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March Monthly Edition 2023

XL Real Property – Helping New York City's property owners manage their property meticulously with impeccable quality standards

XL Real Property – Helping New York City's property owners manage their property meticulously with impeccable quality standards

In a complex real estate market like New York City, partnering with a property manager to represent your individual high-end apartment or small luxury building is vital to creating a prosperous investment experience. The property management philosophy puts your profitability and peace of mind first so you can invest with full confidence, even if you don’t live in New York City. Investing in the right property management firm makes it possible for you to manage your New York City investment property from overseas or from another state so you can achieve the maximum income potential of your luxury apartment, town home, or pied-a-terre.

XL Real Property Management is a high-end residential property management company serving the needs of absentee owners who hold investment condo and co-op apartments in New York City. It manages your properties as if they were its own, giving you peace of mind that your luxury property will reach its full profit potential. With a particular focus on luxury apartments and high-end properties, XL’s approach prioritizes meticulous management services and sophisticated support for foreign investors or out-of-state property owners. It keeps its finger on the pulse of technology, enabling us to streamline management processes, minimize operating expenses, and achieve maximum profit so you can improve the overall financial performance of every NYC property you own.

Why XL Real Property

Easye Payment: At XL Real Property they carefully review and analyze every invoice they receive prior to payment. They will check the invoice thoroughly for accuracy to confirm that there have been no errors in accounting, billing, or overage charges. Tracking the financial activity of your asset is easy with their monthly and annual accounting statements. By the 15th of every month, you will receive their monthly owner’s statement detailing the income and expense activity of your asset, including receipts for ultimate transparency and ease of tracking. Track monthly statements and access financial reports for investors on their website. With done-for-you financial reporting, tax filing is simple and cost effective.

Rent Invoicing: At least one week prior to the end of the month, tenants receive their monthly rental invoice via email or mail. The monthly rent invoice will include a detailed breakdown of any rent and applicable lease or utility charges. Tenants can also log in to their website at any time to check rent balances or to confirm that previous payments have been processed. Long gone are the days of waiting for checks to arrive in the mail so you can make your expense payments. Their online rent payment tool allows tenants to make a payment directly on their website ensuring quick, easy payments every month. Payments can be made via bank account or credit card with no additional fee. To ensure timely rental payments, they provide email and phone reminders to tenants who have not paid rent by the 5th of the month. They will continue to follow up consistently until they receive payment.

State and Federal Tax Filing Preparation: Due to the large volume of work they do through the vendors, their CPAs can offer discounts to the clients for tax filing in the U.S. They can also work with your accountant of choice if that is your preference, and are here to help make any clarifications or reclassifications to operating statements as needed. With extensive knowledge of relevant tax law, the CPAs help you save money on tax payments and avoid unnecessary late fees and penalties.

Helping You Make the Most of Your Investment Property

Lease/Lease Renewal Negotiation: Staying up-to-date on high-end market pricing is a key to maximizing income for your luxury rental. XL carefully reviews neighborhood comparable pricing to ensure your lease and lease renewals are in-line with market expectations. When negotiating the terms of your lease, they negotiate the most favorable terms possible and help you avoid costly mistakes that could invite future exposure.

Volume Pricing on Operational Expenses: If you own a portfolio of luxury apartments, XL can help you secure discounts on everyday operational expenses. From painting and repair work, to insurance premiums, to legal and accounting services, they help you save money through the power of buying in volume.

Reliable, Trustworthy Vendors: In New York City, apartment turnover and other maintenance/repair expenses can add up quickly, creating sizable line items in your investment budget. XL helps you manage those costs by connecting you with the best vendors for maintenance and repair work. Their extensive database of licensed and insured contractors and technicians gives you access to knowledgeable, trustworthy vendors at cost-effective prices. With local representation and knowledge of the market, they ensure that you hire only the best contractors to maintain your high-end investment property.

Insurance Policy Audits: Insurance coverage is one of the most complicated topics in real estate investing. Their team of experts will review your current insurance policy so you won’t be unpleasantly surprised when it comes time to file a claim. They protect your investment by making sure you are correctly insured for the type of asset you own in the event of an accident. Their experience and know-how will ensure that you never have too much coverage, too little coverage, or the wrong kind of coverage.

Opportunity Cost Savings: As the saying goes, time is money. Rather than navigating the labyrinth of the New York City high-end real estate market alone, allow us to save you the hassle, headache and inconvenience of self-managing your assets. Their client-centered approach includes online rent payment and digital statements, allowing you to streamline your property management tasks and reclaim your time for other pursuits.

Dylan Pichulik | Chief Executive Officer

Dylan Pichulik began XL Real Property Management with one goal in mind- provide an unparalleled level of service and attention in a world dominated by companies that seem to have forgotten the basic principles of property management. As the chief executive officer of XL Real Property Management, and with a decade of experience, Dylan is responsible for overseeing the company’s operations and business development objectives.

Mr. Pichulik holds a degree from New York University. He graduated With Honors and was one of the youngest members of his graduating class. Dylan is a proficient speaker of German and English.

"We make it easy for international property owners, overseas investors, or out-of-state apartment owners to manage, maintain, and supervise high-end properties from afar."

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