Congratulations! You own a condominium (or more) in Greater Boston and are enjoying the benefits of a stream of income from the historically high rental rates the city is experiencing. This is a wonderful opportunity for any investor. Having the right advisor can help you to protect your investment.
Senné offers a management service specifically designed for owners of rental condominiums. We only charge $135 per month plus time and materials for maintenance. Here are four important benefits of working with one of our specialist Property Managers. If you already have a Property Manager that isn’t taking care of any one of these items, talk to us right away!
1. Tenancy Evaluation
One of the most important decisions a Property Manager can help you make is who to rent to, and how much you should ask for. A good Property Manager knows the local market and reviews hundreds of tenant applications every year. You should be confident that your investment is rented to quality tenants, paying full market rent, and your Property Manager will help ensure that is the case.
2. Accounting 24/7
As a real estate investor, accurate accounting is crucial for tax season and making sound business decisions year round. Did you know that a good Property Manager should excel in accounting just as much as they do in maintenance? Modern Property Managers require secure, 24/7 online protocols for rent collection, vendor servicing, expense records, and financial reporting.
3. Peace of Mind on Maintenance
Being a landlord can have responsibilities at any moment any time of the day (or night). A Property Manager should have 24/7 fail-safe procedures for maintenance and emergency calls. They should also have strong relationships with relevant homeowners associations, other property managers, local authorities, and tenants. As your representative, a Property Manager can handle most maintenance issues at any hour.
4. Big Picture Advice
As industry professionals, Property Managers have their fingers on the pulse of the local real estate market and they should communicate anything to you that may affect the value of your investment. A Property Manager can coordinate with real estate agents, insurance providers, condominium associations, accountants, attorneys or others in effective ways that can save you time and money.
If you would like to sign up for management, or hear more details about services, reach out to us at any time!
Kate Pattison, Managing Director
617 314 9400