At The Condo Shop we provide property management, sales and leasing and we approach the business of our business with the same attention to detail that we provide you.
You can count on us for:
- Sound and timely budgeting and financial practices, supervised by our team of Certified Public Accountants.
- Client, board and membership meeting coordination, supervised by your dedicated General Manager and our executive team having more than 30 years experience in residential management.
- Regulatory and legal compliance, reviewed by our attorney, fully knowledgeable about applicable laws.
- Routine building system and general maintenance including detailed preventative maintenance programs.
- Strong vendor relationships and experience in contract negotiation.
- Round-the-clock access and executive accountability.
- Integrity of systems, people and corporate philosophy, including fully segregated funds, and adherence to The Condo Shop comprehensive Code of Conduct.
Not sure if Philadelphia Property Management is for you?
Our Philadelphia Property Management team is here to answer any questions you may have. Give us a call and we’ll be more than happy to provide you with a detailed management proposal along with references from satisfied current clients.
TCS Management is a full service Property Management company located in Philadelphia, Pennsylvania. Currently TCS and its affiliates manage more than 30,000 homes throughout the United States. Our focus is on the management of condominium rental units within multi-family residential properties throughout the region. We provide clients with assistance in tenant placement, rent collection, maintenance, bill pay, bookkeeping and many other services. At TCS we know the kind of attention your condominium requires.
TCS will complete a comprehensive evaluation. This evaluation analyzes the condition, rental BPO (Broker Price Opinion), occupancy and cash flow of the property. We will include suggestions for improvement where necessary, and highlight areas where our services will be a benefit.
- Tenant Placement – Marketing is a very large part of our business. We employ a full time staff member to focus solely on generating prospects. Every day we have dozens of people contacting our office in response to the many marketing outlets we employ. These prospects are quickly transitioned into showing appointments and applicants. We typically have multiple candidates for each vacancy. Candidates are then screened to eliminate those who are unqualified. Our screening process analyzes an applicant’s income, credit score, background, and five other key indicators that allow us to evaluate the probable quality of each applicant. After we have selected one or more possibilities, our clients are presented with the facts to authorize the final decision.
- Lease Preparation – Owners are free to require the use of any lease agreements that they choose. But our attorneys have drafted some of the industries most protective leases. At TCS we know the value of protecting property owners and their investment assets. Several days before occupancy, our clients have the opportunity to review the lease and make any changes that they see as necessary. Our licensed professionals handle the rest.
- Repairs – We have contractors, or we’ll work with yours. Over the years we have built a strong book of some of the best contractors. They’re reliable, their work is good and their prices are some of the best in town. Our construction teams give us great rates because we keep them busy. Whether responding to a simple service call or a complete remodel, our clients appreciate the attention to detail and advice to keep expenses to a minimum. If you have a great contractor, we’d love to work with them too.
- Rent Collection – TCS is dedicated to collecting your rents. We have systems in place that have allowed us to consistently collect over 99% of rents. Our process includes monthly invoices to every tenant, phone calls to tardy tenants, property visitation and other steps to maximize collection and retention.
- Rent Processing – We process rents on the 10th day of every month. Every client receives monthly statements that detail rent collection, bill payment, maintenance costs, capital improvements and all other income and expenses. These statements are mailed or emailed to each client and their net income for the month is mailed out on the 11th.
- Bill Pay/Utility Reimbursements – TCS offers the convenience of bill payment for every expense associated with our clients’ properties. Any expenses that are tenant responsibilities are then added to the tenant’s ledger for collection the following month.
- Eviction Filings – We avoid evictions wherever possible, but there are times when they are necessary. TCS has the knowledge and experience to make sure our clients get possession of their properties as quickly as possible. We work with the best eviction attorneys and appear at every court hearing.
Condominiums are more in demand from tenants due to the privacy that the properties afford. These properties tend to have a higher rental rate than their apartment counterparts. However, the cost of the property is higher per door than a similar situated multifamily property. Therefore, these investments require a solid team that can provide full service management that includes systems for: 1) Marketing Vacancies 2) Screening Applicants 3) Preparing Leases 4) Collecting Rent 5) Coordinating with vendors 6) Evicting Tenants if needed 7) Providing Financial Reports that include Income and expenses.
Our firm is committed to providing quality property management services to our clients. Our founder is a member of the National Association of Residential Property Managers (NARPM), which is a national association dedicated to property managers and property management companies who provide services for condominium home owners. Since many of our property management clients are out of state owners, our property management firm has written and developed several procedures to help us insure that owners are appropriately informed. These procedures include:
- 1) Ledger that tracks owner’s contribution and payments
- 2) Balance Sheets
- 3) Tenant Rent Roll
- 4) During vacancies, we send showing reports from realtors along with any feedback they have
- 5) Email notification of money being sent to the 0wners
- 6) Digital approval from owners for repairs of an emergency nature, estimates of repairs that are higher than the delegated authority to spend, or maintenance of a contractual nature.