Our leasing fee is the equivalent of one month’s rent, meaning the first month of rent that we collect for you will pay for our leasing services. It’s a one-time fee that’s paid at the beginning of the lease.
This fee covers everything involved in finding and placing a great resident, including:
Marketing your property
Showing your property
Preparing the property for rent
We’ll also handle the application process and screen each resident thoroughly and in compliance with the fair housing laws.
Once we’ve approved a resident, we’ll take care of:
Collecting the move-in funds
Conducting a move-in inspection of the property to document its condition
Executing the lease agreement
Management Fees in Pittsburgh
Then, you’ll have the monthly management fee, which is typically 9 percent of your monthly rent.
The management fee can differ depending on a few different factors:
How many units the property has
If we will need to employ onsite staff
How many total properties we’re managing for you
How much those homes are earning
The neighborhoods in which those homes are located
Your management fee will come directly out of the rent we collect from the residents. It includes everything that’s covered in our management services, from lease enforcement to inspections to maintenance.
The management fee also covers:
Our resident and vendor communication
Any notices that need to be served
Our accounting and bookkeeping
The portals we provide for residents and owners
Lease Renewal Fees in Pittsburgh
Our final fee is a renewal fee, which is a flat $250 charge that you’ll pay each time we renew a resident.
When you think about the cost of resident turnover and vacancies, it’s easy to see what a value $250 is.
We’ll work hard to retain your residents, and the renewal fee will cover our negotiation and signing of the new lease. It costs you a lot less than it would if you were paying a new leasing fee.
There is no single right way to charge management fees, but the most important thing is that the company you’re working with is transparent and honest.
The last thing you need as an owner and investor is to be surprised by extra charges, and it’s important to review your management agreement before you sign it.
Contact us at Arbors Management if you’d like to know more about our services and their costs. Our Portfolio Managers and Leasing Specialists would be happy to provide a personalized quote that’s based on your property and its unique needs!
By: Nick Griffith, Director of Conventional Housing at Arbors Management
What Exactly Do Property Managers Do?
Today, we’ll be speaking about a very simple question that has a complex answer: What exactly do property managers do? The way we see it here at Arbors Managementis that property management can be broken down into two main categories – leasing and day-to-day management, and two sub-categories – accounting and compliance.
But, just as important as what property managers do, is what we don’t do; we’ll cover that, too.
How Do We Handle Leasing?
An important part of property management is getting your property leased to a quality renter. Here at Arbors, we believe that most problems in real estate investing can be solved by placing the right, high-quality resident into each property. We perform several types of screening in order to accomplish this; criminal, credit, income, landlord, sex-offender, terrorist, and pet screening, just to name a few.
In order for us to attract the best quality residents, we need to properly market your property by highlighting its features as well as pricing it appropriately.
A good property manager will look at the surrounding market and comparables to determine the best price to rent the property quickly while also giving the owner the best return on their money. We also handle all the inquiries and showings of the property, saving you a lot of time and money.
Once the property manager has found a qualified applicant, they should have a rock-solid lease to ensure that the owner is protected. Here at Arbors, we have a completely online lease signing process, making renting from us easy and efficient.
Once the lease is signed, deposits are paid, and move-in is scheduled, a good property manager will perform a move-in inspection to record the condition of the property at the time the resident moves in. We record the inspection with photos that we can reference again later when the resident decides to move out.
Speaking of inspections, routine inspections are important to ensure your property is well maintained. At Arbors, our leasing specialists perform an interim inspection several months prior to the lease expiration to ensure we know the condition of the property prior to renewing the lease. We share that inspection with our clients along with our recommendations so they can make the best decision for them.
Day-to-Day Property Management – What Does it Look Like?
After the property has been leased and the resident has moved in, we turn to our second category of property management: the day-to-day management.
Perhaps one of the most important items a property manager can do is collect the rent. After all, rent is what allows you to maintain the property and make a profit!
At Arbors Management, we provide several ways for residents to pay their rent; through a convenient online portal, by mail, by drop box at our main office, or by electronic cash payment at several convenient-store locations.
Money management is also a very important part of property management. A property manager will need to pay the expenses on your property, oftentimes from the rent that is collected and bill the residents for any appropriate expenses for your reimbursement.
Once all the expenses are paid, the property manager should have a way to get the investor their money. Here at Arbors, we do a direct deposit into your bank account at the end of each month.
Another aspect of property management is working directly with residents. On occasion, residents will have maintenance requests, emergencies, and general questions or problems while living at the property. These could range from leaky plumbing, heating issues, loss of employment, income changes, additions to their family, or neighbor disputes.
A property manager communicates directly with residents to solve these issues so that you don’t have to. Enforcing a lease can be difficult, so it’s the property managers job to walk the line between being compassionate while also enforcing the agreement. A good property manager should bring you solutions, not problems.
Addressing maintenance issues is another important part of property managers’ duty to maintain the value of your asset. Emergencies can happen at any time, day or night, and even on the weekends.
This is why a good property manager needs to have a plan on what to do when an emergency does happen. Here at Arbors we have a 24/7 dedicated phone number for maintenance emergencies and a network of contractors that can respond quickly in order to resolve any issue that might arise.
How Do Accounting and Compliance Come Into Play?
Two other categories of property management are accounting and compliance.
As an investor, you’ll want to see where your money is being spent and when rents are collected by your property manager. At Arbors, we have a full accounting staff that generates reports so that you can easily see the income for your property, expenses, and any invoices or bills associated with those expenses.
Transparency is important, but so is legal compliance! When renting out a property, there are a lot of laws, rules, and regulations that come with it. Your property manager should know the ins and outs of what is needed at the property to ensure you stay in compliance with these requirements to keep you protected. At Arbors, we have a compliance department that makes sure we cross our t’s and dot our i’s to make sure everyone is protected.
So What Don’t We Do as a Property Management Company?
Almost as important as what property managers do, is what we don’t do. From the information above, we can safely say property managers wear many different hats.
Even though we have many different roles, we are not tax professionals, attorneys, or debt collectors. Oftentimes a property manager can recommend a specialist in each of these areas. We may know a thing or two about each of these topics, but your property manager shouldn’t get involved in areas outside their expertise.
All in All…
The answer to the question “what exactly do property managers do?” is complicated. We discussed how a property manager should handle leasing, day-to-day management, and all aspects involved in those two main categories.
We also discussed that property managers should be transparent with your money through good accounting reports and remain compliant by staying up to date with rental property requirements.
While property managers wear many hats, as they should, they are not tax professionals, attorneys, or debt collectors.
Hopefully you now have a better idea of everything that property management encompasses.
If you have any questions about property management and how Arbors Management might help you with your property(ies), please don’t hesitate to reach out to us!
Near the end of every residency, you need to ask yourself whether or not you want to renew your resident’s lease. Today, we’re talking about what you should consider when you’re making this decision. (more…)
At Arbors Management, we believe the best way to avoid the eviction process and troublesome residents is by conducting a strict screening process before a resident even moves in.
Our resident screening process includes a close look at income, criminal histories, and credit histories. We have a rent collection process that works, and if eviction becomes necessary – we have a process for that, too. (more…)
A lot of people who own Pittsburg rental property want to know if they should allow pets into their homes or if they should avoid them. There are a lot of pros and cons to discuss when it comes to welcoming pets into your rental property. (more…)
Working with a professional property management company offers landlords and investors a lot of benefits and advantages. You save time and money, and you reduce the headaches and hassles that often come with owning a rental property. More importantly, you are able to access to experience, tools, and resources that only professional managers can bring to the table. (more…)
Hello, my name is Christopher Wagner and I am the President of Arbors Management. I would like to start out by stating that I am very proud of the team here at Arbors and I know that each and every member strives to do the right thing for our clients and make their experiences with Arbors as pleasant as possible. We are first and foremost a service business, and it is important for me to be able to serve our clients and customers excellently. Although I am not too comfortable talking about only myself, as I prefer to lead by allowing others to grow and reach their full potential, I understand that sometimes my role requires it. After owning several companies dealing in investment properties, developments, and investment loans, I joined Arbors Management in 2007, only expanding on my experiences of over 20 years in the real estate business. I enjoy my job immensely because I truly enjoy seeing growth in others, and in my position I am able to fully support the development of my team; whether this be mentally, emotionally, spiritually, or otherwise. I hold an IST Degree from Penn State, however make great efforts to lead a lifetime of continuous learning. When I am not at work, typically you can find me with my family. I have a fantastic wife, who is my true support in life, and four wonderful children. In addition, I have served in multiple churches in different roles, including as deacon, director of the media team, and various outreach teams. I enjoy giving back as much as possible and make decisions based upon my principles, including the decisions I make in business, how I conduct myself, and the standards to which I hold myself. I am very proud of the dedication and hard work of my entire team here at Arbors Management and I would like to introduce my leadership team to you.
Hello, my name is Trisha Jester and I am the Director of Affordable Housing here at Arbors Management. I started in the property management business 28 years ago and since then have held various positions, including maintenance, assistant manager, site manager, and regional manager. I have been with Arbors Management for 20 years now. Having the opportunity to work in all aspects of the property management field and be a part of the process from start to finish has provided me with the breadth of knowledge that I need for my current position. I obtained my PA RE License in 1994, and have accumulated many hours of training in Fair Housing, Tax Credit Compliance, and Property Management. One of the things that I love most about my job at Arbors is that my team and I are able to help people who are truly in need of finding affordable housing. Together, the team and I manage over 2,450 units in Western PA and West Virginia. I have been married to my husband, Brad for 22 years, and have two sons, one in college and one on his way to college. On the weekends I enjoy road trips with my husband on our motorcycle, as well as gardening, reading, and cooking.
Hello, my name is Nicholas Griffith and I am the Director of Conventional Housing here at Arbors Management, Inc. I’ve been with the company since April of 2016, starting as a Portfolio Manager. Prior to Arbors Management I had experience in leasing and managing a growing portfolio of 300+ single family market rate rental properties. Additionally I also worked in the affordable housing industry as a Certified Occupancy Specialist working on qualifying new residents for move in and various certifications for their residency. During my time here at Arbors I’ve truly enjoyed working with our clients and customers to ensure their satisfaction with our services. Additionally, it’s been my pleasure to work with the dedicated and passionate team we have here at Arbors Management who really care about all the properties, owners, and residents we work with every day. When I’m not breathing all things property management, you can find me enjoying a meal out at one of the many restaurants Pittsburgh has to offer or conversing with friends, drinking a beer, at a local brewery. I play volleyball in Pittsburgh’s Sport League and enjoy spending time with my wife and dog.
Hi, I am Patty Recklitis, and I am Chairman of the Board at Arbors Management. Being in the property management business for more than 30 years, I have watched this industry change and grow in so many fascinating ways. As a committed employee and now Chairman of the Board of Arbors Management, I have been instrumental in shaping this company and developing it into the strong, market leader position it enjoys today.
Buon Giorno! I am Cindy Peterle-Harris, the Director of Compliance here at Arbors Management. Although my degrees are in Political Science and the Italian language, I have been working in the affordable housing field since 1980, and with Arbors Management Inc. since 1995: first as a property manager for a senior complex, then as a regional manager, and as the Director of Compliance since 2010. Although it may seem that my education and my profession are worlds apart, I have used my language skills with residents who have limited English proficiency and used the lessons I learned in international diplomacy to maintain peace among neighbors and co-workers. As Director of Compliance, much of my time is spent in research, in teaching, and in problem resolution. I really enjoy working with the managers and staff of our affordable and conventional properties and helping to provide safe and comfortable housing for seniors and families. When not at the office, my husband and I are very involved with our Church and our combined families. With the recent birth of our 10th grandchild, “Grammy” has become my favorite title!
Hi, I am Michael Recklitis and I am the director of maintenance at Arbors Management and have worked for Arbors Management since 1995. I earned a Bachelor of Science Degree in Education and a Master of Science in Marketing Education from the University of Pittsburgh. My state certification in “Building Trades and Maintenance” allowed me to teach many students, who learned the basics of building repair and hand tool usage. I owned a small HUD subsidized apartment building. This ownership helped teach me about subsidized housing, REAC inspection and the required HUD tenant certification needed to rent those units. My position focuses on the physical condition of the many properties managed by the company. I enjoy working as a team member with building staff and have facilitated many property projects with outside contractors and our property staff. I have worked with PHFA Technical Services to complete needed work at other properties that they are involved in. My many interests have included but are not limited to gardening, amateur radio and going to that occasional Penguin, Steelers or Pirate game with my wife. As a boy, I earned the rank of Eagle Scout which helped teach me values and respect. As part of being a scout, I belonged to “The Order of the Arrow” that is Scouting’s National Honor Society which helped strengthen my faith.
Hello my name is Eric Miles and I am the Vice President of Operations of Arbors Management, Inc. I have been at Arbors since 2015 and have over 25 years of experience in residential, commercial and industrial real estate accounting and controlling specializing in fields such as First Party Management, Finance and Mergers & Acquisitions. I am excited to be a part of such a well-known and respected company as Arbors Management and I am thrilled about the opportunity to earn investment returns for our property owners and shareholders. As Vice President of Operations, I lead the team of Accounting Professionals and together with my team, handle all of the financial responsibility for our entire portfolio, comprising of almost $550M in assets. I currently hold a BSBA in Accounting and a MBA in Finance from Robert Morris University as well as a BS in Real Estate from LaRoche College. In my free time, I enjoy reading and bowling and am often planning my next travel adventure.
Hello, my name is Alex Gurevich and I am the Director of Maintenance here at Arbors Management. I have over 15 years of maintenance experience working in high rise buildings and multi family complexes. I have been with Arbors since January 2019 and really enjoy working with our team. I have extensive background in electrical, HVAC and plumbing. I also enjoy working with electronics and automation, and have a huge passion for building mechanical systems and love troubleshooting problems.