Corridor Property Management, LLC is a fully integrated real estate service company offering complete property management services for commercial real estate, including multifamily, single family, retail and office. We design property-specific budgeting, marketing and capital improvement plans in concert with ownership to maximize each asset's performance and value. Additionally, we offer comprehensive real estate consulting services including detailed due diligence and property analysis for our clients. Corridor offers a seamless delivery of services and achieves the utmost level of efficiency with its personal approach to maximizing cash flow, long-term equity growth and concern for the physical integrity and enhancement of the asset. Corridor controls business risk for its clients through compliance, risk management, accounting, and human resources functions that work in collaboration with our property managers.

Corridor approaches community management and the ensuing challenges from an owner's perspective - delivering unparalleled property management, expense savings, and the reduction of real estate investment risk. Through a tenant-driven and service-oriented approach, Corridor consistently delivers high rents, increased retention, and maximized tenant satisfaction.

Our primary focus in recent years has been multifamily housing with an emphasis on student accommodations. We offer a wide breadth of experience, having managed virtually every asset type including garden-style, mid-rise buildings, mixed-use and adaptively re-used buildings. Our competent staff of real estate professionals and executive personnel provides financial, operational and administrative management in the day-to-day operations including vacancy advertising, rentals, rent collections, evictions, monthly financial reporting, tenant communications and community maintenance.

Corridor’s technology resources develop, integrate and deploy state of the art systems for owned and managed properties, creating unique and best-in-class solutions for property management in the 21st century. Prior to the start of any purchase or management project Corridor performs a full technology analysis not only to ensure a smooth transition but also for purposes of budgeting in order to bring the project’s technology to its optimal operating position. This proactive approach ensures that expenses are controlled and tenants remain satisfied. Our organization is designed to produce a unique system of checks and balances for controlling operating costs that maximize income.

Our continuous training and development programs provide education, marketing techniques, salesmanship, lease negotiations, and resident retention and relations skills. Corridor offers an excellent working environment with career opportunities, competitive salaries and excellent benefits.

All of this, along with our commitment to excellence makes us certain that you will feel confident with our services. We look forward to meeting with you to discuss the special needs of your property.

Frequently Asked Questions

Why should I engage a property management company?
How much do property management services cost?
What is included?
What areas do you currently service?
What types of properties do you manage?
What requirements do you have of the owner in order to begin managing a property?
How do I get started?

Why should I engage a property management company?
Property management companies can save the owner time and take the guesswork out of the necessary day-to-day management of your investment property. Corridor Property Management, LLC use its resources to market the owner’s property and find the most suitable tenants. We collect rents, handle all tenant communications, use up-to-date lease agreements designed to protect the owner, pay bills on the owner’s behalf, coordinate vendors to maintain the owner’s property and provide the owner with updates and monthly statements.

How much do property management services cost?
Property management service fees vary according to the term of the rental and the size and location of the property. Please contact us for an assessment of your property and a free no-obligation quote.

Fees and services typically include

• Monthly management fee

  This fee is collected monthly for managing the property and is generally based on the property’s gross receipts.

• Lease-up fee

  This fee is collected for leasing a vacant property or unit. For this fee, we obtain rental applications, run background and credit checks and verify income/assets of potential tenants. This fee also covers our services for drafting residential lease agreements, addendums and overseeing all aspects of moving a new tenant in.

• Start up fees

  This fee is collected when we begin the management process for a new property or owner. The start up fee covers all initial costs of advertising and marketing and of showing any vacant property. It also covers a portion of the administrative costs incurred to set up bookkeeping, record keeping, banking and communication systems for a new owner or property.

• Reserve fund

  We require that our clients maintain a reserve fund. The money is used for repairs, maintenance or payment of other bills and is refundable if not used. We obtain owner approval prior to the use of the reserve fund except in the case of emergency.

What is included?

• Full Management
  • We will prepare and fill your vacant units. We provide collection services and handle all tenant issues. We provide detailed monthly statements and disbursement, as well as tax information prepared by our accounting staff.
• 24 Hr. Maintenance
  • We have an in-house experienced crew on hand for day-to-day maintenance and repairs and work closely with trusted professional vendors to handle and complete capital renovations.
• Tenant Screening
  • All potential tenants are screened for credit, employment, housing, and other references. We also personally interview every qualified applicant to ensure only the most qualified tenant is chosen.
• Rent Collection/Eviction
  • We enforce all rules and regulations. We take care of all tenant disputes, service of all notices, evictions, as well as collections. We will advise you of your options to reclaim your property and or any lost rent.
• Advertising/Corporate Partnerships
  • We advertise your vacancies strategically to maximize exposure while keeping costs to a minimum.
• Resident Manager Training
  • We hire, train and supervise all property managers.
• Customized Plans
  • Provide management plans based on the properties specific needs.

What areas do you currently service?

Corridor Property Management, LLC currently services the Connecticut, Iowa, Illinois, North Carolina and Pennsylvania areas, with plans for expansion into the Midwest and Southeast in 2010.

What types of properties do you manage?

Corridor Property Management, LLC specializes in commercial real estate which includes multi-family, single family, retail and office properties.

What requirements do you have of the owner in order to begin managing a property?

We require that the owner maintain/obtain adequate liability and property/building insurance coverage. Every property differs but typically, we require that the owner have coverage of no less than $1,000,000 per occurrence and in the aggregate. We also require that Corridor Property Management, LLC be named as an additional insured on the policy.

How do I get started?

Please contact us via phone or email so that we can gather the necessary information to assess your property and provide you with a free no-obligation quote. Once the quote is approved and the contract is in place, we will begin with an initial inspection of your property and provide our findings, including comparable rents. We then begin strategically marketing your property and locating a suitable tenant/renter!