The Lexington PMC Advantage
Your Home… Your Castle… Our Responsibility+
For most Lexington PMC clients, their properties are their single largest investment. To protect this investment, Lexington assumes all responsibility for overseeing physical maintenance, emergency response and financial management. Every property has its own segregated bank account and you can rest easy knowing that every aspect of your property is professionally managed.
No Small Print and No Hidden Fees+
Trust starts with a clearly readable contract. However, most real estate contracts are printed in fonts that are so small that they are almost impossible to read, effectively hiding key contract provisions in plain sight. Not so with Lexington PMC. All of our contracts are in a minimum 12 point font with all fees are clearly identified in Bold Italics.
Real Time Transparency / The Digital Advantage+
Lexington’s Owner Portal provides 24/7 secure real-time access to all financial and physical maintenance records for your property from anywhere in the world. Whether you are sitting in your living room or sailing in the Caribbean, you can access the financial records for your property. You can access the maintenance records for your property. You can monitor your property’s leasing status. And, you can approve distributions of cash flow from your property. Lexington PMC technology provides complete transparency and gives you instant access to your information no matter where you are or what you are doing.
Monthly Reports and Statements+
Lexington PMC provides Owners monthly reports that include a detailed accounting of all expenses and sources of income. Lexington PMC’s reports clearly identify insurance, property taxes, preventative maintenance, repairs, gardeners, pool services, utilities and professional fees. Click on this owner-report to view a sample report.
Too many property managers conduct their business like used car salesmen. They hide their rates from their clients until it is time to sign on the bottom line. This is not the case with Lexington PMC. Our rates are published on our website and clearly identified in Bold Italics in our easy to read contracts. Our rates as of July 1, 2019 are:
Property Management – Fee shall be seven percent (7%) of property’s market rental rate with a minimum of $175 per month plus $40 per hour for on-site supervision beyond two hours per month. Overhead and Service Fee for major repairs and renovations applied as defined below.
Evictions fee is $150 plus $40 per hour for court time and/or on-site eviction proceedings.
Option 1 (Maintenance Only): The maintenance only fee shall be 4% of the property’s market rental rate with a minimum of a $100 per month plus $40 per hour for on-site supervision beyond two hours per month. There shall be an Overhead and Service Fee for major repairs and renovations applied as defined below.
Option 2 (Bill Pay Only): The bill pay only fee shall be 4% of the property’s market rental rate with a minimum of a $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.
Option 3 Full Service (Maintenance and Bill Pay): The full service fee shall be 6%
of the property’s market rental rate with a minimum of $175 plus $40 per hour for on-site supervision beyond two hours per month. There shall be an Overhead and Service Fee for major repairs and renovations applied as defined below.
Overhead and Service Fee shall be added to the price of all work performed by or at the direction of the Manager in excess of $2,500. This fee shall be 8% of the charges.
For example, the Overhead and Service Fee for coordinating a $5,000 roof replacement shall be $400 ($5,000*8%=$400).
Lexington PMC’s staff and vendors are experienced, professional and courteous. They have combined decades of experience in property management, asset management and the leasing of a wide range of residential and commercial properties.
Free Investor Consultations+
Lexington PMC’s affiliate, Asset Management Consulting Services, has provided preacquisition analysis and turn around consulting to the owners of residential, office and retail properties from California to Georgia. AMCS provides Lexington PMC clients complimentary due diligence check lists and free property evaluations for investment assets in escrow.
Property Versus Home Management+
Lexington PMC provides a full range of property management services to investors as well as Home Management services to seniors that are finding the burdens of home ownership overwhelming. Instead of giving up the home they love, Lexington’s Home Management program provides seniors with everything we do for investment properties… except collecting rent. Lexington PMC will ensure the bills are paid on time, contractors are hired, repairs are coordinated, and detailed monthly financial reports are provided…everything needed to ensure seniors can continue enjoying the home they love for as long as they choose.
Instant Tenant Screening Credit/Criminal/Eviction+
The Lexington PMC website is directly linked to major credit, criminal and eviction tracking services. As a result, credit agency, court and even Experian Rent Bureau records are instantly available to Lexington PMC owners. No more waiting, no more uncertainty…. Applicants’ are screened in minutes assuring that you get the best possible tenant.
The customized lease used for your rental property is digitally stored in your secure Owner Portal. New leases are automatically filled in with information directly transferred from your Tenant’s Rental Application. No transcription errors. No typos. And absolutely no missing information.
Computerized Lease Administration+
Never miss a rent increase or lease expiration again! Lexington’s digital leases are integrated into our accounting system the moment the lease is signed! This provides a seamless transition where rent increases and lease expirations are continuously tracked and invoices are automatically generated.
In real estate, “An ounce of prevention is indeed worth a pound of cure.” Lexington PMC controls costs and extends the life of critical building systems (roofing, heating, plumbing etc.) by ensuring that systems are properly maintained for maximum life and efficiency. Filters are changed in accordance with manufacturer’s guidelines, sewer lines are cleared at least once every three years and gutters are cleaned once a year plus after major storms to prevent roof damaging debris from accumulating. Lexington PMC saves Owners thousands by spending hundreds of dollars on a customized preventative maintenance scheduled for each property.
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.
In addition to preventative and emergency maintenance, Lexington PMC can, at owner request, obtain multiple bids and oversee vendors providing remodeling or renovation services. This includes both improvements designed to increase rents such as kitchen and bathroom remodels and disaster recovery from floods and windstorms.
In addition to overseeing property repairs, Lexington PMC ensures that gardeners, pool services and other vendors providing on-going services are on time, on budget and providing quality services. When requested, Lexington PMC will ensure that vendors designated by the Owner are used on their property. It is your property. It is your investment. It is your choice.
Automated Maintenance Tracking+
Tenants report Maintenance Requests via their online Tenant Portal and Work Orders are generated automatically. Owners, Tenants, Lexington PMC Managers, and repair personnel are digitally linked to ensure complete transparency and that repairs never fall through a crack. No sticky notes. No lost call logs. And no dropped balls. Lexington PMC’s electronic work orders and communication with vendors provide quicker responses, greater accountability, and complete transparency. At all times Owners have complete access to every work order, every invoice and the status of every repair.
Electronic Rent Collection (Pay Rent Online)+
Rent is collected faster and more securely via the online rent payment section of each Tenant Portal. Tenant’s pay their rent instantly and can select automatic debit via the Electronic Cash Payment (“ECP”), Automated Clearing House (“ACH”) E-Check or Credit Card payment options embedded in the Lexington PMC website. No more excuses like “the checks in the mail”. And no bank holiday or weekend delays. Rent payments are collected and deposited the very next business day.
All Lexington PMC leases inform tenants that late rent payments are automatically reported to credit agencies. Knowing that their credit is on the line typically discourages late payers from applying and strongly encourages existing tenants to pay on time, every time.
On the rare occasion that they are necessary, Lexington PMC supervises the eviction process from start to finish. Lexington PMC will retain legal counsel to represent owner, ensure the three-day notice is properly served, calendar court appearances and, if it ultimately comes to it, sheriff lockouts and removal of tenant’s possessions.
Lexington PMC ensures that all recurring and one-time bills related to the property are paid in full, on time. Once bill paying has been transferred from the Owner to Lexington PMC, we become responsible for late fees whenever bills are paid late despite the property account having sufficient funds. If the check is “lost in the mail,” we pay the late fee.
Lexington PMC uses the most advanced and accurate real estate accounting tools in the industry. Rent collection, invoicing, bill paying, financial reporting and owner distributions are fully integrated for seamless execution and preparation of records for tax preparation. Lexington PMC provides detailed year end reporting that makes your tax accountant’s job easier, faster and less expensive.
Move In/Move Out Inspections+
Lexington PMC’s management staff supervise all move in and move out inspections, posting the results immediately in the secure Owner Portal.
Whether “by owner”, listed with a Realtor, or leased by the Lexington PMC team, all homes for rent are: (1) tracked via our custom leasing dashboard, (2) advertised on the Lexington PMC Website and (3) Posted on national and regional websites including Zillow, Apartments.com, Realtor.com, HotPads, USAA Home Guide and Trulia. Additionally, listed properties are posted on the Multiple Listing Service whether by the owner’s leasing agent or Lexington PMC. Lexington PMC’s principals are members of the three regional real estate boards (Southland Regional Association of Realtors – SRAR, the Ventura County Association of Realtors, and the Pasadena Foothill Association of Realtors – PFAR), the California Association of Realtors, the National Association of Realtors and the National Association of Residential Property Managers.
For high rent luxury homes or uniquely situated properties, Lexington PMC can coordinate professional photo shoots, virtual staging, drone aerial photography, and standalone property websites. Please click this link to visit the virtually staged website for 343 Upper Lake Road, a vintage hunting cabin located in classic Lake Sherwood.
Leasing Made as Easy as 1-2-3-4+
Lexington provides Owners and their real estate agents the fastest and easiest leasing tools on the market. With Lexington PMC’s fully integrated leasing system the entire process from showing to completed lease takes less than 30 minutes:
1 – Tenants apply online and can pay the application fee by credit card.
2 – Tenant credit, criminal and rent payment histories are screened and the results are instantaneously provided to the Owner and Owner’s leasing agent.
3 – The Owner’s custom lease is automatically filled in and immediately available for either electronic or ink signature.
4 – With advance Owner approval, the Tenant can instantly pay their first month’s rent and security deposit electronically.
To Inquire about our Services: