Timesaving Residential Property & Condominium Association Management 

Leave unpleasant and time-consuming administrative and rental duties to Divine Investments. Our firm in Providence, Rhode Island, offers efficient condominium association and residential property management to simplify your life. With over 15 years of experience, our team is extremely capable of minimizing vacancy rates and assessing a property's repair needs.

Residential Property Management

Divine Investments provides a variety of services to both single- and multiunit-dwelling owners. Property management contracts are custom fit to meet each owner’s individual needs. From out-of-state owners not interested in handling any aspect of their property to live-in owners just needing a rental agent, Divine Investments handles it all.

 

Sample Management Contract — Full Service | On-Call Service

Full Range Service
This service is the most comprehensive and is intended for those owners who want as little do with their property as possible. It includes the following:
  • Attending to property maintenance or repair. Client may request approvalof subcontractor for specified work.
  • Responding to any tenant problems including notice of late rental payment and  evictions.
  • Maintaining accurate and complete books with respect to all expenses and receipts associatedwith the property. Upon execution of this contract, expenses will be transferred into the Manager’sname and tenants will send their rental payment directly to the Manager.
  • Providing a monthly expense statement to the client.
  • The cost of this service is generally 10% of the total monthly rent roll; this can vary slightly depending on the number of properties or units each client owns or the degree of  upkeep of any individual property. The 10% fee is based on the total potential rent roll of any one property and is a flat fee not affected by the number of vacancies in the building.


On Call Service
For clients wishing to handle their properties’ finances and rent collection themselves, this service eliminates problem calls from tenants. Any tenant problems would  be handled directly, as well as building maintenance. The cost of this service is less than the “Full Range” but depends on the number of units. It generally runs around $65.00 per unit per month.

Rental Agent Service
This service is simply to rent out any vacant unit. It includes establishing an advertisement plan with the client. All advertisement arrangements will be taken care of and the client will be updated regularly as to the progress. For instance, if it is agreed upon to advertise in the Providence Journal for two weekends in a row and the first weekend advertisement engenders little response, then a consultation will be made prior to the next advertisement considering any needed changes.

  • Screening Tenants; All prospective tenants will fill out an application form authorizing a credit check with an application fee. Other methods of screening tenants include prior landlord reference check and income verification. If the prospective tenants are students, then parents may be asked to co-sign the lease agreement.
  • Lease agreements can either be supplied or the client may chose to use their own. The client may also ask for a review of their lease agreement.
  • The fee for this service is equal to a half-month’s rent of the available unit. For instance, if the unit were rented for a $1000.00 a month, then the rental agent fee would be $500.00. The client will be billed for all advertisement expenses.

Sample Contract  - Rental Agent Agreement

Consulting
Hourly based services are available for assistance in decisions regarding purchases, development, maintenance issues, increasing cash flow, or managing a budget. Or, out of state investors interested in a second opinion on a particular neighborhood or area.
$85.00 per hour by appointment.

Condominium Association Management

Divine Investments can meet condominium associations' needs. The following provides a list of some services typically provided in a contractual agreement:

  • Collection & Record Keeping of All Fees, Payment of Bills, & Maintenance of a Checking Account in the Association’s Name
  • Management of All Maintenance & Contracts Relating to Common Areas, as well as Handling Preparation of Bid Specifications & Receiving Quotes on Related Work
  • Attending Meetings upon Request by the Trustees — a Monthly Letter Will Be Prepared & Sent to All Members Highlighting Any Issues or Concerns, Describing the Nature of Upcoming Repairs or Unforeseen Expenses, including a Monthly Income Statements
  • Codes & Regulations of the Association Will Be Enforced | Divine Investments Will Also Act as a Liaison between the Association & Third Parties, Such as Attorneys, Accountants, & Contractors
  • Finally, Overseeing the Budget throughout the Year, including Ensuring That It Is in Keeping with the Association’s Cash Flow on a Regular Basis
  • Sample Management Contract — Condominium Association

Avoid unnecessary headaches while saving valuable time and resources
with our residential property and condominium association management.