FAQ

Tenant Questions


  • Where should I send my monthly rent payment?

    All monthly rent payments can be made online at www.xl-rpm.com or can be mailed to the following address:

    XL Real Property Magement

    555 Madison Avenue, 5th Floor

    New York, NY 10022.

  • What paperwork is required to rent an apartment through XL Real Property Management?

    Please find our rental application and paperwork requirement schedule under the “Residents” tab.
    We require all applicants to show proof of monthly income of 40x 1 month’s rent and show good credit and a clean housing court record.
    Guarantors may be accepted on a case-by-case basis.

  • May I make changes to my apartment?

    If you would like to make changes to your apartment, you must first obtain written consent from us.
    If you paint your apartment, you will be asked to restore the color to its original state.

  • Do XL Managed Properties Accept Pets?

    Pets are accepted on a case-by-case basis. Depending on the circumstances, an additional security may be requested.

  • What utilities am I responsible for as a tenant?

    Typically, heat and hot water are included in the monthly rent. You will be responsible for setting up your own electricity, cable, internet, and cooking gas.

  • I am being relocated for work and need to sublet my apartment. What is the policy regarding sublets?

    If you need to temporarily sublet your apartment, please call or e-mail us to discuss your options. Due to NYC restrictions, we cannot permit sublets less than 30 days.

  • Do you offer furnished apartments?

    Yes, some of our apartments are furnished. If you would us to furnish an empty apartment, we can gladly do so for an additional fee.

  • My dishwasher is leaking. Who do I call?

    If you require any maintenance to your apartment, please do not hesitate to contact us.
    If an emergency, such as a major leak arises, please try contacting your super first, and then contact us.

  • What if I find damage to my unit after I move-in?

    If you discover any damage to your apartment after you move-in, kindly notify us within 48 hours, so it can be documented.

  • What form of payment is preferred?

    We kindly request that your monthly rent payment is made via check. You can also set up automatic bill-pay through your bank at no charge.

  • What notification should be provided if I decide to renew my lease?

    If you do intend on renewing your lease, as much notice as you can provide would be greatly appreciated, but we ask that at least 60 days notice is provided.

  • What is the purpose of obtaining renter's insurance?

    While your landlord always carries insurance protecting the apartment itself, the landlord’s policy does not cover your personal property. You must obtain your own policy to protect against loss.

 

Owner Questions


  • I own an apartment, but I use it as a pied-a-terre and not as a rental apartment. Could I benefit from the services of XL Real Property Management?

    Yes. Even if you are not using the apartment as a rental property, you can still benefit from our services. When you are not living in the residence full-time, maintenance and repair issues can arise and expense payments are still required. When you are not using the property, we routinely check the apartment to ensure no issues, such as leaks or electrical issues, have arisen to ensure there are no surprises awaiting your arrival and to mitigate any additional damage that may occur from an incident.

  • What is the difference between XL Real Property Management and the management company that manages my building?

    Your building’s management company will handle the affairs of the overall building, however,they do not deal with the needs of your individual apartment. You, as the unit owner, are responsible for tenant sourcing,expense payment and all issues that arise within your apartment (even in cases of fires, floods, or other incidents that may have affected,but did not initiate in your apartment).XL Real Property Management takes over all of these responsibilities for you.

  • What experience do you have in the management of residential real estate?

    Prior to the formation of XL Real Property Management, our principals’ experience has included the construction, sales, marketing, asset management and financing of over $1 billion worth of real estate in New York City and throughout the United States. This experience makes us deeply knowledgeable in all aspects of the operation, acquisition and development of real property.

  • Who can benefit from the services of XL Real Property Management?

    Our services are designed to aid foreign and local investors that own residential real estate properties, but do not have the time to oversee the daily operation of their investment. Anyone who wants to take advantage of the numerous benefits of real estate ownership, but is not in the position to oversee the day-to-day affairs can benefit from our services.

  • I own investment properties outside of New York City. Can your company help me as well?

    Yes. XL Real Property Management can manage apartments anywhere in the United States and around the globe. We have developed strategic partnerships throughout the world to ensure we can serve a one-stop-shop for all of your real estate investment management needs.

  • Do you guarantee monthly rent payments?

    While we strive to ensure that all our properties are occupied with no down time, we cannot guarantee monthly rent payments. However, due to the current vacancy rate in Manhattan being under 1%, if the apartment is priced correctly, it should rent fairly quickly.

  • What are the typical expenses you pay behalf of the owner?

    Typically, we pay common charges, real estate taxes, mortgage payments, maintenance bills, insurance and special assessments. However, if additional items are requested, we would be happy to pay those as well.

  • Do you seek approval of expenses paid by XL on my behalf?

    Yes, unless we are spending under $25, we will seek approval to pay all expenses that are not pre-approved by you.

  • How do I ensure my apartment is being rented to a qualified tenant?

    Our team of management professionals will conduct a thorough search into the credit and housing court history of each tenant. Also, financial information such as recent tax returns and bank statements are requested to ensure each tenant is well-qualified.
    Unless you request otherwise, we will provide you with a report of all potential tenants, so that you will have the ability to provide final approval.

  • Do you hold the required licensing to manage real estate in New York?

    Yes, we do hold a license as mandated by the New York State Department of State.

  • I would like to speak with some of your current clients. Can you provide references?

    Yes, we would be happy to provide references upon request. Chances are, we can probably provide information for a current client in your home country.