Property Management Services
Serving owners, tenants and neighborhoods in the greater Syracuse area.
Property Management Services in Syracuse NY
Our purpose as property managers is to maximize the owner's income and shoulder the considerable stress encountered by rental property owners. Our niche is 1-6 unit residential properties. We understand that putting the investor's ROI needs first leads to everyone's success. Everything at Mel & Jay Management is pointed at that goal. We stand at the nexus of an ongoing business process in which success is achieved when everyone gains. This requires quality tenants who appreciate the places they are renting and indicate their appreciation by paying their rents on time; investors who are as interested in long-term ROI as they are in short term cash flow; and a community that is willing to work with non-resident investors.
Mel & Jay Management, LLC (MJM) began in the spring of 2005 and is a family business engaged in full-service income property management responsible to scores of owner-investors and currently managing over 200 living units.
Investors in multi-family residential properties, particularly those who do not live in the vacinity of their properties, face increasingly complex needs and a growing number of legal requirements. As a result they must entrust the operation of their properties to management professionals who perform the full gamut of necessary functions to ensure that their experience is profitable.
Rapidly changing asset values demand that managegement be knowledgeable concerning business requirements, neighborhoods, state laws, tenant acquisition and various public assistance programs.
All that being said, the most important parts of a property managers function are to use common sense, communicate and be honest. (Please take a look at the many customer reviews available from "Customer Lobby" )
What does Mel & Jay Management do?
Basically, MJM does what any astute owner would do. We assess what is reasonable and practical to make a property profitable and discuss our findings with the investor. We are philosophically committed to creating balance between investors, tenants and neighborhoods in a mutually beneficial synergy. To that end we are strong adherents of the Property Conservation Code of the City of Syracuse and the NYS Property Maintenance Code. We evaluate the amount of rent to be charged with the owners. We advertise for, screen and acquire new tenants.
We collect rents, handle emergencies, take care of repairs and maintenance, meet with city inspectors, handle rental registry requirements and if necessary we initiate and carry out evictions.
We automatically provide monthly financial reports to every owner. We do everything in our power to ensure maximized returns and that the owner's stress is minimized, In some cases we handle mortgage payments, insurance and pay water and utility bills. Trustworthiness and professional conduct and clear record keeping are essential.
Acquiring good tenants is a key activity for managers and owners. We have not placed a newspaper ad or used a "for rent" sign in several years because experience has taught us that these two sources do not necessarily provide quality applicants. Instead we exclusively utilize on-line advertising. We ask all applicants to fill out a rental application form which can be completed on line or printed out and filled in by pen. We check references, sources of income, former landlords and gather other information useful in finding tenants who will respect an owner's property, enjoy living in the property, who desire to remain more then one year if possible and who can afford to pay their rent. We use our own lease which is based on the official New York State Residential Lease Form modified to meet the need of the Syracuse market.
Our overiding purpose is to maximize an owners ROI. To accomplish this the manager needs to deal with:
- Renter's complaints and issues
- Handling emergencies
- Rent collection
- Discipline Insuring tenant adheres to the terms of their lease
- Recording collections and expenses
- Paying income property related bills (taxes, insurance, water, etc.)
- Providing owner with financial reports
- Advising owners concerning property improvements when necessary
- Communicating effectively with owners
- More Management Details
Maintenance of rental properties requires a number of decisions needing input from all parties. Finish levels are decided based on NY State and city codes, owner's funds available, and a skilled eye toward what is appropriate - which varies from neighborhood to neighborhood. The standard that does not vary is keeping properties up to code. In Syracuse the Property Manager is held responsible for all code violations..
In most cases we charge time and materials for our work. Materials are NEVER marked up by Mel & Jay, and labor charges for work done during normal business hours is billed at $40 per hour. If the work required involves a specialist (i.e. appliance repair, complicated electrical work requiring a licensed electrician and pulling a permit, plumbing requiring a licensed plumber and pulling a permit, furnace replacement) we mark up a sub-contractor's bill 20% The emphasis is on working for the highest return per dollar spent by the owner. We do not require that owners use Mel & Jay do the work on any owner's property. Owners may use any company they desire, but we do require that all work be done to our standards. Owners generally discover we are the least expensive and quickest way to accomplish maintenance.
Mel & Jay have several maintenance personnel ready to deal with any project. We handle a broad assortment of maintenance and remodeling issues ranging from shoveling sidewalks to large projects and our crews are available 24/7 to handle any emergencies that require immediate attention. Small items such as snaking drains, relighting a hot water heater or furnace or replacing a broken pane of glass are addressed as they occur. Larger issues are taken care of after consulting with the property owners. All pertenant work is backed up with before and after photos.
If there are emergency maintenance issues Mel & Jay will arrange to have them repaired to a level that removes the emergency status. An example of this might be a sudden plumbing leak that is destroying the owners property. We would repair the leak to stop any further damage and then discuss with the owner how to go about the repairing the property damage done before we were able to stop the leak.
Mel and Jay uses a national tenant screening database that includes information covering the areas of: Skips, Evictions, Criminal Activities, Non-Payment of Rent, Proxy Renters (people that lease on behalf of someone else, i.e. sex offenders, drug dealers or those with a history of evictions), Property Damage, and other pertinent lease violations.
Areas We Cover
We have received several inquiries about the areas Mel & Jay covers. Currently We have properties in Syracuse and the following outlieing towns:
- East Syracuse
Basically, if your property could be located on the map to the right it is within our coverage area.
The Fine Print
Before renting any apartment, Mel & Jay Management conducts a thorough background nationwide investigation of criminal activity and other negative behaviors through Rent Right Directory (RRD), which maintains an information database concerning tenant behavior. Their database includes but is not limited to: non-payment of rent, utilities, late fees or other sums due under a lease; skipping or moving out prior to lease term expiration; allowing unauthorized occupants to live with them; criminal activities at leased properties; not keeping leased property clean; littering in interior or exterior common areas; damage to apartments or appliances and above normal wear and tear, loitering; disturbing the quiet enjoyment of other tenants or neighbors; alteration to apartments without prior written approval from management; having a pet without written approval from management. This investigation is one factor that helps inform us of a prospective tenants suitability. Mel & Jay Management also reports to RRD any behavior consistant with the above which will be available to future landords and may affect their decisions concerning suitability for tenancy.
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