PMI Prime Property

Serves Summit, NJ

35244

Hired 16 times

8 employees

9 years in business

Free on-site estimate

4.4

This pro accepts payments via Cash, Check, and Credit card.

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Credentials

Background Check

Kevin Fletcher
Completed on 5/4/2021

Introduction

At PMI Prime Property, property management is at the heart of what we do, each and every day for our clients and we pride ourselves on the quality of service and attention we provide to each and every client, big or small. Our office has been based in Morristown, NJ since 2017 where we effectively serivce clients located in Morris, Somerset, Union, Warren, Hunterdon, Bergen and Passaic counties. Our clients range from those just starting out with real estate investing and may only hold 1 property, to the more seasoned investor with a larger portfolio or multifamily building; commercial property landlords with retail, office or mixed use properties; and home owner associations. As a full-service property management company, we take the hastle out of owning investment properties as WE handle all aspects of managing the property and tenant relations all while keeping you in compliance with the various federal, state and municiple regulations. Contact us today and let us know how we can help provide professional property management solutions to you or your organization. Property Management Services: - Market Analysis - Property Marketing - Tenant Screening and Selection - Lease Execution - Rental Registration, Certificate of Occupancy and Lead Paint Inspection Coordination - Security Deposit Management - Comprehensive Move-in & Move-out Property Condition Reports - Maintenance Coordination & Vendor Payment - Rent Collection and Financial Reporting - Annual Lease Compliance & Property Condition Assessments - Weekly electronic Owner Draws - Monthly Financial Reports (Owners) - Service Guarantees - Multiple Pricing Plans Available Commonly Asked Questions: - Do you manage for clients with only 1 property? We most certainly do! - How are your fees structured? We offer 3 different plans for our residential clients, so they can determine which management plan best meets their needs. When we are working with clients with larger portfoios and especially for Board Members of Home Owner Associations, we provide customized proposals specific to their requirements. - What if I've never been a landlord before? Not to worry, that's why we are here to help ease the burden of being a landlord. We take care of all the critical aspects of being a landlord, so you don't have to! - Do you coordinate all the maintenance on the property and take the dreaded late night calls? Absolutely! Maintenance is one of the areas that new landlords can make many mistakes in. We have a great team of vendors whom we've worked with for many years and will treat your investment property with the best care possible. We receive the calls, coordinate the repairs and pay the vendor once the work is completed.

Q&A

What should the customer know about your pricing (e.g., discounts, fees)?

We offer our clients different plans to choose from that best fits their individual needs as a client and in accordance with the management plan for the property. Generally speaking, our management fee is a percentage (%) of the base monthly rent and is further discounted for investors with multiple properties. Our pricing is straightforward with no hidden fees beyond what is originally quoted.

What is your typical process for working with a new customer?

When working with a new client, we typically like to start with a brief conversation to better understand their unique needs and the challenges they may be facing. This also gives us a chance to provide information on our services, but relative to the client's needs and/or issues. The next and probably more important step in the process, is to view the property. This step is critical for us as the management company so that we can better understand the specifics about the property, it's current condition and ensure it fits the quality of property we are looking for in our portfolio. As this is a relationship based business, this meeting gives us an opportunity to meet each other.

What education and/or training do you have that relates to your work?

I started in property management years back with my own portfolio of residential properties and can relate to the challenges many landlords face with trying to self manage their properties. In addition to being a licensed Broker, I am an active member of the National Association of Residential Property Managers (NARPM) where I have served on the Government Affairs and Professional Development Committees. On the association side of the business I am a member of the Community Association Institute (CAI) where I hold the CMCA and AMS designations.

How did you get started doing this type of work?

I started in property management years back with my own portfolio of residential properties and can relate to the challenges many landlords face with trying to self manage their properties. I was holding down a full-time job, caring for a family and playing the multi-facet role of landlord, general contractor, collections agent, arbitrator between tenants, etc. I love this side of the real estate business as we bring value to our clients and tenants each and every day through our management services and the systems we provide.

What types of customers have you worked with?

Our portfolio is comprised of various types of clients, but a large segment are the owners with a single property that have relocated for work or were unable to sell their home at a profit due to the economic downturn. Investors comprise the other primary client type and typically they have multiple properties and look to hiring a property manager to deal with the day-day tenant relations so they can focus their energy on acquiring new investment properties.

What advice would you give a customer looking to hire a provider in your area of work?

Do not buy strictly based on price. I've seen many clients shop around and select a management company because they were offering a special rate or were much lower than the competition. You get what you pay for and the quality of management services, attention to critical issues and systems will be sub-par. We have structured our rates to be competitive, fair and at a level that affords us the ability to provide quality customer service to both our clients and tenants. The other important piece of advice I would give, is to recognize that managing a property is more than just collecting rent. There are many laws that impact the landlord and if not followed correctly can lead to substantial penalties. In addition to the current laws on the books, there are many more the state legislature is currently reviewing that will have a major impact on rental properties in our state.

What questions should customers think through before talking to professionals about their project?

As a potential customer considering whether or not to hire a property manager, the following are some questions they should consider: 1) What are my long-term objectives for my rental property? 2) Do I have the time and availability to effectively deal with my tenant, associated maintenance issues, tenant screening and leasing, etc.? 3) Do I have effective systems in place to collect rent, track income and expenses, market my property for leasing, perform background screening on prospective tenants, manage maintenance requests, conduct move-in/move-out inspectives, etc.? 4) Would it be nice to have someone else deal with all the tenant issues and just collect the income from my rental property? 5) What is the value of my personal / family time?