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Being a landlord is not easy, especially in busy cities. It is a full-time job that requires all of your attention, so it is easy to get overwhelmed. That is where the Property Management Company comes in.
But are they really worth it?
ThreeBestRated® reached out to Rick B. Elezi, President of R.E.M Residential, a ThreeBestRated® award-winning Property Management Company in New York, to tell us the benefits of hiring a Property Management Company.
“The management of any residential property is a formidable and time-consuming activity. It includes everything from collecting maintenance, common charges, and rent, to making certain that the boiler functions properly, to complying with local codes, ordinances, laws, and regulations,” Rick says.
And when the owner or joint board committee cannot fulfill those full-time obligations for their property and are seeing their investment depreciate, it is time to hire a reputable management company.
According to Rick, below are some of the benefits of hiring a property management company:
- They can provide extensive oversight and research on how to maximize the value of your property as well as in-depth management of the finances of a property.
- They are professionals who will work to establish and implement effective preventative maintenance programs.
- They stay up to date with local codes by utilizing the most sophisticated tracking software the industry has to offer.
- They ensure owners and/or joint board committees are protected legally. Management companies are experienced with housing laws and can provide extensive guidance.
About Rick B. Elezi – R.E.M Residential:
Throughout his high school and college life, Rick worked as a full-time doorman/porter and handyman. “After trying different jobs, I was drawn to the multitasking of property management and enjoyed the challenges it presented,” he says.
He worked as a property manager for a number of companies before starting R.E.M Residential together with his wife in 2000. “We set out to be the best management company, not the biggest,” he says.
They have a great, close-knit culture in the office and ensure their employees are not overwhelmed with the workload. They balance enjoying their life in New York City while performing at their peak.
R.E.M Residential was honored with the title of Trailblazer of the year in 2014 and Property Management Company of the Year in 2016 by the New York Association of Realty Managers. SiteCompli honored them with the Pioneer Award in 2017, and they also won the title of NYBM Property Management Company of the Year in 2019.
They have also been consistently listed as one of the top rated Property Management Companies in New York since 2017. “It is an honor to be on the Top Property Management Companies in New York list. I follow ThreeBestRated® on Facebook and have noticed their involvement in the industry and how careful they are with their selections. The overview, specialty, and inspection report sections of the review are great feedback for us, and the due diligence put into the 50-Point inspection also makes ThreeBestRated® a trustworthy source to receive these accolades from,” he says, sharing his excitement.
Rick plans on taking more Co-ops and condos this year, “Until the last few years, we were predominantly a rental management company. Now, we are at about 40% coops and condos and are looking to grow that further. Luxury condos and coops are our sweet spot with 50-150 units,” he says.
To know more about them and their services, visit their website, remny.com.
About ThreeBestRated
Three Best Rated® was created in 2014 with the simple goal of finding the top 3 local businesses, professionals, restaurants, health care providers, and everything in-between, in any city. Every business is meticulously handpicked by our employees. We check business’s reputation, history, complaints, ratings, proximity, satisfaction, trust, cost, general excellence, reviews, and more, using our 50-Point Inspection. We only display businesses that are verified by our employees. Other places will call this “hard work” and “unnecessary”. We call it “due diligence” and “the right thing to do”. Our website is updated on a regular basis for quality and the latest business information.
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