INVESTORS FACE UNIQUE PROBLEMS IN ASSOCIATION-CONTROLLED COMMUNITIES
Investor-Owners of properties in association-controlled communities face unique challenges in today’s real estate environment. Potential tenants have an expanding array of housing options, requiring landlords to offer competitive rental rates and better-quality properties. New legislation and ever-changing association rules not only make operating your rental business more difficult, they can also negatively impact your bottom line.
We are uniquely positioned to help investors navigate the complexities of owning rental properties in association-controlled communities. Our leadership is a licensed and skilled in manager of community associations, and has extensive experience working with tenant occupied units in condominium and homeowner association communities on behalf of investor-owners.
Our services are custom-tailored to the needs of investors and include:
Pre-Purchase Inspection and Analysis
– Physical aspects of the property including HVAC, Plumbing, Electrical, and Structural
– Repair, maintenance, and replacement recommendations for the residence
– Review of the community and common elements
– Full reporting of the above
Rental Analysis/Investment Analysis
– Comparative rental rates in the immediate area
– Estimate of “days on market” to acquire tenant
– Complete financial analysis concerning anticipated rental investment
Association Document Review
– Review of documents and all amendments to determine suitability for rental investment
– Review of Management Company, rental rules & regulations and other restrictions on use.
Association Financial and Operational Review
– Review of all financial reports to determine financial health of the association.
– Review of Reserve Schedule and reserve funding plan
– Review of vendor payment history
– Review of Maintenance Plan, Disaster Recovery Plan
– Review of Insurance Coverage and specifications of policy limitations and exclusions
Board and/or Membership Representation for the Ownership Group
– Ensure ownership’s needs are represented in all board meetings
– Assist ownership with securing board leadership positions when applicable
Property Acquisition/Disposition Services
– Professional brokerage services available through 3rd party affiliations
– Expert comparative market analysis
– Professional representation in local MLS and to “in-network” buyers.
On-Going Property Management Services of the individual rental unit
– Advertising and Marketing
– Tenant Screening
– Day-to-Day Management of the rental
– Accounting and Rent Collection
Full Service Community Association Management Available – Contact us for details.