Basic Plumbing : Under Sink, Speedy Valve, Change Faucet, Remove / Replace Toilet, Snake Drain, Replace wax ring, Remove Float. Paint/ Plaster: Basic Sheetrock work. Lights : Change Light Fixture, Replace light switch and Test Outlets

• Keep the common areas clean and check all common area lights & areas including Rooftop.
• Sort Garbage
• Keep Curbs, Lobby and Entry of Building clean and swept.
• Attend to Tenant needs w/ PMs.
• Answer all of the Concierge Plus Requests
• Check all common drains : clear of dirt/debris/ foliage on Weekly Basis
• Place signage in lobbies / roofs.
• Give Access when needed and be on call 24/7
• When tenants move out conduct apartment walkthrough checklist, document any damage if applicable. Clean any garbage /items left. Confirm all appliances in working order. (W/D, stove, oven, dishwasher, Smoke Detector and all lights work). Complete any minor touch up’s and broom clean and light paint as required.

• Is the hallway clean and empty?
• Are there any spots on the wall?
• Are all signs are up (HPD, Department of Building + sprinkler + FDNY + super contact, Property Management notices, Roof Notices?)
• Have you checked the drains ?
• Do you need to order supplies ?
• Are any violations & shut off notices & tickets posted to the door – if yes take a picture and send it their property manager + admin
• Anything Broken? Any items to document to Mgmt.?
• Are all the lights working?
• Do any plants need to be watered?
• Do you need to put out the runner (in case it’s raining the next day)
• Did anyone move out ? (If yes, did you get the keys, we need pictures of the vacant apartment)
• Did you check concierge plus today?

• Higher mortgage rates have pushed would-be buyers into the rental market, and some would-be sellers have opted to rent rather than sell. We are still seeing the demand for turnkey rentals, but prices have certainly started to stabilize and soften throughout.
• The COVID migration due to jobs, remote work has more or less settled by now.
• More Rent negotiability. Swing toward the middle of the market VS. the landlord market.
• All Year End Rental charts show a 10% dip in rents heading into December. This was seen on the front end of the market as well in longer Days on Market.
• The available inventory has increased significantly in some neighborhoods (i.e., Astoria/ Sunnyside), increasing the competition. (i.e., 35-25 Crescent is a clone of The Noelle and is asking a few hundred less).
• 2022 Rents in a handful of Peak Buildings launched in Spring/ Summer of 2022 have captured the Top of the Market.
• Renewal increases this year should be minimal to focus on retention to limit your turnover.

• Extreme swings and higher-than-expected costs for utilities. Multiple recent notes from tenants expressing concern, asking for confirmation of meter readings.
• Tenants come back and ask about additional concessions on the renewal year.
• Concession units generally always have a higher churn rate. Tend to be folks looking for short-term vs longer-term. Tenants who think they are going to stay for more than 1 year are usually already thinking about the renewal and price increases in the 2nd year at initial lease signing.
• Competing with yourself (i.e., The Paige vs. The Stella / The Amy vs. The Leslie)
• Shared apartments 3 Beds + tend to have a higher turnover rate or roommate switches. Sublet requests.
• Savvy Tenants are out price shopping.
• Lease Breaks/ Sublet Requests: LL has a duty to mitigate