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There is more to owning a rental community than just paying the mortgage. From leasing your apartment homes to tracking your financial records (and everything in between), the day-to-day requirements of managing your property can become overwhelming.
However, when you hire Oculus Realty, LLC to manage your Washington, DC metropolitan area apartment community, you can free yourself from worrying about the details and focus on your entire investment portfolio.
Oculus Realty, LLC specializes in meeting the management and consulting needs of long-term, closely held real estate portfolios. We are experienced in developing best-in-class property management teams that drive value through operations.
At Oculus Realty, LLC, our goal is to create value through operations. When we manage your property, we will run your building, assist your residents and create value for your investment.
Oculus Realty, LLC provides comprehensive property management services to its clients based on years of hands-on experience and detailed operating policies, procedures and best practices. Our comprehensive property management services are highlighted below.
Through monthly reports and yearly budget creation, Oculus Realty, LLC makes it easy for you to track the financial records of your DC metro property. We will provide you with:
All members of your property’s on-site staff are employees of Oculus Realty, LLC; removing the burden of payroll, insurance and employee benefits.
With a focus on safety, we ensure accident prevention and remediation policies and procedures are in place and provide workers’ compensation insurance for all of our employees.
As part of our ongoing responsibility as property manager, we will manage all landlord-tenant matters including:
Oculus Realty, LLC works closely with seasoned landlord-tenant attorneys to resolve disputes in a timely and cost-effective manner.
Empty apartment homes do not produce revenue for you. Our Washington, DC metro property management firm utilizes the latest technologies and marketing trends to lease its properties. Some techniques used to capitalize on leasing opportunities include:
The physical condition of a property has a major impact on its net operating income (NOI) and value as well as on the surrounding community. A good maintenance program enhances the leasing effort and improves resident relations. It also preserves the building’s physical life and commands higher rents, therefore maximizing the value of the asset.
Oculus Realty, LLC believes in preventative maintenance and renovations to increase the value of your property. When we manage your Washington, DC metropolitan-area property, our maintenance and capital improvement plans include:
A robust energy management program can significantly reduce your property’s operating costs while being environmentally friendly. If your Washington, DC metro property does not have energy management program, Oculus Realty, LLC will develop a comprehensive energy management program as part of our property management services.
Local utilities are notorious for incorrect billing of usage, fees and taxes. Upon taking over a property, Oculus Realty, LLC audits past years’ utility bills through an outside firm. Going forward our property management firm utilizes utility billing management firm Flow Utility to ensure future billing remains correct and to provide detailed consumption monitoring and trending. This information is especially important where utilities are not sub metered.
Annual tax assessments can impact your net operating income. The team at Oculus Realty, LLC works closely with Ownership’s tax assessment appeals council to reduce annual assessments. We also have a long relationship with local tax appeals attorneys to assist in the process.
Each year Oculus will complete the DC Office of Tax and Revenue Apartment Income & Expenses Report (FP-308B-A), ensuring data such as deferred maintenance or rent-control constraints on income are clearly marked. In fact, Oculus Realty’s president, K. David Meit, CPM®, chaired the AOBA working group that re-drafted this form to make such information available to the assessors.
Losses are never expected, but accidents happen. As your property management company, Oculus Realty, LLC will create remediation plans for your property and train on-site staff on disaster management and press communications.
Additionally, Oculus Realty, LLC will evaluate all insurance coverage, make recommendations and place insurance when required. With a long underwriting history with many of the A-rated insurance carriers, we ensure highly competitive premiums for our clients, which will save you money without skimping on coverage.
As a rental property owner, you are subject to regulations and taxes that are created by lawmakers (typically, non-owners). You need an advocate on your side.
Oculus Realty, LLC is a member of the Apartment and Office Building Association (AOBA), the local national Apartment Association (NAA) affiliate. AOBA’s primary mission is to advocate on behalf of its owner members and the real estate management industry. AOBA works tirelessly to curb government regulation and protect revenue streams and reduce operating expenses. Recent examples include their lobbying the Federal government to pay their fair share of the DC Water impervious surface area charges and fighting real estate tax rate increases.
Oculus’s president, K. David Meit, CPM® is a member of the AOBA Advisory Council and member of various committees including the DC legislative and tax committees. Due to this, Oculus’s clients have a “seat at the table” when issues facing the management of real property are discussed.
If you want to increase your Washington, DC metropolitan apartment community’s net operating income, invest in the property management services of Oculus Realty, LLC. Contact our Rockville, Maryland office today. Find out why you should choose Oculus Realty, LLC for your real estate investment.