Tenant Selection

 

Have a pre-defined tenant criteria.

Online listings craigslist etc. We do an attractive photo gallery and ad copy highlighting benefits of apartment and neighborhood attractions and amenities.

Pre-screening: 

All inquiries are prescreened before the showing is scheduled. This ensures an applicant does qualify to rent the apartment, It typically requires three times the rent for income. Additionally using State housing guidelines to avoid having too many tenants in a unit.

Showing: 

We schedule evening and weekend show times.  If a tenant currently resides in the unit we will coordinate suitable times with them.

Process application:

Identity:   Making sure prospective tenant is who they say they are, we verify the date of birth, social security number and drivers license etc.

Current living situation:   Verify current address, length of tenancy, amount of rent paid, check with the current landlord and previous landlords.

Employment and Income:   Contact current and former employers and check pay statements. A stable employee is usually a stable tenant.

 

Background checks: We check arrest records, housing court records and social media for red flags.

 

 

 

Tenant move out and move-ins

When a tenant gives notice to quit we send a move out a list to tenant outlining tenant responsibility regarding unit condition with the price list for noncompliance such as appliance cleaning, carpet replacement, wall repairs, painting etc.

We then do a walk-through to determine if the unit can be relet without any loss of income. This would be a best-case scenario, the larger a security deposit we can get the more likely it is to happen.

We begin the new tenant search and have a work plan in place to get the unit ready for the new tenants.

Our in-house maintenance crew means no downtime waiting for a contractor scheduled to clear and also assures the most competitive labor costs.

We set up a statement of condition document with photos for the new tenant to sign and collectfirst, last and security deposit and sign the new lease.

 

Maintenance

Ongoing maintenance includes responding to tenants to address any potential problems in their units or common areas.
The typical contract may call for weekly walk-throughs to check on, exterior door locks, exterior lighting, interior lighting, exit lighting, hallway cleaning and visual checks on heating and water systems, rodent/ insect infestations etc.
Landscaping/snow removal/ice treatment.

 

Preventative maintenance includes routine checks on Gutters, downspouts and roofing systems. Exterior stairways, fire escapes, painting, siding and parking lots and walkways.

Large expensive repairs and replacements can be anticipated long in advance and prepared for.

 

Managing tenants 

 

The top priority of any landlord is to have the rents come in a timely fashion.

Human nature being what it is, if not insisted upon, payments due on the first of the month will get later and later.

We strictly monitored this to ensure that arrears don’t accumulate.

Tenants have many options to make rent payments including automated bank transfers.

We have the knowledge and resources to quickly and legally navigate the housing court system to remove problem or delinquent tenants.

 

Lease renewals

It’s very important when leases are renewed to make sure that rents reflect the local market, small yearly increases are easily absorbed but neglected for several years become difficult or impossible to catch up without creating bad feelings. Remember one dollar a month increase in rent adds approx. $96 to the value of your building.

Inspections 

 

We do a yearly inspection of each unit to coincide with time changes when smoke/CO2 alarm batteries can be changed and a general inspection of the condition can be carried out.

Online portal

With a permanent link property owners can access in real time:

Income and expense summary. 

Current outstanding balance summary. 

Current occupancy summary.

View tenant payment history.
Confirmation of regular maintenance as it is being carried out.

Year end tax simplification +1099 forms.