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FREQUEQUENTLY ASKED QUESTIONS
BACKGROUND
How many years have you been in business?
Gabriela the owner and managing broker has been in the business for 10 years and she opened Nex-Gen Real Estate & Property Management Co. in 2020. Gabriela the owner,managing and head community association manager broker has been in the business for 10 years and she opened Nex-Gen Real Estate & Property Management Co. in 2020
What is your Rental & HOA management philosophy or approach?
Our number one goal is to come from a proactive and educational point of view .
How do you handle maintenance and repair?
HOA MANAGEMENT
Proactively walking through common areas.
Schedule regular and predictable maintenance events in advance ie., furnace cleaning, gutter cleaning.
Assign one representative from the board to approve any repairs that need to be done as part of the association’s responsibilities.
Emergency are addressed immediately! Board members are made aware and we address it accordingly.
Safety is 1st!
RENTAL MANAGEMENT
Schedule regular and predictable maintenance events ie., furnace cleaning, gutter cleaning - plan them ahead
Establish a $ cap amount with the owner to make repair decision without the owner
Emergency - IS addressed immediately!
Board members are made aware and we address it accordingly.
Safety is First!
Bigger renovations - we ask for at least 3 bids to ensure our clients get the best rate for the best quality
TECHNOLOGY
Does your service include an online platform?
Yes, Buildium - It is a simple to use property management software that also allows you to keep track of your properties or association's accounting.
Can you explain how your community association management software works?
RENTAL MANAGEMENT
SHARE FINANCIAL REPORTS REAL TIME
Give owners access to profit and loss statements, contributions and draws, and specific transactions you’ve made on behalf of the property. Balance sheets, income statements, and a number of other financial reports are available from any device.
COLLECT PAYMENTS
Owners can send funds and view their transaction history by property, making it easier for them to keep track of their investments, wherever they are.
SHARE IMPORTANT DOCUMENTS
Upload receipts, leases, and other important items to the built-in document sharing system so property owners can access them anytime.
STREAMLINE COMMUNICATION
Use any of our email and mailing templates to send notices to owners, or easily create your own. Prefer physical mail? EZMail automatically prints and sends written documents.
HOA MANAGEMENT
COMMUNICATE EFFECTIVELY WITH HOMEOWNERS, NON-OWNER RESIDENTS, AND BOARD MEMBERS
Automate and track communication with homeowners, non-owner residents, and board members anytime via email, mail, and text. Organize and share unlimited documents, such as by-laws, community financials, and meeting minutes from any device.
FOSTER STRONG COMMUNITY RELATIONSHIPS BETWEEN RESIDENTS
Give your residents easy access to a free, customizable professional portal to pay online, submit maintenance tickets, and communicate with your staff. Help build relationships by offering a resident directory and community discussion board.
LET BOARD MEMBERS HAVEACCESS TO CRITICALASSOCIATION INFORMATION
Manage permissions to financial reports with ease. Access your community association information on demand including by-laws, policies, and meeting minutes. View and track income and expenses, payments, and more.
ELIMINATE HEADACHES WITH AUTOMATED FINANCIAL MANAGEMENT
Give your residents easy access to a free, customizable professional portal to pay online, submit maintenance tickets, and communicate with your staff. Help build relationships by offering a resident directory and community discussion board.
LOG & TRACK VIOLATIONS
Log and track all of your associations’ violations easily and on-the-go via the mobile app. It includes the ability to add custom violation categories and manage permissions for violations for each user role.
RESPONSE TIME
How quickly do you respond to non-emergency inquiries?
We value your requests and commit to responding within 1 business day, backed by our reliable task system
How do you handle emergencies and after hours issues within the community?
All homeowners will be provided with a 24/7 direct cell phone line to the property manager or a designated emergency contact. This allows homeowners to reach out in urgent situations such as water leaks, electrical problems, or security issues outside of regular office hours. The property manager or their team should be prepared to respond promptly to these calls and take appropriate action, such as dispatching maintenance personnel or coordinating with emergency services if needed.
COMMUNICATION
How do you keep the HOA Board and Homeowners informed?
For everyone’s convenience we communicate via:
Announcements on Online Portal
Emails
Mail
SMS
Call
How do you keep the Landlord and Tenants informed?
For everyone’s convenience we communicate via:
Announcements on Online Portal
Emails
Mail
SMS
Call
What is your response time for emails and calls from Board members or Homeowners?
Our goal is to attend as early as possible. We aim to answer all missed calls, voice messages and email before the business day’s end.
What is your response time for emails and calls from Landlord and Tenants?
Our goal is to attend as early as possible. We aim to answer all missed calls, voice messages and email before the business day’s end.
How to file complaints or suggestions?
Homeowners can submit complaints or suggestions through official channels, such as an online form, email, SMS, call or written letter to the HOA board or property manager.
FINANCIAL MANAGEMENT
How do you collect rent from tenants?
We strongly encourage tenants to set up online portal and make payments directly in Buildium via debit/credit card and/or ACH. We do have an option of accepting paper checks.
What is your process for handling late payments and evictions?
Due to many different local ordinances, we make have different solutions based on the city or county.
How do you provide financial reports to property owners?
The online portal provides 24/7 sneak peek to all of our financial reports and more. The owner receives an electronic report at the beginning of the month.
How do you handle the HOA'S financial matters, including budgeting and accounting?
Accounting is logged in our online software real time basis.
Any bills due are to be approved by a designated board member - typically treasurer.
All board members have access to the financials 24/7 via their online login.
Monthly bank reconciliation
Budgeting is finalized at the end of 3rd quarter based on expenses of the current year.
Can you explain your fee structure and any additional costs?
MONTHLY PER DOOR BASE INCLUDES:
Accounting
Technology
Maintenance Supervision
Repair Supervision
Vendor Coordination
Insurance Certificate
Processing Fee
Special Assessment
Coordination
Emergency Response
Tax Preparation
4 Board Meeting Coordination
Late Payments
Compliance Enforcement
Training and Education
Present at Board Meetings 4 times a year
ADDITIONAL SERVICES NOT COVERED BY BASE MONTHLY FEE:
Special Projects
Legal Services Audits
Additional Meeting Services
Architectural Review
Document Preparation
Collection
Insurance Coordination
Reserve Study Planning
Onboarding Fee
Resale Certificate or Transfer Fee
How is financial management handled?
We have a dedicated accounting team that logs income and expenses on a daily basis prepares and generates reports on realtime basis. Additionally Board member of the associations will have access to accounting reports 24/7
How are HOA fees calculated?
Depending on the by-laws HOA fees are usually made up by the percentage of ownership of a homeowner plus the recurring expenses on the budget such us electricity, water and insurance for the common areas
VENDOR AND CONTRACTOR RELATIONSHIPS
How do you select and manage vendors and contractors for maintenance and repairs?
We house an independent contractor that has over 33 years of experience. Before requesting any quotes for work bids from vendors, our team thoroughly reviews vendor information, including references and reviews, to ensure quality and reliability.
INSURANCE AND RISK MANAGEMENT
How do you ensure the HOA is adequately insured?
We ensure the HOA is adequately insured by reviewing governing documents, assessing insurance needs, and conducting risk assessments. We consult insurance brokers, compare quotes, evaluate policy limits, and seek legal advice when needed. Policies are updated periodically, and we prioritize communication with members, risk management, and emergency preparedness. Additionally, we maintain up-to-date Certificates of Insurance for all homeowners.
MARKETING AND VACANCY MANAGEMENT
How do you market vacant properties to attract tenants?
We employ a proactive digital marketing strategy to ensure our properties are prominently featured online, reaching a wide audience of potential renters. Here's how we ensure our properties start with their best foot forward:
DIGITAL MARKETING
We leverage various digital marketing channels, including social media platforms like Facebook and Instagram, as well as online advertising on platforms like Google Ads and Bing Ads. By running targeted campaigns, we can reach potential tenants who are actively searching for rental properties in our area.
ONLINE VISIBILITY
Our listings are not confined to a single website. We understand that most renters search for properties on multiple websites, so we ensure our listings are visible on over 21 different platforms, including popular real estate websites, rental listing websites, and classified ads websites. This extensive online presence increases the chances of our properties being discovered by a wider audience.
PROFESSIONAL PHOTOGRAPHER
We recognize the importance of first impressions. To make sure our listings stand out, we invest in professional photography for all our properties. High-quality images showcase the property's best features, creating an inviting and attractive presentation that entices potential renters.
OPTIMIZED LISTINGS
We take great care in crafting detailed and informative property listings. Each listing is optimized with compelling descriptions, highlighting key features and amenities. This not only helps potential renters better understand the property but also improves search engine visibility, making it easier for renters to find us online. Responsive Online Presence: We maintain a responsive online presence by promptly responding to inquiries and scheduling property viewings. Our online communication ensures a seamless and convenient experience for potential tenants, helping them move through the rental process efficiently.
TENANT SCREENING SELECTION
INCOME VERIFICATION
Importance: Verifying a tenant's income is crucial to ensure they have the financial capacity to meet their monthly rent obligations.
Process: We request pay stubs, employment verification letters, or tax returns to validate a tenant's income. Our goal is to confirm that their income is stable and sufficient to cover rent and other expenses
CREDIT CHECK
Importance: A credit check provides insights into a tenant's financial responsibility and history of meeting financial obligations.
Process: We review the tenant's credit report, looking for any outstanding debts, late payments, or significant financial issues. A good credit history often indicates responsible financial behavior.
DEBT-TO-INCOME RATIO
Importance: Calculating the debt-to-income ratio helps assess whether a tenant can comfortably afford the rent along with their existing debts.
Process: We analyze the tenant's monthly debt obligations (e.g., credit card payments, loans) in relation to their monthly income. A reasonable debt-to-income ratio ensures that the tenant can manage their financial commitments without strain.
BACKGROUND CHECK
Importance: A thorough background check helps identify any criminal history or prior legal issues that could pose a risk to the property or other tenants.
Process: We conduct comprehensive background checks, searching for criminal records, past evictions, and any history of property-related disputes. This helps ensure the safety and security of the property and its residents.
LANDLORD REFERENCE
Importance: Contacting previous landlords provides valuable insights into a tenant's rental history, including their behavior, payment habits, and property upkeep.
Process: We contact former landlords to inquire about the tenant's rental history, including on-time rent payments, property care, and any past issues or concerns. This information helps assess the tenant's suitability.
PERSONAL REFERENCES
Importance: Personal references can provide a broader perspective on a tenant's character and reliability.
Process: We request personal references to gain insights into the tenant's personality, lifestyle, and interpersonal skills. While personal references are not as critical as other checks, they can provide additional context.
COMMUNITY INVOLVEMENT
How do you engage with the community and encourage homeowner participation?
We engage with the community by establishing clear and responsive communication channels, providing regular updates through multiple platforms, and ensuring transparency in all interactions. Regular meetings, consistent outreach, and the use of technology help foster homeowner participation and keep everyone informed and involved.
CONFLICT RESOLUTION
How do you handle conflicts or disputes among homeowners?
We handle conflicts among homeowners by reviewing governing documents, maintaining neutrality, gathering all relevant information, and documenting every step of the process. When needed, we involve the board to ensure fair and effective resolution.
HEAR WHAT OUR CLIENTS WOULD HAVE TO SAY ABOUT OUR SERVICES
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