For Multi-Family Owners
As an owner of rental property, how do you benefit from retaining Pillar Property Services, LLC?
- You’re given updated information so you can stay aware of the marketplace and how it could affect your property.
- Your revenues will be maximized because we select quality residents who are qualified to rent.
- Your expenses will be minimized using the most detailed budgeting and purchasing management systems in the industry.
- A professionally trained Pillar team member with a wealth of industry knowledge and accreditation will represent you.
- Pillar can turn marketing materials into rent revenue, not just pretty documents.
- Pillar presents an up-to-date, accurate financial picture of your property through the issuance of comprehensive financial statements.
- You can have peace of mind that compliance will be taken care of, no matter how complex.
- You minimize the potential for legal issues arising from applicants, residents, vendors and other key players.
- Your property will be managed consistently, day in and day out, because of our detailed written policies, tested procedures and clear forms.
- Pillar ensures the integrity of your physical assets through systematic and professional maintenance.
What are some of the services Pillar provides to help clients achieve these benefits?
- Pillar works with property owners to determine goals for the property, and the best road map for achieving them.
- Pillar develops marketing materials and a strategic marketing plan to ensure full occupancy.
- Pillar determines the appropriate rental rate to maximize revenue.
- Pillar hires, trains and supervises all on-site management and maintenance personnel.
- Pillar reviews all resident files for compliance with HUD, Section 42 or HOME requirements if it’s an affordable development.
- Pillar completes all of your reporting requirements to lenders, funding agencies, partners and other stakeholders.
- We prepare a detailed annual operating budget, complete with backup documentation.
- Pillar will open and maintain all required bank accounts.
- Pillar will ensure that all debt service, accounts payable and reserve requirements are met.
- Pillar provides monthly financial reporting, including income statements, balance sheets and cash flow statements.
Only in the planning or development phase? The earlier in the process that we are involved, the more likely your property will get financed and operate successfully once it is built. You’ll receive an honest, realistic evaluation based on our years of experience and access to industry resources.
Pillar services provided during the pre-occupancy phase:
- Pillar will review and comment on your initial operating proforma.
- Pillar will review and comment on your site and floor plans.
- We’ll prepare a marketing plan tailored specifically to your property’s needs.
- Pillar will begin the lease-up process well in advance of construction completion, so that you’ll have revenues the day you open.
*Click here to see a sample of the properties we manage.*
For Homeowner Associations
Are you a Homeowners Association that is currently self-managing or unhappy with your current management? Consider the following benefits of our professional management services.
- Pillar can eliminate the need for Board members to be spending their personal time trying to manage an HOA.
- You won’t need to take a crash course on all of the state laws that impact HOAs because we already know them.
- There will be no need to interpret and implement the requirements of your governing documents, including your declarations and bylaws. Pillar will review them and interpret them for you.
- You can eliminate having to personally collect dues and assessments from your neighbors.
- Pillar will protect the physical integrity of the property by helping to plan for long-term capital needs, as well as the reserves that will be required for regular maintenance.
- Pillar will arrange all needed contracted work through our network of vendors and knowledge of procurement procedures.
- Pillar will make sure your common areas are places all homeowners can be proud of, by performing upkeep that will add to your property’s resale value.
- Pillar helps you determine any special assessment needs, and the best methods for collecting them.
- You’ll sleep well at night, knowing you have the correct and current insurance policies for your property.
- Pillar will help you conduct more orderly and professional board meetings by providing assistance with agendas, minutes and direction.
What services do we provide you that achieve these benefits?
- Pillar will work directly with your Board to clearly determine the goals of the Association, and how each goal can be best achieved.
- Pillar will assess your governing documents to determine both the limitations and opportunities you will have.
- Pillar provides 24-7 staff support, because we understand that your needs don’t clock out at 5 p.m.
- Pillar bids for services for your property such as landscaping, snow removal, etc.
- Pillar collects all dues and assessments.
- Pillar helps arrange your master, director and officers’ insurance policies.
- Pillar prepares professional financial statements, including income statements, balance sheets and more.
- Pillar will prepare a detailed annual operating budget, complete with backup documentation.
- Pillar provides communication to the homeowners.
- Pillar prepares lender status letters when owners sell their condos.
*Click here to see a sample of the HOAs currently under Pillar management.*