Welcome to Selah Management, a world-class property management firm for your precious investments
Hate providing customer service? We treat your tenants as customers and we help you retain good tenants. Many investors want to simply see money come in without dealing with the hassles of managing their tenants. We can help you join them and simply enjoy your money and go after other things in life.
What we do
We handle all phases of property management including finding tenants, maintenance, staging and clean up prior to re-leasing in the NYC area. You can be thousands of miles away and you can rest assured that your property and your tenants will be in good hands. Find out more here.
Who we are
We are your expert property managers. We can relieve you of your administrative duties so that you can truly have a passive investment. Read more about who we are here.
Why Real Estate
Owning real estate opens up many opportunities to earn money year after year, even while sleeping. Beyond possibilities of steady cash flow (rent minus debt service and operating expenses), tax benefits, a high possibility of appreciation, and equity build up over time. While you wait for your money to accumulate, you need to handle one thing, property management.
Property management is simple when you have a good tenant who pays on time and keeps your property clean and well maintained. The problem occurs when something goes wrong. When it does, it ruins your day-to-day life and destroys the positive feelings you associated with your passive income machine.
A friend of mine had purchased a property at his last job that was about five hours driving distance away. Initially, his tenant paid the rent on time, making it easy to enjoy rental property ownership. Then some plumbing began to be an issue. The tenants would not help with the coordination. He had to drive up there and remain several days to call the professionals and sort out the issues. He had to miss several days of work without much notice to his employer and had to toil away from his family to handle the problem.
Reasons why you may want to consider a professional property manager
Many investment property owners think they save money by fixing their properties independently, but they often miss these three things that hurt them from achieving their goals.
Real estate is to be an investment, nothing more, nothing less. The time you take away to work on the property reduces your earnings. You are taking your mind off your other goals to run off to handle the problems that suddenly emerged. You are spending time away from family, friends, and possibly money-earning business meetings to deal with the problems, not just physically but mentally as well. Real estate is no longer your passive income where you enjoy the growing money in the bank, but something you actively must work on to keep it going.
It may damage your professionalism at work. If you're a higher-income, full-time professional, which many property owners are, rushing off to urgent crises during workdays at your rental is impractical, and it can hurt your career. Employers will not appreciate your need to take leave for unpredictable and unscheduled demands. It may also give you internal conflicts about your professionalism.
You may be losing more money than you think. We encourage you to look at your annual income and determine your hourly rate. Then, calculate how much you are saving by managing your property on your own. More than likely, especially if you are a high-earner as many property owners are, you are probably not saving much, if at all (this is excluding your mental expenditures). You should spend your PTO with your family and loved ones, not isolated and working more. An alternative may be to spend that time to make more deals and buy more investments to generate even a greater cash flow.
Other reasons why you may want to consider professional property management
- They have the expertise and experience to manage rental properties and can probably handle it more effectively than you can. Their superior knowledge and experience can result in lower costs, higher rent, better residents, and a well-maintained property.
- They know the current laws affecting rental housing. Their involvement may protect you in the long run. Consider it insurance for your legal protection against something you may not have known.
- They're able to remain fair, firm, and friendly with tenants. As the owner, you may not be able to do the same.
- They have screening procedures and can typically screen tenants more objectively than you can yourself. Remember, good tenants are key to enjoying your passive income.
- They handle property management issues throughout the day and have staffing for after-hour emergencies. You don't need to get those phone calls at 3 am or during your most important work meetings to handle 'crises.'
- They have contacts and preferential pricing with many qualified, licensed, and insured suppliers and vendors who can quickly and efficiently get work done. That was easy.
- They handle all bookkeeping, including rent collection. It will save you aggravation when filing taxes.
- They have well-established rent collection policies and procedures to follow when tenants' rental payments are late. You may not be as methodical, allowing your bad tenants to settle.
- They have an online presence and a real estate brokerage where they can attract tenants better than you may be able.
If you are a real estate agent - we want to help you to accomplish your goals
90% of sales agents and brokers do not want to handle rentals. Send us your customers and we will provide you a generous referral fee when your customers sign on with us. Here are the fees we would provide:
- Owner Referral for Property Management: $200 or 25% of our Tenant Placement Commission, whichever is greater
- Owner Referral for Tenant Placement Only: $100 or 10% of our Tenant Placement Commission, whichever is greater
- Renter Referral: $50
Referral Fees will mailed no later than 25 days after the beginning of the lease to the Broker.