We Take The Stress Out
of Property Management
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WE OFFER 5-STAR SERVICE
Lighthouse Realty serves Owners in the purchase, sale, management and maintenance of all types of residential properties in Northwest Indiana. Lighthouse Property Management division provides a uniquely honest approach to such properties by stabilizing, improving, maintaining and selling the asset for its maximum value. Lighthouse Realty manages with a hands-on approach that stabilizes the property, proactively improves the property, increases tenant occupancy, decreases expenses and maximizes cash flow. We are confident that we can achieve these goals as we have over two decades of real estate expertise. Many of our properties have been in transitional areas which require superior property management and tenant management skills.
Lighthouse Realty provides its clients with specific recommendations on maintenance which must be accomplished and improvements which can be made. We help you simultaneously accomplish two goals—the effective and efficient stabilization and management of the asset coupled with the expertise and support to market and sell your property to qualified buyers. While we work to protect your assets, increase tenant occupancy, maximize cash flow and maintain your property, we will always be conscious of your end goals.
- “KNOW YOUR SPACE” TENANT SHEETS
- QUARTERLY PROPERTY VISITS
- IMPROVED RESIDENT RETENTION
- QUICK AND DIRECT PAYMENTS
- MOVE-IN/MOVE-OUT CONDITION SHEETS
- LOW MANAGEMENT FEE
- FLAT RATE FOR INITIAL RENTER
- VOLUME PRICING FOR MULTI UNITS AVAILABLE
NO CHARGE UNTIL YOUR PROPERTY IS RENTED.
PROPERTY MANAGEMENT FAQ SECTION
How do you evaluate property management performance and assign managers to individual associations?
Performance results are determined by interactions between members owners and the management team. Each phone call we have with any owner is an opportunity to solicit feedback on how we are doing and how we can improve our service.
What services do you provide to assist owners to perform their obligations?
At LHR, we believe that everything we do should assist the owners in the discharge of their duties. This includes not only managing the property, but “managing” the owners by reminding them of deadlines, issues to be resolved, tasks to be completed and discharge of its legal obligations.
How do you handle conflicts between and the owner and management firm?
We have not had significant conflict between the owner and management. We believe that the client is always right and act upon it. While we understand and value our role in making recommendations to the owner, we understand that ultimately the owner has the authority to make decisions. However, LHR reserves the right to terminate contract due to unlawful acts.
How many buildings and units do you manage and what types of properties do they include?
LHR is a boutique firm that manages more than two dozen properties in North West Indiana. LHR is experienced in managing single family, townhomes, condos, mixed use commercial/residential buildings, and multi-unit properties. While we may be a newer company, we utilize the mentorship of others including Nathan Reeder of Reeder Co. Jennifer, the owner of LHR, sits on the state BOD with him, and he has made himself available in a consulting manner as Lighthouse continues to grow.
What makes your firm unique and why should we select your firm over others?
What makes LHR unique is that the property managers truly care about your properties and their residents. This is not a platitude and it is that simple. That devotion is demonstrated in many of our unique practices. LHR takes emergency calls; we spend some of our evenings every month and several weekends during the year answering our emergency calls. We do this because we believe this is the best way to service our clients. Employees at LHR are a group of dedicated professionals who work together as a team.
Are you current and knowledgeable on federal, state and municipal laws regarding ownership and management?
Yes, LHR is current and knowledgeable on all such statutes. We work closely with law firms and the Real Estate Committees to keep abreast of changes in real estate law and frequently provide training to our owners, residents and staff.
How do you handle conflicts between multiple owners? If you receive different directives from individual members, how do you handle?
Our approach is to resolve conflicts by face to face meetings and constant communication. We appreciate that members are passionate about their homes and have been successful in resolving disputes by keeping an open, active, transparent dialogue occurring between the members, if we receive different directives from the individual members, we seek guidance from the entire ownership. Thus, ultimately all decisions must be made by a quorum of the members.
What specific steps do you take regarding late payments and fines?
The due date for every monthly payment is the first of the month. Each lease provides the outline for when the grace period ends and late fees can be applied. We will call tenants on the last day of the grace period, if rents are not received, to ensure that rents are paid in a timely manner. Late notices are posted on the first day following the grace period end date. Residents are informed at the lease signing, that they have a multiple array of payment options – direct deposit at any Chase Bank, Chase QuickPay, Debit/Credit Card (with a fee), ACH Debit or by mail. All payments must be received by noon, prior to the late date to avoid incurring a fee. The property manager would be responsible to implement any fines and all fees left unpaid after the 15th of the month, will incur additional late fees.
If you are selected, what is your approach in handling the transition from the old property management firm to yours? What is your experience in handling challenging/difficult transitions?
LHR will contact the prior management company immediately upon the management company being advised by the owner that we will be the new management company. Whenever possible, we ask that all information be provided to us in electronic form.
We have a welcome packet that we send to residents prior to the transition date to introduce us, provide forms asking unit owners for all of their current contact information, and update leases. Due to our familiarity with the types of documents that should be provided from prior management, we can easily ascertain if information is missing from what has been provided to us. If any association has previously retained legal counsel, we would work with them as well to procure all needed documents.
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