It is as close as you can get to managing a property yourself, without doing it yourself. In the words of another property manager, who asked or remain anonymous, "It is the way property management should be done."
We have been in, and for some of us are still in, your shoes and we know the feeling of the manager working against you instead of for you. The main reason for these problems is the way other companies charge. By paying the manager a percentage of rent, once the rent is paid they have earned their full fee even though they may have only done a fraction of the work to manage a property the right way. With our program, collecting the rent is only a fraction of what we have to do to make our money.
Whether the rent is $800 or $8,000 it generally takes the same amount of time and effort to perform the monthly basics so we charge exactly the same for each property for the basics regardless of the rent amount. If we have to do more than the basics such as supervise repairs or maintenance, we are paid based on the amount of time needed to supervise. We don't up-charge by a certain percentage for repairs, have a maintenance staff for making extra money off of you, or receive kick backs from repair companies for using their services. We have to be engaged in the active supervision and management of your property for us to make any more. Click here to see the rates.
JTA doesn't make you sign a long term management agreement.
JTA doesn't feel like you should have to stay with a property manager just because you have a long term contract. We feel you should want to stay because we are the best and you are completely satisfied with our service. To terminate All you have to do is give us a 30 day written notice for occupied units or 14 day notice for vacant units, pay for any services rendered before completion of the notice period, and that is it.
JTA's general schedule of fees:
Whether the rent is $1,000 or $10,000, it generally takes the same amount of time and effort to perform the monthly basics. Therefore, we charge exactly the same for the basics regardless of the rent amount.
Our fixed fee for the basic services:
Basic service includes:
If your property needs any more than the basics, we only charge for the amount of time to supervise the repairs. This does not mean that every time we pick up the phone for a nagging resident. Again, we are also owners so we know what is legitimate and what is not. We also have complete transparency so every time charge is tied to either a legitimate maintenance item or a request from you, the owner.
All work orders are posted to your secure access area. You will see there is no % added by us to the cost of the repair and we don't have maintenance on staff where we are making additional money off of you. Our online tracking system is custom built so you will see every single activity that happens and you see exactly what is done for every dollar you pay. You no longer wonder what you are paying for and if you are paying too much. Time is billed to the minute and is always available online so you can sort charges by date, amount, finished or pending, work order, etc. We show you everything we do so you know we are really working for you and we are getting things done.
Time Rates:
For activities performed (or that can be performed) by an Assistant Manager: $75.00/hour
These activities include move-out inspections, coordination of minor repairs, checking of minor repairs, meeting appraisers, move-in inspections, meeting insurance inspectors, meeting utility representatives, meeting vendors, requested drive-by or interior inspections with photos, reviewing bids, etc. These are items that do not require an in-depth knowledge of construction or mechanical systems.
For activities performed by a Property Manager: $95.00/hour
These activities include coordination of insurance claim repairs with owner, resident, insurance company, and general contractor; supervision of roof replacement and repair, HVAC replacement, heavy construction or remodeling, structural repairs, etc. These are the items that require a more in-depth knowledge of construction or mechanical systems.
Administrative Set Up:
Because JTA's program is technologically advanced in our interactions with owners, residents, prospective residents, there are approximately 80 tasks performed to get all aspects of the property and systems set up. These systems ensure you receive accurate reporting every month, you can check on our activities at any time, and that you receive all the notifications when an activity happens on your account. This is a one-time fee. We don't charge it annually or any time we make improvements to our reporting system.
1st unit at a property: $250.00
Each additional unit at a property: $35.00
JTA offers leasing for management and non-management clients. Whether you are a management or a leasing only client we will perform the full set-up process. Our leasing fee is structured similar to traditional methods because it is a sales activity. All labor required to lease a rental is included in the leasing fee. The cost of advertising is passed through.
Leasing Fee (1 time per lease): ½ the contracted monthly rent with a 12 month lease.
If the lease is less than 12 months we will pro-rate it down to a minimum of $300.00. If it is more than 12 months we will pro-rate it up.
The leasing fee includes the labor for:
Renewal or extension of lease (1 time per renewal or extension): 1/4 of the contracted monthly rent with a 12 month lease. If the lease is less than 12 months we will pro-rate it down and If it is more than 12 months we will pro-rate it up.
JTA Leasing Guarantee
In any event where the resident has not fulfilled at least half of his financial lease obligation, we will lease the property again with no leasing charge. If the resident fulfills more than half of his financial lease obligation, we will credit you the prorated leasing fee for the months he did pay.
JTA's Guarantees that mean something:
Our guarantees are more than some touchy-feely sayings. They mean something because we put our money where our mouth is.
Owner rewards program for referrals:
Are you so happy with our service that you just can't help but tell all of your friends, family, co-workers, and fellow investors? If so, then it pays to tell them about JTA. If you help us sign up a new owner, we'll send you a $50.00 Visa Gift Card for each property the new owner puts under our management. All you have to do is tell them to put your name on the management agreement when they sign it and send it back. You will then receive the gift card in the mail within the next two weeks. It's that simple!
Over the years we have found many things to be true. One thing we have always found is that an ounce of prevention is worth a pound of cure. This is why we require the following safety and operating measures be taken with each property: