Residential property management service is the practice of managing income-producing homes, like single and multifamily homes, condos, townhomes, and apartments. Property managers act on behalf of the property owner, overseeing everything from marketing to leasing and ensuring maintenance. They also collect rent, handle security deposits, and address tenant issues.
Residential investment properties come in a variety of sizes and types, from co-ops to luxury condominiums. The most common are apartment buildings, which tend to have higher turnover due to the number of tenants compared to commercial buildings, but also typically have more complicated rules regarding renter eligibility. Many apartment complexes are also operated under affordable housing programs, which require special qualifications for tenants and have more stringent reporting requirements.
BH Management Services offers residential investment management that is customized to the specific needs of each building or community. Their team of experts can provide a rental market analysis and recommend improvements that will increase profitability, or they can start with the tenant placement process, using marketing, showings, and screening to find quality residents and draft custom leases that ensure legal compliance. Daily management includes online rent payment options and a resident portal, cost-effective maintenance that catches problems before they become costly, renewals with market monitoring to protect against price increases, and compliant evictions to return the property to profitability as quickly as possible.
FirstService Residential Manhattan offers full-service residential and HOA management for condos and co-ops, as well as a specialized team for large investment properties that may be part of an affordable housing program. Their custom solutions are built around each building to streamline the process and ensure it meets your financial goals, with on-site assistance, tenant insurance, landscaping, and property bill payment included for convenience and efficiency. residential property management service