Wave Property Service | Services
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Services

Property Management “A La Carte”

At Wave Property Service we have developed a three options for landlords to choose from when it comes to property management “subscriptions”. Think of our services as “a la carte”. We also offer large property renovations.

Option 1

  • $25 per unit per month-covers a 24 hour general maintenance hotline for your units.
  • We will field all maintenance calls from tenants and assign them to our staff.
  • These calls will be evaluated and fixed (see 3 step process above).
  • If the evaluation comes back and the cost to fix it is below $300.00, we will automatically fix the issue and charge the owner.
  • If the evaluation of the work order is over $300.00 a request will then be given to the owner. Once an approval is given to fix the issue from the owner then we will fix the request and the owner will be charged. (All bills need to be paid within 3-5 days)
  • Basic work request are as follows:
    • clogged toilet/shower
    • chirping smoke detector
    • broken blinds
    • leaks under sinks/faucets
    • broken light fixture
  • This type of work is $50/hr and does not require a licensed professional.
  • More serious work orders order that require a licensed professional such as a plumber, electrician will be $75/hr.
  • All problems will be photographed before and after and kept on record.

Option 2

  • This option is all inclusive of Option 1.
  • This option has a 5% (of monthly rental price per unit) fee.

Additionally, Option 2 includes:

  • Collection of rent
  • All rent collected will be made payable to Wave Management and sub sequentially, Wave Management will then cut checks to owners.
  • General monthly cleaning of hallways and property
  • This will include lease ups and rental of empty units for no charge to owner (all units will be rented under Wave Management).
    • Run credit and eviction checks on all potential tenants
    • Draft leases with all new tenants once approved
    • Take care of all lease renewals for existing clients.
    • All tenants are required to give a 45 day notice when not renewing a lease.

Option 3

  • Inclusive of Option 1 and 2.
  • This option has a 10% (of monthly rental price, per unit) fee.

Additionally, Option 3 includes:

  • Budget plan for renovations or turnovers
  • All bills will be paid through Wave Management, such as:
    • Public meters
    • Any gas bill associated with laundry or heat
    • Property Insurance
    • Taxes
    • Any other bill incurred while managing
  • This type of work is $50/hr and does not require a licensed professional.
  • More serious work orders order that require a licensed professional such as a plumber, electrician will be $75/hr.
  • All problems will be photographed before and after and kept on record.

“A La Carte” Options

All of these options will be assed with onsite viewings per service request and are available in options 1 through 3.

  • Snow Removal
  • Trash Pick Up
  • Exterminations
  • Landscape
  • Rehabs
  • Budget Plan
  • Rental turnovers

Pricing

Handy Men

Used for majority of work where a licensed professional does not need to be on site

  • $50/hr

Electrician or Plumber

  • $75/hr

Emergency Calls

  • $100 to show up
  • $75/hr there after
  • Staff will be on call every night for emergency service calls from 8pm-6am

Court Costs

ISD

  • $300 (between 2-5 appearances)

Evictions

  • $100 + attorney fees

Rentals

Market

  • FREE (credit checks & eviction checks)

Section 8

  • $50 (eviction checks)

Big Ticket Items

  • Water tank Installation and removal w/ an 80 gallon Rheem tank and 2 year warranty. ($590.00 + 175 install) $765.00
  • Toilet, American standard, low water usage, ($223.00 +150 install) $373.00
  • Dishwasher, install and removal, GE stainless steal w/ steam cleaning ($539.00+ 125) Price may vary depending on product $664.00
  • Heat system, assess and replace thermal coupling, ($12.00+ 75.00) $87.00
  • Windows, American craftsman, single hung, vinyl window ($143.00+75.00) $218.00
  • Lock/ door replacement, Steven and Sons, 6 panel white steel entry door ($184.00 + 75.00) $259.00
  • Garbage disposal, Insink disposal w/ HP flow system ($99.96 +105) $205.00
  • Snow and Salt Removal (3-5 inches) $45.00

All material prices are based on standard pricing from homedepot.com

Prices above might change if product varies per owners request.

Labor cost will stay the same

You are getting Wave craftsmanship at a wholesale price (no increase

on material purchases)

Condo Management

Because Condominium Associations vary in many different ways, here at Wave we do not put a particular price tag on this. We price every association differently depending on,

 

  1. Number units currently in condo association, residential and commercial
  2. Number of owners in condo association
  3. Number of allowable rental units

With these three items answered we can give you a better idea on pricing. However, Wave Capital Management is prepared and has the capabilities to immediately manage both the day-to-day, midterm and long term projects associated with the condo association. Are internal expertise, along with trusted sub contractors, coupled with our strategic partners, allows us to offer aggressive pricing while maintaining a high level of expertise. If your condo association is small or large Wave is ready for anything. Please feel free to contact us for a no cost assessment of your building and needs as a condo association.

Service & Maintenance Call Protocol

At Wave Management we have a basic three -step process when addressing service/maintenance calls.

Our process is strictly followed regardless of the size or complexity of the maintenance call.

Step 1: Evaluate the work request in a timely manner

  • Within 4 hours of submission during working hours; 8am-6pm unless is it an emergency.

Step 2: Fix work orders within 3 days.

  • Unless it requires an in depth solution. Examples: heating systems/cooling systems, leaks within walls, ect.
  • Work orders such as small leaks, and general maintenance will be completed within 3 days.

Step 3: Once work is completed, tenants must confirm so.

  • Tenants must respond via email or phone on whether the issue was fixed.
  • Tenant’s response will be documented and saved.

We have found that addressing work orders in a timely fashion and respecting the tenants while doing so cuts down on future issues and will allow the landlord to justify rent increases in the future. When work orders do not get fixed in a timely fashion, your tenancy turnover rate becomes high and can lead to vacancy. Cash flow can deplete rapidly.