United Property Associates - Single Family Rentals United Property Associates has a division specializing in Management of single-family homes. The Staff which handles these rentals is separate and distinct from the apartment rental staff. These agents specialize only in single-family rentals with a very high level of service because of the high quality of these properties and residents with whom we interact on these communities. INITIAL INSPECTION The property is inspected by the Property Manager (if vacant) as soon as keys are turned over. The interior and exterior inspection is made to provide UPA with a thorough listing of the condition of the property. The inspection is made room-by-room to note the condition of the property and to list any deficiencies. At this time a maintenance list is prepared and given to the owner for review. IN-HOUSE LISTING The rental listing is given to office personnel, to the front desk and to our other rental agents. This listing is also given to all on-site rental managers. All United Property Associates' employees refer potential clients to other UPA sites if they cannot suit a prospective resident's needs. PROPERTY SHOWING Showing of single-family property is scheduled through telephone calls that are received in our office and are carefully screened prior to a showing to attempt determination of financial qualifications and property offering to resident needs. All properties are shown on a one-to-one basis with rental agent and prospective residents. LEASE SIGNING After the applicant is approved, the security deposit is paid in certified funds. The lease is carefully reviewed by the agent and the applicant page-by-page to ensure complete understanding of all lease provisions. The resident will also receive information regarding and explaining preventive maintenance. A copy of the Rules and Regulations are also provided if residents are moving into a property that is governed by a condominium or homeowners association. GOALS Improvements in cash flow are made, not by skimping on repairs and maintenance, nor by lowering rents to improve occupancy, but by maintaining tight and competitive bidding for supplies and services. We also maintain all rental properties with the use of our full-time maintenance people. The only jobs for which outside companies must be used are those which require some special, infrequent skill or specialized equipment where it is not cost effective for UPA to maintain such infrequently utilized personnel or equipment. Maintenance personnel are certified and equipped to recover and recycle Freon in accordance with federal EPA regulations. ACCOUNTING United Property Associates brings years of professional experience in effective administration of all areas of financial management. Budget projections, establishing operating procedures and maintenance of proper records for audits and tax reports are but a few of the areas of expertise required to provide successful communication with both a community's Owners and its accountant. Our data processing systems are state of the art, with detailed reporting capabilities. ADMINISTRATIVE United Property Associates offers the leadership and administrative skills necessary for the smooth operation of your property. Because attention to detail and timely execution of paperwork is critical, we customize procedures to ensure satisfactory response to requests, and compliance with the numerous regulations that govern rental property. FINANCIAL Timely and reliable reporting, stable and efficient bank relationships, and accurate and prompt deposit of funds is basic to good financial management. Further, regular advice on replacement reserve balances and expenditures is a keystone to a property's financial quality and stability. In addition to the administrative support, there is also great depth of support in the Accounting Department as represented by the chart below. It is apparent, again, through UPA's commitment to excellence that significant resources have been committed to personnel in the accounting function to ensure the greatest accuracy and highest performance in accounting procedures, so that funds are promptly and accurately coded and deposited into the client's bank account, that financial statements are complete, accurate, and provided on a timely basis, and that other financial duties are carried out promptly and professionally. It is evident from the supervisory process that adequate personnel are available to assist anytime there are problems or unusual circumstances requiring dedicated time in the Accounting Department. The assignment of accounting duties to specialized staff rather than requiring Managers to devote time to accounting routine allows Managers to spend more time managing your property and less time with clerical duties. Of course, this is a plus for the Owner since it allows Managers to be more specialized in their efforts and dedicated to handling the major affairs of the properties. ORGANIZATION AND LEADERSHIP United Property Associates is indeed fortunate to be of sufficient size and breadth to be able to provide outstanding support for its management staff. The flow of support is represented by the chart below. No other management company in Hampton Roads provides such in-depth support, both qualitatively and quantitatively, as does United Property Associates. Managers have the assistance of Accounting Representatives to handle inquiries and questions regarding correspondence to the Management Company, as well as inquiries regarding account balances. No other company in Hampton Roads provides this high level of assistance to its Managers, proven educational and leadership qualities and success as measured by internal growth and service to its client communities. PHILOSOPHY Property management is approached as a business with a business relationship established and maintained by owners, personnel and property managers. As a company, as a team, and as individuals we always strive to meet our responsibilities and, if necessary, go one step beyond. UPA is a service organization and firmly believe that we have to earn that title every day. Every aspect of our management system whether it is daily bookkeeping, meeting the plumber in the middle of the night, or collecting rent is based on a philosophy of service and we ant to be able to extend this service to you. United Property Associates can significantly improve your property. UPA is not a real estate sales company, and does not solicit sales contracts; UPA is totally and completely in the property management business. You will find the management fee structure to be competitive. This, along with lower operating costs, will mean greater increases in cash flow for the property owner. We look forward to your call, letter, or e-mail to allow us to personally discuss our outstanding service to you. Thank you for your interest in UPA.