Easy Management Transitions
The effective management transition of any new accounts at Bishop Management is completed by using a team of people assigned to each property. The team is set up to include one regional manager level person, one accounting manager, and several site level persons. The regional manager will be the point person to coordinate the efforts, review each property in depth and keep the team on track. The accounting manager will complete the office items and paperwork necessary to keep the transition smooth. The site level manager is a seasoned manager who is knowledgeable about the transition process and Bishop policies. They investigate and coordinate the daily items such as leasing and rent collections at the properties, so that normal operations will not be interrupted during the takeover. Other site level persons that may be included would be a leasing or maintenance expert, depending on the property needs and goals.

With the permission of the property owner, we contact and interview each staff member currently working at the property, if the staff wishes to remain at the property. After the interview and review of salaries, contingent job offers are made to all viable candidates and pre-employment items completed. Open jobs are usually filled quickly, as current applicants are often accepted by the firm.

A market survey and marketing plan is prepared upon takeover. The plan includes projected rental rates and occupancy goals, a resident retention and renewal program, advertising mediums and pricing, and staff training and evaluation. The plan also includes aggressive maintenance goals for completion of units available for immediate move in.

Contract Services and Maintenance
The physical inspection is used to determine what contract services and maintenance will be necessary. After a review of all contracts, services and warranties, competitive bids are obtained on recommended future services, including monthly contracts, make ready services, and on-call emergency items. Bids are also obtained for all capital improvements, including large exterior items as well as interior on-going items such as carpet and tile. Vendors are notified of insurance requirements and payment terms, including the need for proper lien releases.

Maintenance also reviews current vacant status and inventory of supplies. Safety, Hazcom and Emergency procedures are also implemented.

Accounting is responsible for the transfer of all utilities, vendor notifications, credit account set up, security deposit and rent roll reconciliation. Bishop Management is versed on almost every property management software system, so there is no need to purchase new software when we begin management services. Budget and account codes are set up on the financial report system and all of the rent roll information is reviewed for accuracy.

Policy Review
The property has all policies reviewed and edited as necessary including emergency procedures, Fair Housing policies and posters, OSHA guidelines and compliance, lease forms and policies (late and pet fees, etc,) application approval procedures, office hours, community rules, and any others. A positive statement of policy changes is prepared, notifying the staff and residents as appropriate.

The budget is prepared or reviewed, and the operational goals are established to meet the budgeted projections in conjunction with the ownership goals.

After staffing is finalized, a training calendar is completed to include Fair Housing, emergency procedures, OSHA safety and MDSD policies, leasing techniques, accounting procedures and other items. A sixty day plan is prepared to ensure that everyone is properly trained for their job.

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