First Rate Property Management (First Rate) takes a lot of pride in managing investment properties and maintaining the high standards that we have set forth within our company. One tool and method that we employ to accomplish these goals and to maximize our client's investment is the Continuous Service Agreement (CSA).
A CSA is an arrangement with a utility company so that the utility service is not shut off between tenants. When a tenant moves out and schedules services to be terminated, the utility company should revert service back into the property owner's name, rather than shutting the utility off. First Rate property owners supply us with a power-of-attorney authorizing us to commence these agreements. We set up the CSAs with the power and gas companies for each rental we manage.
The CSA is important, as it should ensure that there is no interruption in service. We don't want any interruption for any tenant; we want the tenant taken care of and to not have to worry about utility issues. When we receive notices to vacate from tenants we are able to schedule a new tenant to move in within a matter of days from when the old tenant moves out, because we are relatively assured that there won't be any interruption in service and can schedule vendors accordingly. If utilities were shut off between tenants it would cause delays in our processes.
Having CSAs set up on your properties is important and can save you money in the long run. The charge to turn service on is more than reverting it to the CSA, and doing so will not cause a delay in getting the property ready for the next tenant. The property will be turned over quickly with fewer interruptions and therefore your income is maximized with fewer days waiting to get the property ready for the new tenant.
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