Property Management

 

A team of highly skilled property management and leasing professionals work in conjunction with our asset management team to ensure each property is operating in the most efficient and cost-effective manner possible. Quick responses, thoughtful decisions, and fanatical attention to detail, along with strong working relationships with tenants, vendors, and local agencies, have earned us a best-in-class reputation that makes our buildings highly sought-after and more valuable.

Services include, but are not limited to:

 

  • Repairs & Maintenance
    • Preventive Maintenance
      • Regular maintenance and preventive maintenance are dependent on systematic building inspections and scheduled procedures. Complete inspections of each building, systems, equipment, and outside areas are performed and comprehensive monthly preventative maintenance reports are prepared.
      • We believe that there are no savings in deferred maintenance and that preventive maintenance is not only less expensive in the long run, but assists in avoiding the disruptions and headaches of structural or equipment failure.
    • Emergency Response
      • We are available around-the-clock to handle any emergencies. Our quick response 24-hour answering service contacts the appropriate personnel immediately.
    • Staffing
      • Our highly trained, in-house painting, repair, service, and maintenance crew enable us to minimize costs, provide rapid response times, and maintain quality control.
      • We conduct weekly staff meetings to train employees and to stay atop minor and major developments.
      • Our advanced work order system organizes jobs and helps track progress and completion. Additionally, it helps maximize efficiency and monitor staff and vendor performance.
      • We supervise building employees, vendors, suppliers, and contractors, including overseeing contracts and performance.
    • Inspections
      • Our professionals visit their properties at least once per week and usually more often. Additionally, surprise inspections are made from time to time to keep building staff alert.
      • Move-out, move-in, safety, and security inspections.
      • Our property managers perform an exhaustive 75 point checklist monthly.

 

  • Compliance Department
    • In this constantly changing regulatory landscape, we stay one step ahead of the myriad of filings and deadlines that buildings must meet; helping to avoid fines, violations, and delays.
    • We manage compliance with all requisite federal, state, and local filings, applications, permits, licenses, sign-offs, reporting, and violation removal.
    • We closely monitor compliance with DEC, DHCR, DOB, DOF, DOHMH, DOT, DSNY, ECB, FDNY, HPD, and other agencies. In addition, we monitor the expiration and renewal dates for mortgages, real estate taxes, insurance, legal documents, licenses, permits, building certificates, and more.
    • We coordinate mandatory inspections (elevator, sprinkler, stand pipe, boiler, façade, fire extinguishers, etc.).

 

  • Purchasing
    • We are able to secure bulk rates and extremely competitive pricing on a wide range of products and services. These include, but are not limited to: building supplies, fuel/gas, and insurance, in addition to legal, accounting, architectural, and general contracting services.
    • Maintain and thoroughly screen suppliers, vendors, and other professionals.

 

  • Insurance
    • We collaborate with insurance specialists to review policies, ensure proper coverages, and negotiate the best premiums available. We are able to achieve significant discounts and higher coverages than are typically available for individual buildings acting on their own.
    • Insurance coverages typically include, but are not limited to: property and liability, boiler and machinery, directors and officers, workmen’s compensation and disability, errors and omissions, employment practices liability, cyber liability, and blanket umbrella insurance.
    • Obtain and approve proper insurance coverage and indemnification agreements.

 

  • Project Management
    • Our professionals have considerable experience bidding and managing capital improvement projects such as: facade restoration, sidewalk/vault repairs and replacements, boiler/burner replacements, oil-to-gas conversions, installations of stainless steel chimneys/liners, elevator equipment upgrades/replacements, building security systems, intercom systems, building-wide lighting upgrades, plumbing/electric riser replacements, roof replacements, apartment renovations, lobby/common area renovations, and more.
    • For more details please see Development & Construction Management.

 

  • Accounting & Finance
    • A stringent internal system of checks and balances ensures accurate, honest, and precise reporting.
    • Monitoring and payment of all accounts payable, billing and collection of accounts receivable, cash management of operating accounts, reserve funds, member distributions and capital calls, administration of bank accounts, security deposit accounts, and reconciliations, project budgeting, cost control monitoring, and debt service assistance.
    • Preparation of reports such as: itemized rent collection reports, income and expense statements, general ledgers, disbursement reports, and monthly financial reports.
    • Administer and/or perform filings such as: DHCR, MBR/MCR, MCI, RPIE, J-51, and Real Estate Tax Certiorari.

 

  • Legal
    • Initiation of legal actions and appearance in landlord-tenant cases including: non-payment proceedings, holdover proceedings (non-primary residence, colliers, nuisance, illegal sublets, etc.).
    • Professional consulting and guidance for all Rent Stabilization, Rent Control, DHCR, and HPD matters.

 

  • Leasing
    • In-house apartment rentals and commercial leasing (advertise, market, screen, negotiate, lease renewals, correspondence, and compliance with lease terms).
    • Capitalize on additional revenue opportunities through billboard, cellular antenna, laundry facilities, and storage vendors.

 

  • Energy Efficiency
    • Properly maintained building systems use less energy, cost less to operate, and last significantly longer; providing both environmental and economic benefits.
    • Fuel Efficiency
      • Heat system balancing plays a huge role in fuel efficiency. Our boiler control system uses the latest technology to monitor, analyze, and regulate settings as needed. In addition, simple considerations such as cleaning and/or replacing radiator valves and traps have a significant impact.
    • Heat Conservation
      • To protect against heat loss, we insulate all exposed plumbing lines, install double-glazed windows, and use efficient insulation materials during renovations.
    • Water Conservation
      • Water and sewer expenses are a significant component of a building’s operating budget. Our maintenance teams regularly check, repair, and replace water and sewer components. In addition, we educate residents on water conservation techniques.
    • Utility Costs
      • We work with third-party utility inspectors and software providers to monitor the consumption of water, electric, gas, and fuel at our properties. With this information we are able to identify, track, and reduce consumption.
      • Our knowledge of energy procurement and ESCOs (Energy Service Companies) combined with our bulk purchasing power, allows us to purchase oil, electricity, and gas at excellent rates for our properties.
      • We partner with Con Edison and other publicly-funded programs to implement energy-saving devices across our properties and when applicable, consult with experts to use any cost-reducing incentives or rebates that are available from city, state, or federal agencies.