Reeder Asset Management Procedures

Table of Contents

General 

  1. Rejected Payments and Certified Funds Procedure

Maintenance

  1. On Call/After Hours Procedure
  2. Work Order Status Procedure

Move Outs

  1. Final Walk-Through Procedure

Residents

  1. Adding an Animal Procedure
  2. Late Fees and Late Fee Removal

General

Rejected Payments and Certified Funds Procedure

When a payment is rejected due to insufficient funds, Appfolio will automatically post an NSF fee charge to the payee’s account. The payee will receive an email notification that their payment was rejected. 

As an employee, you can also receive this email notification by doing the following:

  1. Navigate to your ‘My Settings’ In Appfolio 
  2. Under ‘Payments and Accounting’ check the box under ‘Tenant online payments are rejected’ 

This is an example of an email notification: 

Resident

When a Resident has a rejected payment Appfolio will automatically disable online payments and enable Certified Funds. Below is an example of where you can find what payment options are available to a Resident.

The Collections Coordinator is responsible for reviewing the account by doing the following: 

  1. Review the Tenant Ledger to determine if this is the Resident’s first rejected payment
    1. If the Resident hasn’t had a rejected payment before:
      1. Text the Residents the ‘NSF Text (First Time)’ canned message via the Emails & Texts Google Doc 
      2. Populate a Delinquency Deal and assemble a 3 Day Pay or Vacate. Contact the Property Manager to deliver the notice.
      3. Create a task to monitor the Tenant's payments. Once payment is received, enable online payments.  
    2. If the Resident has had multiple rejected payments before:
      1. Text the Residents the ‘NSF Text (Multiple)’ canned message via the Emails & Texts Google Doc 
      2. Populate a Delinquency Deal and assemble a 3 Day Pay or Vacate. Contact the Property Manager to deliver the notice.
      3. Create a task to enable online payments 6 months from the day you changed the payment method
  2. Email an Electronic Cash Slip to the Resident via the Tenant page in Appfolio. Reference this Article 
  3. Make a note on the Tenant Page using the ‘NSF (Note in Appfolio Tenant Page)’ canned message via the Emails & Texts Google Doc 

Owner

When an Owner has a rejected payment the team member who originally asked for the contribution is responsible for notifying the Owner of the rejected payment. 

 

Maintenance

On Call/After Hours Procedure

Reeder Asset Management may require you to be on call. A team member is to be on call no longer than 7 consecutive days. The following procedure should be followed when on call: 

Appfolio work orders are to be reviewed on a daily basis. On Weekends and Holidays, Appfolio work orders are to be reviewed 3-4 times a day. The following work order statuses should be reviewed: 

  • New
  • Assigned
  • Waiting

In the event, an emergency arises proceed to do the following:

  1.  Go to the Maintenance Deal Pipeline in Hubspot
    1. Search for the address/unit to find the deal
    2. If there isn’t a deal, manually create one. Assign the deal to the Maintenance Coordinator

 

2. Format the deal by following the maintenance checklist in Hubspot

3. Contact the tenant to troubleshoot using the ‘Work Order Emergency Protocol’ document
    1. If troubleshooting is successful, notate this within the Appfolio work order and mention the Maintenance Coordinator 
    2. If troubleshooting is unsuccessful, proceed to the next step

4. Find a Vendor to assign the job by using our ‘Preferred Vendor List’ and contact them to see if they are available

    1. If they are not available, continue to reach out to other preferred Vendors
    2. If they are available, ask for an estimate. It is common that a Vendor may have to provide a rough estimate until they arrive at the property to get a full diagnosis. 
5. Notify the Owner of the emergency
    1. Only call the owner between 5 am - 9 pm. Otherwise, email them with the emergency and reach back out during those hours.
    2. If the owner wants to do the work themselves, make a note in the Appfolio work order to state this and tag the Maintenance Coordinator. 
    3. If the owner wants to use another Vendor and/or do the work themselves, explain that they will need to coordinate scheduling with the Tenants and provide the Tenant’s contact information and note this within the deal and tag the Maintenance Coordinator. Then skip to item 8. of this checklist. If they would like to proceed with our Vendor, proceed with the checklist.
    4. Create a note in the maintenance deal using snippet #maintenancerequestownerfunds to see if the owner needs to make a contribution. Print the owner statement to PDF and attach it to the note.
    5. If a contribution is needed, reach out to the owner to do so. In a true emergency, we may not have the time to wait for a contribution. You’ll have to make that call. Set up a follow-up task to confirm a contribution is made. 
6. Track the estimate via Appfolio
    1. Open the work order in Appfolio and select manage estimates.
    2. Enter the vendor, the date received, the amount, and mark Approved *Note that marking the estimate approved is what holds out the funds from the Owner’s account.
    3. If an official estimate is received, attach it to the estimate via the work order. 

7. Send the Vendor the work order

    1. Via the work order, select edit. Enter the vendor instructions to include the following:

      1. To proceed with the work via the estimate
      2. Provide the estimated cost of the job
      3. A phone number to contact you in the event the job will exceed the original estimate and/or if they have additional questions
      4. Your name
    2. Assign the Vendor and select to email them a link and to request confirmation of receipt and save.
    3. Follow up with the Vendor to ensure they received the work order where it’s an emergency.
8. Notify the Tenant via emailing and texting them via the work order. Provide a time frame in which they should be hearing from the Vendor. 

The expectation for when on call is to ensure that any maintenance emergencies are dealt with quickly and that the Owners and Tenants are communicated with frequently. It is common that a  maintenance emergency starts after hours and will require follow up during business hours. In this case, the Maintenance Coordinator will be responsible for the work order during business hours. However, it is expected that you continually follow the progress until the work order has been completed.

Work Order Status Procedure

Work Order Statuses: 

  • New
  • Waiting
  • Assigned
  • Scheduled
  • Work Completed 
  • Completed “No Bill Needed” 
  • Completed 
  • Canceled

Work Order Types: 

  • Internal
  • Resident
  • Unit Turn

The lifespan Expectation of each Work Order Type from New - Completed

  • Recurring Work Order: can vary 
  • Internal Work Order: 5 business days
  • Resident Submitted Work Order: 5 business days 
  • Unit Turn Work Order: 30 days

NEW

  • Only an Appfolio user or Resident can create a work order
  • If the work order status is New, it hasn’t been assigned to a vendor or team member. Action is needed. 
    • From inside the work order 
    • From the work order page in Appfolio
  • New work orders should be reviewed at the beginning and end of the business day. Work orders should be monitored throughout the business day. The expectation is that urgent work orders are seen, reviewed, and addressed as quickly as possible. 

WAITING

  • Only an Appfolio user can move a work order to this status
  • The work order status is marked as waiting for one of the following reasons:
    • Gathering more information from the Owner and/or Resident
    • Trying to find a vendor for the job
    • On hold to do at a later time i.e. cannot be completed within 30 days
  • When moving a work order to this stage, the expectation is that the team member is entering a note to explain why it is in this stage
    • From inside the work order
    • From the work order page in Appfolio
  • Waiting work orders should be reviewed and followed up as often as necessary. The expectation is that the Owner and Residents are updated frequently. 

ASSIGNED

  • Only an Appfolio user can move a work order to this status
  • The work order status is marked as Assigned for one of the following reasons:
    • Only Assigned to an Appfolio User
    • Only Assigned to a Vendor 
    • Assigned to a Vendor and an Appfolio User
  • To see if an Appfolio User is assigned to a work order, review the work order page in Appfolio or open the work order directly. 
    • From inside the work order
    • From the work order page in Appfolio
  • To see if a Vendor is assigned a work order review the work order page in Appfolio or open the work order directly. 
    • From inside the work order
    • From the work order page in Appfolio
  • The Vendor can Accept or Deny the work order
    •  View the action log via the work order in Appfolio or the work order page in Appfolio
    • From the work order page in Appfolio
  • Assigned work orders should be reviewed and followed up on within 1-3 business days depending on urgency. The expectation is that we are getting confirmation from the Vendor that they have accepted the work order. If accepted, a scheduled date is needed.
    • If the Vendor is non-responsive or denies the work order re-assign to another Vendor

SCHEDULED

  • A Vendor and an Appfolio user can move a work order to this status
    • The Vendor can schedule this through the Vendor portal
    • An Appfolio user can do this via the work order
  • Once a scheduled date is entered the status is automatically updated 
    • View the action log via the work order in Appfolio or the work order page in Appfolio
    • From the work order page in Appfolio
  • The expectation is that the Vendor is followed up with once the scheduled date has past

WORK COMPLETED

  • Only a Vendor can move a work order to this status
    • When a work order status is Work completed, the Vendor has completed the work and marked it work completed via their vendor portal
    • From inside the work order
    • From the work order page in Appfolio
  • The expectation is that the Maintenance and/or Move-out  Coordinator is reviewing the work order to ensure that an invoice is being submitted within 5-10 business days

COMPLETED “NO NEED TO BILL”

  • Only an Appfolio user can move a work order to this status
  • A work order should only be moved to this status if the work has been completed and one of the following circumstances are met:
    • the Vendor is not billing
    • The Owner did the work
    • The work was completed on another work order
  • When moving a work order to this stage, the expectation is that the team member is entering a note to explain why it is in this stage
  • It’s important to note that when a work order has an approved tracked estimate, funds will be held from the Owners account for that amount. When a work order is moved to this stage and the tracked estimate isn’t changed to pending, the funds will continue to be held from the Owners account.

COMPLETED

  • Only an Appfolio user can move a work order to this status
  • A work order should only be moved to this status if the work has been completed and has been billed by the accounting department
    • From inside the work order
  • When a work order is moved to this stage, the expectation is that the Maintenance and/or Move-out Coordinator does the following: 
    • Ensure it’s billed correctly
    • The Vendor completion notes, via the invoice, are reviewed to see if any additional work is needed 

CANCELED

  • Only an Appfolio user can move a work order to this status
  • The work order status is marked as canceled for one of the following reasons:
    • The work was no longer needed 
    • The work wasn’t completed in a timely manner and no longer needed
    • The Owner has requested the work not be completed 
    • The work order was estimated and the Owner requests that the estimate be denied. *note another dash work order may need to be created in order to get another estimate
  • It is important to note that if an Owner or Resident requested the work order be canceled, further investigation is needed to ensure that a habitability issue isn’t being left unaddressed
  • When moving a work order to this stage, the expectation is that the team member is entering a note to explain why it is in this stage. In addition, the Owner and Resident are to be updated accordingly.

Move Outs

Final Walk-Through Procedure

Once a turnover has been completed, the Move Out Coordinator will trigger a ticket for the property manager (this is done via the Move Out coordinator’s checklist). The expectation is that the Final Walk-Through is completed within 3 business days from when the ticket is created. If there is a scheduled move-in, the expectation is that the Final Walk-Through is completed with enough time for any repairs needed to be addressed before the Tenant(s) move in. The property manager will follow the Final Walk-Through checklist within the ticket. 

The intention of the Final Walk-Through is to ensure that the property is move-in ready. If additional work is required, the property manager will trigger a ticket for the Move Out Coordinator. The ‘Repairs Needed’ ticket is to be completed within 3-5 business days. If there is a scheduled move-in, the expectation is that the repairs are addressed before the Tenant moves in. 

Residents

Adding an Animal Procedure

When an applicant or Resident requests to add an animal(s) to their lease you must first verify whether they are making a request to add an animal or request a special accommodation i.e. ESA. If they are wanting to add an Emotional Support Animal review our Emotional Support Animal Procedure (TBD). 

 Otherwise, check that that property/unit is pet friendly and if there are any pet restrictions. If the property is not pet-friendly, the request would be denied.  If the property is pet-friendly the following procedure should be followed. 

Direct the applicant and/or resident to https://reederproperties.petscreening.com to complete a pet profile for their animal(s). Once the pet profile is complete, an addendum to add the animal(s) will be sent to the applicant and/or resident. A $100 administration fee is required per animal at the completion of the addendum. The Resident is required to pay a monthly pet monitoring fee per animal equal to $50 or 5% of monthly rent, whichever is greater.  

 

Late Fees and Late Fee Removal 

Late Fee Amount and When They Post

A late fee is issued to a Resident at 5:00 PM on the day the grace period has expired and they have not paid rent in its entirety. Late fees are equal to 10% of one month's rent or $75, whichever is greater. 

Late Fee Removal

Residents who pay for the Resident Benefits Package 

Residents that fall under this category are eligible to have a late fee removed once per lease term if the following criteria are met:

    • Contacted Management prior to the 1st of the month notifying us that they will be late
    • Request that a late fee be halved via written notice (i.e. text, email)
    • The Resident understands they are expected to pay their balance in full no later than the 9th of the month by 5:00 PM. Any exception to that date will need the approval of the Regional Manager is needed.

If the above criteria are met, the Senior Manager responsible is to be notified for approval. Once approval is given, a ticket would then need to be created for accounting by following these instructions:

    1. Navigate to the Tenant Contact Page in Hubspot
    2. Under Tenant Information (Subject to change if we create an automation section) select ‘Yes’ under ‘One-Time Late Fee Removal’
    3. Once the Ticket is Populated, create a note within the ticket using Snippet ‘Late Fee Refund’ and fill out the Snippet accordingly
    4. Notify the Resident that the Late fee will be refunded

Residents whom DON’T pay for the Resident Benefits Package 

Residents that fall under this category are eligible to have one late fee halved once per Tenancy if the following criteria are met:

    • The Resident has no record of a halved late fee during their Tenancy 
    • Request that a late fee be halved via written notice (i.e. text, email)
    • The Resident understands they are expected to pay their balance in full no later than the 9th of the month by 5:00 PM. Any exception to that date will need the approval of the Regional Manager is needed.

If the above criteria are met, the Senior Manager responsible is to be notified for approval. Once approval is given, a ticket would then need to be created for accounting by following these instructions:

    1. Navigate to the Tenant Contact Page in Hubspot
    2. Under Tenant Information (Subject to change if we create an automation section) select ‘Yes’ under ‘One-Time Late Fee Removal’
    3. Once the Ticket is Populated, create a note within the ticket using Snippet ‘Late Fee Refund’ and fill out the Snippet accordingly
    4. Notify the Resident that the Late fee will be halved

Residents may have a Late Fee Waived if the following situations occur:

  • If a payment is received by mail and the envelope is postmarked 7 days prior to the 1st of the month. 
  • If Management finds that they made a mistake 
  • The Resident has an NSF, but made another payment in full prior to rent being considered late