Multi-Family Management Services
Our team of dedicated professionals is experienced in the marketing, leasing and management of multi-family and student communities. An overview of our management plan follows.
Routine Maintenance – The property will be inspected on a scheduled and non-scheduled basis by the assigned property manager and other members of management. Written inspection reports are generated with action items attended to promptly. A monthly preventative maintenance calendar will be devised for the property.
Service Request System – Requests for service (work orders) are received by phone by the site manager or leasing consultant. The work order is immediately entered using the Brown Investment Properties' software work order system, MRI, and assigned to the maintenance supervisor or contractor for completion. All requests for service are to be completed within 24 hours of receipt. A follow-up call is made by the office staff to insure that the work was completed to the resident's satisfaction.
Emergency Maintenance Procedures – Residents are provided telephone numbers that are answered 24 hours per day to provide service. Once the technician on-call is contacted by the answering service, the technician places a call to the tenant to discuss the problem. A visit for repairs/replacements is made immediately as necessary and agreed to with the resident. An emergency service log is kept by the technician on-call and the property manager is notified immediately the next morning of any calls that were received during the previous evening. Our managers and executives can also be reached 24 hours a day.
Cash Control Procedures – No cash is accepted on the site level at multi-family properties.
Budgeting Procedures – Once the budget is approved for the property by the owner, it is entered into the computer system. The manager has a copy of the budget for their use and tracks all expenditures utilizing a budget control book on a general ledger code basis.
Rent Collections – Our team of property managers and accounting personnel are vigorous in the collection of all monies due the owner on a timely basis. Lease provisions including property rules and regulations established by the owner (which we will assist you in formulating) are enforced on a uniform basis with all residents, subject of course to the provisions of the lease. This promotes harmony among the residents and provides the maximum return to owner.
Rent for all residents is due on the first of the month with a five day grace period to pay rent. On the sixth day of the month, the late fee equivalent to 5% of the rent or $15, whichever is greater, is charged to the resident. Court papers for Summary Ejectment are filed on the morning of the eleventh and the entire eviction process can take 30-45 days from the day of filing.
Our resident retention program begins on the day the new resident moves in. Within one week of move in, a survey is sent to the resident to insure that the move in process was pleasant and satisfactory. This survey is returned directly to the Vice President of Property Management for review and filters down to the regional property manager, site manager and maintenance staff. Residents are formally contacted 60 days prior to their lease expiring for a personal meeting to discuss their lease renewal. Prompt and efficient service everyday is the key to successful resident retention.
A proposed marketing plan and budget for the property will be devised and the plan will encompass, but will not be limited to the following areas:
Your community will focus on the following target markets to achieve the desired rents and occupancy:
- Local employers
- Neighboring communities
- Internet inquiries
The advertising for the property will rely primarily on print media, including local newspapers. Other important advertising avenues include direct mail, outside marketing by leasing consultants and managers and a strong public relations campaign.
The advertising goal is to establish the property as a highly desirable community.
Target advertisements will be prepared for local newspapers, trading post publications, dealer magazines and other publications which reach current multi-family residents and potential new residents.
The leasing staff will participate in local events to establish visibility and name recognition for the property.
Brochures, pricing, and an amenities list are personally distributed to area businesses, real estate agents and home locators. The leasing staff visits these offices on a regular basis to deliver information concerning the community.
Thank You Cards
All clients will be mailed a personal thank you card from the leasing consultant within 24 hours after the visit to the property.
The community will have its own home page on the Internet, complete with address, phone numbers, pictures, floor plans, and e-mail address. The community's web site will be listed with all major search engines available on the web, and can be reached by typing in a wide range of keywords.
Brown Investment's home page will also provide direct access to each community's web site. Listing the community individually, as well as part of Brown's web page, will generate additional traffic to the web site and lend credibility and permanence to potential residents. Visitors to the property's home page will be able to e-mail the community to receive more information, brochures, etc.
Leasing goals for each week will be set and extensive follow-up performed with all phone inquiries and visits to the property through phone calls, thank you notes, and setting second and third appointments. Leasing goals and conversion ratios are monitored by the site manager, regional property manager, and Vice President of Property Management. Advertising and marketing costs are directly tied back on a monthly basis to cost per qualified prospect and cost per lease. A leasing matrix will be developed of lease terms to be offered.
The performance of your property will be closely monitored on a daily basis by the property manager, Regional Property Manager, Vice President of Property Management, and Chief Financial Officer to insure that the property is staying within budget, rent is being collected on a prompt basis, bills are paid on a timely basis and compliance with all internal policies and procedures.