Managing The Property 

 

After our investor client buys an investment property in New York, the next step is to market to potential renters.  The broker fee for both landlord and tenant's brokers are paid by the tenant.  Both brokers still represent the interest of their respective clients despite fees coming from the tenant. 

 

Here are the steps we perform:

 

  • Market property to tenants

Personally, show your property to potential tenants/their agents

Convincing presentation of property's upsides

Internet marketing (Website, Broker system, Streeteasy, Trulia) 

Professional photography

Professional floor plan

Google marketing

Social media marketing (Facebook, Twitter)

  • Screen potential tenants (credit score, references, salary, work history)

  • Arrange for tenant move in

  • Set up automatic transactions for the tenant to automatically deposit monthly rent checks into owner's account.  

 

The system above removes the need for the owner to pay monthly property management fees.  Property management fees are anywhere from 5% to 10% of gross rent.  Since Manhattan tenants are usually high income and good credit quality individuals, there is usually very little management necessary.

 

As the need arises where the tenant requires attention, we will be the point of contact to help resolve the issue at hand, and we would charge the client for time.  If the client prefers, we can also refer a professional property management company.   

Property managment