursements
  • Delinquency list and report
  • Operating Statement
  • Income Distribution Report
  • General Ledger
• Process all payable accounts as follows:
  • Payment of invoices, including verification of all receipts and amounts
  • Preparation of checks and mailing to vendors
  • Maintain accounts payable files
• Reconcile and balance all monthly bank statements
• E-billing and ACH payments
• Collect maintenance, common charges, and rents
• Payroll
• Process and deposit all maintenance and special assessment payments
• Process all late payments including late fees, liens, and foreclosures accounting to the Association policy
• Oversee all delinquencies in the appropriate manner
• Real Estate Tax protest and filing

Property Marketing

• Guidance on market trends from us and our cooperating brokers
• Digital and Traditional marketing for sales and rentals

Residential Screening & Evaluation

• Application processing
• Computerized reference checks, including Equifax credit check and employment background/income verification checks for all prospective tenants
• Landlord reference screening

Supervision of Maintenance

• Training and supervision of staff
• Prompt attention to all maintenance issues
• 24-hour live answering service for after-hours emergency issues
• Assure that all vendors are licensed and insured

Account Administration

• Timely payment of all approved expenses, including but not limited to invoices, mortgages, insurance, and property taxes based upon cash flow
• Computerized monthly financial statements
• Year-end reports and 1099’s
• Market evaluation and rent increase recommendations
• Security deposit collections and refunds

Tenant Management

• Effective rent collection and enforcement of late charges/interest when applicable
• Move-In and Move-Out inspections (Rental Unit Condition Reports)
• Enforcement of building rules
• Periodic drive-by inspections and annual property inspections
• Procure legal services for evictions

Farhat Realty Management has a demonstrated a record of success in the commercial real estate industry. Working closely with owners, we provide hands-on commercial property management services to maintain the financial success of your investment. The following is a list of Commercial Property Management Services we provide:

• Negotiate leases & renewals to obtain the best possible prices
• Bill & collect tenant rent
• Arrange for payment of all operating expenses after obtaining owner’s approval
• Arrange for and review property insurance
• Oversee owner-approved renovations and upgrades to the property
• Coordinate and supervise service contracts/trade work at the property
• Attend to emergency issues
• Provide detailed monthly accounting statements to the owner
• Report on / review with owner any necessary capital repairs
• Prepare annual budgets

• Market, rent and sell apartments or commercial properties WITH OUR COOPERATING BROKERS AT NO ADDITIONAL COST TO OUR CLIENTS
• Make use of the latest digital platforms to promote properties
• Diligently research the most efficient and appropriate prices to reduce vacancies
• Investigate all residents and tenants to ensure they’re financially viable for the space
• Distribute renewal offers with 100 days’ notice
• Negotiate rent to meet today’s market prices
• Manage the entire onboarding process