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THE BARRACKS MANAGEMENT GROUPTHE BARRACKS MANAGEMENT GROUP
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The Barracks Management Group serves as the only onsite Leasing & Property Management Company within The Barracks Townhomes Community. It is by no means required by owners; however, the majority of our Investment Partners choose to utilize our services since our sole focus is The Barracks Townhomes. We are the experts!
We strive to make the Investment Property Experience as hands-off as possible for our clients. We have a significant number of investors who are out of state and country, who prefer not to be burdened with property management from afar.
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Our team operates staffed model homes 7 days a week. We coordinate and execute all marketing efforts, model home and property tours, credit screenings, background checks, lease signings, provide you with a 1099 at the end of the year, and perform and coordinate maintenance for your properties.
MANAGEMENT FEE8.5% of Gross Monthly Rents Collected
The Management Service Fee is only collected when we have collected your rents. If you aren’t making money – neither are we. A large part of this fee goes towards resident events & operational expenses associated with onsite model homes. We will handle all resident interactions from touring to move out, rent collection, and maintenance requests.
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LEASING FEES• 65% of One Month’s Rent for New Leases• 50% of One Month’s Rent for Renewals
Our Leasing Fee is an annual fee that is paid at the time leases or renewals have been acquired for your home. These fees help us cover the costs of advertising and time invested in procuring leads and ultimately acquiring a signed lease.
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PROPERTY RESERVE$250 per Property
A Property Reserve account holds $250 of your money. We utilize these funds to pay for repairs needed on the property in a timely manner. If at any point a repair costs more than $250, a member of our team will contact you to discuss potential options.
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PREVENTATIVE MAINTENANCE PROTOCOLS (PMP)As with all material things, appliances, lightbulbs, batteries, etc, degrade over time & need ongoing care. We execute a dual approach Maintenance Program: Standard Protocol and an Advanced Protocol.
We take a proactive approach to increase the lifespan of your investment and ensure resident satisfaction, which increases the likelihood of obtaining a renewal and ultimately saving you money on big-ticket repairs.
STANDARD PMP$39.00 (3 times per year)
Inspection and remedy (if applicable) of the following items: Window Seals & Locks, Change Out Air Filters, Check Kitchen Faucet for Tightness, Fire Alarm Batteries, Exterior Door Weatherstripping, Ceiling Roof Leaks, Lightbulbs, Dryer Lint Trap & Ducting, and HVAC Inside and Outside.
ADVANCED PMP$79.00 (1 time per year)
Standard PM Protocol plus Treat AC Drain Line, Wash Exterior Condenser Unit, Grease Garage Door (if applicable), Change Fire Alarm Batteries, and confirm the Doorbell Works.
MAKE READY PERIOD (TURN)
After Previous Residents Move-Out and before New Residents Move-In, our Team coordinates the remediation of the home. We refer to this period as “Turn”. Our staff works tirelessly with our vendors to create what we consider one of the best Move-In experiences in College Station.
We utilize the Move-Out Fees paid by the residents of the home to remediate the bedrooms and most things in the common areas of the home. The Move-Out Fee is not an all-inclusive fee, so for those homes damaged outside the sum of the Move-Out Fees collected, we will pursue the residents for excess damages.
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MAKE READY PERIOD (TURN) CONTINUED
Each of our Investors are responsible for an Owner Make Ready Fee. This fee typically ranges between $300-450 dollars for homes that are completely turned. For those homes that have partial make-readies, we prorate that charge based on the number of bedrooms turned.
This Owner Make Ready Fee covers coordination costs, Home Inspections, Lock Changes, Air Filter Change, Additional Staffing, Preventative Maintenance, and other tasks that help make the home just right for its new residents.
OWNER PACKETS & DISTRIBUTIONSEach month you will receive an Owner Packet and Distribution by the 13th. In the event the 13th falls on a holiday or weekend, we amend the distribution date for that month to the banking day closest to the 13th.
When distributions are performed, you will receive two emails: 1) ACH Receipt This is simply a receipt showing you that an ACH has been initiated between The Barracks Management Group and your account on file. 2) Owner Packet The Owner Packet is accompanied by an Owner Statement Letter, which is how our team updates you on things that have taken place during the month, Pre-Leasing Status, and what to expect. You will find a link that will take you to your Owner Packet, which will show you your Owner Statement, Delinquency Report, and 12-Month Cash Flow Report.
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QUESTIONS?We’re happy to answer any questions you may have. Please contact one of the following team members.
Property Manager
Ronnie Jimenez979.557.2684
Leasing Manager
Gage Loflin979.307.5314
Director of Sales
Drew Jeffress
