LEASING:
There are 3 main principles to our leasing strategy :
- Vacancy must be filled as quickly as possible:
A well-maintained building, and a bright clean space, offered at, or close to, market rents should not be difficult to occupy with a good tenant. There is no reason it should be vacant. This applies to both residential and commercial.
2. Leave no stone unturned:
We don’t just enter the listing into the MLS and wait for the phone to ring. We advertise the space on all relevant internet listing sites. We build multiple data bases of potential users, according to permitted use of our space. We contact them with mailers, emails, and in person, informing them of our available space. If necessary, we keep expanding our data bases. This process doesn’t stop until we find a qualified tenant.
3. Dig deeper into background checks: In addition to our standard third party background check, We follow up with past/present landlords, past/present employers, personal and business references. We even do our own google/social media research on potential tenants. The more we can find out beforehand, the less problem tenants we tend to have.
MAINTENANCE:
Some Investors are not fully aware of the importance of proper maintenance. We get their tenants all the time. Too often we hear “our last landlord never fixed anything.”
THE PROBLEM WITH POOR MAINTENANCE IS:
- Good Tenants will vacate a shoddy property first chance they get
- The old adage “a stitch in time saves nine” absolutely applies to real property.
- Liability from the negligence, leading to personal injury, can wipe out the entire investment.
- The property valuation for refinance and resale decreases substantially.
We have over 35 years experience maintaining and repairing properties. We know what needs to be done. We know how to do it as economically as possible.
FINANCES:
Serious Investors keep track of how their investments are performing.
We treat all the properties we manage like serious investments.
All rents are collected and accounted for. All expenses are paid and accounted for. Late Rents are charged late fees. Any rents not received by the 15th of the month trigger a collection and eviction process.
Periodic statements inform the owner of all of this activity. All of this information combined with the acquisition, debt and other relevant information are combined to produce a periodic Investment Performance Report showing the owner his/her current return on their investment. All relevant bookkeeping is regularly forwarded to the owner or designated tax professional.
LICENSED BROKERAGE:
We are independent licensed real estate brokers.
We pay to have a lot of tools at our disposal:
- Membership to HUDSON GATEWAY ASSOCIATION OF REALTORS.
- Membership to ONE KEY MLS (Orange, Rockland, Westchester, Long Island, Manhattan)
- LOOPNET, COSTAR, CREXI, and various other sale and leasing sites give us direct access to any investment property for sale and every marketing tool available to help sell or lease property.
We cooperate with any of the many thousands of real estate brokers throughout the country. In every transaction, buy, sell, or lease:
WE REPRESENT OUR MANAGEMENT CLIENTS.