Fredericton Property Management — Management Proposal

20 & 30 Dunns Crossing

A proposal for full-service residential property management
36 Units
2 Buildings
4-Bedroom Residential
Presented March 2026
Our Business Approach

Our Business Approach

"Good artists copy; great artists steal. We have always been shameless about stealing great ideas." — Steve Jobs

Three core pillars of my business philosophy are shamelessly stolen.

Peter Thiel
Durability
Build something durable, not just big. A business worth having is one you'd still want to be running in thirty years — which means every decision made inside it has to hold up under that timeline.
Steve Jobs
The Standard
The service is the product. Every detail of the experience — the statement that's clear, the call that gets returned, the building that's clean when nobody's watching — is what you're actually selling, and allowing any of it to slip is allowing the product to slip.
Jim Sinegal
The Advantage
Use the advantages of scale to pass savings and value back to the people you serve, and they will keep coming. The operational efficiencies we build over time belong to our clients, not our margins.

These three principles dictate every decision I make — how I structure agreements, how I respond to a maintenance call, how I price my services, and who I take on as a client. Durability is the foundation, the service is the standard, and the advantage gets passed on.

Section 01 — Transition Plan

Proposed Management Acquisition Plan

Here's how the first 120 days look.
Kickoff Pre Day 1

Kickoff Phase

Agreement executed and notices issued before the clock starts. Tenant notification goes out 14 days prior to official turnover so initial unit visits can be pre-scheduled and begin on Day 1.
Management Agreement Executed
Signed agreement covering both 20 & 30 Dunns Crossing. Both buildings under one management relationship before anything else moves.
Pre Day 1
Formal Tenant Notice — 14 Days Prior
All 36 units notified of management change 14 days before official turnover date. New contact information, rent payment instructions, and maintenance request process communicated. Initial unit visits pre-scheduled to begin Day 1.
14 Days Out
Phase 1 1–3 Days

Phase 1

All files and keys received from previous management, rent payments redirected to FPM, both buildings operational under new management.
File Transfer from Previous Management
All leases, tenant records, deposits, and any active notices or proceedings.
Day 1–3
Key & Access Inventory
Master keys, unit spares, mailbox keys, and any building access codes received and inventoried.
Day 1–3
Temporarily Secure Buildings
Buildings should be secured immediately, pending intercom replacement and long-term solution.
Day 1–3
Deposit & LMR Transfer
All held security deposits and last-month's rent transferred to FPM property income account with a full itemized ledger per unit.
Day 1–3
Phase 2 1–14 Days Concurrent

Phase 2

Both buildings fully configured in our systems. Every lease reviewed. Physical inspection completed.
Buildium Configuration
Both properties built out — all 36 units loaded with tenant info, rent amounts, lease dates, and deposit records.
Day 4–6
Full Lease Review
Every existing lease and Schedule A reviewed — terms, rent amounts, expiry dates, non-standard clauses, and compliance requirements flagged.
Day 5–7
Tenant Insurance Audit
All 36 units checked for active tenant insurance. Enforced where the lease requires it.
Day 7–10
Physical Building Inspection
Full walkthrough of both buildings — common areas, exterior, hallways, parking. Baseline condition on record from Day 1.
Day 7–9
Deferred Maintenance Log
Every identified issue logged. Reviewed with you at the Day 14 check-in with quotes where needed.
Day 9–10
Tenant Introduction
Posted notice and on-site presence so tenants know who we are and how to reach us.
Day 7–10
Day 14 Check-In: We'll connect to walk through the state of both buildings — condition, any maintenance that needs attention, and where things stand with the lease audit.
Phase 3 11–14 Days

Phase 3

Cleaning schedule live, priority maintenance in motion.
Cleaning Schedule — Both Buildings
Recurring cleaning contract in place. Scope and frequency confirmed.
Day 11–14
Grounds & Exterior Cleanup
Scheduled alongside interior cleaning — parking lot, lawn, and wooded areas cleared of debris and accumulated waste. Sets the baseline standard for ongoing grounds maintenance going forward.
Day 11–14
Priority Maintenance in Motion
Top items from the deferred maintenance log assigned to vendors. Quotes provided to you on anything above the threshold before work begins.
Day 12–18
Phase 4 14–30 Days

Phase 4

First rent collection cycle complete. First owner statement delivered.
First Rent Collection Cycle
All 36 units managed through FPM. Payments tracked and posted in Buildium. Arrears flagged and dealt with immediately.
Day 14+
First Owner Statement
Rent collected, management fee, all expenses categorized, and net disbursement — all itemized.
Day 30
First Full Rent Roll Report
All 36 units — payment history, arrears, current rent amounts, and lease status delivered to ownership.
Day 30
Month-End Owner Call
Walk through the statement, review what's open on maintenance, and agree on how you want to be kept in the loop going forward.
Day 30
Day 60 60 Days

Day 60

Lease conversion underway. Rent increase plan presented. Priority operational and cosmetic repairs addressed.
Fixed-Term Lease Conversion — Initiated
Month-to-month tenancies converted to fixed-term year-to-year leases as they come up.
Ongoing
Rent Increase Plan Presented
Annual rent increase schedule presented to ownership — timeline, amounts, and unit-by-unit approach confirmed for the next cycle.
Day 60
Entry Security Resolved
Intercom system replaced with permanent solution.
Day 60
Minor Repair Items Addressed
Garbage area organized, damaged Faro can replaced, hallway window screens replaced, touch-up paint between any tenant turns.
Day 60
Day 90 90 Days Quarterly Review

First Quarterly Review

Day 120 120 Days

Day 120 — Capital Repairs

Capital work approved at Day 90 executed. All major outstanding items addressed.
Exterior Repairs — Building & Parking
Parking lot potholes filled, eavestrough replacement completed, car-damage repair on building exterior completed.
Day 120
CCTV — Wireless System Commissioned
Non-functional cameras replaced with wireless system. Both buildings covered.
Day 120
Common Area Upgrades
Stairway entryway flooring replaced, common area walls painted throughout, exterior entry flooring resolved.
Day 120
Gazebo Removed
Gazebo removed.
Day 120

Beyond Day 120

Quarterly Cadence
Step 1
Progress Review
What got done last quarter and what didn't.
▶
Step 2
New Items
Maintenance, tenant matters, anything new that needs attention.
▶
Step 3
Next Quarter Plan
Agree on what gets done next quarter before we start.
▶
↺
Repeat
Next quarter
Annual Review — Once Per Year
Year in Review
What worked. What didn't.
What went well, what didn't. Straightforward.
Property Assessment
Condition, occupancy, financials.
Full year financials, occupancy, rent roll, and current building condition.
Strategy & Planning
Plan for the year ahead.
Capital plan, rent increases, and any bigger decisions for the year ahead.
Section 02 — Scope

What's Included

Here's what's covered under the management fee.

✓ Included in Management Fee

  • Rent collection, deposit handling, and property income accounting
  • All tenant communications
  • Maintenance coordination and vendor management
  • Ensuring cleanliness of building, common areas, and exterior property
  • Annual unit inspections
  • Move-in and move-out inspections
  • Regular lease compliance audits (including tenant insurance)
  • Lease renewals
  • Arrears management and late notice issuance
  • Representation on your behalf with the Residential Tenancies Tribunal
  • Eviction filing coordination (where required)
  • Monthly owner statements with full expense reporting
Section 03 — Financial Flow

How the Money Moves

From tenant payment to your bank account — every step is tracked, documented, and reported monthly.
20 Dunns Crossing
18 Tenants — Monthly Rent
30 Dunns Crossing
18 Tenants — Monthly Rent
▼
E-Transfer / PAD / Cheque
FPM Property Income Account
All Rent Collected
Segregated account · Reconciled in Buildium · Reported monthly
▼
Monthly Disbursement
Management Fee
% of gross rent collected
per management agreement
▼
→ Management Invoice
Paid to management
Approved Expenses
Maintenance · Cleaning
Billed separately
▼
→ Vendors / Contractors
Paid before disbursement
Net Owner Disbursement
Remainder after fee & expenses
▼
→ Your Bank Account
Direct transfer, monthly
▼
Monthly Owner Statement
Delivered to ownership by end of each month — every month
✓ Rent collected by unit
✓ Management fee
✓ All expenses categorized
✓ Net disbursement
✓ Arrears summary
✓ Maintenance activity log
Section 04 — Pricing

Management Fees

Simple and straightforward.
Management Fee
7.5%
of collected rent monthly
Covers everything in the included services list. HST and security deposits excluded from the calculation.
Tenant Placement
$375
flat per unit
For any lease-end turnovers. Renewals $50 + HST.
One-Time Administrative Startup Fee
Onboarding, system setup, lease audit, initial property inspections, and file transfer across all 36 units. Billed once at commencement of management.
$2,700
$75 × 36 units
Fredericton Property Management
Management Proposal — 20 & 30 Dunns Crossing  ·  March 2026
Confidential