What We Do
Selah Management enables property owners to enjoy truly passive income by managing their tenants and properties on their behalf.
Which Areas Do You Handle?
We manage your properties and tenants in the NYC area. This includes the five boroughs, Long Island, NY, Northern NJ/Bergen County. We prefer commerical building and apartment complexes, but we can take on your 1-4 family single/multifamily units too.
Why Work with a Property Management Company
You may know many real estate agents who can rent out your property. However, many of them do not focus on leases as much as you think. Perhaps 90% of real estate agents seek those bigger payoffs that come with a real estate sale transaction. Leases are often too small of a profit for many of them that they will not work hard to get you a suitable tenant for your property. They may send you anyone who can make the security deposit to call their job done. You may not have long-lasting tenants, and those tenants would be your problem to handle.
Property management companies focus on rental properties like yours. Our responsibility is to get the best tenants for you because we know you may even give us your property and tenants to manage for you over the long run.
People and Real Estate Management
Some rental property owners find themselves managing their properties without even knowing what management requires. Managing the physical aspects of your rental properties (the buildings and money) and keeping track of your income and expenses are relatively straightforward. However, many rental property owners’ most challenging portion is the management of people.
Rental management requires you to deal with many more people than you may think. In addition to your tenants, you interact with rental prospects, contractors, suppliers, neighbors, and government employees. People, not the property, create most rental management problems. An unpredictable slant always exists in any relationship with people.
Many landlord-tenant relationships are strained, but they don't have to be that way. A rental property owner who knows how to manage his rental property properly and responds promptly to his tenants' legitimate concerns will be rewarded with good people who stick around. The key is properly maintaining your rental property and continually investing in upgrades and improvements when needed. By doing this, you can successfully meet your long-term financial goals and realize that being a landlord is an excellent secondary, or even primary, source of income.
The Problems You May Face
Extended Hours: Because you’re dealing with housing, you can’t guarantee when you’re going to be needed. It may be 3 pm during your work hours or 3 am. while you and your family are tucked away in bed. Like me, you can expect to be constantly on-call, even when you’re on vacation, to deal with issues that only the rental owner or property manager can decide. Fortunately, you can minimize these inconveniences by planning carefully and hiring competent and reliable employees and vendors who can prevent unexpected emergencies through good management and maintenance. However, owning and managing rental property remains a 24/7, year-round commitment. You may need to be available on evenings and weekends when most prospective tenants may want to see vacant rental units, and tenants allow access for repairs.
Difficult Tenants: Despite the great people you meet, property management has its fill of difficult and challenging personalities, including people who’re downright mean and unpleasant. As a rental property owner and manager, you have to be prepared for adversarial and confrontational relationships with others. Collecting the rent from a delinquent tenant, listening to questionable excuses, or demanding a contractor come back and do the job properly requires patience, persistence, and a fair but firm approach.
Vacancy: One of the first and most important lessons I learned when I began to invest in and manage real estate more than 20 years ago is that vacant real estate is not a very good investment. You need to fill those vacancies and keep them filled with tenants who pay on time to fulfill your purposes as an investor. To get great tenants, you need to make sure your rental property compares favorably to other properties in your area and makes that critical positive first impression.
Unfortunately, bad management can bring down a rental property investment. For example, if you choose the wrong tenant or fail to address specific maintenance issues, your real estate investment may become a costly nightmare. You may find the property quickly turning into a money pit. No matter where you may be in your property management journey, remmember one thing is constant: The key to your success is management. We can handle that for you with our more than 30 years of experience in building successful investments for ourselves and others. We will take care of your property as if they were our own investments.
What we do
Allow you to get sleep by handling difficult tenants and taking care of your responsibilities of being a 24/7, year-round property maintainer. We let you be a passive-income generating owner, that is, simply collect and enjoy profits in your bank account. That said, below is a list of the work we do for you:
- Enforcement of the property’s rules and regulations
- Performance of rental market surveys, rental cost setting, and maintaining the rental rate
- Marketing to attract good qualified tenants
- Preparation and showing of the rental unit
- Preparation of regular accounting reports
- Handling security deposits
- Handling contractual agreements
- Property inspections
- Rent collections
- Handling trouble tenants who do not pay
- Repair and maintenance of the rental unit
- Response to tenant complaints
- Tenant screening and selection
- Provide a designated representative for each property
- And more...