MBT Services Corporation is an experienced residential
and commercial property management firm. The business was established
in 1986 and its principals have been involved in real estate management
in Chicago since 1975. We are currently managing property in the
Lincoln Park, Lakeview, River West, St. Ben and Roscoe Village
areas of Chicago. Our services include:
- Assessment collections. MBT Services will collect all assessments
and other income when due and will deposit all revenues in a
special bank account maintained by MBT Services for the Association.
- Bill Payments. All expenses incurred by the building will
be paid out of the checking account maintained by MBT Services
for that property. Assuming sufficient cash flow, MBT Services
will be responsible for the timely payment of all bills covered
by the assessments collected.
- Maintenance/Repair. MBT Services employs experienced and qualified
maintenance/repair staff on a full-time basis. Our maintenance/repair
staff will attend to all general maintenance of the building,
including cleaning of outside and inside common areas, basement,
garbage collection area and backyard. We will also be responsible
for daily repairs, as required. Maintenance and repair work
will be billed separately. Currently, MBT Services’ maintenance
personnel are billed at $28.00 per hour.
We maintain relationships with outside contractors for major
repairs. The Association is consulted before any major repairs
- Accounting. Computer-generated Income Statements
will be prepared at each month-end and be provided to the Association.
Detailed explanations of any out-of-ordinary expenses will be
included with the month-end reports.
- Leasing. If needed, we are constant participants
in the rental markets and can advise any Owner on appropriate
rent levels and strategies. MBT Services will advertise and
post vacancies, screen tenant applications and arrange for credit
checks. Once an Owner has approved a tenant, we will prepare
the lease, acquire signatures and work with the tenant and Association
on moving-in details. MBT Services is currently charging one
month’s rent as our leasing commission. There is a $15.00
fee for renewal leases.
- Asset protection and enhancement. MBT Services
will endeavor to monitor, maintain and improve the physical
condition of the property, as well as the financial return to
the Owners. We will periodically confer with the Association
on suggested repairs and improvements.
MBT Services’ management fees are negotiated
on a case-by-case basis, depending on a building’s size,
location and condition.