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Answers to Owner’s Commonly Asked Questions

 

What is the Owner Portal?+

Every Lexington PMC client has their own secure LexingtonPMC.com login that gives them complete 24/7 access to their properties’ financial and maintenance records. Lexington PMC is completely transparent. Our Owners always know when the rent has been collected, what bills have been paid, how much money is in their custodial bank account and the status of all property repairs.

What are your hours?+

Lexington PMC management and maintenance personnel are on call 24 hours a day 7 days a week. Normal business hours for our office staff is Monday through Friday 9AM to 5PM.

How do I contact you after hours?+

Lexington PMC’s staff is available 24 hours a day 7 days a week to respond to building emergencies. In case of an emergency, please call our main line at 818-882-5888 and leave a detailed message if you reach our automated voicemail system. State your name, address, phone number and the reason for the emergency call. Someone will respond to you as quickly as possible.

If the emergency is life-threatening, please call 911.

How do I hire Lexington PMC?+

Call (818) 882-5888 or (805) 888-7229 and request an Owner Kit. We will meet you on-site, discuss your property’s needs and prepare all of the required documentation.

Why does Lexington PMC publish its rates?+

Lexington PMC provides superior service for reasonable fees. Management fees are determined by rental rates — which is the best measure how complicated and demanding an asset is likely to be. All clients with identical properties pay identical fees for identical services. Property Owner’s deserve better than being kept in the dark by managers that behave like used car salesmen.

How much does Lexington PMC charge for Property Management?+

Six percent (6%) of rent collected with a minimum of $175 per month plus $40 per hour for on-site supervision beyond two hours per month. For major repairs and renovations, project management fees are charged which are highlighted in Bold Italics in the Property Management Contract.

How much does Lexington PMC charge for Home Management?+

Option 1 – Maintenance Only: $100 per month plus $40 per hour for on-site supervision beyond two hours per month and project management fees for major repairs and renovations as defined in the property management contract. For estates and homes over 3,000 square feet, the fee shall be 4% of the property’s market rental rate.

Option 2 – Bill Pay Only: $100 per month for the payment of all home ownership related bills including property taxes, insurance, utilities, mortgage, gardeners, pool services, handymen, repairs and renovations. For estates and homes over 3,000 square feet, the fee shall be 4% of the property’s market rental rate.

Option 3 — Full Service (Maintenance and Bill Pay): $175 per month plus $40 per hour for on-site supervision beyond two hours per month and project management fees for major repairs and renovations as defined in the property management contract. For estates and homes over 3,000 square feet, the fee shall be 6% of the property’s market rental rate.

How does my tenant pay their rent?+

Tenant’s log into their secure LexingtonPMC.com Tenant Portal and pay their rent electronically. Tenants can select automatic debit via the Electronic Cash Payment (“ECP”), Automated Clearing House (“ACH”) E-Check or Credit Card payment options imbedded in the Lexington PMC website. No lost checks. No “checks in the mail”. And, no bank holiday or weekend delays.

Why Do Lexington PMC Tenants Pay On Time?+

We make being a Tenant as important to building credit as leasing a car or getting a bank loan. Lexington PMC Tenants know that late payments are automatically reported to credit agencies. As a result, they are far more likely to pay on time, every time. Our system is directly linked to the Experian Rent Bureau, giving Tenants a good reason to make their rent the most important payment they make every month!

How does my tenant report maintenance repair requests?+

For routine repairs, Tenant’s log into their secure LexingtonPMC.com Tenant Portal and report the problem. Our maintenance staff is immediately notified and Tenants are notified by email every step of the repair process. For emergencies, Tenants contact us 24/7 at (888) 588-8958.

What type of properties does Lexington PMC manage?+

Single family homes and 2-4 unit multiplexes (duplexes, triplexes and fourplexes.)

How often are financial reports provided?+

In addition to 24/7 access via their secure Owner Portal, monthly financial reports are provided to owners and their designated professionals including accountants.

When and how do I get paid? +

Every month, the balance in each property’s custodial account above the Emergency Maintenance Reserve is automatically transferred into an account designated by the Owner.

How much is the Emergency Maintenance Reserve?+

The amount of each property’s Emergency Maintenance Reserve (“EMR”) is mutually agreed between the Owner and Lexington PMC in the Property Management Agreement. Typical EMR’s range from $500 to one month’s rent. The older the property the higher the recommended EMR.

Does Lexington PMC hold the Security Deposit?+

Security Deposits are typically released to Owners. However, Owners who do not want to have to write a check to Tenants at the end of their leases leave the security deposit in their custodial account to function as their Emergency Maintenance Reserve.

To Inquire about our Services:

Phone:
(818) 882-5888
(805) 888-7229

Or send our Request Form:

  • Property Summary

  • Contact Information