Residential Management & Apartment Rentals
The Copley Group currently manages over 1,000 residential apartments in the Greater Boston area: the Fenway, Back Bay, Beacon Hill, Brookline, Chestnut Hill and Newton. Our expertise in this area comes from experience managing our own real estate investments since 1965.
Our residential management team is trained to evaluate and understand the inner workings and operational system of each property. Our maintenance operation is on call 24/7 and includes a spare parts warehouse, in-city maintenance operation and a resource network of skilled service professionals.
Some of the other tools we use to ensure smooth operations of our managed properties include:
• Lockbox service and Direct Debit for efficient income processing
• After-hours live answering service
• Heat Timer technology to allow for remote monitoring and control of building heating systems
• Experienced in-house leasing agent offering no-fee apartment rentals
The Copley Group's responsive property management system results in higher occupancy rates, satisfied residents, high resident retention, and increased real estate values.
At The Copley Group, we are guided by a management philosophy that emphasizes proactive strategy, realistic goal setting, and teamwork. Our experienced managers are empowered to blend creativity with time-tested management methods. Customized service for each client is our priority.
The Copley Group has owned and managed commercial property since 1965. When undertaking a new management assignment, our first priority is to access the owner's objective for their property.
Our experience has included maintaining buildings through economic slowdowns, positioning properties for sale and developing or redeveloping properties.
Our commercial property management team will:
• Develop or enhance the operating budget
• Initiate or renegotiate vendor and construction contracts
• Negotiate new and renewal leases
• Supervise build-outs
• Direct collection activity
• Develop short and long-term capital improvement plans
• Position property for redevelopment
At The Copley Group, we are guided by a management philosophy that emphasizes proactive strategies, realistic goal setting, and teamwork. Our experienced managers are empowered to blend creativity with time-tested management methods. Customized service for each client is our priority.
The following is an outline of the services available from The Copley Group. Unless otherwise specifically noted, these services are included in the negotiated management fee.
• Create a continuing building, grounds and preventive maintenance program
• Manage outside contractors
• Implement a five year capital replacement program
• Provide 24 hour emergency service as back up to site staff
• Obtain or create contracts for all necessary goods and services
• Inspect the property regularly for defects and improvements and notify the Association of recommended improvements
• Utilize bulk buying power and competitive bidding to obtain optimal pricing for supplies, equipment and services.
• Prepare an annual operating and capital budget including a five year plan
• Prepare monthly and annual financial statements. Monthly reporting includes a statement of income and expense compared to budget, accounts receivable aging, accounts payable aging and schedule of disbursements. Monthly reporting packages can be tailored to the needs of the individual Association and financial statements can be transmitted via e-mail.
• Maintain segregated bank accounts for all Association activity. No funds are co-mingled with other properties or Associations
• Coordinate preparation and filing of Federal and State tax returns for the Association
• Provide a business address for all bills and receipts
• Billing and collection of all Association fees and monitoring of delinquency
• Pay all approved bills
• The Copley Group is insured by a $2.5 million Fidelity Bond
• Chief Financial Officer, CPA, oversees all financial and accounting services
STAFFING AND BENEFITS
• Identification of on site staffing needs, if any
• Hiring, training, supervision and termination of on site staff
• Payroll service, health and dental benefits, 401(k) plan, workers' compensation, group life insurance for eligible on site staff
• Training programs for on site Property Managers
• Act as project manager to supervise major repairs and improvements. This service which is at an additional fee includes development of project scope, coordination with Architects and Engineers, bidding, contracting, project oversight, contract management and communications with the Association
• Maintain up to date association records to include all condominium documents, correspondence, contacts, insurance, financial records, and maintenance records
• Monitor the rules and regulations of the property, report violations and assist Trustees with enforcement
• Correspond with unit owners, tenants, vendors, governmental officials and other related entities
• Maintain a resident roster and/or rent roll and update as required
• Assist in the creation and release of new unit owner packages
• Attend monthly Trustee meetings
• Attend annual Association meetings
• Obtain and register all necessary Association documentation
• Provide for the distribution of meeting minutes
• Provide monthly written management reports and action lists
• Solicitation of bids from qualified agents and carriers annually for the renewal of the master insurance policy
• Reporting, oversight and administration of insurance claims (additional fee)