Property Management
Medley Landmarks has partnered with REI Liaison to provide highly personalized services, geared to meet the needs of the investors. We provide property management services to clients owning single-family residential properties and conventional multifamily housing communities. We take pride in providing professional, efficient and courteous service to all of our clients, customers and tenants.
Preparation of Property
Before putting a new tenant in your home, we will inspect the property and make recommendations and arrangements on any improvements that would enhance the value as well as the marketability of your home. Not only does the home need to meet certain housing standards, but also a home in good condition will attract quality tenants that will appreciate your home and consequently leave it in good condition when they vacate.
Leasing
We will promote and market each listing to attract the most qualified applicant to your property. Once an application is received, the important work begins. We believe that selecting the right tenant can eliminate most future problems and helps to ensure a great rental experience for both you and the tenant. There are several pieces of information that we gather in order to create a profile of all applicants for your property. These include verification of employment, landlord references, a current credit report and an analysis of their income to debt ratio.
Once the application is approved, a lease is prepared on a form meeting the requirements of the particular jurisdiction where the property is located. We then meet with the tenants in our office and fully explain the lease and all other pertinent information. Once the lease is signed and all monies collected, we're ready to hand over the keys.
Property Inspections
We stay fully focused on maintaining the overall condition of your property to keep the property value current with the market by conducting quarterly inspections. A report on each property will be provided detailing the condition of the property. We also ask our vendors who respond to our maintenance requests, to report anything during their visit at the property that may require attention or further investigation. Approximately two months before the lease expiration, we conduct a cursory inspection to assess the condition of the property so that we can determine what work may be necessary to re-market the property. Finally, after the tenant vacates, another detailed inspection is done to determine damages the tenant may be responsible for. All damage repairs including painting, carpeting, etc. and new tenant will be arranged. This schedule ensures the continued marketability and cash flow of your property, and keeps you apprised of its condition.
Rent Collection Procedures (optional)
REI Liaison collects the rental payments from your tenant and places them into a Trust account set up specifically for the Owner. Collected funds are normally dispersed within one week of receipt. If a tenant becomes delinquent in payment, strict procedures are practiced. These procedures may include personal contact with the tenant, legal notice of contract breach and eviction hearings. If a tenant is unable or unwilling to pay rent, eviction will be handled swiftly to restore your income stream.
Ensure Legal Compliance
REI Liaison will see to it that your properties comply with all legal requirements for rental purposes including, but not limited to, Section 8 and municipal requirements.
Emergency Contact
After hour emergencies are handled by our phone system 24-hours-a-day, 365-days-a-year. We use good judgment and restraint because not every tenant request needs immediate attention. One of the most effective techniques we employ is a common sense approach. Many tenants can (and are willing to) resolve their problems with just a little guidance. Often times, we can have the situation resolved with a phone call, eliminating any inconvenience to the tenants and at no cost to the owner. Otherwise, we call on our vendors to repair the service request.
Maintenance and Repairs
Our standard management agreement includes emergency service consent as well as authorization of non-emergency repairs up to $200. For repairs estimated to cost more than $200, no work is initiated without your express approval. Our vendors are licensed, bonded and insured. In addition, the volume of work we provide them assures us of priority response and very competitive prices.
Please see a listing of all of our residential property management services.
