Single Unit Management
When people own property, regardless of size, they need a trusted caretaker. Frequently, they play this role themselves. If an owner isn’t up for the task, they need to hire someone else. This is even more true if the owner plans to be away frequently or for extended periods of time.
Single unit owners, usually of large apartments, have recently been inquiring whether we look after empty apartments and buildings. There seems to be a shortage of such services in NYC, despite being a commonplace service in more rural areas and for single family homes.
Here’s what to look for in a single unit manager:
- Someone who is not a house sitter. House sitters are free riders. They use your real estate and charge you for it. If you wanted someone sleeping in your bed without you, they’d better be paying you. Not vice-versa.
- A company rather than an individual. This addresses issue of liability and professionalism. Companies carry insurance, have resources such as plumbers at their disposal, and reputations to protect.
- Experience. Check references. This is not difficult yet people frequently overlook its importance. There’s no excuse for mishandling your real estate investments.
- Availability. The manager should have a 24 hour emergency line.
- Preparedness. If the manager doesn’t ask for neighbors’, super’s, and vendors’ contact info upfront then they’ll be looking for the information during an emergency. These include the oil company, building manager (if there is one), property insurance company, etc.
If you have questions, we have answers.