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 Property Management Services
Serving owners, tenants and neighborhoods in the greater Syracuse area. | |||||
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Property ManagementYour purpose as a real estate investor is to maximize your income and reduce ownership stress. We are 1-4 unit residential property managers who understand that that's our niche. 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 ApproachMel & Jay Management, LLC (MJM) is a five year old family business experienced in full-service income property management with responsibility for over 100 apartments and homes for dozens of owner-investors. As stated above, our overarching goal is to maximize investor's returns, and our operational philosophy is to create balance by bringing investors, tenants and neighborhoods together 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 What is Residential Property Management (RPM)?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 rental agreement which is based on the official New York State Residential Lease Form modified to meet the need of the Syracuse market. MJM covers the following activities for our owners:
Professional, Prompt and Courteous Service As a family owned and operated business with Syracuse roots and amd who own a number of properties in Tipp Hill we must strive for our investors and ourselves to provide professional, prompt, and courteous service or we would surely fail.
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 obtain the optimal monthly rent. We will also coordinate the completion of any maintenance or repair items you have approved using our network of vendors and subcontractors to ensure all work is properly completed.
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 percentageof our investor/owners to increase rents substantially.
Back to the top of the list. Design a Targeted Marketing Program We will design marketing program to rent your property as quickly as possible. We will pursue all leads and inquiries and schedule showings of your property during the week, evenings and weekends as the needs dictate.
Back to the top of the list. Thorough Screening of Applicants We will research each prospective tenant's rental and credit history, current employment and stated income.
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, appropriate behavior issues and the required property maintenance.
Back to the top of the list. Rent Collections and Disbursements We will collect rents at the beginning of each month and disburse the proceeds in accordance with your instructions If rents are tardy we will take appropriate action to collect the rent or remove the tenant from the property.
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:
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. Complete Property Maintenance Services We provide our clients with 24-hour emergency repair services. We minimize the cost of repairs and maintenance using our network of contractors, vendors, and handymen. We also coordinate property reconditioning, including painting, window coverings, floor treatments, etc. to prep your property for re-renting.
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 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.
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.
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as they are in short term cash flow and a helpful community.
