Full Service Commercial Property Management
FEE: 5 % of rent (excluding CAC)
PEKA'S COMMERCIAL Management FEE INCLUDES:
- Delivery of common area cost (CAC) budget and collection of CAC with final accounting and reconciliation on a yearly basis.
- Collection of rent and CAC each month. Rent and CAC is deposited and held in a Trust Account. A monthly statement of income and expenditures is issued, along with a Trust cheque for the amount due the owner. If requested, this cheque can be deposited to a specific bank account. Every reasonable effort is made to issue all cheques and statements to the owner by the 10th of each month.
- Ensuring that the Lessee is aware of all rules and regulations affecting the property, including condominium use and occupancy restrictions and advising both the owner and the Lessee of the provisions of the Condo Property Act when and where necessary.
- Pursuing delinquent rents promptly and advising owner if, and when, legal action is necessary in collection of overdue rents.
- Maintaining records relating to the property on file at PEKA's office. These records may be inspected during regular business hours upon 24 hours notice to PEKA. Annual income and expenditure statements for the previous year are issued along with January statement.
- Immediate attention to emergencies and timely attention to complaints, as outlined in the Agreement between the owner and PEKA. Receipts for all work are kept on file in PEKA'S offices.
- Advising the owner of major maintenance needs of the property and of any major expenditures which may be required to meet legal and/or safety standards.
- Twenty-four hour availability for emergencies and convenient office hours for all other business.
- Advising Lessees of their responsibilities for utility accounts relative to the beginning or end of their leases.
- Completion of accommodation inspection report on the property with a departing Lessee. Returning the security deposit along with any interest earned, less any chargeable damages to the Lessee within the legal time frames.
COSTS NOT INCLUDED IN THE RESIDENTIAL MANAGEMENT FEE:
- Legal Fees
- Audit Fees