Specifications include, but are not limited to: The Contractor shall provide general day-to-day oversight and operations of the property. The Contractor shall be responsible for the following standard property management functions and comply with Community Development Block Grant Program (CDBG) regulatory requirements, CDBG program income requirements, and the HOME Investment Partnership Program (HOME) income limits and HOME maximum rent requirements. The Vendor shall assume full responsibility for all financial management responsibilities in accordance with Generally Accepted Accounting Principles (GAAP); maintain financial records and receipts pertaining to supervision, management, care, and operation of the properties, all of which shall be subject to an annual audit. Property management services to be provided by the Contractor shall include at a minimum, but not be limited to the following: Draft and implement a management plan for the City of Mesa-owned properties. Draft and implement a market/stabilization plan to maintain full occupancy and appropriate screening of applicants. Apartment marketing and leasing. Lease execution. Collection of all rents and escrow deposits, deposit of all collected monies in city-designated accounts, and maintain suitable city-designated reserve accounts. Pursue and collect rent delinquencies. Enforce lease and lease addendum.
