Off the bat, Rob Popoff describes exactly what a property management company isn’t, and shouldn’t be.
“We do not simply manage, collect checks, and make sure the grass is cut,” says Popoff, who recently teamed with Tammy Bennetts of Sabal Property Management, LLC.
Bennetts formed the company in 2006.
Popoff — better known as the current City Council chairman — appropriately likes to compare property management to running a local government.
A condo or community association’s directors act as “city councilors” as they administrate the multitude of functions and responsibilities of the associations, he says.
The property manager, in this sense, is the facilitator.
Proper management in this type of real estate equation, Popoff says, translates to services like implementing and maintaining budgets, ongoing communication with boards of directors and homeowners, introducing cost-saving measures, the provision of financial reports, and generating warning letters for violations of governing documents, to name some.
On the ground, the property management company seeks preferred vendors, acquires competitive bids on work, documents all paper work either on hard copy or digitally, prepares meeting packet.
On the legal management side, Popoff says, the company communicates with legal counsel to avoid or resolve legal issues and works with insurance companies.
On the financial side, Sabal includes delinquency follow-ups, verification of vendor invoices, monthly bank statement reconciliation, comprehensive budgeting, provision of balance sheets for operating and reserve accounts, and tax return preparation for the perusal of an accountant.
Also in the mix, Popoff says, is a storm preparedness plan, professional tenant screening, and periodic property inspection with proper maintenance in mind.
Bennetts has been in the property management business since moving to Florida in 1994, and is mom to two boys.
Popoff holds a BA in Management and Organizational Development, and is married with two children.
He has served on a wide variety of professional, public and non-profit boards of directors both locally and nationally.