Back Office

We strive to collect all fees and rents when required.  We used detailed operating procedures that have been tested through trial and error in order to maximize collection of income.

Landlord & Tenant Relations

Having your property management company stay on top of accounts receivable is maybe the most important aspect of our services.  We will make sure that tenants are up to date with respect to rental payments.  Our office can quickly determine whether payments have been made at the beginning of the month and will contact tenants immediately whether it be by phone or letter about their failure to make payments.  Our office will make sure that payments are made and troubleshoot with the tenants any issues they would have to deter failure in making payments.  Should there be no legitimate reasons for the failure to make payments by residents, our office will coordinate with our legal counsels and decide the courses of action in New York City Housing Courts.  Of course, we will attempt to take all the appropriate steps to not incur legal expenses by working hand in had with tenants and communicating with them through the entire process.

Monthly Financial Reporting

Each month a statement of income and disbursements is prepared and presented to the Board or Owner. This statement will include copies of the paid bills and any outstanding invoices that are in need of payment. We use the pre-eminent property management software to help us prepare the statements on your behalf.  Disbursements are listed by date, check number, and invoice, and are shown against budget lines for the current period as well as year-to-date. Our statements are complete but easy to follow and are prepared under the personal supervision of a principal of our firm. Standard bookkeeping procedures are use and we have often been asked to make changes according to specification provided by our clients.

Inventory Purchases

In most case, the property manager will order supplies and materials directly.  However, when the requisitions are done by the building superintendent for supplies and materials it must be approved by the agent before ordered. We have an established standard operating protocol to contact our investors if we need to purchase inventory over an amount decided up by both you and our company.  The guidelines are clearly established in writing and is understood by all parties involved.  Satisfactory completion of labor and delivery of supplies will be approved prior to payment. We strive to get the best prices for our client and use competitive bidding strategies with respect to our vendors. Our purchasing power will be used to your advantage, and all savings, discounts and allowances will be credited to your account.

Additional Expenditures

Reviews are constant and fluid with respect to the areas of insurance, real estate taxes, and payroll as well as any other operating expenses. In the area of New York City real estate taxes, we will prepare necessary data to assist the attorney in any proceedings concerning an abate or a reduction in the New York City real estate taxes. When required, the Board or homeowner will be advised well in advance of capital improvements necessary to maintain and improve the value of the property and satisfaction of the residents. We have always maintained safeguards to prevent irregular disbursement from being made.