Our Process: Boston Rental Property Management

Step 1: Owner and Property Onboarding

  • We always strive to understand our clients’ objectives for their properties, as this drives our strategic approach to getting you the value and lifestyle you are looking for.

  • Sign your property management agreement to get started.

  • Based on your unique needs, we will plan the timeline and all activities for your property. From turnover work to leasing, we will discuss a handoff schedule of what happens when.

  • In order to provide the best customer service and effective management, we may ask you for various documents including:

    • Insurance documents

    • Lead-based paint disclosure

    • Copy of the deed

    • Condo or HOA information

    • Utility accounts

    • Existing tenant information

    • Key or security fob copies

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Step 2: Prepare the property to be ready for market and move-in

  • A property manager will arrive at your property for an in-person visit. If you opt for our full inspection servce, he/she will prepare a report recommending any repairs, painting, or cleaning needed to get the space market-ready. This might include safety or compliance concerns.

  • The report will be shared with you. A target date will also be proposed for having the home listed on the market. Please review the report upon receipt to ensure all points are considered in the timeline.

  • The owner will approve items from the list to be completed. We will leverage our trusted network of licensed vendors to get the work done quickly and at a fair price. A final quote will be provided and a deposit will be required to initiate the projects. For owners who wish to undertake their own repairs, the Property Manager will do another site visit once all work is completed to re-evaluate marketability.

  • Once the quote is signed-off by the owners, the property manager will ensure all vendors complete the work within the agreed-upon timeframe.

  • After the work is done, we will conduct a quality check to ensure everything meets expectations. Invoices for the work will be reviewed and we will then handle the payments on your behalf.

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Step 3: Property Marketing and Tenant Showings

  • A professional photographer will visit the property to take photos and produce floor plans.

  • We'll write a market-specific description that will showcase your property’s best attributes as well as important information about lease terms and utilities.

  • We will syndicate the listing out to Boston's most relevant websites including Zillow.com, Trulia.com, and Apartments.com, among others.

  • Prospective tenants will be able to make an appointment to view the property or attend an open house.

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Step 4: Leasing

  • All applicants will be rigorously screened to make sure they meet financial requirements including background check, credit check, income verification, and landlord references.

  • All completed applications that pass applicant screening will be presented to the owner for final selection.

  • We will prepare the lease documents with the agreed upon terms, collect the signed documents, and initial funds, including security deposit. We then counter-sign the documents as the owner's representative.

  • When the lease is signed, we collect the renter's insurance policy, if required, and any HOA documents. We will support the transition of any utility accounts, provide access and keys, and set the tenant up for recurring rent payments on our software platform.

  • Tenants are asked to return a statement of property condition, noting any unexpected issues with the property. We will work with the owner to address these as needed.

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Step 5: Rent Collection and Tenant Support

  • Tenants will pay their rent and security deposit online via our property management software. There is no fee to the tenant for this service. All security deposits are held in a separate account as required by Massachusetts state law.

  • Owners receive their monthly disbursement via direct deposit, minus the management fee and any expenses. Owners also receive a statement detailing all transactions on the account.

  • All tenants receive access to a dedicated tenant portal where they can make rent payments, review documents, and submit maintenance requests.

  • When tenants violate lease terms, we take prompt action. Our team reviews the violation and communicates with the tenants to clarify issues. We outline steps for compliance, offering guidance to ensure a quick resolution. Following this, we regularly check in to confirm tenants understand their obligations and are taking appropriate measures. Our goal is to maintain a positive rental experience while upholding lease terms.

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Step 6: Property Maintenance

  • Many maintenance issues can be resolved through phone troubleshooting, allowing for quick problem identification and reducing vendor visits, saving costs for property owners.

  • For small jobs, we bring in a maintenance generalist who can quickly resolve the issue at a great price. Where a specialist is required or the anticipated cost of the work exceeds the agreed-up spending threshold, we bid out to get the best price and most qualified vendor.

  • When a project needs to be bid out, we will collect the quotes and make a recommendation, but then final decision of whether and how to proceed belongs to the owner.

  • Bills for repairs will appear in our owner’s portal. There you view the details of the work order and itemized charges.

  • We supply tenants with a 24/7 emergency number. We will troubleshoot the situation and determine the best remedy for the situation.

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Step 7: Accounting and Reports

  • All transactions and activities on your property are recorded in the ledger so you can log in anytime and review them.

  • Owner disbursements take place around day 10 of the month, after rent payments have cleared and fees and expenses are accounted. Your funds will be transferred to you by ACH.

  • Owner statements are issued twice a month. The first statement covers transactions from the start of the month until the disbursement date, detailing your payment amount. The second statement is for the entire month, providing valuable information for your accounting records.

  • At the end of the calendar year, annual reports will be providing showing all incomings and outgoings for the year. You can share this with your accountant for your tax reporting needs.

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