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.