Our asset management service is intended to maximize the cash flow from the property by closely supervising and motivating the client's third-party property manager. We serve as our client's local eyes and ears in working closely with the property management company. Our experience of managing over 30,000 units gives us the tools to effectively oversee the third-party property manager.

Third-party property managers, no matter how professional and well-intentioned, have a natural aversion to monthly explanations of negative variances to the budget. As a result, they tend to budget below market income and above market operating expenses and replacements with the result being an understated net operating income budget.

With this understanding clearly in mind, our asset management service includes:

• Supervision and motivation of the client's property management company to maximize cash flow.
• Review of monthly operating statements.
• Review and approval of rental rates and concessions.
• Review of bids for major renovation projects.
• Review and approval of annual operating budgets.

In addition, we evaluate net operating income enhancing investments and hold versus sell scenarios, and refinancing alternatives in order to maximize our client's returns.

If you would like to review the specifics of our Asset Management Services, click here.