Services

Today's student housing markets are increasingly competitive. Fraternity facilities are competing with both private and university-owned facilities that are driven by profit. As often single asset entities, managed by volunteers, it is a challenge for the house corporations managing fraternity facilities to remain competitive.

Meanwhile, some of the best alumni volunteers spend the majority of their time and energy fighting to keep the property operating … in addition to trying to manage alumni relations and development, and, of course, provide advising and support for their collegiate chapter.

Too often, the end results are overburdened alumni volunteers and under-performing programs.

It is for these reasons that Fifth Point Properties was formed.

Based on the nature of Fifth Point Properties and the market we serve, our approaches are developed with respect to specific situations, not general programs. Fifth Point Properties evaluates opportunities on an individual basis, with a variety of potential approaches with respect to financing, deal structure, and management. We savor the opportunity to work with "empty canvas".

Chapter Dues Processing

For a lot of chapters, collections can be one of the biggest headaches, which today is complicated further with the prevalence of electronic means of payment. Even for large chapters, the cost to provide members the option to pay by electronic means (credit card, debit card, and bank draft deductions) is prohibitive.

For a flat percentage fee of total amount collected, chapters can utilize Fifth Point Properties’ Chapter Dues Processing Service. This fee includes the origination of a Chapter Dues Agreement for all members, processing electronic payments, timely reports on who has paid, and remittance of collected dues back to the chapter.

Unlike other dues collection services that simply bill members and provide various payment options, Fifth Point will only accept pre-authorized electronic payments. That is, once the member completes the Chapter Dues Agreement and Payment Authorization Form, we will automatically charge his credit/debit card or draft his checking or savings account on the days and for the amounts due as outlined in the Chapter Dues Agreement.

For more information about our Chapter Dues Processing Services and to see how it can assist your chapter with the collection of dues and fees, please contact us via e-mail or by telephone at 540.463.1869.

Housing Agreements and Occupancy Payment Collections

The need for having legal, binding and enforceable housing agreements with individual occupants is a critical aspect of the management and operation of undergraduate housing. There will be times that the chapter and/or house corporation will need to evict occupants for nonpayment or for disciplinary reasons. Fifth Point’s Housing Agreements and Common Area Lease Agreements are prepared in accordance with local, state, and federal laws and are specifically written to provide protection against not only nonpayment, but for violations of The Law of Sigma Nu Fraternity, Inc. or the Risk Reduction Policies and Guidelines of Sigma Nu Fraternity, Inc.

Housing Agreements and Occupancy Payment Collections Service costs a flat percentage fee of the total amount collected. This service includes the origination of a Housing Agreement for the individual occupants and Common Area Lease Agreement with the undergraduate chapter. The service also includes reporting and remittance, as well as limited collection services. Fifth Point will initiate our collection procedures via e-mail, phone and certified mail, and if it is warranted, recommend to the house corporation that eviction proceedings should begin. In addition, for a nominal fee, Fifth Point can manage the entire eviction process on behalf of the house corporation.

For more information about our Housing Agreements and Occupancy Payment Collections Services and to see how it can assist in the leasing and collecting of occupancy charges, please contact us via e-mail or by telephone at 540.463.1869.

Alumni Dues Processing

Is your alumni chapter in need of an easy way to collect dues from members and allowing them to pay by electronic means? If so, Fifth Point Properties’ Alumni Dues Processing may assist your alumni chapter in the collection of dues, fees, contributions, etc.

For a flat percentage fee of total amount collected, alumni chapters can utilize Fifth Point Properties’ Alumni Dues Processing Service. This fee includes the origination of a custom agreement for all members, processing electronic payments, timely reports on who has paid, and remittance of collected dues back to the alumni chapter.

For more information about our Alumni Dues Processing Services and to see how it can benefit your alumni chapter, please contact us via e-mail or by telephone at 540.463.1869.

Property and Asset Management

One of the biggest challenges for many house corporations is the lack of human resources (volunteers and their time), along with a broad base of knowledge (property management, construction, legal, tax, etc.) required to manage and operate housing for an undergraduate chapter. Fifth Point Properties can provide a variety of Property and Asset Management Services that can maximize and complement the efficiency and effectiveness of volunteer efforts.

Using our experience and collective access to a large network of professionals, Fifth Point Properties has the ability to successfully deal with almost all housing situations (small and large in scope).

The main items included in our Property and Asset Management Services include:

Developing annual operating budgets and capital budgets
Developing long-term property plans (renovation, sale, new purchase, etc.)
Identify, contracting, and evaluating local property management services
Developing leasing and revenue maximizing strategies (Are we charging the right amount?)
With Fifth Point Properties’ Housing Agreements and Occupancy Payment Collection Service, having legal, binding, and enforceable housing agreements are taken care of as well as collection matters
Management of renovation and repair/maintenance projects.

Every property is different in regards of the planning and work required, therefore our Property and Asset Management Services range in price. For more information about our Property and Asset Management Service, please contact us via e-mail or by telephone at 540.463.1869.

Accounting and Tax

With the ever increasing scrutiny from regulatory bodies and members/supporters of not-for-profit organizations, the need for accurate, timely and transparent financial and tax reporting is a must. Fifth Point’s Accounting and Tax Service, along with the experience of its accounting and finance staff in the areas of property operations, asset accounting and not-for-profit tax regulations, has the ability to provide house corporations accurate and timely financial information to assist in the proper management of undergraduate housing.

When coupled with Fifth Point’s Property and Asset Management Service, this is an unbeatable combination for house corporations to meet their short and long-term goals. Fifth Point has the capabilities to provide accounting under either the accrual or cash basis of accounting and conforms to accounting principles generally accepted in the United States of America.

In summary, our Accounting and Tax service includes the following main functions, where applicable:

Cash Management
Asset Tracking
Accounts Receivable
Accounts Payable
General Accounting (recording and tracking of debts, revenue and expense accruals, accrued expenses, prepaid expenses, etc.)
Monthly Financial Statements
Annual Federal and State Tax Filings

Due to the different complexities involved in accounting and tax issues based on the size, accounting methods and locality of the house corporation, our Accounting and Tax Service varies in cost. For an accurate accounting of receivables, Fifth Point’s Housing Agreements and Occupancy Payment Collections Service is required as part of the Accounting and Tax Service is not included in the cost of the Accounting and Tax Service. For more information, please contact us via e-mail or by telephone at 540.463.1869.

Corporate Compliance

With the time constraints of volunteers and the sometime frequent turnover of officers of house corporations, keeping track of corporate compliance issues can become daunting. The penalties and fines that come along with failure to comply can not only be costly, but time consuming.

Fifth Point’s Corporate Compliance Service can take care of all corporate compliance issues, including annual (or biennial) State Corporate Registrations, Articles of Incorporation and By-law updates to the applicable state agencies, and any other registrations required by localities and states.

This service costs a flat fee per registration plus any applicable processing and mailing costs. For more information, please contact us via e-mail or by telephone at 540.463.1869.

Consulting

Fifth Point Properties, LLC has developed the knowledge base to help House Corporations and Chapters better manage their property and operations. Fifth Point may be contracted on a project basis to help develop short and long term capital improvement plans, improve operations, and help with budgeting issues or the development of a strategic plan for the chapter and alumni.

House Corporation Start-up

Fifth Point Properties can help you set up a house corporation with our network of legal resources and background in what makes a good house corporation. Although at this time we cannot provide a template or boilerplate documents, we can help you through the process of deciding what type of entity to form, the tax implications of entity decisions and the development and filing of the organic documents.

If your alumni group is interested in helping your chapter through the development of a house corporation, use our resources and background to help facilitate the process. For more information, please contact us via e-mail or by telephone at 540.463.1869.

Design and Renovation/Project Management

Many of our chapter homes are in need of renovation, or in some cases redevelopment. Fifth Point Properties has the opportunity, through its day to day activities, to see the latest trends in design, development and construction of Greek housing. Fifth Point can help you renovate your current home into something that your undergraduate chapter and alumni can be proud of and help you recruit the best and brightest, or we can help you design a brand new chapter home that will meet the needs and expectations of college students for the next century.

Fifth Point Properties has the experience to help you get the job done in a timely and cost effective manner, please contact us via e-mail or by telephone at 540.463.1869 to find out more.

Financial and Strategic Planning

Fifth Point Properties through its daily operations sees the best and worst of financial and strategic planning going on within the fraternal world. In many cases House Corporations and Chapters do not approach their operations as a “business”. Many House Corporations and Chapters deal with six figure budgets without a financial or strategic plan, which could lead to disastrous results. Without a plan we see many properties deteriorate to a point where neither the chapter nor the alumni feel the pride they once had in their chapter home. It also leaves the chapter using a house that cannot meet the needs and expectations of today’s college student – leading to fewer members wanting to live in the house and a further decline in the financial situation.

Fifth Point Properties can help you to develop the financial and strategic plans that will lead your House Corporation and Chapter to success. For more information, please contact us via e-mail or by telephone at 540.463.1869.

Capital Development and Planning

The construction and financing of any type of building is an expensive and time consuming experience. Many times the cost of development for a chapter home can run into seven figure deals demanding various funding mechanisms and careful planning to keep the housing affordable. Fifth Point Properties has the experience and knowledge in dealing with various capital funding structures, including debt financing and capital campaigns.

With the complexity and need for specialized planning, Fifth Point Properties, in partnership with the Sigma Nu Educational Foundation, Inc., can become valuable resources for your project. For more information, please contact us via e-mail or by telephone at 540.463.1869.