Two Tips for Managing Tenant Relationships

Tenant Relationships pic
Tenant Relationships
Image: blog.buildingengines.com

A property management company that includes customer service among its priorities, Urban American Management oversees several apartment units in the New York City metropolitan area. Offering affordable housing to residents all over the state, Urban American Management provides a rapid response to tenant feedback to ensure its relationships with its tenants remain strong. Here are some tips for managing tenant relationships.

1. The documentation provided to tenants should concisely outline the full responsibilities of the property management company clearly, ensuring there can be no confusion about the issues for which the company is responsible. For example, you should clearly state the notice time you will offer to tenants before property inspections.

2. Tenant inquiries should be responded to promptly. A survey conducted by Knight Frank, a UK-based real estate consultancy, found that 50 percent of respondents believe that communication from a property manager within 24 hours of an inquiry is among his or her most important qualities.

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The Holiday Season Is the Best Time to Buy a Home

Urban American Management pic
Urban American Management
Image: urbanamerican.net

Property management company Urban American Management owns nearly 100 properties in New York City. Urban American Management is responsible for providing its clients with housing that includes a great community and a safe environment.

According to Realty Times, holiday seasons are the ideal time to purchase a home, since there are fewer buyers at the end and beginning of the year. With less activity, people are more inclined to close deals with their brokers and real estate firms.

Apart from that, interest rates often go up in the first month of each year. By purchasing or starting a mortgage on a home before the year ends, possible buyers can lock down the current interest rate before the new year starts.

Lastly, and most importantly, homeowners save more money in the long run than those who rent. Tax benefits are more partial to homeowners, and they accumulate over time, saving homeowners thousands of dollars over time.

Urban American Management Uses Cogeneration to Reduce Energy Costs

 

cogeneration system
cogeneration system

Formed in 1997, Urban American Management is a family-owned property management company that purchases buildings to rehabilitate and apply energy saving measures as avenues of providing affordable housing to residents. The company believes that both residents and property owners have long-term investment stakes in the welfare of the property and surrounding neighborhood.

Urban American Management has purchased five buildings in Harlem, through which the company seeks to reduce the carbon footprint and provide a more energy-efficient homes for the renters. The energy use of the buildings had been excessive due to broken windows and heating leaks. Planned upgrades include replacement of 6,000 windows and installation of a mini power plant called a cogeneration system. The estimated cost of the renovations is $11 million, but the estimated savings in energy costs could be as much as $4 million annually. This will benefit both the residents and the management company.

Costing approximately $5 million, the cogeneration system will combine the heat and power functions that are currently being served by a boiler, a power grid, and a natural gas line. Cogeneration harnesses waste heat and uses it for the water heater and to power the cooling system. Cogeneration reduces the carbon emissions of buildings by as much as 50 percent.

Urban American Management – Meeting the Need for Affordable Housing