Property Management
We excel in managing the day-to day operations
of a wide variety of property types
including - Condominiums, Cooperatives, Low & Moderate Income and HUD project- based residences. In New York City co-ops and condominiums, quality of life is frequently determined by quality of property management. We work closely with co-op and condo boards to establish and implement policies that will enhance the quality and value of their buildings. We employ practical strategies by planning and implementing preventive maintenance, timely response to all maintenance issues and budgetary tracking. We offer complete financial planning and management services to help clients align operation and maintenance activities with their overall business objectives.
New York is one of the most complex regulatory environments in the world; our compliance capability is a proven, critical resource for our clients. Our team is knowledgeable with all NYC Department of Buildings Codes, NYC Fire Department Regulations, The NYC Housing and Maintenance Code, the multiple dwelling laws for rent stabilized buildings. Furthermore, we are proficient and efficient in complying with recertification for Tax Credit, HUD and Home funded projects.
Development
HANDS ON PROJECT MANAGEMENT TO ACHIEVE TIMELY AND MEASURABLE OUTCOMES
Our principal developer Gloria Hopson has developed in excess of 400 rental units and marketed the development of over 40 home-ownership sites in New York City with a proven track record of consistently exceeding client's goals.
UMDI presents multifaceted perspective with superb comprehension of market trends and conditions to identify development opportunities. Our established relationships with public agencies and community ensure the achievement of your project outcomes.
We assist our clients in applying and securing public financing such as:
Article 8A Loan Program – provides low interest loan for moderate to major renovations of vacant or occupied buildings with twenty (20) or more units.
Home Improvement Program (HIP) - provides loans of up to twenty thousand dollars ($20,000.00) for owner/occupied 1-4 family homes. The City provides a grant which reduces the bank’s interest rate to 2.5 or 5% depending on borrower’s income.
Preservation Participation Loan Programs (PLP) – provides low-interest loans to private residential building owners for the moderate - to- gut rehabilitation of housing for low-moderate households at below market interest loan with 30 year term.
Senior Citizens Home Assistance Program (SCHAP)- loan assistance amount of up to forty thousand dollars ($40,000.00) for a household who owns and occupy 1-4 family home. The loans vary from no interest deferred loan to fully amortizing 3% interest loan.
Small Building Loan Program- provides loan at 1% interest with a 30 year term for moderate-to-gut rehabilitation of buildings containing 1-20 units. Properties must be at least 50% residential and must be privately owned.
Weatherization Program- provides up to twenty thousand dollars ($20,000.00)
Real Estate Tax Abatement – Applications for Real property tax reduction on city properties, when owner has invested in the improvement of the properties and its’ systems.