IPM SERVICES INCLUDE BUT ARE NOT LIMITED TO:
Market the property for rent
- Prepare Apartments / commercial stores for rent
- Clean apartments / commercial stores
- Collection credit and criminal fees are applicable
Tenant Screening and Selection
- Application review, verify eligibility information and conduct home inspections,
- Maintain a waiting list for each property
- Perform a background check to verify identity, income, credit history, rental history, etc.
- Assess tenant according to pre-defined tenant criteria
- Inform tenants upon being turned down and/or being taken into consideration
Tenant Move In
- Collect all verified documentation
- Draw up leasing agreement
- Confirm move in date with tenant
- Review lease guidelines with tenant regarding things such as; rental payment terms and required property maintenance
- Ensure all agreements have been properly executed
- Perform detailed move in inspection with tenant and have tenant sign a report confirming the condition of the property prior to move-in.
- Collect first month’s rent and security deposit
- Distribute Monthly Rent statements
- Obtain rent
- Seek out late payments
- Send out “Pay or Quit” notices
- Enforce late fees
- File relevant paperwork to initiate court proceedings for nonpayment and or holdovers.
- Represent owner / company in court
- Coordinate evictions with marshals and agencies to remove tenant and tenants possessions from unit, if necessary
- Understand and abide by the latest local, state and federal legislation that apply to renting and maintaining rental properties.
- Retain attorneys for illegal sublets, rent delinquency, termination of undesirable tenants, including breach of rules and regulations, and non-verifiable income.
- Perform periodic inspections (Inside and outside) on a predefined schedule to investigate the apartment for necessary repairs, safety hazards, code violations, lease violations, etc.
- Send owner periodic reports on the condition of the property
- Provide accounting property management services
- Make payments on behalf of owner (Mortgage, insurance, payrolls, etc.)
- Provide detailed documentation of expenses via invoices and receipts
- Maintain all historical records (paid invoices, leases, inspection reports, warranties, etc.)
- Provide annual reports structured for tax purposes as well as required tax documents including a 1099 form
- Provide easy to read monthly cash-flow statements which offer a detailed breakdown of income and itemized expenses
- Assist auditors, bookkeepers and accountants in completing all financial reports such as, financial statements, income taxes etc.
Maintenance, Repairs, and Remodeling
- Provide and oversee all maintenance crew and superintendents
- Establish a preventative maintenance policy to identify and deal with repair needs
- Provide a network of licensed, bonded and fully insured contractors who have been vetted for respectable pricing and quality work that is up to code.
- Assign tasks to various parties (in-house employees, handymen and professional contractors) based on relevant skills, knowledge, and affordability.
- Maintain outdoor area
- Leaf and snow removal
- Removal of trash and debris
- Maintain and monitor a 24 hour emergency repair hot-line
- Larger renovation or rehab projects
- Provide recommendations based on the potential to maximize rental income.
- Prepare preliminary cost estimates
- Get multiple independent bids for the job
- Act as general contractor overseeing the production
Tenant Move Out
- Inspect unit and fill out a report on the property's condition when the client moves out
- Provide tenant with a copy as well as estimated damages
- Return the balance of the security deposit to the tenant
- Retain security deposit if notice is not given within 30 days. Apply security deposit to any rental arrears, damages etc.
- Clean unit and perform any needed repairs or upgrades
- Re-key the locks
IPM conducts annual apartment inspections, and maintains common areas and exterior grounds. IPM has put trust in on-site security guards to patrol the grounds during the evening, nights, and early mornings (24 hours a day, seven days a week) if necessary.
IPM incorporates educational programs in their developments, such as English as a second language, after school tutoring, and computer courses. IPM also incorporates children’s activities, for instance, in the Bronx, sports leagues are established for baseball and basketball where permissible.