Research and Analysis
Prior to any acquisition or sale, UPM conducts a thorough inspection of properties. Our job is to increase property value while decreasing any unforeseen liabilities. In addition, an internal account analysis determines any rental adjustments as needed, dramatically boosting the income potential of existing properties.
Field Research and Market Survey
Understanding that the real estate market is in constant flux, UPM aims to stay ahead of the competition. Trained surveyors in the field are sent to ascertain current rental rates, housing availability and possible vacancies. This intelligence gathering determines periodical rental adjustment, with consideration to appreciation and cost of living increases, as well as determining the state of current demand. Maintaining dynamic pricing enables property owners to quickly capitalize on changes in the market.
Our value assessment tools include comprehensive paper surveys and personal interviews. By establishing trusted relationships with managers, surveyors stay abreast of possible zoning issues, new developments that might affect property value, and uncover any other useful data to help keep property above market.
Efficient management is an essential asset to any property. Based on complete property analyses, UPM creates comprehensive projections that include value-adding capital improvements, appropriate budgets, and news and developments in state or federal regulations.
Property Tax Reduction
Over 50% of properties are over-assessed for tax purposes, often resulting in disproportionate taxation. Because challenging a property tax assessment is a laborious process, many owners continue to - unnecessarily - pay the high price. UPM has the experience and the proper procedures to help you lower your property taxes.
Rental & Leasing
We realize the importance of selecting the right tenants, as great tenants can maximize property value. UPM manages all advertising, property showcasing and interviewing of potential tenants. Ads are immediately placed in all appropriate, highly visible media to ensure fast turnarounds.
UPM handles the sometimes difficult and often mundane task of processing tenant applications. We assess the mutual fit of each potential tenant, executing interviews, credit checks and final acceptance of new tenants.
Drafting Rental and Leasing Agreements
Based on 30 years of experience, UPM managers draft highly detailed rental and leasing contracts. Covering more than what is typically expected by the California Realtorsí Association, which can leave owners vulnerable. Our contracts are written fairly but also written to reduce and protect the owners from liabilities that often arise through frivolous lawsuits.
It can be difficult for owners to stay current on property rental regulations. UPM's experience can serve as a guide when it comes to rent control issues.
Eviction can be a lengthy and costly process, as they require timely filings and adherence to specific state and county laws. UPM's thorough documentation becomes a tremendous asset to owners as it builds a convincing case in the court of law.
UPM is experienced in managing homeowner associations, easing the stress for residents. Cooptation directly with association members will minimize conflicts and maximize return. By minimizing potential complications arising from financial and legal matters, we assist in creating friendly residential communities.
Manager Training and Supervision
Dependable on-site managers are key for medium- to large-size complexes, namely to ensure smooth operations and thriving properties. UPM trains and motivates managers to conduct rent collection, maintain friendly but firm tenant relations, enforce site policies, and execute repairs.
UPM's system of rental notifications ensures that notices are served in the proper manner required by law. Rule violations are always properly documented and tenants alerted.
Our managers communicate closely with tenants to review rental payment methods, tiers of delinquency, lease terms, annual increases, and 48-hour notices prior to entering premises for repairs or inspections.
Our doors are open 24/7 through our emergency hotline available to tenants and building managers.
Accounting & Bookkeeping
The law requires that property owners keep all logs on file for taxation and legal purposes for years at a time. UPM maintains a record of all contracts, records of disbursements, and other receipts, down to the postmarks of any late rent-check payments.
To smoothly integrate new tenants into the system, UPM pro-rates the majority of leases to the first of each month. As grace periods and late fees vary by property, UPM manages each accordingly.
All receivables, whether it's the mortgage or remittance to a vendor, are handled through separate trust accounts for each owner and maintained by UPM to ensure that payment flow is complete.
Monthly Operating Statements
UPM records and maintains monthly financial statements needed to accurately account for monetary occurrences for each unit, including cash flow statements, registers and rent roll, to name a few.
Answering to the bottom-line and never cutting corners, UPM believes that a solid investment in reliable vendors will lengthen the life of a building. UPM goes well beyond referring to the Yellow Pages for a good plumber, roofer or landscaper.
Our coordinated cost-reduction policy to obtain at least three separate vendor quotes/estimates for any job over $500 delivers high quality work at competitive prices. All new vendors undergo an evaluation period to determine the quality of their work and pricing. Repairs are evaluated after completion and must be approved before an invoice is signed.
24-Hour Emergency Access
Again, our doors are open 24/7 through our emergency hotline available to tenants and building managers in the event of an unexpected problem.