How many employees does your company employ?
We have approximately 40 employees.
Please describe your company’s procurement process for each of the following:
Standard contract services (i.e. elevator and boiler maintenance).
We have experience with numerous contractors and vendors throughout the tristate area. As part of our transition process, we carefully scrutinize all existing contracts and vendors. In some cases, we may be able to re-negotiate contracts and prices or discounts for services. We conduct a vetting process on any new contractor or vendor before they are able to bid on work. Every contractor and vendor we utilize must adhere to our ethics standards and must be licensed and fully insured.
Standard professional services (i.e. legal and accounting).
If a Board is looking for a new attorney or accountant, we are happy to provide recommendations. We work with many of the most highly regarded professionals in these fields. We would arrange for the Board to meet and interview prospective firms that fit their needs.
Planned capital investments/repairs.
When we assume management of a property, we do a complete building evaluation to determine what conditions may warrant immediate attention and what long term planning may be required for the building’s physical and mechanical systems. We present the plan to the Board of Managers and make specific recommendations prioritizing projects based upon those areas that demand attention. When a project is recommended by the management and subsequently approved by the Board, we often recommend that a professional be hired to prepare specification, recommend contractors, and aid in the bid evaluation process.
Repairs, services and purchases and contracts for repairs, services and purchases must be approved in advance by the Owner except that, if the Agent believes that emergency repairs are immediately necessary for the preservation or safety of the building, or to comply with federal, state or local laws, the Agent shall be entitled to arrange for such emergency repair, regardless of cost, without the Owner’s prior consent. Agent shall promptly notify the Owner when an emergency repair is required, and make only those repairs that are reasonably necessary to address the emergency.
Please describe your company’s accounting capabilities for the following:
Common Charge and Assessment collection (including the available billing and payment options). In addition to making payments by mailing in a check or through an automatic payment from your financial institution, Unit Owners have the following options:
- Online Payments through our website enables a Unit Owner to make a secure payment either on a one-time or recurring basis.
- The ACH Debit Program can be used by Unit Owners who wish to have their monthly payments directly debited from their accounts. Payments are debited on the 5th of each month for the total balance due.
We are working on being able to offer credit card payments in the near future.
The common charge payments are posted to each Unit Owner’s account, through a computer transmission, directly into our property management system. All payments are processed on a daily basis. We are working on credit card payments.
Invoice payment processing and controls.
All invoices are mailed to our office and entered into our accounts payable system. We have two payment cycles, “Express” and “Monthly”. The Express items include mortgage, tax, utility and heating bills. These are paid upon receipt. Monthly bills include general repair and maintenance invoices, including supplies, and recurring service contracts. These charges are examined and approved by the property manager between the 15th and 20th of each month.
The Manager also reviews the invoices with the Superintendent prior to payment, and always initials the original invoice. The bills are then paid and every check is signed by both Fred Rudd and Gloria Amorini-French. Checks are then mailed before month-end. This ensures consistent monthly payments. Please note that if a capital project is being funded through the reserve fund, our process is slightly different. We never pay any bills directly from the reserve account. Funds are transferred, via a request signed by the Board, to the operating account. The vendor payments are then made from the operating account so that we can clearly track the costs and the uses of the reserve fund.
Payroll for building employees
We work closely with building staff to ensure that all payments are made correctly and timely. Payroll time sheets are submitted by the Superintendent/Resident Manager and approved by the Property Manager before processing. Our payroll administrator is very experienced and well respected by all of our buildings’ employees. We understand the critical importance of the proper handling of payroll. This not only includes producing the paychecks, but also the payment of union and related costs in a timely and accurate manner. We process our payroll through Paychex.
Please describe your company’s emergency procedures. Our hours of operation are from 8:30am to 6:00pm, Monday through Friday. Our telephone is answered by our receptionist, not an automated system. After hours, we have an answering service that is well versed in our procedures for handling calls and emergencies.
- Emergency activities. Many buildings in our portfolio were directly affected by Hurricane Sandy. We are proactive in our approach to dealing with emergencies of this nature, including fires, floods and natural disasters. We will prepare a Global Emergency Planning Manual which will cover emergency preparedness and disaster recovery, a building emergency team which can include residents that serve as captains of each floor, a chain of command flow chart, a list of stock supplies which should be on hand, information regarding an evacuation plan, fire safety plan, power outage plan, criminal activity and intrusions. One of our buildings took their plan to another level and we were instrumental in organizing a “Go Bag” for each resident. We will ensure that a full emergency contact list is on hand with the staff for not only residents but vendors as well.
- Seasonal reminders Depending on the infrastructure of your building, we will provide seasonal letters regarding a/c maintenance, heating etc.
- Annual Unit inspections we have developed an all-inclusive checklist that building staff can utilize for annual unit inspections. The staff will be responsible to report any deficiencies in apartment fixtures, windows, heating elements etc. Follow up reports will be maintained and if necessary sent to residents of their respective items that they may be responsible for.
Please describe your company’s process for addressing unit owner complaints.
It is Rudd Realty’s Policy to return calls and emails within 24 hours.
What property management software does your company use?
We use BJ Murray which is a fully integrated property management system.