Why does a building need a manager? What is this manager’s role?A building is an involved and intricate enterprise; a good manager, through experience, brings value-added to each of the following, essential spheres of responsibility:
- Structuring the building’s underlying financing
- Managing elevator inspections, boiler repairs, basement pump-outs, façade work, and roof renovations
- Collecting rent, maintenance, and common charges, particularly from chronic late-payers
- Negotiating with contractors about plumbing and electrical systems, as well as liaising with occupants to satisfactorily answer their questions
- Managing building service employees effectively
- Ensuring that apartment renovations proceed in a timely and appropriate manner, while complying with government and building codes
- Keeping books in a lucid and straightforward format for the building’s accountant
- Streamlining tenant move-ins and move-outs to maximize efficiency and minimize disturbances
- Screening potential new occupants, and working adroitly with brokers to bring new tenants or buyers
- Using all these highly specialized and detail-oriented skills, a manager is able to streamline a building’s operations to significantly reduce the burden on tenants and boards of directors, who may lack the time or expertise to effectually carry out these vital, ongoing tasks.
What management services does UPB offer?Below is a list of services that UPB would offer in managing a building. Of course, each building has its unique needs, and we make sure to identify and attend to those requirements. Consequently, the list below is only meant to convey the scale of our involvement while giving typical examples of our services; it is not a definitive itemization.
Financial
- Collect rent, maintenance, and common charges
- Pay bills
- Manage payroll, including tax withholding
- Prepare monthly reconciliations
- Prepare annual budgets
- Work with accountant(s) on tax filings
- Manage underlying financing
- Analyze annual real estate tax assessments for possible certiorari challenges
- Determine how to pay for capital improvements
Day-to-day operations
- Supervise employees
- Provide 24-hour emergency contact
- Clean daily, remove trash and snow
- Oversee move-ins and move-outs
- Oversee tenant renovations, and determine that insurance and all permits are in order
- Attend board meetings
- Circulate tenant notices as needed
- Hear and respond to tenant grievances
- Keep management records in a format that allows for electronic access by authorized people
Service contracts
- Oversee elevator contract and servicing
- Oversee exterminating program
- Oversee boiler service company
- Oversee building’s outside plumbing contractor
- Oversee building’s outside electrical contractor
Utilities
- Consider various providers for gas and electricity
- Oversee fuel oil contract
- Review utility and fuel bills
Governmental notices / compliance
- File DHCR form for multi-unit buildings
- Display building registration and required city/state postings
- Circulate annual window guard notice
- Circulate annual lead paint notice
- Circulate annual fire plan notice
- Register rent for rent-stabilized apartments
Communications
- Consider various telephone providers, including possible alternatives to Verizon
- Consider the possibility of internet service to the building
Capital improvements
- Determine replacement schedules for boiler, roof, and A/C equipment
- Survey buildings for required or desirable capital upgrades, including window replacement and lobby renovation
- Identify problem areas and suggest long-term corrective measures, such as elevator upgrades
Scheduled maintenance
- Determine painting and carpeting schedules for common areas
- Provide exterior window cleaning
- Provide landscaping services
Occupancy
- Provide brokers and potential tenants with building information (fees may attend)
- Provide support to building’s counsel with regard to eviction (fees may attend)
- Evaluate the property and determine an accurate rental rate
- Market the property for rent
- Screen and select potential tenants
- Collect rent, maintenance, and common charges
- Handle inspection visits, as well as tenant move-ins and move-outs