As a real estate owner these are unprecedented times. We’re here helping you navigate them.
OWNER FAQ
Here are some answers to common questions we have received in the past about our managed services custom to your specific needs.
You find and place tenants
Yes and fully qualify all tenants with income verification, credit checks, employment checks, and landlord history. After we review their application package and approve of them, they sign a lease and then we typically make an introduction to you via email or your preferred method.
You are the tenants primary point of contact for issues
Yes, the tenant reaches out to us and we have an extensive local rolodex for any maintenance needed. We would then give the contractor access to repair if need be.
You don’t manage rent or financials
We do offer as a service for Condo Associations where HOA fees are collected and landlords with multiple units. Money from tenants is typically paid directly to you either via Venmo or bank transfer in most cases. We certainly can manage financials, but we think it's overkill here if you are a small landlord.
You help tenants get acclimated to the neighborhood
Yes, since we live here and work exclusively in South Boston. We also know all the nuances a tenant goes through from getting a neighborhood parking permit to finding the right gym to go to. We typically get quite a few questions from incoming tenants on various neighborhood questions.
You handle all lease paperwork
That’s correct. We also include a custom addendum for your property which will include restrictions like no candles or mounting TVs unless it is professionally done. All the documents for your lease will be handled electronically, including lease renewals which we offer as a service.
You fund and manage repair contractors as needed to address issues
For Condo Associations we fund the repair contractor with Association funds, but for smaller landlords who want to manage payments, all contractors we work with can easily accept electronic payment from you. We also coordinate all tenant turnover which is typically a cleaning, maybe some painting and light repairs, and key changeover.
You manage legal issues like evictions, etc
We definitely can. We also have a few real estate attorneys we can refer. Since incoming tenants are carefully vetted it is rare for evictions in our managed properties. There have been situations where a lease break happens because a job loss or a relocation and we would negotiate on your behalf to give you the best end result which is typically the current tenant(s) pay rent until a replacement tenant is found.
You don’t charge a fee for your leasing services
For many years, the incoming tenants typically picked up the broker fee, times have certainly been changing as more apartments have been built and the market has shifted. We work to net you the highest rental number possible while making sure you get a quality tenant. Many times leasing agents will hold out for a full broker fee which in reality hurts the rentability of the listing because it makes it that much more expensive for the potential renter.