At XL Real Property Management, we take the stress out of owning investment properties in New York City. Our services are designed so that your role as the owner is only to sit back and relax. We’ll take care of all the rest:
Reviewing All Expenses for Accuracy; Tracking and Recording Expenses
Every invoice we receive is carefully reviewed and analyzed prior to payment. Each invoice is thoroughly checked to confirm there have been no errors in accounting, billing or overage charges.
Have the Protection You Need, When the Need Arises
Given the complexity of insurance, having proper coverage makes all the difference when your asset experiences a loss. In order to ensure the insurance company will pay a claim, it is critical that you have adequate coverage with a credible carrier. Allow the XL team to help find you the right insurance policy at a competitive rate. Our team will obtain quotes and help guide you through every step of the process.
Repair and Maintenance Issues/Staff Oversight
When Maintenance or Repair is Required, We Ensure the Job is Done Quickly, Correctly and Cost Efficiently
By providing quick responses to all issues, we help keep small problems from getting bigger. Assistance is provided with maintenance of items like HVAC systems, sprinkler systems, irrigation systems, and more. We can help you find the best price possible and guarantee each job is of the highest quality and performed by insured, reliable companies. XL will also oversee cleaning staff to ensure the property is well-maintained.
Emergency Repair Assistance
Around the Clock, We are Here to Protect Your Interests When Emergency Strikes
Our team of experts is available 24 hours a day, 7 days a week to handle any apartment or building emergency. Each tenant is given our direct emergency phone number, so immediate contact can be made should the need arise. Our emergency response prevents a small issue from becoming a catastrophic repair. Our crisis management team knows who to call in emergencies and our on-site presence ensures you do not get taken advantage of in difficult times.
Capital Improvement Oversight
Is it Time for an Update? We’ll Oversee any Size Renovation to Bolster Rental Income
In a tight real estate market like NYC, delivering the appropriate product to tenants is key to maximizing the return of your real estate investment. We oversee any project, no matter how big or small, to bring the apartment to market expectation. By maintaining strong relationships with contractors, we can save you a tremendous amount of money. We only use quality vendors who we closely supervise to ensure the job is done right and on budget. Since it is nearly impossible to manage a construction project from outside the local area, our project management team meticulously oversees the renovation process to make sure your money is not being wasted on unnecessary items. With an extensive background in renovations, we can help determine the best places to spend money to ensure every dollar is being used efficiently.
Monthly and Annual Accounting Statement Preparation
Detailed Income and Expense Statements Provided On Time, Every Month; Tax Preparation is Easy with Our Year-End Statement
Tracking the financial activity of your asset is made easy with our monthly and annual accounting statements. By the 15th of every month, you will receive our monthly owner’s statement which details the income and expense activity of your asset. All receipts are attached for ultimate transparency and tracking purposes. Easily track your monthly statements on our website and access financial reports that can be shared with investors. This makes annual required tax filings simpler and cheaper, as the financial reporting is done for you.
If a Legal Issue Arises, Our Experts Will Ensure its Handled Properly
We stay up to date all changes with NYC housing laws so we help you stay compliant with all regulations. “In house” legal counsel is available to assist you on any legal advice needed at a discounted price. In the event that a representative from the owner is needed in court, we can attend on your behalf and provide updates of all events.
Routine Property Inspections
Keeping Tabs on Your Property, so You Don’t Have to Worry About the Unknown
When your apartment or townhome is not occupied, our team makes routine inspections to ensure everything is in good condition. We help maintain the safety and security of your asset and will make sure there are no leaks or other such issues. In the event that a deficiency is found, we take photographs and report it to you, so you can always be in the know of the condition of your apartment.
Mortgage Escrow Reviews
Are Your Escrows Being Properly Calculated? Avoid Bank Overcharges
If you have mortgage escrows with a bank, we can review them for completeness and accuracy. On occasion, banks miscalculate funds need for insurance or property tax escrows, so we ensure the bank refunds any excess funds not required.
Boiler, Elevator and Life Safety Equipment Inspection and Monitoring
Ensure Your Home Equipment Meets City Safety Requirements
To keep your home safe and secure, avoid unnecessary fines and violations, and pro-long the lifespan of your building’s equipment, XL will coordinate and facilitate equipment inspections as recommended or required by law.
Regulatory Filings and Compliance
We’ll Take Care of the Paperwork
From DHCR filings to HPD registrations, we will assist with all paperwork required by the city of New York for the operation of your property. Although property filings can be daunting, we have streamlined the process so you can easily stay in compliance with NYC guidelines. Simple mistakes can result in costly fixes, so allow us to take care of this paperwork for you.