Financial & Account Management

Our office is equipped to accept rent payments directly from our tenants and residents. We understand that prompt and accurate collections of rent are necessary to efficient building operations.

Prime Residence Management complies with all proclaimed rules and regulations set forth by city agencies to make certain that the rights of our tenants are prompt and in heightening our tenant's trust and solidifying those relationships. Our in-house lease renewal department ensures that leases are renewed on timely basis and the proper rents are charged.

Monthly reporting, including preparation of monthly financial reports, records of receipts and payments, collections detail, cash payments, unpaid vendor and legal obligations, actual-to-budget comparisons, tenant notices. The financial reports assess the financial position of the properties and make the proper recommendations to our clients by having our principals review all statements, which reduces costs and maximizes earning potential.

Expense Control - competitive bids as required for repairs and improvements, purchase of supplies, arranging contracts for elevators, heating, ventilation and air-conditioning systems, fuel, water, gas and exterminator. One of the benefits joining our buildings portfolio is to take advantage of extremely competitive prices on a wide range of products and services as a result of bulk rates.

Our expertise in the marketing and management of commercial and residential properties has transformed nonperforming distressed real estate into performing assets.