A growing Asset Management Company had 12 communities under management. The Company held mostly A to B+ class communities with healthy rental rates. The company had capital and plans for significant growth and needed a way to achieve that growth quickly.
A property management firm responsible for 60 properties with more than 15,000 units for various owners. He felt he was bogged down by many processes and needed to be focusing on the growth of the firm more.
An owner of five multi-family communities in Texas totaling more than 1,500 units was working with two different management companies. These national management firms provided full management and financial reporting for each property.
The owner spent an average of $8,900 per property per month, for a total of more than $44,000 in monthly management fees. His goal was to have greater control and more influence in the management and potentially save money too.
Case Study – Hands On Owner
Ascent shares their experience working with a hands-on owner who decided to take the management of his properties in-house.
Energy Tax Credits
Let’s talk a little bit about energy tax credits, something that many multifamily developers forget to follow through on.