Responsibilities

Alder’s focus on “best practices” is designed to deliver value added services to the most important people in our organization, our property owners and residents. We accomplish this by implementing the following:

  • Notify Alder of any ownership change or imminent Owner change for the managed property.
  • Supply Alder with complete and accurate information so that Alder can service the management account properly.
  • Review Owner statements monthly and notify Alder of any discrepancies found as soon as possible.
  • Support Fair Housing Laws and Guidelines, as well as all necessary legislation.
  • Maintain an adequate current insurance policy for your property; review property insurance yearly and update as needed; and, name Alder as an additional named insured on the policy.
  • Pay mortgage, property tax and insurance when due.

Keep the property ‘habitable’:

  • Lockable doors and secure windows that are not broken.
  • Clean dwelling at time of move-in.
  • Working heating system.
  • Working electrical system that meets code requirements.
  • Plumbing system that is functional and not leaking.
  • Secure roof with no leaks.
  • Insect and rodent free environment.
  • Smoke detectors, properly located and functional.

Generally the better condition your property is in, the better quality Resident we will get you! Alder staff is equipped to help you with all “make ready” preparations as needed.

Insurance

You should advise your insurance company that the property will be a rental unit. Make sure that you have adequate property and liability insurance coverage. In order to protect your investment the amount of insurance should equal the replacement cost of the property. To satisfy yourself that you have adequate coverage we recommend you contact your insurance agent for specific details.

If your property is vacant for an extended period of time (typically 30 days or more - check with your insurance agent), request that your insurance agent add a vacancy clause to your policy. Without this clause your insurance could be invalid.

The Property Management Agreement requires the Owner to carry insurance adequate to protect all parties. We must be provided copies of coverage no later than thirty (30) days after signing the Property Management Agreement.