 |
|
|
|
|
|
 Property Management Services
Serving owners, tenants and neighborhoods in the greater Syracuse area. | |||||
|
Property ManagementYour purpose as a real estate investor is to maximize the owner's income and shoulder the owner's stress. Our niche is 1-4 unit residential properties and within that paradigm we understand that if we put the investor's needs first, the rest will follow. Everything at Mel & Jay Management is single mindedly pointed at that goal. A Balanced Approach
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 dozens of owner-investors and managing nearly 100 living units. To achieve our purpose we are philosophically committed to creating balance between investors, tenants and neighborhoods in a mutually beneficial synergy. 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, investors as interested in long-term ROI as they are in short term cash flow. What does Mel & Jay Management do?
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 of about business requirements, neighborhoods, state laws and requirements, sources for tenants and various governmental payment methods - when used. All that being said, the most important parts of a property managers function is to use common sense, communicate and be honest. Basically, MJM does what any astute owner would do. We assess what is reasonable and practical to make a property rentable and discuss our findings with the owner. 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. In a nutshell
Our overiding purpose is to maximize an owners ROI. To accomplish this the manager needs to deal with:
In more detail Professional, Prompt and Courteous Service As a family owned and operated business with Syracuse roots and who own a number of properties in the Tipp Hill neighborhood we have a vested interest in excellent service to our owners and your tenants. In the past six years we have discovered that there are four cornerstones to this business that are indefensible for success.
Back to the top of the list. Prepare Your Property to be Rented We will evaluate your property and make recommendations to prepare your property to generate the optimal return on investment.
Back to the top of the list. Determine the Optimal Monthly Rental Amount We will complete a market analysis to determine the optimal monthly rent for your property. We are able, for a high percentage of our investor/owners, to increase rents substantially.
Back to the top of the list. Design a Targeted Marketing Program We will design a marketing program to rent your property as quickly as possible, pursue all leads and inquiries and schedule showings of your property during the week, evenings and weekends as needs dictate.
Back to the top of the list. Thorough Screening of Applicants We will research and evaluate each prospective tenant's suitability. We often use a third party screening firm to handle the complexities of this stage of the business.
Back to the top of the list. Coordinate Move-In of New Tenant We will prepare all lease agreements, meet with your new tenant and ensure all agreements have been properly executed, instruct your tenant regarding rental payment terms and appropriate behavior. By law, all tenants are entitled to "quiet enjoyment" of their rental units. This means all tenants must conduct themselves in a manner that protects the rights of others.
Back to the top of the list. We insist your tenants pay their rent in a timely fashion. We send every tenant a bill around the 24th of the month stating what their rent due will be on the first. With this bill we send a self-addressed stamped envelope so the tenant can put their rent check or money order in the mail without hassle or cost. New York allows a tenant to pay up to five days late without penalty. If rents aren't paid by the fifth we begin more aggressive collection efforts. If tenants have not paid by the 20 th we generally seek eviction.
Back to the top of the list. Payment of Your Monthly Expenses At your request we will pay any expenses on your behalf such as:
Back to the top of the list. Detailed Monthly Accounting Reports We will provide you with monthly itemized statements showing income and expenses related to your property. We will also provide with a year-end accounting summary of your account.
Back to the top of the list. Fill out and send the guick contact form and we'll get in tough with you about your property.
Internal sources and links.
External sources and links. |
|||||
|
Syracuse's only member: of the National Association of Residential Property anagers
© Copyright 2005 - 2010 Mel & Jay Management, LLC, PO Box 11123, Syracuse, NY 13218. All rights reserved.
|
We are pledged to the letter and spirit of U.S. policy for the achievement of Equal Housing Opportunity. We support an affirmative advertising and marketing program.