Our Guiding Philosophy:
Because Rent Stabilization controls your rent, you have to control everything else! You can't afford to take anything for granted. The days are gone - if they ever existed - when you could sit back and watch your real estate investment grow by itself. It takes sweat and creativity
Our Company
Our Mission
The successful management of rental, cooperative and condominium housing.
Company Profile
The Wavecrest Management Team Ltd. is a full service management company that manages approximately 4,500 residential units in over 75 buildings in the New York metropolitan area. Our specialty is the management of rental and cooperative/condominium housing with a majority of the buildings we manage being located in The Bronx, Manhattan, Queens and Brooklyn. Wavecrest employs 25 full-time individuals to carry out the services necessary to properly manage its portfolio of units. In addition, we have an attorney on-site in our main office that handles our landlord/tenant work in The Bronx.
The cornerstone of our management strategy is a firm belief, given the necessary resources, that we can and have been successful in the management of the residential buildings that we have been chosen to manage. We also believe that: 1) you must choose a skilled, experienced staff to do the job (there is no substitute for talent); 2) that the keys to success are continuous communication, constant follow-up and persistent follow-through and; 3) you can take nothing for granted.
The principals of The Wavecrest Management Team Ltd. are Mr. Frederick J. Camerata, Executive Vice-President and Chief Operating Office and Mrs. Susan Camerata, Chief Financial Officer.
Responsibilities
Cash Collections
Printing and distribution of monthly rent and/or common charge bill.
Daily collections and depositing of rent and/or common charges
Oversee daily receipts to ensure timely collections
Procedure for collection of arrears:
- Manager and/or telephone contact
- Arrears letter
- Rent demand notice
- Legal action
Cash Disbursements
Review of all vendors invoices for approval prior to payment.
Printing and distribution to all vendors.
Monthly reporting
Preparation and distribution of monthly financial reports which are as follows:
- Summary of receipts and disbursements.
- Detail of collections by tenant/unit owner.
- List of unpaid vendor obligations.
- Comparison of budget to actual results.
Building employees
Supervision of building employees.
Review, approval and distribution of all building employees payroll on a weekly basis.
Track employee sick days, holidays and vacation time.
Negotiations of union contract, if any.
Building Maintenance
Maintenance of all common areas
Purchase of building supplies
Obtain any and all contracts:
- Elevator
- Boiler
- Exterminator
- Air Conditioning, heating and ventilation systems
Obtain any bids that are necessary.
Review and maintain the following files
- Building
- Tenant/Unit owners files
- Paid bills
- Accounts payable
- Insurance files
Responsibilities unique to Cooperative and Condominiums
Attend monthly board meetings.
Preparation and distribution of annual budget to all unit owners.
Information mailing to owners.
Review and make recommendations to Board on all sales and sublease applications.
Maintain relationship with each unit owner on a one-to-one basis.
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