Provide a brief overview of your company, describing the number of employees by function, number of property management assignments and the breakdown of assignments between condo and investment properties.
EGL Properties has been in business for almost 30 years. We have a large and diverse portfolio of income properties ranging from single-family homes, homeowners associations, commercial properties, and large multi-unit apartment complexes. 25% of our portfolio is made up of homeowner associations. We currently have 6 employees working as portfolio supervisors with an additional 20 support staff in our accounting, maintenance, and marketing departments. EGL manages properties from Long Beach to the San Fernando Valley, but the main focus of our portfolio is from Santa Monica to Downtown LA.
How many properties does each manager typically handle and how many will our manager handle?
Each supervisor handles on average 10-12 properties; however, our entire staff, including the principles of the company, is available to answer any questions regarding your association.
How often are managers expected to visit their properties?
In our contract, the supervisor is required to attend one monthly board meeting and make one trip to the property per month. However, given the location of the property we can increase that to two physical inspections monthly or as needed given specific projects.
What support is provided to managers?
Your manager has an assistant and a full office staff to assist in managing. Our company meets at least once a week to go over each property. Therefore the principles of the company as well as our accounting and maintenance staff are always aware of what is happening and will be available to assist in any issues. Basically, you will always get a call or email back in a timely manner.
Please describe the person you anticipate being responsible for our project using a resume or summary of background.
Our HOA supervisor has been at EGL for over ten years and in property management for over 15 years. At EGL she is responsible for all tasks relating to the supervision of residential properties and homeowners associations. She interfaces with accounting, maintenance workers, and vendors. She is fully licensed and certified by the Bureau of Real Estate.
Provide a list of included financial reports – monthly and annual
EGL provides the following reports at no extra charge: Income & Expense Statement; Check Register; Dues Roll; Expense Register with copies of all receipts; Pending Payables; and Copy of Bank Reserve Account Statement (if statements are provided to the Manager). These reports are available through our website on a daily basis and a report will also be sent to the board once a month. We can include additional reports, if necessary; however, there will be an additional charge unless otherwise negotiated in advance.
How are requests for service handled?
We prefer that all requests come in via email, just so it is easier to keep track of everything and have as much as we can in writing.
Owners are able to make maintenance requests through our website or by sending an email to the property supervisor. You are also free to call our office during office hours (from 8:00 AM to 5:00 PM) or call our Emergency Line after hours or on weekends. There is always someone available.
For projects, we prefer that one designated representative from the board be our point person, so as to avoid any confusion. What is the process for following up on the satisfactory completion of requests for service and information?
For any requests made through our website, the sender immediately receives a confirmation that we received their email. In addition, they receive a follow-up email a week later with a survey as to their satisfaction on the completion of their request. In addition, your supervisor attends all board meetings and will report on the status of any projects.
What is the process for following up on the satisfactory completion of requests for service and information?
For any requests made through our website, the sender immediately receives a confirmation that we received their email. In addition, they receive a follow-up email a week later with a survey as to their satisfaction with the completion of their request. In addition, your supervisor attends all board meetings and will report on the status of any projects.
Will you support the sales, renting and lending process when information, documents or other data may be required by lenders, buyers, renters, escrow, brokers, etc.? Are there any charges or fees for this support?
We can assist with that; however, there is a $250 charge per transaction that is billed to the individual owner. If you decide to move forward with the website, many of these documents can be posted on the site.
How do you handle policies and procedures for delinquencies, late fees, lien placements, collections, etc.?
All owners are able to log into their personal accounts through our website and see their balance, in addition, a full statement is sent to owners every month. Late fees are charged on the 15th of the month (unless otherwise specified by the CC&Rs).
The percentage of late fee charges is also determined by the CC&Rs, usually, the norm is 10%. Once the homeowner hits a balance of $2000 we can begin the process of putting a lien on the unit. When we see an owner getting close to that number we will notify the board for approval to begin the process.
Once a lien company serves a demand letter the owner will have 30 days to pay the outstanding balance. If they do not respond within that timeframe they will receive a notice of default, at that point if no payment arrangements have been made we will come to the board to get permission to record the lien.
At this point, it is in the lien company’s hands. When the process is over we collect the outstanding balance, the homeowner is required to pay any additional fees to the lien company. The process usually takes no more than three months.
What happens if there is an emergency after business hours?
When you hire EGL, we become responsible for your property 24 hours a day. There is always a senior staff member on call to quickly address emergencies. We have access to vendors who can respond in an emergency, no matter what the hour.
Will you provide a secure website for the property to include access to homeowners for information, announcements, financials, etc.?
We can provide a website exclusively for your building, however, there is an additional charge of $50 per month to maintain the website. Through the EGL website, the board can see the building’s financials, and individual owners can look at their accounts updated every day.
Owners can also make a maintenance request and pay their HOA dues online with a credit card. There is no additional charge to do this through the EGL website. If you decide to go with an exclusive website for your building you get everything mentioned above as well as the ability to post announcements, which will be emailed to each owner, as well as having all documents such as the CC&Rs and your insurance policy posted as well.
Any maintenance requests made from an HOA website come into our system from a different database and are separated from the rest of the maintenance requests that come in from our general portfolio.
What is your insurance coverage and what insurance coverage to you require the Association to carry?
EGL is fully insured as are our vendors. All employees of EGL are also covered under our workers’ comp policy. Our Insurance requirements are listed in Section 8 of our management agreement.
Provide a menu of all charges for the base agreement plus any additional service charges.
A full detailed breakdown of all additional service charges is listed in section 6C and Exhibit A of our management agreement.
What are your capabilities, qualifications and fees associated with managing major projects/repairs that are necessary at the Property?
EGL is licensed and insured to manage most major projects necessary for the property. The head of our affiliated maintenance company is a licensed contractor.
A full description of our bid process and policies on supervising modernization is listed in section 5E of our management agreement.
We also have many qualified, licensed, and insured vendors that we have been working with for years. You are not under any obligation to use EGL maintenance or vendors and we will always provide competitive bids. If any of our fees and charges apply to your project you will be notified in advance.