Managing property can be a daunting task, especially if you don’t live in the area. Whether you live down the street or across the country, you can take comfort in a true professional to protect and manage your investment and income property with the diligence it deserves. Athari and Associates can provide this service by exclusive contract.
Mr. Athari can handle management issues and advise you about New York State’s many detailed laws for residential and commercial leases. As a Multiple Listing Service (MLS) Real Estate Broker and an attorney admitted to practice law in the State of New York, Mr. Athari is licensed to advise and handle all aspects of property management from listing and showing to contracts and evictions. From showing the property, advertising the property, writing the lease, collection of rents, making referrals for repair and maintenance issues, vacating and re-leasing, and providing bookkeeping for your accountant, we can make it simple for you to invest in property in the Central New York area.
Beginning in 2019, New York State changed many laws relating to residential rentals. There are now limits to security deposits, pre- move-in damage report requirements, as well as five-, fourteen-, thirty-, sixty- and ninety-day notices for various actions to be taken by the landlord. There are additional requirements of providing receipts for rent payments, how to handle holdover tenancies, and notices for ending leases. These notices, inspections, and paper trails are now required by law. We can provide these services as well as application processing and background checks. By avoiding potentially bad tenants, you can save thousands of dollars in losses. Should you need legal services, we have expertise in navigating the part-time court system of local villages, towns, and small localities in the Central New York area when legal actions and evictions are necessary.
On the repair and maintenance side, there are also many issues that can create significant legal problems for property owners in New York State. Property owners should ensure that hired contractors have proper workers compensation and disability insurance, which helps avoid lawsuits in case of personal injury, and there are several different types of liability policies for contractors, and although a contractor may boast that they have a large policy of coverage, the policy may not cover essential parts of the worksite or certain sub-contractors. From roof repair to tree service, or from HVAC to electrical, there may be inspection, insulation, licensing and registration requirements that must be considered. Finally, some levels of work shall require workable surveys, the hiring of a competent and skilled engineer, obtaining a building permit involving the codes department, a site plan review requiring board approval, or even zoning review and variances. We are able to handle all aspects of major repair construction.
Finally, the regular maintenance of your property will require the ability to respond to emergencies twenty-four hours a day, heating, and cooling (HVAC) repairs, hot water tank failures, water leaks, sewer blockages, electrical issues, mowing and plowing services, or a host of other smaller issues like doors that expand and contract, smoke/carbon detector repair and replacement, or burnt-out LED lights. There will be the need to repair walls and paint, fix windows and doors, change locks, clean units thoroughly between tenants, make repairs from pet damage, or odor removal. We have trusted independent contractors and cleaners that can perform these types of services at reasonable costs.
Protecting you and your investment and ensuring that you continue to make a profit on your investment is our top priority. We provide service for the following:
► Insurance review;
► Walk through for legal and safety issues;
► Listing, showing, applications, leases, and collection of rent;
► Recommendations for hiring to do repair and maintenance; and
► Notices, Evictions, and court appearances.
Depending on the level of involvement and service you choose, we charge 10-25% of the gross rental. For legal services, we can provide a simple fee cost. For example, a simple eviction cost is around $2,000 exclusive of any court costs, service of process, or other expenses. Additional services are charged at $300 an hour at 15 minute increments.