How it works
From first conversation to monthly report.
Every engagement follows the same five steps. Nothing starts until the scope, the fees and your decision rights are written down.
The engagement
Five steps.
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Step 1: Initial property review
We start with your goals and the property itself: unit count, condition, leases, resident balances, recurring expenses, vendor arrangements and known issues. We identify immediate concerns and gaps in the records, and decide with you whether Summit can provide the oversight the property needs and arrange the professional support it requires.
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Step 2: Written scope and authority
Before any work begins, we agree in writing on the included services, the management fee, separately charged work, reporting dates, contact methods and decision rights. Spending limits, emergency procedures, account access and the arrangement for licensed activities are documented, along with the responsibilities of you, Summit, any existing staff and outside providers.
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Step 3: Management transition
We collect leases, rent rolls, financial statements, deposit records, keys, warranties, insurance information and vendor contracts. Opening balances are confirmed rather than assumed, and any discrepancies are identified and brought to you. Residents and providers receive an introduction you have approved, with instructions for submitting requests and payments.
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Step 4: Property plan and recurring work
We build a prioritized list of immediate repairs, overdue documentation, upcoming lease events and recurring maintenance, set the visit schedule and start the compliance calendar. Every open matter has a responsible person, and you are told when a decision or additional funding is needed.
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Step 5: Ongoing review and handover
Each reporting cycle reviews cash activity, balances due, vacancies, work orders and approaching expenses. Significant changes are discussed with you and the approved plan is adjusted when needed. If an engagement ends, property records, account information, keys, open matters and a final reconciliation are handed back in an organized way, as set out in the agreement.
Operating standards
The standards we hold ourselves to.
| Area | Standard |
|---|---|
| Accountability | A responsible person for your property, with a backup and an escalation contact you know by name. |
| Communication | Requests, material updates, your decisions and unresolved issues are recorded. |
| Spending authority | Written budgets and approval rules, with emergency authority defined before an incident. |
| Vendor selection | Scope, relevant qualifications, insurance, pricing and required licensing reviewed before a vendor is engaged. |
| Financial visibility | Charges supported by records; management fees and additional charges disclosed in writing. |
| Completion records | Work status, supporting documents and confirmation of completion kept with the property record. |
Availability
Availability and emergencies.
Contact hours, backup contacts and emergency escalation are agreed in writing before management begins, so availability matches the people actually assigned to your property.
The agreement distinguishes an urgent safety or property threat from a routine request, sets out how after-hours incidents are received and routed, defines in advance who may authorize emergency work, and states any related charges.
Pricing
A written proposal for each property.
- Ongoing management is priced through a written proposal based on unit count, location, property condition, reporting needs and regulatory complexity.
- The recurring fee is either a percentage of collected rent or a fixed amount, and the proposal states how it is calculated, any minimum, and what it includes.
- Leasing, setup, capital project coordination and additional visits are priced separately when they apply.
- Vendor bills, legal work, filing charges and insurance remain owner expenses unless the agreement expressly includes them.
- Any markup, referral compensation or related-party relationship with a provider is disclosed to you in writing.
Questions
Common questions.
Do you manage single units?
Yes. Individually owned rental apartments and single rental homes are part of what we manage, alongside multifamily and mixed-use buildings. We take on a property when we can give it proper local oversight.
Do you work with owners outside New York?
Yes. The monthly owner package and a written approval process are designed so you can follow the property without being nearby. The property itself needs to be in New York City, Nassau County or Suffolk County.
How are fees set?
Through a written proposal based on unit count, location, property condition, reporting needs and regulatory complexity. The recurring fee is a percentage of collected rent or a fixed amount, and anything priced separately is listed before you sign.
Who approves repairs and spending?
You do, under rules agreed in writing. The agreement sets spending limits, approval steps and who may authorize emergency work. Work above an agreed limit comes to you with the estimate before it goes ahead.
Do you handle evictions or legal matters?
No. Legal action is a separate professional service. We document balances and follow-up, and coordinate with your attorney when a dispute, enforcement or possession matter needs legal handling.
What do you need from me to start?
A conversation about your goals, and whatever you have on hand: current leases, the rent roll, recent statements, deposit records, vendor contracts, insurance information and a list of known issues. Gaps are fine. Finding them is part of the initial review.