Property Management Services
Property Accounting Records –
CPI Property Management is responsible to maintain a high level of financial and accounting integrity. Each property has separate bookkeeping and separate operating accounts for each property. Although this is not a legal requirement, it is the best practice when transparency is desired for the owner. It allows you, the owner, to make informed decisions to best suit your properties needs in a timely manner. This practice is extremely valuable, as it allows owners to make accurate forecasting income, expenses, capital improvements, property values, and taxes.
Some tenants will pay rents through our online portal, and you will be able to see these transactions in real time through your owner login. Financial reports can be produces quickly when requested, and all info is securely protected using SSL (Secure Socket Layer, the industry standard used for secure transactions).
Marketing vacancies and establishing tenancy –
Marketing your vacancies is of the utmost importance. We know that each month your property is vacant means valuable investment income lost. In fact, it is so important to us, that once you are under a property management contract, we do not charge management fees while the property is vacant.
Aside from filling vacancies, our goal is to maximize each client’s property value so that maximum ROI can be attained. New accounts and turnovers each receive an inspection, part of which is a value-add option. If we see a way to increase rental income and therefore increase ROI, we will submit a report stating the exact proposal.
We list vacancies using a variety of media, including MLS. We handle all screening of tenants and communicate our findings promptly regarding each candidate. Screenings include credit check, CORI (where required), job validation, reference check, and inquiries in eviction court data and conversations with prior landlords.
With our online payment portals, ease of submitting work orders for tenants, and our high standard of ownership in or tasks, we aim to retain tenants, reduce turnover, and create lasting win-win situations for both tenants and landlords.
Tracking charges and payments –
Our online owners and tenants portals offer real-time access to payments and expenses:
The owner’s portal has real-time access to tenant payments and charge status, income and expenses, maintenance requests and maintenance history, and lease expiry notifications. These systems are very user friendly and make client oversight a breeze.
The tenant’s portal allows both one-time payments of rents and recurring, automatic payments from their account. We cannot require this payment method, and some will choose to send checks in snail mail, but we make every effort to encourage online and automatic payments.
CPI closely monitors these accounts and the histories are reviewed regularly. It is our duty to make sure that all financial factors are recorded accurately including, but not limited to, rent payments, late fees, security deposits, cleaning costs, pet deposits, damage to property costs, and all other fees associated with tenancy.
Full service property maintenance –
CPI is a full service property management company. This means that we can completely manage properties for absentee owners, while giving them online transparency, so that they may have the best investment experience. This includes all maintenance, responding to tenant calls, and dealing with any issues with the property.
Our goal is to take complete ownership of each client’s property, as if it were our own. We are on call 24/7 for emergencies. We have well-qualified technicians to do basic repairs for reasonable rates. We have master electricians and plumbers that give us very attractive rates for volume service work. When we call, they respond quickly. It is these relationships that allow us to respond promptly for reactive repairs.
We also like to be proactive, and during bi-annual inspections, we will do a property inspection that is scheduled with the tenant. During that visit, we will change batteries in smoke detectors and do a full inspection of the premises, taking every care to honor the tenant’s privacy and space. All of these type of visits are scheduled with at least a two week notice for the benefit of the tenant and the owner. Oftentimes, the owner would like to be onsite for these visits.
Massachusetts can be a challenging, yet rewarding, state to have real estate investments in. Our duty is to remove the challenging and leave you with the rewards. However, it is also rewarding and satisfying for us to create long term tenancies and have happy owners and tenants.
What sets us apart –
We are not only a full-service property management company, we are also a full-service real estate company. We have a whole acquisition department that will give you, the investor, a first look at potential deals. All of our deals will be off-market deals that usually need some work. Our rehab division can partner with you to purchase, rehab, and fill vacancies in your new property.
Because we are a multi-faceted company with a broad responsibility in residential real estate, we are well equipped to handle all of your needs with minimal work on your part. We all get into investing for the financial freedom, but often find that we have no time to enjoy our new found financial freedom. Let us help you find that freedom.