June 2025 - Mid-year Updates and Important Changes to Management Terms

Mid-year Updates

Over the past 6 months, we’ve made significant strides in improving our performance, and we’re excited to share the results:
 

• Property Meld Implementation - We are excited to share that we have implemented Property Meld, a modern maintenance coordination platform designed to improve response times, service level agreements (SLA), and overall tenant satisfaction. This system allows for better communication, real-time updates, and faster vendor scheduling. Since its implementation, our average resolution time for non-emergency maintenance issues has improved to just 4 days, significantly enhancing the resident experience and operational efficiency.
   

• Increased Google Reviews - Since January 2025, we have seen a 40% increase in Google reviews, a clear reflection of the growing satisfaction and trust from both tenants and property owners. This positive momentum highlights the effectiveness of our team’s commitment to service quality, responsiveness, and overall client experience.
   

• Faster Leasing Turnaround - We have successfully reduced our leasing turnaround time from 37 days to 24 days year-over-year, resulting in faster tenant placement and minimized vacancy loss. This improvement reflects our proactive leasing strategies and commitment to maximizing returns for our property owners.
   

• Lower Eviction Rates - We have reduced the number of evictions from 1% to 0.5% year-over-year, thanks to enhanced tenant screening procedures and proactive tenant management. This improvement not only protects property owner interests but also promotes greater stability within our rental communities.
   

• Improved Rent Collection - We have increased on-time rent collection from 93% to 97% year-over-year, ensuring more consistent owner payouts and enhanced financial predictability. This progress reflects our strengthened rent collection processes and improved tenant engagement.

Account Manager Retirement

Our long-serving Account Manager is retiring. We are transitioning to a department-based model, where dedicated department heads oversee specialized areas like leasing, maintenance, accounting, and customer service—ensuring expert care and continuity for each of your properties. To ensure efficient communication, we've specific email addresses for various aspects of property management:

Department Email ID                                                                       Department Lead
​

Leasing - leasing@lacymanagement.com                                      Natalie/Ravyn

Rents & Expenses - accounting@lacymanagement.com              Sudheer

Move-In & Move-Out - mimo@lacymanagement.com                 Nita/Sunny

Maintenance - maintenance@lacymanagement.com                   Nita
Agreements & Listing - backoffice@lacymanagement.com         Leela

HOA & General Inquiries - info@lacymanagement.com              Maaz

Evictions/Collections - leagal@lacymanagement.com                 Sudheer/Ravyn
Management/Escalations - manager@lacymanagement.com    Satya

Our main office number - (919) 355-5317

Updated Fee Structure

                                                                                 Currentﾠ         New

Maintenance Approval Threshold                        $300ﾠ              $500

In-house maintenance tech fee per hour             $50ﾠ                $60
Mileage Reimbursement                                       N/A                 IRS Standard: $0.70/mile

These updates are necessary to reflect inflation, rising labor and transportation costs, and the increased technology investment to improve our service delivery.

We remain committed to providing industry-leading property management and appreciate your continued trust. Please review these changes, and feel free to reach out with any questions or concerns.

Frequently Asked Questions

1. Why is the charge increasing from $50 to $60 per hour?

The increase reflects significant cost pressures due to inflation and rising operating expenses. Key contributing factors include:
 

• Labor costs: Wage rates for skilled maintenance technicians have increased industry-wide in response to market demand and inflation.

• Technology & software investment: We’ve implemented enhanced tools like Property Meld to streamline tracking, scheduling, communication, and reporting. These platforms require ongoing licensing and support costs.

Despite these changes, our in-house technician model continues to deliver strong value compared to third-party vendors—offering:
 

• Faster turnaround times (currently averaging 4 days for non-emergency issues)

• Greater quality control

• Transparent communication and documentation

• Lower total repair costs in many cases
   

We remain committed to delivering efficient, professional service while keeping costs fair and aligned with current market conditions.

2. Why is the maintenance approval threshold increasing from $300 to $500?
 

The previous limit was set in 2021. Inflation, labor shortages, and higher material costs mean some repairs now exceed $300. Raising the threshold prevents delays—especially for time‑sensitive issues like HVAC/Water Heater/Appliance/Garage Door failures—by allowing us to approve and dispatch small jobs immediately while still notifying you once the work order is opened.
 

3. Will I still get notified before work is done?

Yes. You will receive the usual work‑order email from our Property Meld platform. The difference is simply that we no longer need explicit written approval unless the estimate exceeds $500 (or your custom limit, if lower). You can always reply to pause or ask questions.

4. Why are you introducing a Mileage Reimbursement now?
 

Our in-house technicians do not bill for travel time, which has historically been absorbed by our company. However, with rising fuel prices, insurance premiums, and vehicle maintenance costs, we’re implementing a standard mileage reimbursement to help offset these growing expenses.
 

This fee is designed to cover both:
 

• The out-of-pocket costs associated with technician travel (fuel, wear and tear, insurance, etc.), and

• The opportunity cost of technician time spent in transit, which is time they are not able to bill for directly or spend servicing other properties.
   

By applying the IRS standard mileage rate ($0.70/mile for 2025), we are keeping this reimbursement aligned with federal guidelines and ensuring it fairly reflects the actual cost of operating and maintaining a vehicle for work-related purposes.
 

This change allows us to maintain service quality and technician availability without increasing hourly service rates.
 

5. Do these changes affect my monthly management fee?
 

No—the standard management percentage remains unchanged.
 

6. Can I opt out of any of these fees?
 

No—The Mileage Reimbursement, updated approval threshold and in-house maintenance technician charge are policy‑wide.
 

7. What if I have additional questions or want to discuss my portfolio specifically?
 

Please contact via email or schedule a meeting with me, https://scheduler.zoom.us/satya-pullakhandam. I will gladly any questions or concerns.