The New York City Apartment Management Checklist

The news of Signature Bank New York failing on March 11, 2023 was a sharp reminder of the uncertainty which faces all businesses and the need to manage risk and remain nimble. At one point, there was a real question as to whether uninsured deposits would be available to our customers on Monday morning and whether basic banking services would continue to function. Over the past 48 hours, our team...

As property managers, one of the most important touch points that you have with your clients is the package of reports you deliver on a monthly basis. A good property management report package should be easy to understand and hold up to close scrutiny.  Opening balances need to tie in with the prior month and each report should be complimentary and supportive of the others in the same package....

One simple, but very useful feature built right into the core of every MDS system that you may not be aware of is called Find Tenant’s Deposit. While you aren’t likely to need it often, it will save you tons of time when you do. Let’s discuss how this feature can come in handy at a critical moment: When a deposit goes missing and you have a tenant on the phone. Imagine this scenario: A tenant...

Here’s the way your life as a landlord has likely looked each month when it comes time to begin sending out an NYC lease renewal notice: Review expiring leases on a monthly basis and make decisions about new rates Print multiple copies of your upcoming renewals and supporting riders Mail these packages by Certified Mail to residents that may or may not be renewing Follow up throughout the...