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RFP No. 15-043 <br />Property Management Services <br />2. OPG will provide, each month and at the end of tenancy, a rent payment history. <br />Reconciliations of this will summarize payment history, delinquent rent payments, late <br />fees, and deposits. <br />3, OPC will provide, on a regular basis, a vacancy report Indicating all vacant units and <br />the dates they were inspected by OPC staff. <br />4. OPC will provide, each month, a report detailing amounts expended for utilities and <br />other expenses. <br />5. OPC will provide, each month, copies of work orders indicating repairs made, when, <br />and where if requested. <br />6. OPC will submit an aocidentlincident report within two business days of occurrence of <br />any accident, injury, or incident causing significant property damage or illegal entry at <br />the Project. <br />7, OPC will provide the following accounting reports each month: <br />• Income Statement (MTD and YTD) <br />• Balance Sheet <br />• General Ledgers showing all transactions during the month <br />• Accounts Receivable Report <br />• Accounts Payable Report <br />• Check Registers <br />• Bank Statements <br />Anticipated Approach <br />Property Management <br />In general, our property management services fall under the following four categories: <br />Lease Agreements. OPC will provide our own lease agreements or use those provided by the <br />City for all new and carry-over tenants. Lease agreements will be fully executed, with originals <br />kept on file with terms regularly reviewed and enforced to help protect the City. <br />Marketing and Leasing. OPC will conduct market surveys and provide results to the City with <br />recommendations. Decisions will be made to continue renting to current tenants, re -rent vacant <br />properties where appropriate, or adhere to a "no re -rent" policy for relocation projects where <br />vacated units will not be made available for re -occupancy, whatever Is most advantageous to <br />the Clty. <br />Accounting, OPC will establish an expense account on behalf of the City, collect rents, <br />deposits and other income, pay vendor invoices, utility bilis, refunds, and other expenses, <br />maintain records per generally accepted accounting practices, and provide regular reporting to <br />the City for complete transparency. <br />Property Monitoring, Maintenance, and Repairs. OPC will secure properties, regularly <br />monitor them for Illegal activity, and perform or arrange for required maintenance and repairs to <br />help protect the City's assets. <br />Page 6 <br />