Getting started is easy! Follow these simple steps and M3 Properties will soon be managing your investment so you can experience the hassle-free experience of doing business with M3.
1. Contact M3 Properties and we can review your specific needs. We will provide you with a management agreement and can answer any of your questions.
2. If you currently have a property manager that needs to be terminated:
a.Check your current property management contract to see what type of notice is required. It is typical that you will be required to give a written 30 day notice. If possible, call the manager to see if they will accept a shorter notice. Many will, especially if they know that you are unhappy. If you do not have a written contract, assume 30 days is required.
b.Compose a brief letter such as the sample below:
As of _____________ (date), your services at ______________ (property address), will no longer be required. A representative of M3 Properties will be in touch with you prior to the termination date to pick up keys and any pertinent files. Please send remaining funds in my account directly to me including tenant security deposits.
c.Please send a copy of the letter to M3 Properties.
3. Compose a letter notifying your current tenants as to the change in management. We can help you distribute this letter by enclosing a copy of it along with our letter to the tenants introducing M3 Properties and our policies. b.Compose a brief letter such as the sample below:
As of _____________ (date), your services at ______________ (property address), will no longer be required. A representative of M3 Properties will be in touch with you prior to the termination date to pick up keys and any pertinent files. Please send remaining funds in my account directly to me including tenant security deposits.
c.Please send a copy of the letter to M3 Properties.
4. Along with a signed copy of our management agreement, provide M3 with the following items (if applicable) in order to enjoy a smooth transition:
a.Copies of all recent bills, including mortgage, property tax, insurance and utilities.
b.Name and phone of any regular vendors, including gardening, trash and laundry.
c.Name and phone number of Resident Manager, and copy of employee contract.
5. Rent roll, including:b.Name and phone of any regular vendors, including gardening, trash and laundry.
c.Name and phone number of Resident Manager, and copy of employee contract.
a.Name, address and phone number of tenant.
b.Copies of leases.
c.Amount of security deposit, date and amount of last rent raise, balances owed and last rent payment.
d.Copies of keys, including storerooms and laundry.
e.Pending inspections, if any, such as Section 8, SCEP, Health Dept.
f.First page of insurance policy, showing coverage, and name and phone number of agent.
g.Rent stabilization certificates.
6. We will begin sending you your monthly report on the 15th of the month.b.Copies of leases.
c.Amount of security deposit, date and amount of last rent raise, balances owed and last rent payment.
d.Copies of keys, including storerooms and laundry.
e.Pending inspections, if any, such as Section 8, SCEP, Health Dept.
f.First page of insurance policy, showing coverage, and name and phone number of agent.
g.Rent stabilization certificates.
7. You will be able to enjoy your investment free from the day to day responsibilities.
Thank you for choosing M3 Properties.