Property Management
Operations & Procedures
Book 3 — 29 Sections · 8 Parts
Property Management Philosophy
Property management is a fiduciary profession. Every person who manages a rental property on behalf of an owner assumes a position of trust — with specific duties that are enforceable in Nevada courts and subject to oversight by the Nevada Real Estate Division.
Strata's team members owe fiduciary duties to property owners. In the operational context of property management, they translate into specific behavioral standards:
- Loyalty — every recommendation reflects the owner's best financial interest, not operational convenience
- Disclosure — owners are informed of material developments promptly, without waiting to be asked
- Confidentiality — owner financial information and tenant information are protected and not shared beyond those with a legitimate need
- Accountability — every dollar collected and disbursed is documented, every statement is accurate, every record producible on demand
- Reasonable Care — every team member maintains the professional knowledge and operational competence the owner has a right to expect
The communication standard at Strata is proactive, not reactive: owners are informed of significant developments before they ask, not after they follow up. All material communications are logged in Buildium within 24 hours. If it is not in Buildium, it did not happen from an operational and legal standpoint.
Response standards: owner inquiries acknowledged within one business day and substantively answered within two. Tenant maintenance requests acknowledged the same business day. Vendor communications responded to within one business day.
Systems should not depend upon memory. Every recurring task at Strata has a documented procedure and a corresponding checklist. Documentation standards require:
- Every file contains all required documents, uploaded to Buildium, organized consistently, accessible to any authorized team member
- Every material communication documented in Buildium within 24 hours
- Every maintenance request, work order, and vendor invoice entered in Buildium before work is scheduled and after completion
- Every inspection photographed, organized by room, uploaded to Buildium, and a written report completed within 48 hours
- Every financial transaction documented in Buildium with the supporting source document attached
Risk management at Strata is built into the procedures themselves. A complete move-in condition report with timestamped photographs is the primary protection against an unjust security deposit dispute. A consistent 90-day renewal initiation process is protection against the financial risk of unexpected vacancy. The documentation standard is itself the most powerful risk management tool available to a property management operation.
Roles and Responsibilities
Clear role definition ensures tasks are completed consistently, accountability is clear, and clients receive the service they expect. When everyone knows what they are responsible for — and what they are not — nothing falls through the gap.
Holds ultimate legal responsibility for all property management activity. Reviews and approves all property management agreements before execution, reviews all tenant application decisions before they are communicated, reviews and signs all monthly trust account reconciliations, and reviews all advertising before publication. Same-business-day escalation expected for any significant concern.
Primary point of contact for assigned owner relationships. Responsible for the complete management cycle: onboarding, leasing, maintenance coordination, tenant communication, financial reporting, renewal management, and move-out processing. The Property Manager reviews monthly owner statements before delivery and escalates to the Broker any situation requiring Broker-level authorization.
Manages the leasing workflow from vacancy to move-in. Responsible for coordinating photography, launching listings, responding to inquiries within the same-business-day standard, scheduling and conducting showings, collecting and reviewing applications, initiating screening, coordinating lease preparation and execution, and managing move-in coordination.
Manages all maintenance requests from receipt through vendor dispatch, work completion, invoice processing, and Buildium documentation. Primary contact for vendors. Maintains the approved vendor list, confirms vendor licensing and insurance annually, and flags any pattern of maintenance issues indicating a systemic concern requiring owner attention.
Supports the entire operations team with file management, communication documentation, checklist completion, and system maintenance. Does not perform licensed activities — lease negotiations, screening decisions, rent adjustments, or lease enforcement communications are handled exclusively by licensed team members.
All vendors must be on Strata's approved vendor list before any work is assigned. Approved vendor status requires: current Nevada contractor's license; current general liability insurance certificate; current workers' compensation insurance certificate; and completed W-9. Vendors who allow licensing or insurance to lapse are immediately suspended pending reinstatement.
New Owner Onboarding
Owner onboarding establishes the foundation of the management relationship — setting expectations, establishing the communication cadence, and creating the file structure on which all subsequent management activity depends.
No management activity begins without a fully executed Property Management Agreement (PMA). The Broker reviews and approves all PMAs before execution. The PMA review covers: management fee calculation; maintenance authorization threshold; disbursement schedule; owner reserve requirement; and termination procedure. Signed PMA uploaded to Buildium within one business day of execution.
Captures all operational information Strata needs to manage the property: owner legal name(s) and entity name; all contact information; preferred communication method; banking information for ACH distributions; Tax ID or Social Security number for 1099 reporting; W-9 status; owner's primary goals; and owner's availability for maintenance decisions.
Every managed property must have at minimum one documented emergency contact with name, relationship to owner, phone number, and authorization scope. Emergency contact information entered in Buildium and confirmed annually.
Standard PMA requires owners to maintain a minimum reserve balance in their trust account. At onboarding, the Property Manager explains the reserve requirement and the authorized spending threshold. Owner distributions are not made from a trust account with an insufficient reserve balance without Broker authorization.
- Monthly owner statements delivered by the 15th of the following month
- Same-business-day acknowledgment of owner communications
- Substantive response to owner questions within two business days
- Proactive notification of any maintenance situation above the authorized threshold before work is commissioned
- Annual property inspection with written report and photographs
- Annual rental market analysis at renewal time
- Maintain accurate contact information and notify Strata of changes promptly
- Respond to maintenance authorization requests within 24–48 hours
- Maintain adequate owner reserve balances
- Not contact tenants directly about lease or management matters without coordinating with the Property Manager
- Direct all tenant communications through the Property Manager
Property Setup
Property setup prepares a property for marketing and management in Buildium and in the field. A property not properly set up in Buildium will generate accounting errors, communication gaps, and documentation deficiencies that compound throughout the tenancy.
Every managed property is set up in Buildium before any marketing or management activity begins. The Buildium property record includes: property address and legal description; owner's Buildium account linked to the property; management fee structure from the PMA; maintenance authorization threshold; owner's preferred disbursement date; utility assignment notes; and HOA information. No management activity is processed for a property until its Buildium setup is complete and reviewed by the Property Manager.
A full appliance inventory is completed at property setup for every item included with the property: brand, model, approximate age, and condition. Covers refrigerator, range and oven, microwave, dishwasher, washer/dryer if included, garbage disposal, water heater, HVAC equipment, garage door opener, and any other equipment. Serves two purposes: enables faster maintenance response; provides the baseline for security deposit deductions.
Professional photographs taken at every property setup, before any tenant occupies and before marketing begins. Requirements: wide-angle shots of every room from at least two angles; photographs of all appliances; all bathrooms; all closets and storage areas; garage; all outdoor areas; front and back exterior. All photographs timestamped, organized by room, and uploaded to Buildium. These pre-marketing photographs are the baseline for the property's condition before any tenant occupancy — the most foundational document in the property management file.
Complete key inventory conducted at property setup. Every key and access device counted, documented, and entered in Buildium. One complete set maintained at the Strata office in secure, labeled storage throughout the vacancy period. Keys are labeled with the property address — not the owner's name — for security. The key inventory is updated every time a key transaction occurs.
A Strata-standard lockbox is installed on every vacant property being actively marketed. The lockbox code is recorded in Buildium's property notes — accessible to Strata agents only, never to owners or vendors without express Broker authorization. The code is changed whenever a team member who had it leaves the organization. The lockbox is removed upon lease execution and key release to the new tenant.
Strata Property Management Checklist — V2026
The operational backbone of every new management file. Professional excellence in property management cannot depend on any individual's memory. The Checklist is the quality control tool that ensures professional judgment is applied to a complete set of information, every time.
| ☐ | Signed Property Management Agreement — executed and uploaded to Buildium |
| ☐ | Signed Duties Owed — executed and uploaded to Buildium |
| ☐ | Signed Consent to Act — executed and uploaded to Buildium |
| ☐ | W-9 signed by all persons/entities receiving rent distributions |
| ☐ | CIC Information & Property Authorization completed (if applicable) |
| ☐ | HOA Authorization Letter signed by all owners (if applicable) |
| ☐ | Rental Property Questionnaire completed and reviewed |
| ☐ | Property Manager file review — initial and date |
| ☐ | Keys & Remotes received from owner — count documented in Buildium |
| ☐ | Lockbox installed at property — code recorded in Buildium |
| ☐ | Professional property photographs taken and uploaded to Buildium |
| ☐ | MLS listing created and published |
| ☐ | Photos published on MLS and Strata website |
| ☐ | Sign placed at property (if owner approved) |
| ☐ | Application filled out completely — all fields |
| ☐ | Application Page 4 signed by all applicant(s) |
| ☐ | Credit report run and reviewed |
| ☐ | Rental history verified — prior landlords contacted |
| ☐ | Pay stubs collected — minimum 2 most recent |
| ☐ | Government-issued photo ID(s) collected — all adult applicants |
| ☐ | Security deposit collected within 24–48 hours of approval |
| ☐ | MLS status changed to 'C' — Contingent |
| ☐ | Lease Agreement — prepared and ready for signature |
| ☐ | Duties Owed — prepared and ready for signature |
| ☐ | Consent to Act — prepared and ready for signature |
| ☐ | Property Manager review — Lease, Duties Owed, and Consent to Act |
| ☐ | Executed contract copy emailed to tenant(s) |
| ☐ | Lease Agreement — fully signed and completed by all parties |
| ☐ | Move-In / Move-Out Condition Report completed with photos |
| ☐ | Drug Free Housing Addendum — signed by tenant(s) |
| ☐ | Illegal Activity Addendum — signed by tenant(s) |
| ☐ | Addendum 1 — signed by tenant(s) |
| ☐ | Pet Addendum — signed by tenant(s) (if applicable) |
| ☐ | Smoke Detector Agreement — signed by tenant(s) |
| ☐ | Quarterly Inspection Card — completed and filed |
| ☐ | Maintenance Emergency Number Card — provided to tenant |
| ☐ | Keys & Remotes — complete set confirmed and signed receipt from tenant |
| ☐ | MLS status updated to 'L' — Leased |
| ☐ | All paperwork organized and delivered to bookkeeper |
| ☐ | File placed in move-in box — bookkeeper notified |
| ☐ | Owner and tenant added to Buildium platform |
| ☐ | Owner and tenant email added to Strata Universal Contact List |
| ☐ | Keys and Remotes — final count verified and filed |
| ☐ | Physical file stored in cabinet |
Rental Pricing and Market Analysis
Setting the right rental price is among the most consequential decisions in property management. The rental pricing process at Strata is data-driven, market-informed, and owner-approved — not a guess, not a convenience, and not a number chosen to accelerate the leasing timeline at the owner's financial expense.
Before any property is listed, a Rental Market Analysis (RMA) is conducted evaluating currently active comparable listings and recently leased comparables. Comparables selected based on: property type; bedrooms and bathrooms; approximate square footage; geographic proximity; and included amenities. The RMA is documented in Buildium and retained in the property file.
The rental price is set with the owner's written approval. The agent makes a clear recommendation with supporting data — but the pricing decision belongs to the owner. If the owner insists on a price above the recommendation, the agent documents both the recommendation and the override in writing and proceeds. If the property does not lease within a reasonable period, the agent returns with updated market data and a revised recommendation.
If a property has been actively marketed for more than 21 days without a qualified applicant, the Leasing Coordinator presents a price adjustment recommendation to the Property Manager and owner with supporting data. All price adjustments are documented, authorized by the owner in writing, and implemented simultaneously on all marketing platforms.
Marketing and Showings
Professional photography is mandatory for every Strata leasing assignment. Marketing launches within 48 hours of the property being confirmed ready — cleaned, repaired, photographed, and approved for marketing by the Property Manager.
Marketing photographs are taken after the property has been professionally cleaned, after all repairs are complete, and after all personal property from prior occupants has been removed. Photographs taken in a dirty or incomplete property are not published — they are retaken after the property is properly prepared. All photographs edited for brightness, color accuracy, and horizontal alignment before upload.
Listing published simultaneously to: MLS; Buildium's syndication network (Zillow, HotPads, and others); the Strata website; and any additional platforms appropriate to the property type. All listing information confirmed with the owner before publication. Fair housing review conducted on every listing description before publication. No listing goes live without Broker or designated reviewer approval.
All showings by appointment, confirmed at least 24 hours in advance. The Leasing Coordinator arrives before the scheduled time, confirms the property is in showing condition, and greets the prospect at the front. Identity verification requested of all adult attendees before entry. Every scheduled showing logged in Buildium — confirmed, completed, or no-show — with the prospect's name, contact information, and date and time. The showing log is the evidence of equal access to the property in the event of any fair housing inquiry.
All inquiries responded to the same business day — within two hours for phone and text, within four hours for email and platform inquiries during business hours. A guest card is created in Buildium for every inquiring party, regardless of whether they proceed to a showing or application.
Applications and Screening
Strata's rental criteria are published, applied uniformly to all applicants for the same property, and consistent with fair housing law. The same criteria, applied in the same sequence, with the same documentation, for every applicant.
- Minimum household income equal to three times the monthly rent
- Preferred minimum credit score of 620
- Minimum of two years of verifiable rental history
- No evictions within the past three years
- Criminal history reviewed individually — no blanket exclusion policy applies
All criteria applied consistently to every applicant for the same property without exception or deviation based on any personal characteristic of the applicant.
Acceptable income documentation: two most recent pay stubs for employed applicants; two years of tax returns for self-employed applicants; bank statements showing consistent income deposits; Social Security or disability award letters; pension statements; housing voucher documentation. Income from all legal sources is considered equally — no income type is excluded or discounted.
The credit report is reviewed and summarized on the screening worksheet. The review evaluates: credit score against the preferred minimum; payment history patterns; housing-related collections or judgments; recent bankruptcy or foreclosure; and overall credit utilization. The credit score is one factor — the overall pattern of the credit history is equally important.
Prior landlords are contacted directly with a consistent set of questions for every prior landlord: Did the tenant pay rent on time? Were there any lease violations? Was the unit returned in good condition? Were there any neighbor complaints? Would you rent to this person again? Responses documented on the screening worksheet.
All approval decisions made by the Broker or Broker's designee after reviewing the completed screening worksheet. No approval decision communicated to an applicant before the Broker's review. All denied applicants receive an adverse action notice within three business days of the denial decision as required by the Fair Credit Reporting Act.
Lease Execution
Upon Broker approval of an applicant, the Leasing Coordinator prepares the lease and all required addenda in Buildium using the current approved lease template. The lease is reviewed against the Lease Checklist before it is sent to the approved applicant.
Nevada law requires specific disclosures at or before lease signing, all included in the lease package: Lead-Based Paint Disclosure for properties built before 1978; mold disclosure required by NRS 118A.200; owner's contact information as required for owner-managed properties; and any property-specific disclosures identified during onboarding. No lease is sent for signature without all required disclosures attached and reviewed by the Property Manager.
All move-in funds — first month's rent, security deposit, pet deposit if applicable, and administrative fee — must be received and cleared before keys are released. Accepted payment methods: cashier's check, money order, or confirmed ACH transfer. Personal checks are not accepted for move-in funds. The Leasing Coordinator confirms fund clearance with the accounting team before authorizing key release.
At lease signing, the Leasing Coordinator conducts a lease review with the approved tenant covering: rent amount and due date; late fee trigger date and amount; maintenance reporting procedure through Buildium; HOA rules; pet policy; smoking policy; utility responsibilities; renter's insurance requirement; and notice-to-vacate requirements.
Leasing Only / Owner Managed Properties
Strata offers Tenant Placement and Leasing Services for owners who prefer to self-manage after tenant occupancy. Strata provides professional marketing, screening, lease preparation, and move-in coordination — and the engagement concludes upon delivery of possession to the approved tenant.
The leasing-only service is governed by the Exclusive Tenant Placement Agreement. No leasing-only engagement begins without a fully executed Placement Agreement on file. All ongoing landlord obligations — rent collection, maintenance, habitability compliance, lease enforcement, security deposit accounting, and tenant communications — transfer to the owner at possession.
The Owner Acknowledgment — Owner Managed Property is reviewed with the owner in detail before execution. The agent explains: that Strata's role concludes at possession; that all ongoing landlord obligations transfer to the owner; that NRS Chapter 118A governs the owner's ongoing obligations regardless of Strata's initial involvement; and that maintenance, security deposit accounting, and tenant notices are entirely the owner's responsibility from possession forward.
Move-In Procedures
A thorough move-in is the best protection against every kind of move-out dispute. No move-in proceeds until all items on the pre-move-in confirmation are complete — this is not a best-practice recommendation, it is the standard.
Before any tenant move-in, the assigned Property Manager or Leasing Coordinator confirms all requirements are satisfied:
- All move-in funds have cleared
- Fully executed lease and all addenda uploaded to Buildium
- Proof of renter's insurance received and current
- Property professionally cleaned and all prior-tenancy items removed
- All smoke detectors and CO detectors tested and documented
- All keys and access devices ready
- HOA registration initiated
- All utility transfers confirmed
The move-in condition report is completed in the presence of the tenant on move-in day. The agent and tenant walk through the property room by room, documenting the condition of every surface, fixture, appliance, and system. The agent photographs every room from at least two angles. Both the agent and the tenant sign the completed condition report. Signed report and all move-in photographs uploaded to Buildium before end of business on move-in day.
The move-in condition report is the single most important document in the tenancy file from a security deposit perspective — it is the baseline against which the property's condition at move-out will be compared.
Maintenance Workflow
All maintenance requests received through non-portal channels are entered into Buildium within two hours of receipt during business hours. The Buildium work order record is the maintenance file — a request that exists only in a text message or email inbox has not been properly received.
- Emergency — immediate threat to life, health, or property: same-hour dispatch, owner notification within two hours
- Urgent — significantly affects habitability but no immediate danger: dispatched within one business day
- Routine — non-urgent repairs, cosmetic issues, general maintenance: scheduled within five business days
Strata's standard authorization threshold is $500 per incident. Repairs that exceed this threshold require written owner approval before work is commissioned. Written approval means email or text confirmation from the owner — verbal approval is documented in Buildium with the date, time, and content, followed by written confirmation as soon as practicable. Emergency repairs above the threshold may be authorized by the Property Manager with same-day owner notification.
Vendors submit invoices within 14 days of work completion. All invoices reviewed by the Maintenance Coordinator for accuracy. Approved invoices uploaded to Buildium, linked to the specific work order and the specific owner account, and submitted for payment. No invoice is paid without a corresponding work order in Buildium and a reviewed, uploaded invoice.
Emergency Maintenance
Emergency maintenance encompasses any condition posing an immediate threat to life, health, safety, or significant property damage. Strata maintains a 24-hour emergency maintenance line for genuine emergency response.
Same-hour emergency. Tenant instructed to shut off the main water supply if the leak is severe and they can safely do so. Maintenance Coordinator dispatches a licensed plumber immediately and notifies the Property Manager. Photographs of the affected area requested from the tenant before any remediation begins. Owner notified within two hours. All details documented in Buildium — date and time of discovery, source of water, areas affected, vendor dispatched, and remediation steps taken.
Priority is tenant safety — 911 is called first. The Property Manager is notified immediately. No vendor is dispatched to a fire-affected property until fire department clearance has been obtained. The owner is notified as soon as the Property Manager is aware. Insurance claims coordination begins immediately under the Broker's direction.
HVAC failure in Las Vegas — where summer temperatures regularly exceed 110°F — is a habitability emergency. Any HVAC failure leaving a property without functional cooling when outdoor temperatures exceed 90°F is treated as same-day emergency dispatch. Owner notified within two hours. If HVAC cannot be restored the same day, the Property Manager discusses interim accommodations with the owner.
Property Inspections
Property inspections document the property's condition during the tenancy, identify maintenance issues before they become habitability problems, and confirm lease compliance. Regular inspections protect the owner's investment and provide documentation to support security deposit deductions if warranted.
Strata conducts an annual property inspection for every managed property. Scheduled with at least 24 hours' advance written notice to the tenant as required by NRS 118A.330. The annual inspection documents: condition of every room compared to the move-in baseline; visible maintenance needs; lease compliance concerns. Photographs taken of every room and every notable condition. Written inspection report completed within 48 hours, uploaded to Buildium, and shared with the owner.
When a lease violation is reported or suspected, the Property Manager may schedule a property inspection to document the condition. The 24-hour notice requirement applies equally to violation inspections. The violation inspection is documented with a written report and photographs uploaded to Buildium and forms the evidentiary basis for any lease enforcement action that follows.
Rent Collection and Delinquencies
Rent due the 1st of the month; courtesy period through the 4th; late fee assessed on the 5th for any rent not received. All rent collected through Buildium's tenant payment portal, cashier's check, or money order. Cash is never accepted under any circumstances.
The Buildium rent roll is reviewed on the 2nd and 3rd of each month to identify unpaid accounts. Tenants with outstanding balances receive a friendly reminder by email or text on the 2nd — a professional reminder that rent is due with instructions for online payment. This proactive contact is documented in Buildium.
If rent remains unpaid after the late fee trigger date, the Property Manager issues a Pay Rent or Quit notice in accordance with NRS 40.253. The notice must state the exact amount owed including any permitted fees and specify the 7-judicial-day cure period. No notice is issued without the Broker's review of the amount claimed and confirmation that the notice complies with Nevada law.
Lease Renewals
The lease renewal process begins 90 days before the lease expiration date. The 90-day initiation is not a goal — it is the standard. A renewal process that begins 30 days before expiration has already created unnecessary risk for the owner.
- Day 90 before expiration — conduct rental market analysis and present renewal recommendation to owner
- Day 75 — owner decision confirmed in writing
- Day 60 — renewal offer sent to tenant in writing
- Day 45 — follow-up if tenant has not responded
- Day 30 — if no renewal confirmed, re-leasing process initiated immediately
If the owner elects to increase rent at renewal, the increase notice must comply with NRS 118A.300's requirement of 45 days' advance written notice for month-to-month tenancies. All rent increase notices are prepared by the Property Manager, reviewed by the Broker, and served in the manner specified in the lease.
Notice to Vacate
When a tenant provides notice of intent to vacate, the Property Manager acknowledges receipt in writing within one business day. The owner is notified the same business day the notice is received.
The acknowledgment confirms the notice has been received, states the vacating date the tenant has indicated, and provides move-out instructions including: final inspection scheduling process; key return procedures; and security deposit disposition timeline. Sent through Buildium messaging and documented in the tenant file.
Upon receipt of a notice to vacate, the Buildium property record is updated with the expected vacancy date. If the property is to be re-leased, the Leasing Coordinator is notified and the re-leasing workflow is initiated. Marketing may begin before the current tenant vacates — provided 24-hour advance notice is given for all showings and the current tenant's right to quiet enjoyment is respected.
When the owner elects not to renew, the required notice of non-renewal is issued within the timeframe specified by Nevada law. For month-to-month tenancies, at least 30 days' written notice is required. All non-renewal notices are reviewed by the Broker before service.
Move-Out Procedures
The final move-out inspection is conducted within 24 hours of the tenant vacating and returning all keys — using the move-in condition report and move-in photographs as the baseline.
The inspection documents the condition of every room, every appliance, every fixture, and every outdoor area. Photographs are taken of every room from the same angles as the move-in photographs, making before-and-after comparison straightforward. Any condition that differs from the move-in baseline is documented specifically with a description, a photograph, and the inspector's preliminary assessment of whether the condition reflects ordinary wear and tear or tenant damage.
Damage beyond ordinary wear and tear is documented with photographs, vendor estimates or invoices, and a specific description of the damage and its location. Vague characterizations such as 'property was in poor condition' do not support a security deposit deduction. Specific descriptions with supporting invoices do.
The completed move-out condition report, all move-out photographs, all vendor invoices for repairs and cleaning, and the security deposit disposition worksheet are uploaded to Buildium within 48 hours of the move-out inspection. The 30-day disposition deadline begins running from the date of tenant vacating and surrender of possession.
Security Deposit Workflow
Security deposit accounting is among the most frequently litigated landlord-tenant issues in Nevada. Strata's deposit disposition process is designed to produce an accurate, documented, and legally compliant accounting within the 30-day statutory window — every time, for every property.
The worksheet calculates: the total deposit held; unpaid rent through the vacating date; documented damage repair costs; professional cleaning costs if above standard turnover; and any other authorized deductions. The worksheet is reviewed by the Broker before the disposition letter is prepared. Any deduction not sufficiently documented is removed from the worksheet. No deduction is made without a corresponding invoice or estimate in the file.
The disposition letter itemizes every deduction with the specific item, the amount charged, and a reference to the supporting invoice. Sent to the tenant's forwarding address by first-class mail within the 30-day statutory period. The mailing is documented with a certificate of mailing retained in the file.
Abandoned Personal Property
When a tenant vacates and leaves personal property behind, the landlord's handling of that property is governed by NRS 118A.460. Failure to follow these requirements exposes the owner to civil liability for conversion that may far exceed the value of the property itself.
When personal property is found following a tenant's departure, no item is moved, removed, or discarded until a complete inventory has been conducted and the entire unit and every item photographed. Photographs timestamped and uploaded to Buildium immediately. No inventory item is touched before the photography is complete.
A written notice is sent to the former tenant at their last known address describing the property left behind, the address where it is stored, and the date by which it must be claimed — at least 30 days from the date the notice is sent. The notice is sent by first-class mail, and the mailing is documented with a certificate of mailing.
Vacancy Turn Procedures
The vacancy turn begins the day after the prior tenant vacates and returns keys. All turn vendors — cleaning, paint, carpet, repairs — are scheduled simultaneously, not sequentially, to compress the timeline.
- Professional cleaning — first step, same day if vendor's schedule permits; Property Manager inspects after completion before any other vendor begins
- Paint — full interior repaint if warranted; touch-up for minor ordinary wear is the owner's expense; repaint required for tenant damage is chargeable to the security deposit with invoice documentation
- Carpet — professional carpet cleaning standard at every turn; replacement required when cleaning does not restore carpet to a condition appropriate for a new tenancy
- Repairs — all punch-list items scheduled; habitability issues first, marketability second, cosmetic items third; no property marketed until Priority 1 and 2 items are complete
When the turn is complete, the Property Manager confirms readiness using the Property Readiness Checklist. New marketing photographs are taken. Listing prepared and reviewed for accuracy and fair housing compliance. Property listed on all required platforms within 48 hours of readiness confirmation.
Vendor Management
All vendors performing work on Strata-managed properties must be on Strata's approved vendor list before any work is assigned. The approved vendor list is maintained by the Maintenance Coordinator and reviewed quarterly.
- Current Nevada contractor's license in the appropriate trade
- Current general liability insurance certificate with Strata named as additional insured
- Current workers' compensation insurance certificate
- Completed W-9
Vendors who allow their licensing or insurance to lapse are immediately suspended from the approved list pending reinstatement. Work is not assigned to any vendor with an expired certificate.
Vendors submit invoices within 14 days of work completion. The Maintenance Coordinator reviews every invoice for: accuracy — does the work described match the work ordered; reasonableness — is the amount consistent with the authorized scope; and documentation — is the property address and work date specified. Approved invoices are uploaded to Buildium, linked to the specific work order and owner account, and submitted for payment processing.
Owner Communication Standards
An owner who feels well-informed maintains confidence in the management relationship even when things go wrong. The most common reason owners leave a property management company is not poor maintenance results — it is the feeling that they did not know what was happening at their property.
Generated in Buildium and reviewed by the Property Manager before delivery. Review confirms: all rent receipts accurately reflected; all management fees correctly calculated; all repair and maintenance charges supported by invoices in the file; owner distributions correct; and reserve balance accurately stated. Statements with errors are corrected before delivery — not after. Statements delivered to owners by the 15th of the month following the statement period.
Major repairs require a full written presentation to the owner including: the nature and scope of the problem; the recommended vendor and solution; at least two competitive bids where the repair cost justifies it; the agent's professional recommendation; and the owner's options. The owner's decision is obtained in writing before any work is commissioned.
Owner communication at Strata is transparent — owners receive accurate information about their properties, including information that is inconvenient or that reflects unfavorably on the property's condition or financial performance. A Property Manager who avoids reporting a significant maintenance issue, an extended vacancy, or a tenant compliance problem because the news is unwelcome has failed the owner. Delivering unwelcome news professionally and with solutions is a core professional skill.
Referral Tracking
Every new owner and every new tenant who comes to Strata through a referral represents a relationship that deserves acknowledgment and tracking. Referral source data is collected at onboarding for every owner and every tenant application.
The Strata Universal Contact Database is maintained by the Administrative Coordinator and updated as part of every new owner and tenant onboarding. The database includes every owner, tenant, vendor, and referring party with complete contact information, the date of first contact, and the referral source. Reviewed and updated quarterly. Any contact information change identified during a property management communication is updated in both Buildium and the Universal Contact Database the same business day.
Buildium Procedures
Buildium is the system of record for all property management activities at Strata. If a transaction, communication, or document does not exist in Buildium, it does not exist from an operational and legal standpoint. This is the foundational principle that governs Buildium use at Strata.
Every maintenance request generates a work order in Buildium. The work order tracks the request from receipt through vendor dispatch, work completion, invoice receipt, and payment processing. No maintenance request is managed outside of Buildium — requests received by phone, text, or email are entered in Buildium within two hours of receipt during business hours.
The Broker uses Buildium reports monthly to confirm: the trust account balance equals the aggregate of all owner and tenant ledger balances; all owner statements are accurate; all work orders are closed or have an open-status explanation; and no owner or tenant ledger shows an unexplained negative balance. Buildium's audit trail records every modification to every record — no modification is made without a documented reason, and no entry is deleted without Broker authorization.
File Management Standards
Every file should be organized so that any authorized person can locate any document in any file without asking the agent who manages the property. This standard requires consistent organization, consistent naming, and consistent uploading practices applied to every file, every time.
Every document is named with the property address, the document type, and the date. For example: '123 Main St — Lease — 2026-01-01' or '123 Main St — Move-In Condition Report — 2026-01-15'.
Buildium folder structure for every property record: Management Agreements; Leases and Addenda; Condition Reports and Photographs; Maintenance Records; Owner Statements; Vendor Invoices; HOA Documents; Insurance Records; and Correspondence.
All property management records are retained for a minimum of five years from the date of the relevant transaction or the date the record was created. This applies to: leases and addenda; condition reports and photographs; maintenance records and invoices; owner statements and trust account records; screening records and adverse action notices; and all correspondence. No record within the retention period is deleted without Broker authorization.
Email and Text Message Standards
Every written communication from Strata represents the brokerage. The professional standard is: complete sentences, correct spelling, accurate content, appropriate tone, and a professional closing with the sender's full name, title, and Strata contact information — regardless of the channel, the urgency, or the informality of the relationship.
Text messages are appropriate for appointment confirmations, brief status updates, and urgent notifications. Not appropriate for sensitive communications — lease enforcement, security deposit disputes, fair housing concerns, or any matter involving potential liability. Those matters are handled in writing by email, with Buildium documentation.
Every material communication is documented in Buildium within 24 hours. For emails, the email is forwarded or attached to the Buildium record. For text exchanges, the material content is summarized in a Buildium note with the date, time, parties, and summary. For phone calls, a Buildium note is created within one hour of the call.
Checklists and Forms
Every recurring task at Strata has a corresponding checklist. The checklist ensures that professional judgment is applied to a complete set of verified information, every time. A checklist completed without verifying each item is not a checklist — it is a formality.
| ☐ | Renewal reminder triggered — 90 days before expiration |
| ☐ | Rental market analysis completed |
| ☐ | Renewal recommendation presented to owner in writing |
| ☐ | Owner renewal decision confirmed in writing |
| ☐ | Renewal offer sent to tenant — 60 days before expiration |
| ☐ | Tenant response received and documented |
| ☐ | Renewal addendum prepared if tenant renewing |
| ☐ | Renewal addendum signed and uploaded to Buildium |
| ☐ | Buildium lease record updated — new end date |
| ☐ | Owner notified of renewal outcome |
| ☐ | Notice to vacate received and acknowledged in writing |
| ☐ | Owner notified of vacating date |
| ☐ | Re-leasing initiated (if applicable) |
| ☐ | Move-out instructions sent to tenant |
| ☐ | Forwarding address requested from tenant |
| ☐ | Keys returned — all items on Key Receipt confirmed returned |
| ☐ | Final move-out inspection completed — within 24 hours of vacating |
| ☐ | Move-out photographs taken and uploaded to Buildium |
| ☐ | Security deposit disposition worksheet prepared |
| ☐ | Broker review of disposition worksheet completed |
| ☐ | Vendor invoices obtained for all deductible items |
| ☐ | Disposition letter prepared and mailed — within 30 days |
| ☐ | Certificate of mailing retained in file |
| ☐ | Buildium tenant ledger updated — deposit disposition entered |
| ☐ | Move-out inspection completed — punch list prepared |
| ☐ | Cleaning vendor scheduled — work completed and inspected |
| ☐ | Paint assessment — touch-up or full repaint completed |
| ☐ | Carpet cleaning completed — replacement if warranted |
| ☐ | All punch list repairs completed |
| ☐ | Smoke detectors tested and batteries replaced |
| ☐ | CO detectors tested and confirmed current |
| ☐ | HVAC filter replaced |
| ☐ | All utilities confirmed active for showings |
| ☐ | New marketing photographs taken |
| ☐ | Lockbox installed — code recorded in Buildium |
| ☐ | Listing prepared and reviewed by Broker |
| ☐ | Property listed on all required platforms |
| ☐ | Maintenance request received and logged in Buildium — date and time |
| ☐ | Urgency classification assigned — Emergency / Urgent / Routine |
| ☐ | Tenant acknowledgment sent within 1 business hour |
| ☐ | Vendor selected from approved vendor list |
| ☐ | Owner notification sent if above threshold |
| ☐ | Work order created in Buildium — vendor and scheduled date entered |
| ☐ | Vendor confirms scheduled date |
| ☐ | Work completed — completion date entered in Buildium |
| ☐ | Invoice received from vendor within 14 days |
| ☐ | Invoice reviewed for accuracy |
| ☐ | Invoice uploaded to Buildium — linked to work order and owner account |
| ☐ | Payment processed — amount and date documented in Buildium |
| ☐ | Tenant notified of completion |
| ☐ | 24-hour written entry notice sent to tenant — date and method documented |
| ☐ | Inspection conducted — all rooms, appliances, and outdoor areas |
| ☐ | Photographs taken — all rooms, all notable conditions |
| ☐ | Written inspection report completed — within 48 hours |
| ☐ | Maintenance issues identified — work orders created in Buildium |
| ☐ | Lease violations identified — documented and addressed |
| ☐ | Owner inspection report delivered with photographs |
| ☐ | Inspection record uploaded to Buildium property file |
Operating Standards
The operating standards in this section are not supplementary guidance — they are the professional foundation on which every procedure in this manual rests. They answer the question that underlies every checklist, every policy, and every practice: why does Strata operate this way?
A property management operation that functions because key team members remember what to do — and fails when those team members are absent, distracted, or replaced — is not a sustainable professional organization.
The practical test: If the assigned Property Manager were unavailable for two weeks without notice, could another qualified team member pick up their files and manage their properties professionally — using only the Buildium records and the documented procedures? If the answer is yes, the system is working. If the answer depends on institutional memory or informal knowledge, the system needs to be strengthened.
When a new situation arises not covered by an existing procedure, the correct response is to manage the situation professionally — and then document what was done as a new procedure for future reference. Checklists are reviewed annually. If a checklist item no longer reflects actual practice, the checklist is updated.
The synthesis: use the checklist to ensure every required element is addressed, and apply professional judgment in how each element is addressed. The Move-In Condition Report checklist ensures every room is inspected and photographed — professional judgment determines how a pre-existing scratch is described in a manner that is accurate, specific, and useful as evidence.
The Broker reviews the operating standards annually, confirms that all procedures reflect current best practice, and updates any procedure overtaken by changes in Nevada law, Buildium functionality, or operational experience. The Broker conducts a formal review of operations every quarter — covering trust account reconciliations, active file audits, checklist completion rates, open maintenance work orders, and any outstanding owner or tenant concerns. Any deficiency identified in the quarterly review is addressed within 30 days.
A file that is complete, organized, and accurate has nothing to fear from any review. A file that is incomplete, disorganized, or inaccurate creates liability — regardless of whether a review actually occurs. Consistency is the standard. Consistency is produced by systems. Systems are produced by documented procedures.