Where it is necessary to adequately preserve and maintain a property in our portfolio, ORE Financial Services utilizes the services of local property managers. The reasons we contract property managers vary by property - every property is unique - but overall it comes down to the following two concerns:
- Is the property at risk due to the area it is in, the value of the property, or some other environmental factor?
- Does the property have tenants?
If either of those questions merit a "yes," we generally like to have a property manager in the area that can check up on the property on a regular basis, can be on-site immediately should they need to be, and can take care of issues if and as they arise.
Requirements
While specific requirements may vary based on the individual needs of each property, our general requirements are as follows:
- Proof of valid license(s), as required by federal, state or local laws.
- General Liability Insurance coverage, $1,000,000 minimum.
- Workers Compensation Insurance, $500,000 minimum
- Financially stable and able to carry repair costs for 30 days before reimbursement if necessary.
- Sufficient controls to ensure that all timelines, communications and quality meet the standard of excellence ORE Financial Services expects of its partners.
If you are interested in becoming a local property manager, please complete the Vendor Application Form and register as a prospective property manager. You may also review our listing site to determine where OREF and Colliers need property managers.
Once we determine there is a business need to expand our network of property managers in a specific area, we will utilize the prospective vendor database to identify all property managers registered in that area. OREF and Colliers will decide which property manager(s) will be selected for a phone interview based on the information provided in the Vendor Application Form. After the phone interview(s) are complete, the most qualified property manager(s) will be chosen to continue with the activation process.
Please note that completing the Vendor Application Form does not guarantee you will be selected to work with us.