Management and Fees
Builders Management offers an excellent selection of quality apartment homes that meet every pricing need. Ranging from efficiencies, to one, two or three bedroom apartments. We also offer townhome and duplex rentals. BMI manages over 200 properties with a total value of more than 100 million dollars. Builders Management is recognized as a industry leader in the markets they serve, serving over 20,000 residents in North Dakota, South Dakota, Minnesota, Nebraska and Montana.
We have enclosed a sample print-out that each owner will receive monthly. This record-keeping system is ready for you to submit to your accountant for preparation of your tax return. Our Property Supervisor is prepared to go over the monthly statement with the owner at anytime. Each project has its own checking account and savings account. No co-mingling of funds at anytime. We feel it is the most complete record offered, reflecting income, expenses and occupancy.
Our fees are a percentage of the gross income collected depending on the number of units. We believe in good maintenance resulting in quality tennants and reduced turnover. Reduced turnover results in the best possible return for the investor.
Each apartment community is exceptionally maintained. Building and grounds are inspected daily to provide residents with a place they can be proud to call home. Maintenance and repairs are handled quickly and efficiently by friendly, skilled technicians in a timely manner. Leasing is straight forward and uncomplicated. On site managers, who perform resident backgrounds checks, are with the new residents every step of he way to answer questions, lend assistance and to ensure that each resident has a hassle-free move-in experience.
BMI provides property owners with state of the art accounting and bookkeeping services. Every property owner is provided with a detailed, easy to read monthly income and expense report. Builders Management maintains seperate checking an saving accounts for each property. Builders Management does not co-mingle funds.
Builders Management's relationship with its property owners is based on integrity, trust and a proven track record. Whether the owner is new or seasoned, or the property is stable or in distress, Builders Management is a steward of the investor's capital. Builders Management is dedicated to maximizing the value of each owner's assets. Each property is intelligently managed with a focus on market rents, occupancy levels, collection and tenant retention, and the physical upkeep of the properties.
In 1959 Builders Management became the first property management company in the Fargo area to manage a condominium association. Today Builders Management manages 34 condominium and townhome associations in Fargo, West Fargo, Moorhead and Dilworth areas comprising of more than 615 units with a total value of more than 90 million dollars. BMI provides association and unit owners with a wide range of services.
BMI also provides full service accounting for their clients including collection of monthly association fees, paying monthly association bills, and monthly income and expense reports are sent to all unit owners. Seperate checking and savings accounts are kept for each association. There is no co-mingling of funds.
BMI provides excellent full service maintenance at competitive rates for the association they manage, from electrical, plumbing and painting, to general maintenance and steam cleaning, BMI does it all. Our maintenance staff is on-call 24 hours a day 7 days a week should an emergency maintenance situation arise. Unit owners are encouraged to contact Builders Management should they need maintenance work done in their home.
Partnership Has It's Benefits
1.A sophisticated computer record-keeping system that generates a report for the property owner once a month. BMI's computer record-keeping system has been recognized as the leader in the industry. Owner receives monthly year-to-date printouts ready for your tax accountant.
2.After hours rental information line that gives to the caller information about any vacancies. Our office has information on rentals at any of our locations.
3.Saving on advertising for these reasons: a.Inquiries resulting from our rental information line.
b.Putting YOUR property forward to people who call on other ads.
c.Referrals resulting from: other tenants, tenants moving within our organization, other property owners, rental agencies who pick up our listings, and real estate companies.
4.Greater flexibility to show the unit when vacant. Resident Managers can show the apartments anytime.
5.BMI will review your insurance coverage. Many of our property owners were paying too much or had the wrong type of protection. Because of the 3,000 plus units we manage, insurance can be bought under one policy with up to 30 to 40 percent savings to you.
6.Market surveys that allow rent increases when the market will bear it. Rental income to a great extent determines the value of your property.
7.Our experienced property supervisors are familiar with maintenance, repairs and replacements from roofs to water heaters.
8.Discounts that we are able to get on purchases because of our volume are passed on to owners. No mark-up.
9.Complete files and records on each apartment. Such as leases, check-ins, check-outs, and maintenance.
10.BMI handles all evictions at no cost to you except legal fees if necessary. This includes three day notices, unlawful detainer, judgements and collections and going to court on the owner's behalf.
11.Compliance with all federal and state wage and hour laws.
12.Compliance with all federal and state housing laws.
Summary of Services
1.Advertising (Formation, Planning and Placement)
2.Regular Inspection of Property
4.Security Deposit Collection and Refunds
6.Cleaning & Maintenance
8.Eviction and Legal Process
9.Payment of Real Estate Taxes
10.Payment of Mortgage and Utilities
11.Assurance of Compliance with Landlord-Tenant Law
12.Owner Representation Locally
13.Monthly Accounting Printout
14.Annual Year-to-Date Accounting Report