Staying DHCR Compliant Adds Value
After attending CHIP’s annual “Build, Buy, Hold, Sell: Strategies and Expectations for the NYC Real Estate Market” event, the big takeaway relevant to our business is clear. Staying DHCR compliant makes your portfolio more valuable. Savvy buyers often dig deep before closing to uncover compliance issues and will discount their offers accordingly, or even walk away. According to one of the CHIP panelists, “you have to have your ducks in a row” when it comes to compliance when selling.
The Right Systems are Critical
So how do you efficiently stay DHCR compliant to maximize your portfolio’s value in the long term? Processes should be automated so that they are completed efficiently and consistently. Tracking items in Excel and preparing forms by hand can be eliminated with the right software in place. Filing and retrieving important documentation can be completely automated. Disjointed processes are inefficient in the short term while making it difficult to consistently stay DHCR compliant.
MDS Explorer is a New York System
MDS Explorer is built from the ground up to help you efficiently stay DHCR compliant in the New York market. Our product includes features ranging from tools to manage Preferential Rents in Rent Stabilized portfolios to tightly tracking outstanding work orders to avoid violations. MDS has the benefit of focusing exclusively on New York, allowing us to nimbly change our software to match local law. MDS Explorer doesn’t include New York features, it’s a New York system.
It’s a jungle out there, but staying DHCR compliant doesn’t have to be so hard
Let us Show You!
Give us a call and let us show you how to stop managing your portfolio the old fashioned way. Everything from MCI increases to Annual Apartment Registrations can be automated without reinventing the wheel. Give us a call and let us show you what we’re talking about. Maximize the value of your portfolio by staying DHCR compliant as efficiently as possible with MDS.
