Property Management

Real estate investment consulting and property management service in New York

Sumitomo Real Estate Sales NY provides consultation for real estate investment, and property management in order to maintain the value of the real estate property as well as to protect clients’ investment profits.

We help our clients find their investment properties such as commercial building, corporate housing, as well as residential condominium buildings. We will manage our clients’ investment property on clients’ behalf, no matter if they live in or outside of the U.S.

We provide market analysis and property information to accommodate each investor's needs. Our rich experience and expertise in the industry help us provide comprehensive guidance from finding clients good real estate investment properties to providing reliable property management for the property they have purchased.

Please contact us here for consultation.

• Handle recurring payments on client’s behalf
We provide payment services for client’s recurring expenses such as property tax, insurance fee, utility charges, mortgage loan, etc.

• Introduction of lawyers in case of eviction and lawsuits.
In the unlikely event of tenant’s late payment delinquency, we will introduce a lawyer when there’s need for rent collection or eviction litigation.

• Insurance enrollment procedures
We will provide guidance for procedures to enroll insurance such as property insurance, Insurent (insurance for rent payments), etc. on the client’s behalf.

•Property management fee
There is a fee for Sumitomo Real Estate Sales NY property management service.
Please contact us for details.

• Investor’s statement
We prepare client’s tax return annually, and will send Investor’s statement to the owner or owner’s CPA, which summarizes the income and expenditure reports. The surplus of the difference between income and expenditure will be reimbursed to the owner or credited back to the owner's account.

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Administrative services
• Rent collection - On behalf of the owner, we issue a monthly rent invoice to the tenant and confirm the payment status.
• We will provide payment services for monthly common charges, property tax, mortgage loan, insurance fee, electricity and gas, etc. on behalf of the landlord by the due date.
• Create and send monthly investor’s report.
• Arrange reimbursement for surplus money - We will remit the surplus of the difference between income and expenses. Also, if the expenditure exceeds the revenue amount, the owner will need to deposit additional funds to our escrow account to cover the shortage. (Third Party Deposit Account).
• Arrangement for the repair and provide client report for the content of the repair and its cost.
• Work to resolve troubles such as water leakage and delay of rent payment.
• Management of tenant's deposit.
• Provide guidance for Insurance enrollment.
• Provide services to prepare for tax returns (Optional service fee).

Maintenance · Property inspection · Repair · Renovation

In order to be successful in real estate investment in the United States, maintenance of the building is key. We periodically inspect and perform proper maintenance so that the property value can be maintained. We will also renovate the room and upgrade its aesthetics and amenities such as refurbishing of the toilet and kitchen if necessary.

Managing the cost and quality of property improvement and construction

In New York, the construction period often gets delayed. Sumitomo Real Estate Sales NY provides arrangement of reliable contractors and conducts negotiations for difficult issues on behalf of the owners.

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Finding tenant
The experienced real estate specialists at Sumitomo Realty Sales NY will research the market and provide the latest market analysis and information to advise our clients. We do not just show the property to the potential tenants, but also conduct a credit check on them so that we can introduce the right tenants. In order to confirm the tenant’s ability to pay rent, we will review the credit history to find high-quality tenants, and will strive to raise the asset value to provide our clients with a higher return on investments.
In addition to finding tenants, we will negotiate lease agreements and assist in all procedures from contract to closing on behalf of our clients.
• Advertisement – advertisement placement on the Internet, social media, DM, newspapers, New York local newspapers, etc.
• Run Tenant's credit report
• Contract – Prepare a lease package
• Approval from condominium board - Submit lease packages to the condominium board
• Move-in procedure - arrange tenant move-ins

Property Sales

We offer the following services to the owner who wishes to sell their property. Please feel free to consult us.
• Provide analysis and estimated sales value of the property
• Advertisement - Advertisement placement and distribution to media such as New York Times, DM and internet.
• Approval from Condominium board - Prepare a Sales Package to submit to the condominium board.