Procedure - Owner Initial Make Ready

New Property Make-Ready Repairs Procedure

Purpose

To clearly define the roles and responsibilities of Leasing Managers (LMs) and Property Readiness Coordinator (PRCs) in assessing and managing new property make-ready repairs. This ensures consistent communication with property owners and efficient repair processes.

Procedure Steps

1. Initial Assessment by Leasing Manager (LM)

• Responsibility: The LM is responsible for conducting the initial assessment of the property for make-ready repairs.
• Action: During this assessment, the LM will:
  • Evaluate the condition of the property.
  • Identify any necessary repairs, cosmetic updates, and discuss rent-ready standards.
  • Discuss findings directly with the property owner and set expectations for repair timelines and potential costs.

2. Communication of Assessment Findings

• Responsibility: It is the LM’s responsibility to communicate with the property owner after the initial assessment.
• Action:
  • Discuss all recommended repairs, maintenance, and updates with the property owner.
  • Ensure all decisions are documented, and the owner's preferences are clearly noted.

3. Follow-up by Property Readiness Coordinator (PRC)

• Responsibility: The PRC follows up after the LM's assessment to conduct a baseline evaluation of the property once vacant. The PRC’s role is to confirm the LM’s findings and identify any additional issues missed during the initial assessment.
• Action:
  • PRC adds any additional repair needs that arise from the baseline evaluation.
  • The PRC ensures that all repairs and recommendations are documented in the system.

Handling the Repair Process

• Responsibility:
  • The LM notifies PRC of the scope of repairs prior to vacancy.
  • Once the property is vacant, the PRC manages the repair workflow through the company’s repair management system (Meld).
• Action:
  • If estimates or work need to be addressed prior to vacancy:
    • The LM provides the scope to the PRC.
    • The PRC will open a Meld, coordinate with a vendor, and ask the vendor to work directly with the owner.
    • The PRC does not physically visit the property until it is vacant. However, vendors may be assigned to obtain estimates with the owner’s coordination if necessary.
    • Otherwise, all repair estimates will be obtained after the baseline evaluation is completed. (This often results in better pricing for owners.)
  • Once the property is vacant:
    • The PRC will:
      • Perform the Baseline Inspection and notify owners of their findings.
      • Create repair orders and assign them to the appropriate vendors within Meld.
      • Track all repairs and ensure completion according to the agreed-upon timeline.
      • Document repair decisions and updates within Meld, including contractor details if the owner selects an external vendor.
  • Note:
    • If the property owner chooses to pay outside the company’s repair system, the PRC must obtain and upload complete documentation, including vendor details and invoices.

Ongoing Communication

• Responsibility:
  • The LM ensures the PRC is following through as directed and discusses major developments and costs with the owner directly.
• Action:
  • The PRC supports the LM by answering owner follow-up questions, providing status updates, and confirming when repairs are completed.

Summary of Responsibilities:

• Leasing Manager:
  • Conducts initial property assessment.
  • Communicates findings and repair recommendations to property owners.
• Property Readiness Coordinator:
  • Follows up with any additional repair needs after the baseline evaluation.
  • Manages the repair process using Meld.
  • Ensures proper documentation for repairs, especially when an owner uses external vendors.