|
All but a few of the approximately 25 buildings managed by DePaul Management Company are owned by its officers or employees. DePaul
also provides rental and management services on a selective basis for other apartment building owners whose buildings are located on the North Side of Chicago.
Generally, DePaul charges a management fee of six per cent of the gross rentals of the properties that it manages; the building owner
also reimburses DePaul for maintenance, repair expenses and other out-of-pocket expenses that DePaul may incur in the course of its management of the building. DePaul’s management services include at least the
following:
1. We will advertise, show, rent and lease your apartment for no additional charge other than the reimbursement of our out-of-pocket
advertising expenses.
2. We will communicate with your tenants, responding to their requests for service, answering questions and generally dealing with
their problems and concerns without any involvement by the building owner.
3. Our permanent management and maintenance staff will be available twenty-four hours a day to respond to requests for service and, if
necessary, arrange for any repairs that may be required; the building owner will be consulted before any significant repair expenses are incurred.
4. We will contact and deal with appropriate agencies of the City of Chicago and of the State of Illinois and make whatever filings or
take whatever action may be necessary or appropriate to keep the building in compliance with the rules and regulations of these governmental bodies.
5. We will collect the rents in as timely a manner as possible and, if desired, pay all operating expenses and mortgage payments for
the owner from these rents.
6. We will provide the owner with a monthly summary of operating income and expenses and of other income and disbursements and will also
provide summaries at year-end in connection with income tax preparation.
7. We will provide the owner with recommendations as to any possible additional improvements that we believe might be appropriate or
desirable in order to maximize the rental income of the property. |
