Daily work order management

[Gary B.]

I just bought a 27 unit complex. I am new to complex of this size and looking for recommendation on best practices to manage property of this size. 2 things that i need advice one:

1. Late fees: How to avoid that property manager not collect rent late on purpose and collect late fees taken out of rent. I noticed a clause later in contract that said late fees is taken out before the rent to owner. 

2. Work Orders / Maintenance: How do you handle daily / weekly work orders getting generated in the property to optimize costs?  

[Nathan Gesner]

1. if the Property Manager is consistently collecting late rent, get on him. The lease says rent is due on the first so he has an obligation to abide by that. Late fees are for occasional corrections. If he's allowing them to pay late regularly then he's not doing his job and there should be consequences. I keep late fees in my management company, but it's probably on 5% of the 400 rentals we manage and it's not often that we have problems from the same tenant over and over. My lease states three late payments in a 12-month period without justification may be cause for termination. 

2. If you have a property manager, they should have this worked out. You shouldn't be involved in tracking work orders. If you are, you are doing it wrong.