Property Management Discounts
- 10% discount for employing a Professional Property Management Company
In order to qualify for this discount, a facility must employ a professional property manager who provides a minimum level of service. A brief overview of the minimum service standard is provided below:
- Complete and annually update a Facility Audit
- Manage, organize and pay general operating expenses relating to the facility management
- Provide and secure housing contracts, including security deposits, from the undergraduate tenants
- Authorize and pay expenses incurred to rectify immediate maintenance needs
- Secure and monitor the facility during extended school breaks
- Collect rent and all deposits
- Complete an initial walk through and check out process with each tenant. Any tenant related damage will then be deducted from the tenant security deposit
- Development of an annual operating budget
- Proof of liability insurance for property manager
A facility wishing to apply for this discount needs to submit the following documentation:
- A copy of the current year's contract with the respective property manager outlining their management responsibilities
- Copy of the housing agreement utilized by the property manager
- A copy of the most recently completed Facility Audit
- 10% discount for modern, safe facilities.
Qualifying locations have been constructed or had major renovations (i.e. full replacement of electrical and plumbing) after January 1, 1990 and have ONE or more of the following requirements:
- Central Station fire and burglar alarms
- No smoking and candle burning policy incorporated into a Housing Agreement
- Resident advisor or house mother living on site
A facility wishing to apply for this discount needs to submit the following documentation:
- Verification of the construction date for facilities built after 1990
- Complete work orders and scope for electrical and plumbing renovations since 1990
- A copy of the Housing Agreement which contains the smoking and candle burning policy and written statement from a house corporation officer that the agreement is currently utilized
- Written agreement between the Resident Advisor or House Director and the local Housing Corporation outlining daily responsibilities, hours of duty and compensation structure
- 5% discount for the completion of a Strategic Assessment with Fraternity Management Group.
The strategic assessment will focus on volunteer, housing & undergraduate operations. The assessment will include organizational research, a written/email survey of the chapter officers, advisory board and housing corporation board members, discussions with some local volunteers and campus officials and a review of the most current insurance inspections on file. The goal is to assist the advisory board, housing corporation board and undergraduate chapter in operating a solid operation.
The discount provided to a housing corporation that has utilized this tool will be provided for the first policy term, full or partial, and the next full term. The discount provided will not exceed the actual cost of the strategic assessment whether realized in the first partial term or proportionally in the second full policy term.
A facility wishing to apply for this discount needs to submit the following documentation:
- A complete copy of the Strategic Assessment completed by Fraternity Management Group and a brief summary of your organization's plan to adhere to its recommendations.
For information on a FMG strategic assessment contact:
Josh Surridge, FMG
2660 N 1st Avenue
Tucson,
AZ 85719
520-622-0125
Joshua.Surridge@FMGTucson.com
- Newly Installed Fire Sprinkler System
In an effort to encourage the installation of fire sprinklers in Greek housing through insurance premium reductions, we are pleased to offer an increased initial premium discount upon activation of a newly installed system. If your system meets National Fire Code R13 installation, your facility will qualify for an additional premium discount of:
- 50% discount for the first full or partial policy year and subsequent full policy year after installation.
- 30% second full policy term and thereafter
A facility wishing to apply for this discount needs to submit the following documentation:
- Contract invoice outlining the type of fire suppression system installed and areas of coverage
- Contractor's Test Certificates for Interior Sprinkler
- Documentation that the sprinkler system has been tested and approved by the local authority having jurisdiction
- A copy of the yearly service contact with a licensed and insured fire sprinkler contractor
- Completion of the HRH/Kirklin & Co., LLC sprinkler discount form
|
