Comprehensive Management

Ownership insight. Operational excellence.

When it comes to multifamily property management, no internal or external variable may be assumed, inferred or left unexamined. At Preferred Communities, we refer to this property management style as Comprehensive Management. This attentive approach makes all the difference in operational efficiency and effectiveness.

All Parties’ Interests are Aligned At Preferred Communities, we maintain an ownership perspective on all properties. This aligns everyone’s interests and lets the team focus on improving operational performance and optimizing investment returns. With many third-party fee managers, this is not the case.

Market Awareness, Management Responsiveness

Comprensive Management click to enlarge

Another critical part of Comprehensive Management is continuous market awareness. This pertains to any dynamic of the marketplace including seasonal timing. An example of this concept would be the techniques used to match resident lease expirations with seasonal traffic trends to minimize annual unit turnover while maximizing revenue opportunities.

By managing existing lease exposure to carefully match seasonal trends in leasing traffic, Preferred Communities improves both property occupancy and the realized effective rental rates. We take this critical element of effective management even further with an integrated scheduling of manpower for unit make readies to improve productivity and reduce turnover costs, even during the busiest leasing season. The combined effect is an improvement in property performance and net operating income.

Managing Every DetailOur property management approach includes the design of effective procedural guidelines, the identification, training and motivation of superior personnel, the utilization of real time information systems, and consistent attention to the details of multifamily operations.

How else does Comprehensive Management help transform your bottom line?

Use technology to improve return on relationship

This means advanced tracking systems monitor prospects’ needs, status and next steps. These systems enable resident communications that are both on-time and on-target. The entire management staff stays informed so that any team member can immediately be effective and assist anyone.

Manage expenses activelyLock in budgetary control systems at the purchase order level for active expense management. Getting timely, critical control points for active and continuous management of property expenses will mean a fine-tuned balance between wise expense management and the preservation of property value.

Account for personnel time more accuratelyWe use biometric time clocks for precise and accurate accounting of personnel time. This means more productive onsite employees. Biometric time clocks have been integrated into our process to ensure all employees are fully utilized and correctly compensated with minimum overtime.