APARTMENT Management
Yangtze Hudson Apartment Management focuses on serving the needs of absentee owners who hold investment condo apartments in New York City. With a particular focus on luxury apartments, Yangtze Hudson is here to provide you with the meticulous management services required of high-end properties. Yangtze Hudson has streamlined the way investment apartments are managed, thereby ensuring your rental income is maximized, while keeping operating expenses to a minimum.
Our apartment management services include:
Rental Services
Whether you own your apartment as a part of your investment strategy or simply looking to keep your apartment occupied during a certain period, Yangtze Hudson can guide you through the process of finding a suitable tenant and negotiate on your behalf to achieve the maximum market rate for your property.
Rent Invoicing
At least one week prior to the end of the month, tenants receive their monthly rental invoice. The monthly rent invoice will include a detailed breakdown of any rent and applicable lease or utility charges.
Expense Payment
Every invoice we receive is carefully reviewed and analyzed prior to payment. Each invoice is thoroughly checked for accuracy to confirm there have been no errors in accounting, billing or overage charges.
PROPERTY InsurancE
Given the complexity of insurance, having proper coverage means 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 Yangtze Hudson apartment management team to help find you such an insurance policy at a competitive rate. Our team will obtain quotes for you and help guide you through every step of the process.
Tenant Requests
With our vast experience in handling tenant requests, we know exactly what residents expect. Through our custom request tracking system, our clients save time and money, while we maintain satisfied tenants. Same day response is provided to confirm all requests are received and our apartment management team can be conveniently contacted 24 hours a day 7 days a week via phone, email or through our website.
Repair and Maintenance Issues
By providing quick responses to all issues, we help keep small problems from getting bigger. Assistance is also provided with maintenance of items like HVAC systems, sprinkler systems, and more. We can help you find the best price possible and make sure each job is of the highest quality and performed by insured, reliable companies.
Lease and Lease Renewal Preparation
We provide proper lease documentation to ensure you have the paperwork protection you need by tailoring each document to the specific requirements of the apartment or building. We prepare lease renewals to properly document tenant extensions. We are kept well informed of any changes in laws to make certain you are up-to-date on current regulations.
Board Application for New Tenants/ Renewals
We carefully track board packages to ensure timely preparation and processing. We offer assistance to apartment/building owners with completion of the board package, and the preparation of any checks/deposits needed. If you require renewal lease approval, we will work with you to ensure completion, while assisting building management with any questions or clarifications required.
Apartment TURNOVER Services
Pre move-out inspections are conducted at least 2 weeks in advance of the expiration of the lease. Once the tenant has vacated the premises, our team checks again for any damages or missing items. We obtain estimates for repairs and replacements, while facilitating any necessary deduction from the tenants’ security deposit. We also oversee the completion of apartment turnover work such as: Painting, floor refinishing, basic maintenance and other repairs or sprucing up required. We work hard to save money wherever possible and to keep expense as low as possible.
Emergency Repair Assistance
Our apartment management 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 has expertise in knowing who to call in emergencies and our on-site presence ensures you do not get taken advantage of in times of crisis.
Renovation PROJECT Oversight
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 up to market expectation. By maintaining strong relationships with contractors, we can save you tremendous amount of money. We only use quality vendors, who we closely supervise in order 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 being used efficiently.
Monthly and Annual Accounting Statement Preparation
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.
Tax Filing Preparation
Due to the large volume of work we do with our specialist vendors, we are able to offer assistance with filing all US taxes at discounted prices. On the other hand, if you prefer to use your own accountant, we are happy to work with them as well. We are here to help make any clarifications or reclassification to operating statements as needed. Our knowledgeable CPAs can help you to save money on tax payments and avoid unnecessary late fees and penalties.
Furnishing Procurement and Inventory Services
We track all inventory and keep detailed records on furnishings in your apartment. We have tenants sign the inventory statement upon moving in so there are no disputes upon the tenant’s vacating the apartment. We will also replace any broken or missing items so they are present for the next tenant. If you would like to rent your apartment furnished, our staff decorators can provide expertise on furnishings based on the specific needs of your apartment.
Legal Services
While our goal is to avoid legal issues in the event they occur, our team stays up to date on all changes with NYC housing laws so we can 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 a representative from the landlord is needed in court, we can attend on your behalf and provide updates of all events.
Routine Property Inspections
When your apartment or building is not occupied by a tenant, our team makes routine inspections to ensure everything in the apartment 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 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
If you have mortgage escrows with a bank, we can review them to confirm completeness and accuracy. On occasion, banks miscalculate funds needed for insurance or property tax escrows, so we are here to ensure the bank refunds any excess funds not required.