SHOR Real Estate, Inc. manages several properties for Landlords/Developers and handles each type of property differently. For those that we manage fully, we collect the rents and expense reimbursables and pay all bills, we use Yardi for accounting of those services. In addition, we use that software in determing the year end results as it relates to expenses, reimbursables and undercharges or overpayments of the common area accounts. For these “full service” management services we charge a fee of between two (2%) percent and four (4%) percent of the gross revenue and in some cases, that amount is charged back to the project resulting in little or no cost to the property owner.
In some cases we just “keep and eye out” on the project for the Owner. The Owner collects all the rents and pay all of the bills. We visit the property 2 to 4 times a month to make sure all of the contract services are being completed properly, in a timely fashion and to check on the tenants and a general “checking into”. The cost of these services various depending on a lot of factors but generally run $500 to $1,000 per month.
Our philosophy on Property Management is that we are here to serve the owner and their property so we tailor our Management Services to fit the need of that owner. Each Owner has different capabilities and we are here to be of the best and most professional service to them.