Marketing & Tenant Selection

In order to attract tenants quickly, we advertise properties in a variety of ways. We incorporate the use of signage, print advertising, web advertising, and social media. Each property we manage is unique and therefore will be marketed with a unique strategy to target local residents to the property in a way that other media cannot. Signage is installed immediately after the current tenant declares his or her intentions to vacate. Available properties will be listed on line in a variety of ways. They will be listed on the Multiple Listing Service (MLS), in view of thousands of brokers daily, as well as on our website, www.lballstar.com, that attracts thousands of unique visitors every single day.

As potential tenants contact us regarding vacancies, they are asked to submit a detailed application. A credit check is then run on the prospective tenant and their references are checked and verified. A face to face meeting is the final requirement before a lease is offered to a prospective tenant.

Lease Management & Rent Collection

Lease management requires accurate and organized records to ensure all lease issues are properly documented. Lease files are established and relating correspondence is filed appropriately. The Property Administrator will maintain a register of commencement and will periodically inquire about the tenants intentions. Lease renewals will be handled by the same Property Administrator. Lease renewal is always encouraged for appropriate tenants.
Rent is due by the 1st of the month. If rent is not received by the 5th day of the month a 5 day notice is submitted to the tenant. If the rent is not received at day 30, eviction procedures begin. We keep a detailed rent toll for each managed property that is updated as soon as rent is received. Monthly statements sent with the rental payments to the owner. All required tax statements, 1099’s etc. sent by 1/31 after end of calendar year.

Insurance

It is imperative that we adequately insure each property that we manage. We will obtain professional advice from our insurance brokers, ensuring a full understanding of the contractual aspects of the insurance policy. We are committed to protecting the property owner’s from liability and other unforeseen events. Liability insurance is also secured in order to protect our management staff during their frequent site visits as well as our Property Administrators.

Utilities

When property is rented, utilities are managed by the Property Administrator. We open accounts with each service provider and manage them from set up to payment. Common area electric, water, and sometimes gas powered heating are often our responsibility but it can differ based on the property.

Inspections

Throughout the duration of each tenancy in your property, the Property Administrator will conduct regular internal and external inspections. These inspections will ensure that tenants are maintaining the property, as will as detect any maintenance issues that may arise. Properties are inspected upon move out and any repairs needed are completed promptly. Housekeeping issues are addressed as well. Good housekeeping ensures the property value is maintained and enhanced and the tenant turnover process will go smoothly and quickly.

Repairs & Maintenance

Property maintenance is conducted by our Property Administrator. They are responsible for the cleanliness of the common areas and outdoor areas. The grass will always remain cut and attractive and snow will be shoveled from walkways and driveways. If the property does happen to require additional maintenance, we arrange for such maintenance to be undertaken in a professional manner. Repairs are closely monitored for quality and cost efficiency and the work is carried out in a way that causes as little inconvenience to your tenants as possible.

Accounting & Banking

Accounting and financial management for each property is handled in-house. We manage each property’s finances through Intuit QuickBooks to ensure accurate and consistent representation. We also maintain complete, hard copy, records of all transactions entered into QuickBooks. Tenant security deposits are deposited into a savings account to accrue interest throughout the year. Rent checks are deposited into property specific bank accounts after they are received.

Legal

When legal matters arise there is an immediate need for quality counseling. Because we have long term relationships with various specialists we can call on the right person, based on the specific circumstances. This saves time and money and creates efficiencies and cost savings for our property owners. Issues sometimes arise and our ability to tackle them immediately and with the right person allows them to be resolved in the shortest time possible.