Recording: Leasing, email templates, MLS updates, and commission tracking

Overview:

1. Handling Leasing Leads & Email Templates

• Leads: Unrepresented tenant leads are sent to specific realtors (e.g., Kelly Lopez).
• Email Templates:
  • Templates should be saved in Gmail for efficiency.
  • To save a template, compose the email and go to “More Options” → “Templates” → “Save draft as template.”
  • These templates help quickly respond to leasing leads and inquiries.
• Abel will provide pre-written templates for quick responses.

2. Updating MLS Listings

• Active Listings: A property remains "Active" until an application is approved.
• Status Updates:
  • "Active Under Contract": When an application is approved.
  • "Pending": When a fully signed lease is received.
  • "Leased": When the tenant has moved in.
• Checking MLS: The main dashboard shows current active, pending, and closed listings. Always sort by "Closed Date" to verify accuracy.

3. Lease Commission Tracking

• Spreadsheet Updates: Each time a lease is completed:
  • Enter lease start date, property address, monthly rent, commission percentage, and leasing agent details.
  • Leasing commissions are typically 30% of one month’s rent.
  • Complete Controller uses this sheet to process payments.
• Application Processing & Realtor Payments:
  • Tenant applications must be linked to their representing realtor.
  • Ensure leasing invoices and W-9s are received for payments.

4. Accounting & Workflow Coordination

• Two Accounting Teams:
  • Complete Controller: Handles corporate finances, including payroll, membership services, and leasing commissions.
  • APM Help: Manages rent payments, security deposits, tenant ledgers, and maintenance costs in AppFolio.
• Daily Responsibilities:
  • Monitor the leasing commission spreadsheet daily.
  • Coordinate with Abel for MLS updates and status changes.
  • Ensure tenant and property records are up to date.

5. Next Steps & Follow-Up Actions

• MLS Training Session: Abel & Bilal will schedule an MLS-specific training.
• Workflow Documentation: A structured workflow will be created based on this training.
• Rental Verification Process: Forward rental verification requests to Abel for processing.

Final Notes:

• Accuracy in MLS status updates is crucial for proper leasing tracking.
• Email templates should be used to maintain response efficiency.
• The leasing commission spreadsheet ensures correct realtor payments and should be kept current.
• Daily check-ins on leads, MLS, and commission tracking will streamline operations.

LEASE COMMISSION SPREADSHEET

It's crucial that we verify the correct commission rates, as we have owners at 80%, 90%, and 100%. I’ll walk you through how to check these rates (lease fees—in the property page) in AppFolio and to ensure that this is done for every property moving forward. Please pay close attention to the adjustments we need to make to avoid overcharging owners or overpaying ourselves.