At KVA Property Management we work closely with our clients to develop accounting programs that focus on cost-efficient operations and tenant relations that meet the specific needs of each owner. By delivering these programs at the highest level of responsiveness and economy, KVA has been able to enhance property value over the investment term for its clients. Our accounting procedures provide complete, accurate records to track every income and expense that occurs on your property from day-to-day operations to year-end reporting.
- Monthly statements provide an itemized record of all transactions.
- End-of-year statement simplifies the task of tax preparation for you and your accountant.
- Reporting Assistance on Local, State and Federal Levels.
- Monthly, Year-to-date and Year-end Reports
- Payment Processing
- Distribution of funds
At KVA Property Management we measure success based upon the quantifiable impact we have on our client’s investments. Our strength is the ability to perceive and interpret client’s needs quickly, create a partnering alliance with them to provide professional management and timely solutions for our client’s properties and investments. Our management policies are based on proven best practice methodology and include:
Each owner establishes a trust account with KVA Property Management, which will be used to cover disbursement and expenses necessary to the management of your property.
In addition to your normal Fire and Extended Coverage insurance policy, owners will maintain an “Owner, Landlord, and Tenant” (OL&T) liability policy as well. This coverage protects the tenant, you, and us against a wide range of losses caused by unavoidable hazards. Copies of your policy, along with the name and phone number of your insurance representative are maintained at KVA to expedite matters should a claim need to be filed.
KVA Property Management utilizes a thorough, accurate record keeping system. Our computer system allows us to provide services that would be difficult or impossible with a conventional accounting system. All invoices and receipts are returned with the monthly statements along with every transaction affecting your account balance recorded and explained in detail. In addition to the monthly statements, KVA Property Management will prepare year-to-date and year-end statements so you are always fully informed on your investment status. As required by Internal Revenue Service regulations, KVA will prepare and submit a 1099 MISC form showing the total gross rent income that we collect on your behalf during the year and copy this information for your records and personal accounting.
All rent is due on the 1st and is considered late if received after the 3rd of the month. Late notices are sent on the 4th and removal proceedings are initiated if the tenant does not make immediate arrangements for rent payment, late fees, and penalties.
As an additional protection, appropriate security deposits are always collected upon signing with the prospective tenant. The amount of deposit is based on the rental rate and the credit worthiness of the applicant. All security deposits are kept in a special escrow ledger account until they either are refunded to the tenant upon the move-out inspection or are forfeited to cover damages caused by lease violations.
Our monthly management fee is payable when the rent payment is received and is automatically deducted from your account at the time the rent payment is posted.
Cost related to the acquisition of a new tenant is based on a percentage of the rent and is paid directly to the leasing agent within 10 days of move-in.
You have a valued partner with KVA Property Management. Our goal is to return the highest market value with the least amount of vacancy time for your investment. Vacancies are lost income so your property is given every means of exposure to the market as soon as possible. We have extensive experience in all aspects of listing and marketing properties across multiple industries and property types from Commercial or Industrial to Multifamily and Residential.
All available properties are listed in the Flick Report and Business Journal, which are distributed throughout the leasing community. Leasing documents detail all pertinent amenities of the property, locations, contacts and information on desired lease terms. KVA Property Management also maintains available listings on our web site along with downloadable information on each property to decrease vacancy time and maximize your investment returns.
- Available Signage Posted
- Property Showings
- Market Analysis and Research
- Property Specific and General Newspaper Advertisements
- Direct Mail and Newsletters to Leasing Agencies
When a prospective tenant is identified, KVA will screen and interview the tenant to be sure that they meet your objectives and criteria. A thorough credit and reference check is performed assuring you of a qualified and financially responsible tenant, which would include verification of past and present employers and landlords. Depending on the type of property, a retail credit report would be requested through the TRW Credimatic System.
When approved, KVA will present a lease agreement and thoroughly explain the benefits and responsibilities of leasing property through KVA Property Management so that all aspects are identified and agreed upon. The lease, security deposit and rent are finalized and the property is released for occupancy. Throughout the process, our focus is to enhance the value of your property and to professionally represent you in all aspects of tenant relationships.
- Rent collection
- Tenant Contact
- Emergency Response
- Property Inspections
- Maintenance and Repairs
We are maintenance experts. Since we deal with this daily we know what repairs should cost and how long they will take to complete. Our supply of qualified, reasonably priced subcontractors will get the job done right. KVA Property Management works only with service contractors who will arrange an appointment within 24 hours and the large volume of work we manage allows us the necessary recourse to assure the highest professional performance.
When the project requires ongoing management or is large in scope, as in a commercial tenant finish out, we manage the work through our General Contracting Division – Echelon Contracting Services, LLC. Experts in all forms of construction, Echelon Contracting Services, LLC is a valuable asset to KVA Property Management and to our property owners who entrust to us the total management of their investments.
We also try to prevent costly repairs through routine preventive maintenance, an example is a twice a year air conditioning check up and filter replacement which is arranged at a reduced cost. Routine repair and maintenance will be performed as required by the lease contract. For any major expense, we will obtain written estimates from several different companies and notify you before we proceed. Naturally, we protect the value of your investment by maintaining your property at or above competitive standards.