Do you own a commercial property in Long Island or New York City? Are you looking for a professional property management company to help you manage your commercial property? If so, look no further than Essential Property Management.
Essential Property Management has been helping investors manage their properties for 25 years now. During this time, we have helped countless investors realize their investment goals.
We are a full-service property management company. This means that we can help you in all property management aspects. From property marketing to tenant screening to rent collection to property maintenance.
The goal of Essential Property Management is to maximize your profits while minimizing your expenses. We have helped many other commercial property owners; we can do it for you as well.
We are associated with several professional organizations, including NARPM (National Association of Realtors and Property Managers), NAR (National Association of Realtors), and Equal Housing Opportunity.
If you have a commercial property in Long Island or the 5 boroughs of New York City, please contact us. You can reach us either by calling us at (516) 868-5224.
Why Hire Us
Managing a property is not easy. Without the experience and knowledge, there are a lot of things that can go wrong. You may struggle to fill your vacant units, find suitable tenants, and collect rent.
Luckily, Essential Property Management can help. We have been in the business for 25 years and understand what works and what doesn’t.
Our property management services are designed to relieve the stress, frustrations, and interruptions that come with self-managing a property. What’s more, we can tailor them to meet your specific needs as a client.
The following are some of the services we can help you with.
1. Rental Marketing
Every day your rental stays vacant, you’re losing money. You are not only losing out on the monthly rent, but you’ll also have to look elsewhere for funds to pay your property expenses such as property taxes.
At Essential Property Management, we understand this. That’s why when you hire us, we’ll work hard to find you a tenant as quickly as possible.
We use a variety of marketing tactics including For Rent Signs, social medial marketing, rental listing sites, and PPC advertising. Due to these and other efforts, we are able to rent clients’ properties out in a matter of a few weeks.
2. Financial Reporting
We understand how valuable your commercial property is to you. When you hire us, we’ll keep you up-to-date on how it’s performing financially on a regular basis.
We’ll provide you reports like monthly statements, vacant units report, complete work orders, account ledger report, as well as income and expense statements.
3. Tenant Screening
Renting to problem tenants is anything but pleasant. Problem tenants won’t pay rent on time, will fail to report maintenance issues, will disturb the peace of other tenants, and will generally cause more problems for you.
With 25 years of experience under our belt, we know how to avoid this caliber of tenants. We screen each prospective tenant that expresses interest in any of the commercial properties we manage. Our screening process is thorough and fair to all applicants.
In our screening process, we check that prospective tenants can prove they are able to pay rent each month. We require that tenants make at least 3x the price of rent. For example, if the price of rent is $2,000 then we require tenants to make at least $6,000 per month.
We also check the creditworthiness of each prospective tenant. While a prospective tenant may have sufficient income, only a credit check can reveal the true financial picture. For example, we check if they have debt and whether that debt can hinder their ability to afford rent.
We also check each prospective tenant’s background for their employment, criminal, and rental history. It’s only after a tenant has passed our screening test that we will allow them to sign the lease. Renting to this caliber of tenants helps us avoid issues with them at a later date.
4. Rent Collection
Rent collection can be stressful, frustrating, and tiring to deal with late or missed rent payments each month. At Essential Property Management, we have the experience to ensure you get paid on time, every time.
When you hire us, the first thing we’ll check is your lease agreement. We’ll scrutinize it to ensure that it doesn’t leave anything out. Tenants can get confused when the lease or rental agreement doesn’t mention key terms or isn’t entirely clear.
Such terms include the amount of rent, when and where it’s due, acceptable payment methods, the amount of grace period, and late fees if any. We also ensure that tenants have convenient rent payment options to further minimize rent-related issues.
5. Property Repairs & Maintenance
Essential Property Management can also help in the maintenance and repair of your commercial property. It’s particularly essential that your commercial property looks aesthetically pleasing at all times to ensure it’s attracting tenants.
We have a team of contractors and vendors that can help in this regard. These are people that we work with for their high level of professionalism and reliability.
About Essential Property Management
With over a quarter of a century in the industry, Essential Property Management is the right partner for you. Our team is professional, knowledgeable, detail-oriented, responsive, and efficient.
We are experts at turning around underperforming properties and maximizing our client’s cash flow. We strive to maintain the highest level of accountability and interactions with all of our clients, whether they are individual owners, company or not-for-profit organization directors, or condominium boards.
Give us a call and let us do the hard work of property management for you. You can reach us by calling us at (516)868-5224.