Increase your property’s value and your return on investment. To do this, it is imperative we understand your goals and objectives for the property in order to give you appropriate direction. Together, we develop and implement a plan to achieve those objectives in a professional and forthright manner.
It is actually a net gain to engage a reputable management company – as long as all parties keep their commitment. Savings in time and money due to shorter vacancy periods, lower maintenance costs, and longer-term tenancies along with our professional guidance will in general significantly offset the management fees.
Communication is the cornerstone of any successful owner-management relationship. We utilize your preferred means of communication and provide monthly financial reports along with ongoing property updates as events occur.
There is no set schedule for every property. In the first several months of a tenancy, we visit the property a number of times to develop an understanding of the tenants as well as the state of your property. Thereafter, depending upon tenant proclivities and circumstances, an inspection schedule appropriate for your property will be implemented.
Procedures are in place for tenants, vendors, and property owners to contact us 24/7 in the event of any situation requiring immediate action. Qualified repair professionals on standby are able to handle the situation as quickly as possible.
Every owner has a different level of comfort regarding bill payments. We customize your property agreement according to your specific level of desired involvement. Mortgage payments, HOA fees, taxes, homeowner’s insurance, ongoing maintenance costs, repair invoices, and occasional utility charges are among items we coordinate with you for processing.
We provide monthly and year-end financial reports, sufficient for you or your tax professional to complete all necessary taxes. Appropriate tax forms are provided as required.
With appropriate screening, this is not a common occurrence, but situations occasionally arise. When payment is not received, we contact the tenant verbally and in writing to determine the nature of the problem causing non-payment. If there is a way, a plan is developed and implemented to restore full payment and a prompt return to the terms of the lease agreement.
If the problem continues without resolution, the situation is escalated through the legal system using one of several legal professionals well-versed in real estate law. Should it become clear the tenant will not be cooperative, legal action may be initiated? Our goals are to:
- Regain possession of your property in as expeditious and inexpensive means as possible.
- Protect your property.
- Limit your financial exposure.
Depending upon the specific case, nature of the complaint, and the tenant’s response, the process could last anywhere between 3 to 10 weeks. We are often successful in accomplishing these goals in a much shorter period of time. If there is no merit to the case, legal fees generally range from $300 to $1500, occasionally more though seldom exceeding $2000.