Our Services

Property Management

Description Of Property Management Services

We provide a full spectrum of property management services.

Financial and Administrative Services. These services include:

  1. Rents. We calculate, bill and collect fixed and escalation rents, send late notices and bill back late charges.

  2. Invoices. We pay all invoices. Because we manage over 40 buildings, we have negotiated quantity discounts with many of our vendors including our oil company, building supply company, insurance companies and landlord/tenant attorney. These discounts are passed on directly to the owners of the buildings that we manage.

  3. Bank Accounts. We maintain the operating account for the building and reconcile the account monthly. Excess balances are distributed to the building owner monthly.

  4. Security Deposit Accounts. We administer tenant security deposit accounts including remittance of interest and furnishing tax statements to tenants when required.

  5. Reports. We prepare and furnish comprehensive and itemized monthly rent collection reports, income and expense statements, general ledgers and disbursement reports.

  6. Legal Actions. We institute and monitor legal actions against delinquent tenants, including making required court appearances.

  7. Tax Certiorari. We coordinate tax certiorari preparation and filings with the building’s attorney and accountant.

  8. Tax Compliance. We prepare and furnish form W-2’s and 1099’s to vendors, etc.

Property Management Services. These services include:

  1. Hiring and Firing. We hire, fire and supervise building employees, vendors, suppliers and contractors, including negotiating contracts and monitoring performance.

  2. Repairs. We make recommendations as to repairs, improvements and alterations that should be performed to ensure the safe and efficient operation of the property.

  3. Tenant Relations. We respond promptly to tenant problems, complaints and questions.

  4. Building Services. We supervise and monitor building services.

  5. Site Visits. We visit the buildings as frequently as necessary to insure their proper management.

  6. Lease Compliance. We monitor lease compliance by tenants including requiring commercial and retail tenants to maintain insurance required under their leases.

  7. Insurance. We operate an insurance program for the buildings that we manage. Under this program we insure our buildings under a master policy that we competitively bid every year. This allows us to obtain insurance at premiums substantially lower and with coverages that are substantially better than those that individual property owners are able to obtain on their own.

  8. Legal Compliance. We monitor the compliance of the building with all current laws.

Leasing. We lease vacant space as it becomes available. Leasing services include:

  1. Advertising and Marketing. For any commercial or retail space, we advertise and list with brokers space availability. We actively co-broker all availabilities that we handle and cooperate fully with the brokerage community. If desired, we supervise the preparation of marketing materials and coordinate a marketing campaign for the property. We post all listings on our website and with Costar. We are active members of the Real Estate Board of New York and of the International Council of Shopping Centers and actively promote leasing availabilities at the many industry functions that we attend.

  2. Showing Space. We take prospective tenants through available spaces.

  3. Lease Documents. We negotiate lease terms and prepare lease documents and amendments, as appropriate. We supervise the negotiation and revision of lease documents by the property’s attorneys.

  4. Tenant Screening. We screen all prospective tenants including obtaining credit reports, checking landlord and financial references, reviewing financial statements, and personally interviewing each prospective tenant.

Project Management Services. In the event that major alterations, renovations or improvements are required to be made to a property then we act as project manager and supervise all phases of the project from the hiring of the architect to the supervision of the performance of the work by the contractor.

Compensation.

  • For Financial and Administrative Services and Property Management Services: we charge either a flat monthly fee or a fee based upon a percentage of total rent collections.

  • For Leasing Services for Commercial or Retail Space: we charge commissions based on our standard rates. No commissions are charged for apartment leasing.

  • For Project Management Services: fees are negotiated on a case-by-case basis depending upon the scope of work.