Nexus Property Management49 North Union St, Pawtucket, RI, 02860
Nexus Property Management™ Franchise provides professional property management for all types of residential property, from single family homes to large apartment buildings or communities. Nexus advises and represents investors looking to purchase rental property and offers current owners a complete service that will result in more free time and better returns without the stress. Clients of Nexus Property Management™ enjoy the benefits of professionally screened tenants, low vacancy rates, savings on repairs and the rapid leasing of available properties. Nexus provides hassle free rental income for property owners and exceptional services for our tenants, with proprietary software, experienced staff and polished procedures. Nexus Property Management™ is Connecting You To Better Living.®
- Has an online portal for owners to view account statements
- Option of sending rent money via ACH to rental owners
- Allows tenants to pay rent online
- Provides rental homeowners a detailed year end cashflow statement
- Bristol County, Rhode Island
- Kent County, Rhode Island
- Newport County, Rhode Island
- Providence County, Rhode Island
- Washington County, Rhode Island
- Bristol County, Massachusetts
Years in Business
6 (Under current business name)
# of Residential Units Managed
# of Commercial Units Managed
What are your fees?
we offer a fair and straightforward pricing model with no hidden fees or unexpected charges to all property owners in Rhode Island & Massachusetts. Most property management companies have no fee schedule on their sites or advertisements; this is a bad sign for individuals when the price can’t be posted for all to see. That can only mean one thing, it’s not the same price for everyone. Here at Nexus everyone is treated fairly so the cost is displayed for all to see beforehand. Nexus Property Management™ has worked to establish a pricing model that is fair and affordable for investors and homeowners alike. We accomplish this while maintaining the highest level of service. We don’t believe in nickel and dime charges like “set up fee”, “administrative fee”, “lease generation fee”. If your property management company doesn't welcome your business and charges you to get started then you need to come to Nexus. If they tack on extra fees simply for doing the job they are suppose to or they charge you to press print and take a lease out of the printer. You need to come to Nexus. Management Fees: are calculated on a graduated scale according to the rent amount for single family homes or condos. Management fees for multiple family homes or apartment buildings are calculated on a 3 tier scale according to the number of units paying rent. Single Family: Nexus Price Schedule Rent amount less than or equal to $850/month - 10% of collected rent Rent amount from $851/month to $1200/month - 9% of collected rent Rent amount greater than $1201/month - 8% of collected rent If one owner places multiple single family homes under our management they will receive multifamily pricing. Total number of homes will determine management fee. Multi-Family/Apartment Buildings: 6 units or less - 8% of collected rent 7 - 35 units - 7% of collected rent 36 or more units - 6% of collected rent RErental Service: is 50% of 1st month’s rent or $450 whichever is greater. Once an OWNER approved tenant is placed. NEW TENANT GUARANTEE If a tenant we place for any reason leaves the unit in the first 90 days we will market your property and place a new tenant for free! We do not charge a “set up fee” We do not keep late charges We do not charge “lease renewal fees” We only benefit when our owners and tenants benefit. We don't charge “vacancy fees” . We believe our clients are team members. Therefore we benefit together when properties are performing well and do our best to help them get back on track when they are vacant. Nexus Property Management™ will work hard to bring the best return and maximum efficiency to all of our clients real estate. Our goal is to bring the cost of property management to zero, by raising income and equity for each property beyond where it was before Nexus Property Management™ took over.
How do you take care of repairs and maintenance on properties?
Here at Nexus Property Management™ we provide exceptional maintenance services that include: RI Property Maintenance Property evaluations We will photograph and evaluate all properties We will submit a report on the condition, detailing any issues that need to be addressed immediately. Any issues that may come up in the future and suggestions for upgrades that may increase rent and/or lower vacancies Maintenance Requests We provide multiple ways for tenants to contact us and submit maintenance requests. These requests are reviewed and then a work order is submitted to our in house technicians or to one of the vendors in our network All non emergency work orders over a predetermined price are submited for owner approval before any work is scheduled Preferred pricing We provide value by lowering repair costs through our in house maintenance department and a network of quality vendors who offer preferred pricing. We are able to offer lower prices because of the efficiency of our systems, experience of our staff and the volume of business we can bring to our vendors.
How do you screen prospective tenants?
Here at Nexus Property Management™, we pride ourselves on placing quality tenants in all our properties. Our rigorous 6 point background investigation gives our property owners the best chance of filling vacant properties with the right type of tenants. The most vital stage of the tenant screening process is to find out who the applicant is, where they’ve been, what they do and where they are likely headed. During our background investigation phase, the following 6 areas will be closely examined in order to provide our owners with as much information as possible in order to evaluate each application. CURRENT LIVING SITUATION This component examines the tenant’s current and past residences. The current landlord will receive a call from our leasing division to inquire about the current tenancy and to discover if there have been any notable issues (Nonpayment, damages, etc). Most landlords are very open during this conversation and will explain if they are a desirable/undesirable tenant. In addition, their prior landlord will also be contacted in order to hopefully establish a positive trend in tenancy. IDENTITY Is the prospective tenant lying about who they are? NO CHANCE! Our software matches up social security numbers, license numbers, addresses, last names, dates of birth, license plate numbers, etc. to make sure everything listed is correctly related. If a person tries to enter false information the system will notify us and the tenant will be immediately screened out. EMPLOYMENT Our leasing division will contact current employment supervisors, obtain scanned copies of paystubs, and also require employment verification letters as well (if necessary). The most important part of renting is finding out whether or not they are likely to pay. Our standard guideline is that tenants collectively earn 3X (or more) the rent amount in monthly income in order to be considered. CREDIT HISTORY During our screening, we obtain records from all current creditors and uncover the prospective tenant’s current indebtedness (if any). Our software obtains all amounts owed and lists all creditor's names. In addition, bankruptcies and foreclosures will also appear in full detail. EVICTION CHECK Evictions are an immediate red flag, and typically if they appear on a prospective tenant’s record it is not recommended to approve their application. Some extenuating circumstances can apply, but generally, this is an automatic disqualification. An example of an exception was a gentleman who had cancer and did not have health insurance. He fell deep into his medical bills and was unable to pay his rent during that period of time. CRIMINAL CHECK RI eviction service A person’s criminal record says a great deal about their character traits. Generally, our staff will take a look at the severity of the charge to determine whether or not their application can move forward. Simple charges like driving with a suspended license can be overlooked, but evidence of robbery, car theft, assaults, etc. are an immediate red flag. TERRORIST International and Domestic terrorist databases are screened to verify that the prospective tenant is not wanted by any global agency and/or has not been arrested in the past for this type of crime. It is very rare to come across a prospective tenant with a red flag in this area, but we still check each prospective tenant for your safety
When can I expect to receive my rent money?
Owner draws are sent on 5th, 10th, 15th, & 20th of each month or by request.
I already have a tenant in my property. Will you be able to still manage my property?
Yes we can take over management at any time. During a vacancy, mid lease or even during eviction situations.