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Your Investment Property in Westchester, NY: Do You Need a Property Manager?

property-management-westchester-ny

 

Depending on the type of property and the situation of the owner/landlord, property management can save a ton of time and energy. It also has a sizable return on investment, especially when you consider all of the time consuming – and dollar consuming – responsibilities associated with managing the property.

Here are some questions to consider that offer insight into whether hiring a property management company is the right decision for your property:

 

How Close to Your Home Is Your Rental Property?

The more miles between you and your investment property, the harder it is to manage. If your primary residence is a substantial distance from your rental property it will be more difficult to market to new tenants, respond effectively to tenant issues, and to respond quickly to emergency repair situations. In addition, routine maintenance can be more problematic if you are doing it yourself.

When the distance between your home and investment property is a commute, it is a solid indication that you could benefit from a property management company.

 

How Many Units Do You Own?

The more units or properties you own and invest in, the less time there is to handle everyday responsibilities. With more tenants, an owner is required to handle more maintenance, tenant issues, and turnover you will have to tackle.

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In addition, if your units are spread across multiple properties, you will spend even more time managing the cash flow of each individual property, as well as physically commuting from property to property to handle issues.

 

 

Do You Have A Lot of Experience Managing Property?

If you don’t have experience as a landlord, managing property can be pretty overwhelming. It is a good idea to discuss the situation with a locally focused property management team, in order to get a grasp of all the responsibilities and details. Understanding what managing a rental property entails is the first step.

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When you are just starting out as a property investor, choosing the wrong maintenance contractor or having lag time between tenants could cut into your potential income. The job of an experienced property management company is to maximize your revenue.

 

GET IT RIGHT 

Some issues are more important than others when it comes to property management. But it is vital to choose a company with full knowledge of federal and local housing laws. The regulations regarding discriminatory housing practices, for instance, can change yearly. Not only that, but each county and even municipality can have their own laws and codes. Working with an experienced, local Westchester property manager is the best way to avoid issues.

Hiring a property manager without enough experience, or who doesn’t have your property’s best interest at heart, can eventually lower the value of your investment.

This is why it is so important to do your research and thoroughly screen a property manager if and when you decide hiring one is right for you.

 

Do You Have the Time to Manage Your Property?

If you have a full-time job while you are investing and don’t have enough time to dedicate to the upkeep and marketing of your property, the success of your investment could be highly influenced by the quality of your property management company.

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Everyone knows – time is money. If you decide that the day-by-day responsibilities of managing your property take too much time from your other career or investment pursuits, hiring an outside manager is likely the best choice for you.

 

Do You Have a Vacancy Issues or Cash Flow Problems?

The top property managers, like Sterling Property Solutions are skilled at marketing all types of properties, including residential, commercial and condos. Look for a firm with local market knowledge that will allow their marketing plans and network to find new, high quality tenants for your property.

A good property management team will also have a large, local network of affordable sub-contractors and repairmen to resolve emergency issues.

Lower your possible risk of costly lawsuits by working with a property management team that has comprehensive knowledge of local tenant/landlord law.

 

What is Your Tolerance for Dealing With Tenants?

Many property owners and investors find dealing with tenant issues is one of the most difficult aspects of property management, including rent collection, disputes, and maintenance issues. Good property manager are highly experienced and successful at resolving conflicts. They have a comprehensive knowledge of landlord-tenant law, and can act as a shield, or cushion, between you and tenant problems. Additionally, if the tenant understands they are working with a highly professional third party, they may behave more professionally.

 

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Whether to hire a property manager isn’t always a straightforward decision. A lot of factors come into play. But if you are new to property investing, or your time would be better served following other pursuits, then picking the right property manager is a great choice.


Contact Sterling Property Solutions today for all your Westchester County property management needs!

Sterling Property Solutions

77 Tarrytown Road Suite 1E
White Plains, NY 10607

T: (914) 355-3277

F: (914) 831-7444

E: sterlingpropertysolutions@gmail.com

 

 

Top 4 Real Estate Tips for Fall Homebuyers in Westchester, NY

The spring and summer housing market in Westchester can be heated, filled with cash offers and bidding wars. There isn’t the same level of urgency in the fall, yet a good house is still going to get offers relatively quickly depending on the price level. Here are  the top reasons the fall market can be the right time for you to buy a house in Westchester, NY.

 

 

1. Not as much competition in the fall market

The intense competition for houses under $1.5 million dies down in the fall in Westchester. It is generally thought of as off-season but homes are still out there, even in October. The inventory that remains from the spring and summer markets may have been priced incorrectly, or need minor fixes.

While there is new inventory in the fall, it isn’t at the rapid pace of spring and summer. Still there are less buyers in general. Another advantage is that families who were on a mission to move into a new home before school started are out of the picture.

Less competition and less offers create leverage in negotiations. Homebuyers can think about offering less than they normally would, in the end getting a positive discount on the sale. Another great tip is to mention in the offer that you can close before the holidays, in order to further incentivize the seller to close the deal.

 

 2. It’s all about you

Real estate agents are generally busier in the spring and summer. The competition for houses is hot, and agents are often doubling up showings and stretched thin. That could result in you not getting as much individualized help as you wanted. This also goes for the other services involved in buying a home, like inspections, title companies and mortgage lenders. These professionals have gotten past the piles of paperwork and appointments from all the sales and have time to breathe.

 

 

Movers are also far busier in the spring and summer. In the fall they could offer discounted pricing to obtain business because the demand for their services isn’t as high.

 

3. Sellers are motivated and ready

While many homes still on the market in autumn are leftovers from summer, some are on the market because the situation is right for the seller. One scenario is the sellers were building a home and now it’s done, so they are motivated to sell and move in. Or maybe the homeowner got a new job and needs to relocate soon.

Sellers are more earnestly, and often urgently, trying to sell their home in fall. During spring and summer they are often content to wait it out until they get the offer they are looking for.

 

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4. Sellers feel home selling fatigue

There are sellers out there whose homes didn’t receive any accepted offers in the spring and summer. These home sellers may have been unrealistic in pricing their homes when they were listed. Now that time has gone by and they haven’t gotten their asking price, they might be ready to make a deal.

Since there is comparably less competition, the sellers are more motivated to accept offers that were rejected in the summer. The other, less appealing alternative for sellers is waiting another six months for the hot real estate season to come around.


Sterling Property Solutions can help you navigate the fall and winter real estate markets

Contact us now for a consultation, or check out our MLS listings and call us when you see a home that we can show you!

Sterling Property Solutions

F: (914) 831-7444

77 Tarrytown Road Suite 1E
White Plains, NY 10607

 

 

 

How to Take Advantage of the Fall Real Estate Market in Westchester

 

sell-house-fall-westchester-nyWith the summer real estate season in the rear view, what are some of the ways to make the most of the fall real estate market?

There are a few things that are unique to fall when it comes to buying or selling your house. Here are some tips and insider information to help you take advantage of the Westchester market: 

 

 

 

Fall Real Estate Market’s Shorter Time Frame

 

While the always-hot spring market typically lasts from March to June, the fall real estate market lasts a much shorter time – September and October. Things start to pick up again after the summer lull right around when the kids go back to school.

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Sellers: The shorter window of time to make the sale means selling quickly, so take into account all the ways to encourage potential buyers to make offers right away. Some tips include improving curb appeal using autumn’s natural beauty, making sure you have the home staged properly, and pricing the home correctly.

The entire process is squeezed into a shorter frame, so if you need to lower the home price in order to sell, it is best to make that decision fairly quickly.

Buyers: If your situation means buying a home in the fall is best, you may have to make a quick offer in order to strike while the inventory is high. Doing research on various neighborhoods and towns will give you the confidence to make a decision once you find the home that calls out to you.

 

Less Competition for Westchester Houses in the Fall

 

Sellers: Many people think of the spring real estate market as the best time to sell. That may be true depending on your particular home and neighborhood. The bidding wars and number of houses on the market are advantageous, but also consider the amount of competition in attracting buyers.

With so many homes on the market in the spring, sometimes they are priced more competitively. In the fall, there are less homes on the market, so in theory the need to cut the price mid-season far less.

Buyers: You may have the instinct to overbid or get in a bidding war due the shorter season and lower inventory. Try to remember that just as there are less houses, there are also less potential buyers out there to compete with.

 

Curb Appeal is Important for Selling Your House in the Fall 

 

Fall-decor-ideas-to-sell-houseSellers: Spring is a wonderful time to showcase your yard and your home’s appeal. The flowers and grass are fresh and new, the colors vibrant. Photos look great at that time of year. But fall is also a great time of year to take advantage of nature’s beauty.

 Staging the house with fall in mind and decorating for the season can add just the right touch. You can find great ideas on Pinterest and Houzz.
Before your real estate team has photos taken, make sure to change out mulch and replace any old flowers and plants with season-appropriate plantings.

 

 

 

If you aren’t listing until later in the fall season, have exterior photos taken when the foliage is at its best. That can give you time to get the interior into showing shape, and ready for interior photos.

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And don’t forget about the low interest rates! After a slight bump in the summer months, rates are back near historic lows – this fall is a really good time to buy a house.


Contact Sterling Property Solutions today for all your Westchester County real estate needs!

Sterling Property Solutions

77 Tarrytown Road Suite 1E
White Plains, NY 10607

F: (914) 831-7444

 

 

Westchester Property Management Q & A with Linda Einfrank

 

Our property management and real estate team in White Plains helps owners and investors buy, sell, rent, and manage their properties. Our earlier articles have focused primarily on what we do, and how we do it.

Portrait of Linda

Here Linda Einfrank, President of Sterling Property Solutions, offers a Q & A about property management in Westchester County, and some behind the scenes insight.

Westchester, NY Property Management and Real Estate Services

 

1) Sterling’s property management team are also licensed real estate professionals. What are the advantages of hiring a firm that does both?

 

Linda: Property management companies work with investors who want to get the most value and return on investment (ROI) from their property, or potential property.

A property management firm like ours knows about all the various available buildings, and types of buildings, due to our property management clients and network. The owners of these buildings who are looking to expand their real estate investment portfolio then need someone to find new properties.

Since we are already familiar with the local market’s  availability and property values, we are a perfect option to help them find new buildings. That’s where our real estate experience and being licensed real estate professionals offers our clients an advantage.

Clients especially appreciate our flexibility in wanting to offer the best possible service. At Sterling, we are happy to find you new properties without managing them. Or, we can help you do everything from closing the sale to handling rent collection and repairs. We know our clients and their needs, we know property management, and we know real estate in Westchester.

 

2) Sterling Property Solutions focuses solely on Westchester County, NY. Are there benefits from working with a hyper-local property management firm?

 

Linda: All of our business and our properties are in Westchester – this is where our expertise is. Our office is in White Plains, which is central to Westchester. We can be at any of our properties or potential buildings within a half hour. We’re very hands on!

 

Leading Westchester’s Top Property Management Company

 

1) Is there anything you’d like to mention about property management that tenants, owners or investors wouldn’t know?

 

Linda: Property management is a 24/7 business! That’s the biggest thing that surprises owners who want to DIY management of their property.

Between rent collection, tenant relations and emergency repairs, managing your property really can be like a full time job. We have the resources, connections and infrastructure to handle any problem, even in the middle of the night.

A property owner wouldn’t have the same level of resources – the plumbers, the electricians, the handymen – at their disposal. In addition, the longstanding relationships we have allow us to get really good pricing.

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2) What is the most rewarding aspect of owning and running your own property management and real estate business?

 

Linda: The most fulfilling thing about my work is when you match a tenant to the right property. It’s rewarding to find someone a home, or maybe they can’t afford a home, but we find them something to rent that they really love.

Matching the right person to a rental property also makes our owner clients happy, because we find great tenants. We listen to tenants’ needs, which over the long haul creates positive, long term relationships between tenants and owners.

It all works out:  the result for our owners is low turnover and low vacancy, both of which lower marketing and remodeling costs; the result for tenants is a happy home that they love. The landlord has a happy tenant, which makes a happy landlord. It’s a snowball effect.

 

read more about Linda here. 

Contact Sterling Property Solutions today for all your Westchester County property management needs!

Sterling Property Solutions

77 Tarrytown Road Suite 1E
White Plains, NY 10607

F: (914) 831-7444

 

 

The Advantages of Using a Westchester Real Estate Professional for Property Managment

The primary choice homeowners or investors make when they’re ready to get tenants into their Westchester, NY rental property is whether or not to hire a property management company.

A property manager will cost a small percentage of your total rental income each month, which is the reason some people hesitate when considering this option. In reality, the services that a top quality property manager delivers can be worth much more to your bottom line and your sanity.

Renting out a property takes a lot of effort and large chunk of your time, which are major downsides to going DIY. Westchester’s best property management firms will alleviate the headaches and pitfalls of renting, having the potential to make life much less stressful and more lucrative!

 

What a Property Manager Does, and the Real Estate Connection

One of the primary reasons to hire a property management company is they create a buffer between you and your tenant. If any problems arise with late rent payment or property damage, the property manager handles it, taking the specter of any uncomfortable conversation or confrontation off your hands. Not to mention, again, the time commitments involved.

Today’s top property managers in Westchester County, NY are fully licensed real estate professionals. Take Sterling Property Solutions:  we know the particulars of state and local laws, and can advise you about your landlord rights.

We also know everything there is to know about the local real estate market, including market analysis, price comparisons, and other services usually provided by real estate agents. The fact that we manage properties ranging from individual condos to commercial office buildings adds another layer of expertise and experience – to get the most bang for your buck when you rent out your property.

A sampling of the duties that you can expect from a property manager include:

  • Advertising and marketing your property
  • Sourcing and screening potential tenants
  • Managing your financial accounts
  • Completing inspections on a consistent basis
  • Organizing and sourcing repairs and maintenance

A good property manager like Sterling Property Solutions will provide as much management of your rental property as you want. We are specialists at understanding and handling details. In addition, we are expertly qualified to prioritize, budget, and perform any duties that are needed for the successful and profitable management of your property.

Working with tenants in your rental property

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When you are first mulling over renting out your property, you may not realize at first the hefty amounts of time and effort that are needed. A property management company that is staffed by real estate agents can help you get quality tenants to help you avoid periods of vacancy and the resulting income loss. They will utilize up to date and hyper-local marketing methods to ensure your rental is highly visible to potential tenants in searches, online, and other necessary channels.

 

As you can see, there are many advantages in hiring a property manager who is also an experienced, local real estate agent with unparalleled knowledge of your area. With a crucial understanding of the local real estate market, your fully licensed real estate & property manager will be able to inform potential tenants of all of the relevant information they need regarding the property, and the surrounding neighborhood. More importantly, choosing a firm with comprehensive real estate and property management knowledge will help you maximize the revenues your rental property brings you. And isn’t that the bottom line?

 

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Contact Sterling Property Solutions today for all your Westchester County property management needs!

Sterling Property Solutions

77 Tarrytown Road Suite 1E
White Plains, NY 10607

F: (914) 831-7444

Adapt Your Westchester, NY Home to Its Selling Season

As Summer approaches in Westchester County, we thought it would be useful to offer some information explaining some of the different issues and solutions that arise in each of the seasons. You know Sterling Property Solutions as a residential, condo, and commercial property management firm. But did you know we are licensed real estate professionals who not only can help you buy or sell your home in Westchester, but also know the area, the ins and outs of the market.

Spring and Summer are the busiest seasons for selling or buying a home. But the reality is, homes are bought and sold all year long. There are clear challenges to selling a home in the winter, but there are also challenges to summer selling – think about keeping the lawn perfect as just one summer example.

An off-peak season might be the right time for you or your family’s situation. And for some sellers and buyers, winter has some advantages – as long as you know how to sell for your house’s season, whichever it may be.

Here we present a fantastic and relevant article by the real estate experts at HGTV.com that offers tips for selling your house in any season:

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Adapt Your Home to Its Selling Season

 

Play up your home’s amenities for the season in which you choose to sell.
There’s a selling myth that you should wait till springtime to sell your home. While spring is the busiest season for real estate sales, people buy homes 365 days a year. If you decide you need to sell your home in the off-peak season, emphasize its seasonal amenities.

Choose Your Selling Season

Because many buyers prefer to move in the spring or summer, the market starts to heat up as early as February. Families with children are eager to buy so they can move during summer vacation, before the new school year begins.

The market slows down in late summer before picking up again briefly in the fall. November and December are traditionally slow months, although some astute buyers look for bargains during this period.

Despite these trends, not everyone’s situation will be the same. Ask yourself questions like these:

  • How quickly do I need to move? If you need to relocate quickly for a new job or family emergency, you’ll need to sell as quickly as possible. If your moving dates are more flexible, you may be able to get a higher sale price in the spring or summer.
  • What season will your home be most desirable? If you’re selling a lake or beach home, for sale homes will be most in-demand in the early spring and summer months. A ski chalet in Aspen would make more buyers bite during wintertime.
Once you’ve chosen your selling season, play up its perks!

Master these tips for a successful home sale no matter what season it is:

Winter Selling Tips

  • Clear snow and ice away from walkways and stairs. If you live in an area with lots of snow and ice, keep walking areas salted and shoveled. Buyers and agents want to see that your home is well maintained, and, of course, you’re not likely to wow a house hunter if they fall on the way in and break a leg. Learn more about boosting your winter curb appeal.
  • Stage it outside. Even if the grass is brown and the patio is snow-covered, you can still do some outdoor staging. Tasteful winter wreaths and garlands can make your home seem welcoming. Just like inside the house, pick decorations that will appeal to a wide variety of buyers — blow-up snow globes and giant plastic Santas are probably no-nos. Learn more about staging for the holidays.
  • Make it cozy.
  • Clean up your windows.

Fall Selling Tips

  • Keep your lawn in shape. Just because summer is over doesn’t mean you should abandon your lawn. Patch up any brown spots in the grass, and keep falling leaves at bay with frequent raking.
  • Get a fall garden. As your summer plants start to fade, replace them with vibrant mums or other colorful plants. Tasteful fall decorations, like pumpkins or tri-colored corn, can also add to your home’s curb appeal.
  • Get indoor fall decorations, too. Without breaking the bank, get a few fall-colored decorations, like inexpensive window treatments or seasonal dinnerware. Fresh decor will make your space seem current and well-maintained.
  • Repair outside lights. As the days get shorter, you may end up showing your home in the dark. Make sure your outdoor lights are clean and working — if they’re dirty or broken, buyers will get a bad feeling before they even come inside.
  • Keep exterior photos of your home up-to-date. If you listed your home in the summer, update your online photos with brand new fall shots. Pictures from the previous season make your listing seem dated.

Spring Selling Tips

  • Whip your yard into shape. When you’re selling in the spring, you need to get your yard in shape as quickly as possible. Clear winter yard debris, and get frost-resistant plants that won’t be affected if a late cold spell hits. Or, invest in silk flowers for a touch of color that you don’t have to worry about watering.
  • Do some spring cleaning. It’s natural to want to spruce up your space in the spring, so scrub away! A sparkling home will impress buyers and make your home seem even more appealing.
  • Box up your winter wardrobe. Bulky winter clothes take up lots of space, so move them out as you de-clutter your closets. You’ll impress buyers with all that space.
  • Spruce up the entryway. If your welcome mat is covered with winter dirt, pick up a new one. A clean, pretty doorway will help set the tone for the entire showing.
  • Bring spring aromas indoors. Spring is not only a colorful season, but a fragrant one, too. Bring the aroma indoors. Scents have a profound effect on mood, so infusing scent into your decor with diffusers, candles, fresh cut plants/flowers, or incense can change the overall feeling of a space.
  • Bring out the bright colors. Tuck away the heavy, winter flannel comforter and pull out crisp linens with coverlets for color. Bring in the spring with floral-designed spreads or colorful solids. Don’t forget accent pillows for added style and comfort.

Summer Selling Tips

  • Highlight your outdoor areas. This is your outdoor space’s chance to shine. Clean your deck, porch, patio or outdoor kitchen, and repaint or make repairs if necessary. No deck? Arrange chairs or outdoor furniture in your yard to create the illusion of an outdoor room. Make necessary repairs to your home’s exterior, including your siding and windows.
  • Play up the pool. A pool is a huge selling point during the sweltering days of summer. Keep yours clean and debris-free, and create a seating area near the pool where buyers can imagine themselves floating through the cool water.
  • Spruce up your landscaping. Make sure your lawn and flower beds aren’t languishing in the summer heat. Add pops of color to your entryway with potted plants.
  • Add value and security with lighting. Frame your walkways and driveways with lights for a stylish touch.
  • Don’t skimp on the air conditioning. House hunters will want to escape the heat so make sure your home is nice and cool. Set the thermostat at a comfortable level, so it doesn’t feel like an ice box either.
  • Provide refreshments. Even though you likely won’t be home for a showing, greet buyers like you would party guests. During the dog days of summer, set out a cool pitcher of lemonade for buyers. Anything you can do to make them linger a little longer can only help you sell.

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Contact Sterling Property Solutions today for all your Westchester property management needs!

Sterling Property Solutions

77 Tarrytown Road Suite 1E
White Plains, NY 10607

F: (914) 831-7444

Zillow.com: 5 Benefits of Using a Property Management Company

Why Use a Property Management Company in Westchester, NY?

shutterstock_329026565Are you a hands-on landlord, or would you prefer to avoid weekend maintenance calls or monthly rental income and expense management? If you’d rather have someone else handle the details, hiring a property management company to manage your real estate investment might be the right choice for you. Yes, they’ll take a cut of your rental revenue, but they can also help streamline your business and free up your time.

Take the time to research and interview several companies. Choosing a property management company is a big decision, and not every property manager will offer the same level of service or be the best fit for your needs. But, when you find a good one, you may never want to go back to managing rentals on your own.

Here are 5 benefits a property management company can provide.

Screening out problem tenants

Experienced property managers see hundreds to thousands of applications, so their trained eyes are more likely to notice potential red flags when reviewing an applicant’s paperwork. Letting them manage the tenant screening process can improve your chances of landing a reliable tenant.

Acting as the point of contact for tenant concerns

If something breaks at your property, it’s not always convenient or possible to drive over to the unit to inspect it yourself (especially if it’s in another town or state). A property manager can address problems at all hours of the day and arrange for a service provider to repair or replace the item. Or, if you have a tenant who always seems to have a complaint, be it the noisy neighbors or the dog who relieves itself on the front lawn, you can breathe easy knowing that the property manager is the point of contact for those types of calls.

Decreasing tenant turnover

Good property management companies know how to keep their renters happy. They are responsive, available and take care of problems as they arise. Happy renters are less likely to look for another place to live and more willing to accept reasonable rent increases.

Ensuring rent is paid on time

Since many property management companies deduct their fees from the monthly rent, they are motivated to keep those payments flowing in. Consistent rent collection is the key to receiving rent payments on time, and a property management company will enforce lease policies if payments aren’t received. If tenants are consistently failing to pay their rent on time (or at all), the property manager will know the proper steps to deal with the situation, including issuing an eviction notice if necessary.

Reducing your rental headaches

If someone else is handling the daily management of your rental property and tenants, you’ll have fewer complications and commitments to worry about. If more time and less stress are key to your quality of life, a property management company can be a great asset.

Investing in rental real estate can contribute to your monthly cash flow and build long-term wealth — but day-to-management isn’t for everyone. If you just want a rent check and don’t want to be responsible for all of the details of your real estate investment, leaving it up to the pros can be well worth the cost.

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Contact Sterling Property Solutions today for all your Westchester property management needs!

Sterling Property Solutions

77 Tarrytown Road Suite 1E
White Plains, NY 10607

F: (914) 831-7444

Ten Top Benefits Property Managers Give Homeowners in Westchester

We found a great article from Appfolio that lists the top ten benefits a property management company offers property owners. Take a look, and let us know if we can help you with your property!

 

#1  Saving money with contractor relationships.

A management firm vets contractors and looks for the best prices and highly trained technicians who are licensed, bonded, and insured. Outside services, combined with an in-house maintenance staff and a capable supervisor to monitor routine inspections, spot issues before they turn into major problems. This means happier residents and fewer high-priced emergency repair bills.

#2  Increasing revenue with high-quality residents.

Screening residents preserves the revenue stream. Experienced managers know how to spot red flags on applications and identify those applicants most likely to pay on time and take good care of the property. Advanced technology and screening tools allow leasing agents to evaluate dozens — or hundreds — of applicants thoroughly and quickly.

#3  Avoiding legal problems, financial pitfalls and scams.

TransUnion reported that it costs landlords about $1,917 to evict a resident. The credit reporting agency recommends that property managers report rent payment history as a way to help renters improve their credit score and improve risk management for landlords.

A skilled manager understands landlord-resident laws governing resident rights, eviction processes and safety. A few other potential legal issues include:

  • Discrimination
  • Leasing disclosures
  • Rent collection and late fees
  • Notification and access for inspection
  • Licenses and permits

#4  Boosting occupancy numbers.

A veteran property manager understands the importance of short vacancy periods. Managers offer owners access to proven marketing strategies and rate comparison tools to capture the highest return on investment based on community standards.

#5  Stabilizing higher retention rates.

Keeping residents happy is perhaps the best way to improve occupancy rates. A good property manager looks for ways to enhance the customer experience. That means renters have access to resident portals that make paying rent efficient and convenient. Maintaining a safe, attractive community and building relationships are two other ways managers increase satisfaction to curtail frequent turnover.

#6  Simplifying accounting and oversight.

An experienced property manager shares information about tax deductions and investment opportunities for owners’ consideration. While most managers don’t help owners prepare tax returns —that’s a job left to CPAs and tax professionals — they provide tools like owner portals that include on-demand owners’ statements and reports to keep owners informed about the income, expenses and maintenance requests.

#7  Defining the rent capture process.

Efficient rent collection processes ensure financial success for property owners and managers. The management team assumes responsibility for establishing and enforcing strict payment guidelines. That means homeowners don’t have to spend time and money chasing down the rent every month.

#8  Enjoying the benefits of property ownership without giving up personal freedom.

Some people invest in real estate as a means of funding an active retirement. With a reputable property management team minding the fort, owners can travel extensively, spend more time with family or explore other hobbies and interests — without worrying about their property.

 

#9  Increasing property value.

Annual preventative maintenance inspections, repair or replace policies for appliances and initiating property upgrades to stay competitive protect assets and increase value. Property managers stay in constant communication with owners about steps they can take to manage property value in the market place.

#10 Reducing stress.

The nine benefits above all serve to reduce the stress of property ownership. It’s not easy to put a price tag on living a life free from the hassles of being a landlord, but most would agree that less stress is definitely a valuable benefit.

Contact Sterling Property Solutions today for all your Westchester property management needs!

Sterling Property Solutions

77 Tarrytown Road Suite 1E
White Plains, NY 10607

F: (914) 831-7444

Top 5 Reasons to Hire a Property Management Company in Westchester

A property management company is an invaluable resource for property owners or investors in Westchester who want to streamline the process of renting or selling their property. There are so many details involved in preparing and maintaining a property, as well as communicating with tenants and keeping financial and legal documents organized. All of this can become overwhelming for property owners or investors to handle alone. Below is a list of the top 5 ways a property management company can use their expertise and resources to help take the burden and hassle of renting away from owners and investors.

1. Getting the Rental or Selling Process Off the Ground

A property management company can help owners through the process of renting or selling their property, starting from square one. If you are looking to rent your property, a property management company will use proven marketing and advertising methods to spread the word and help you find tenants quickly in order to fill your space.

If you are looking to buy or sell, a property management company can jumpstart the process by giving you a Comparative Marketing Analysis (CMA) and helping to professionally stage your home in order to sell your property at the highest price the market will allow.

 

2. Regular Property Inspection & Maintenance

Property inspections and maintenance can be complicated to coordinate. It’s difficult to know how to find the best and most cost effective maintenance providers for your property. A property management firm has built-in connections to contractors and inspectors and can do the necessary legwork to make sure that your property is inspected, maintained, and cared for most efficiently.

Also – make sure to choose a property management company that maintains in-house handymen who are on call to help fix problems as they arise. This will eliminate troublesome surprises and repairs, and allows property owners to be protected against any issues that may occur.

3. Streamlined Tenant Interactions

Poring over rental applications and then collecting rent from tenants each month can be an incredibly time-consuming process. Property management companies can help here as well. Experienced, local companies are the way to go. They know the area and have tried and true methods that use checks and balances to identify red flag tenants so property owners are always protected from future inconvenience.

A property management company can also help alleviate the hassle of rent collection. Instead of individually billing each tenant, owners can rely on their property management company to handle invoicing and payments each month, and to process rents and payment transfers quickly and securely. Furthermore, Westchester’s elite management companies have the most convenient technology to make rent collection easy.

4. Expert Handling of Legal Contracts & Financial Documents

Bookkeeping and accounting for property owners can be a nightmare of paperwork and number crunching, as well as the myriad legal contracts that must be drawn up between owners and tenants. With the help of a property management company, owners and investors will have all of their legal contracts handled, as well as regular financial reports that make accounting much more simplified in the long run. For commercial property management, legal and financial know-how is also a must when choosing the right firm.

5. Saving Property Owners Time, Money, and Headaches

With all of the intricate responsibilities and jobs that come with being a property owner or investor, it can be daunting to imagine handling everything on one’s own. All of these jobs require a high level of expertise and organization, as well as time, money, and resources. Needless to say, this can cause a big headache for property owners.

It is the primary goal of a property management company to save owners time and money, and to make the renting process as smooth and enjoyable as possible for everyone involved, including owners and tenants. It is worth it to invest in a property management company considering all of the hassle they can spare you from.

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Sterling Property Solutions logo

If the idea of hiring a property management company is appealing to you as a property owner or investor in Westchester, you will be happy to learn that Sterling Property Solutions provides all of the services detailed above, and many more. Sterling Property Solutions is located in White Plains and serves all of Westchester County. Not only do we provide property management services, we are also licensed real estate professionals and can help with buying and selling your property.

 

Contact Sterling Property Solutions today for all your Westchester property management needs!

 

Sterling Property Solutions

77 Tarrytown Road Suite 1E
White Plains, NY 10607

F: (914) 831-7444