Services
Rent Collection
Collecting rent from tenants in a timely manner and enforcing lease agreements regarding payment terms. Setting up payment systems, pursuing late payments, and implementing rent increases as permitted by New York law and lease agreements.
Maintenance and Janitorial
Coordinating routine maintenance tasks and addressing repair needs promptly to ensure that the property remains in good condition. This includes scheduling inspections, hiring contractors, and overseeing repairs and renovations as necessary.
Property Inspections
Conduct regular inspections of the property to identify maintenance issues, safety hazards, or violations of lease agreements or building codes. Inspections help to address problems proactively and ensure that the property remains compliant with regulations.
Lease Administration
Managing lease agreements, including drafting, executing, and renewing leases as needed. Property management companies ensure that lease terms are enforced, and they may handle lease negotiations, lease terminations, and eviction proceedings when necessary.
Compliance and Regulations
Ensuring compliance with local, state, and federal laws and regulations governing property management and rental properties. This includes fair housing laws, building codes, rent control regulations, and landlord-tenant laws.
Tenant Screening and Placement
Screening prospective tenants to ensure they meet rental criteria, including conducting background checks, verifying income, and checking rental history. Property management companies also handle the tenant application process and placement of new tenants.
Property Marketing and Vacancy Management
Marketing vacant units to attract prospective tenants, conducting property showings, and implementing strategies to minimize vacancy rates. This may include advertising vacancies, staging units, and setting competitive rental rates.
Financial Management
Handling financial aspects of property ownership, such as budgeting, accounting, and financial reporting. This includes managing operating expenses, tracking income and expenses, and providing financial statements to property owners.