New Client Packet
We have put together a short HOA New Client Welcome presentation to help you become more familiar with us and our management style. We try to make the transfer of management as seamless and painless as possible. Organization is the key. This packet of forms will help us and you to achieve a smooth and orderly transition from current management to us.
- New Owner Checklist
- Property Management Agreement (Request an agreement.)
- Client Information Sheet
- W-9 (Request for Social Security Number)
- Lead Paint Disclosure
- Notice of Additional Insured
- Additional Services
New Owner Checklist
We have developed a New Owner Checklist that helps our owners understand the information and activities that are to be expected when bringing a property under Full Service's management. In addition to the checklist, we have several other forms that provide information we need and also satisfy certain legal requirements.
Property Management Agreement
The Property Management Agreement is the most important document in the list. It is essentially a limited power of attorney that allows Full Service Property Management to conduct business concerning a property or properties on the owner's behalf. It is the controlling document and basis of our client-owner relationship. We can get started with a new portfolio based on a verbal promise, but legally our hands our tied until we receive this signed document in our office. Without the management agreement we can write an ad and take pictues of the property, but we can't (and won't) advertise it or show it.
Please contact us to request a management agreement.
Client Information Sheet
The Client Information Sheet gives us valuable information on the property and helps us in setting up the property and its units (if multi-family property) in our management system. It includes items like contact information, tenant information (when the property is occupied), and utilities. Utilities are really a headache for us -- especially the water -- because of the sheer number of them and the fact they all have their own way of doing things. Oftentimes the owner/landlord must contact each utility separately to inform them it is OK to talk to us. Once that task is accomplished we can attend to the rest.
The W-9 gives us the ubiquitous social security number of the property owner that the IRS requires from us. In January of every year we issue each of our portfolios a 1099 based on the social security number (or federal tax ID number) given on the W-9, and report that income to the IRS. (We also provide our owners a corresponding summary of expenses which they can use to offset that income!)
Lead Paint Disclosure
The Lead Paint Disclsoure form is only required for properties built before 1978. (However, we like to play it safe and have Lead Paint Disclosures on file for all properties we manage that were built prior to 1981.
This form discloses to all future occupants of the property that there may be lead-based paint present. If the owner has direct knowledge of the presence of lead paint, or reports showing there is lead paint then he/she is required to disclose it. However, (and we are not lawyers here, so consult with your own before taking our word for it!), "thinking" your property "may" have lead paint because it was built in 1945 is NOT the same as actually knowing or having reports. For all you know, someone before you already came in and scraped the lead paint clean. For this reason we suggest to our clients to mark off "No knowledge" on the form. Again, though, consult with your attorney.
Notice of Additional Insured
When the Notice of Additional Insured is signed by the owner it permits us to be added to the policy as an additional named insured. It does not cost anyone any extra money and provides additional insurance.
New Client Checklist
We put this new client checklist together to help owners with the transfer of property management to us. It is simply a reminder list to help those owners who work well with reminder lists!
Utility Company Instructions
Transferring utility company accounts is a sometimes tedious, but always important, task. Setting up the billing correctly is a detail we pay particular attention to. This form insures we get it right the first time!
Full Service Property Management offers a full suite of additional services available only to our clients to help maintain the asset value of their investments. Many of these services are available on a subscription basis, as well as one-time. Inquire for more information.
As a general rule, when taking on a new, occupied property, we look for 4 things from the owner or previous manager —
- move–in checklist
- security deposit
We legally cannot hold a security deposit without a move–in checklist, so that is usually the first order of business — get that checklist! Owners can transfer the seucrity deposit to us with ease by using the owner portal on our website after we set them up with their own personal account.
Feel free to contact us if you are looking to transfer management to a new property manager for your rental property. We are rapidly growing and are used to making this transition as seamless as possible.