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West Coast Group Investments

Some Quick Answers

1. What kind of properties do you currently manage, and what are the gross rental fees for which you are responsible?

West Coast manages large income properties, both for West Coast investment groups and others. West Coast currently manages over 30 mobile home parks. West Coast also manages other properties and a shopping center in California. Gross rental fees exceed $1,000,000 per month.

2. How many years has Richard Delaney been managing properties?

Richard has been managing group properties since 1980. Before 1980 Richard Delaney managed single family homes for his own account.

3. What specific services will you provide to the park owners, and what is the monthly fee for those services?

We collect the rent, bank the deposits, handle daily tenant questions, pay the bills and report to the owners on a monthly basis. Our reports generally include a distribution check. Our fee is 6% of the rent collected.

4. Do you handle all maintenance required (e.g. water system and roads)?

We do not do heavy maintenance, but normal patches and leaks would be done by park personnel. Major maintenance on the water system or roads would normally be contracted out.

5. When, if ever, would you bring maintenance problems to the attention of the owners? For example, what would happen if repaving of the driveways and parking lot is required?

We normally set an expenditure level of $2,500 - $5,000. Typically, any expenditure above this level, other than the normal monthly payments, would require the owners’ approval prior to the authorization of work.

6. Are there special services for which you would charge additional fees? If yes, what types of services might these be, and what would be the hourly fee?

Construction Supervision, renting vacant space and any out-of-area travel are "extras" in most property management agreements. West Coast charges would be:

 

Construction Supervision

4% of Contract

Space Rental

Done by on-site manager as part of job

Travel

Actual cost, but only if extraordinary out of town travel. Routine inspections are included in the management fee.

Processing Refinance

$3,000 to $5,000 depending upon work required.

Mobile Home Contracts

Management Fee charged on all mobile home contract collections

7. Have you managed properties with vacancies?

We have managed, and continue to manage several properties with vacancies. We have dealt with many of the possible problems associated with vacant spaces and have even built a park from approved plans.

8. Can West Coast help with evaluating people, systems and operating policies at our park?

Under the management program these services are included as part of the regular management fee.

9. What kind of information will you provide to the owner of the park?

We provide monthly reports showing every penny of income and its distribution. Please for a proposal.

10. Will you sign a 12-month contract with a provision that either the park or West Coast may cancel with 30-day notice?

We would sign a 12-month contract with a 30-day cancellation notice. This would qualify for lower annual rate, unless cancelled within the first twelve months.

11. Do you provide any liability insurance? What liability will you assume as property manager?

Property owners must provide liability insurance and name West Coast as an additional added insured on their policy. If necessary or helpful, we could assist in purchasing the insurance, but the property must pay the bill.

12. Can West Coast find me a buyer when I’m ready to sell?

West Coast has a great deal of transactional experience and maintains relationships with over 300 brokers, buyers and park operators. West Coast probably knows your buyer and your buyer knows and respects West Coast.

13. Can you provide the name of some references?
Yes- Please contact our office.

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