August 2022 Newsletter
System - Monday, August 1, 2022
Rent Assistance: UWCM STEP Program
We are currently helping cooperative & eligible tenants with the STEP Program to assist with back rent payments & water bill assistance. Stay tuned for updates from the program!
Less Vacancy Days = More Revenue
Did you know that as soon as we get notification from a tenant that they are not renewing, or if the tenant moves out for any other reason and you decide to relist the property, we start advertising it for rent as Coming Soon, achieving shorter vacancy cycles and increasing your profit?
If a tenant's balance reaches > 2 months, we automatically send out a Notice of Non-Renewal of Lease, motivating them to either pay the balance in order to renew their lease or move out of the property for us to rent it to a better-paying tenant.
New Tenant Screening Criteria
We are now offering short-term lease options for applicants under 700 credit score. Here is what we are recommending: 628-699- Encourage 12 mths lease only | 550-628 - Encourage 6 mths lease only with an opportunity to renew yearly with great rental history.
Official Water Bill Statement Not Received- Final Reminder
We have sent several requests to you from our office to properly receive the water bill copy directly using the methods outlined in this notice. Unfortunately, we can no longer process the water bills on your behalf without this information. We ask that you please complete this request as soon as possible to avoid delays.
Here are the convenient ways to process water bills.
What is an Owner Maintenance Program?
All incoming work orders will be sent to the owners first. Please note this means the owner/s have 36 hours to respond to non-emergency tickets. This method also means that the free annual inspection that comes with our standard services will no longer be included. You will be set up with Latchel - our dispatching company and through Latchel, any work orders will be brought up to your attention via SMS and/or email first before reaching our team for processing.
Read more here.
Did you know? Non-Emergency work orders for those with balances over $1500
For the past few months, we have implemented a strategy to motivate tenants to pay their balance. currently, non-emergency tickets will not be addressed if their account has a balance of over $1500 and on an approved payment plan. TRUE emergencies MUST be handled in order to prevent liability. They are reminded to settle their outstanding balance with our office in order for maintenance services. The tickets are placed in deferred status.
Owner Benefit Package
Minimize Your Exposure... and Headaches:
When a tenant defaults on the rent, it can take months to regain your property and get another tenant in place. Meanwhile, you're continuing to make mortgage payments and incurring additional expenses on the property, all the while losing rental income. Enter the Owner Benefit Package.
Check Out Our Latest Blog!
Are you a Real Estate Investor or maybe an Enthusiast looking for information from credible thought leaders to make better decisions, get better returns, and reduce risk? Introducing a Special Podcast where a Professional Real Estate Investor Coach (Nat) and Bad Ass Property Manager (Neek) collab on their journey in playing Monopoly in Real Life!
Removing the Red Tape Episode 1