Style is Everything!

No, we’re not talking Gucci loafers!  We’ve all seen the sign in the restaurant window “Under New Management”.  Why?  Because there are a lot of styles to management, and the difference can be a make-or-break situation!

What is our style?

World-Class Service

At Full Service Property Management our style is to provide concierge-style, world-class service.  We look for clients who place a priority on value over cost.  Property management is not easy.  We have to wear so many hats.  To wear all of those hats, at the same time, without any mistakes is impossible.  Yes, we make mistakes, too, which is why we work with owners who are sympathetic and understanding.  The difference is we like to think we make fewer mistakes than the “by the numbers” guys.

Providing excellent service requires a lot of communication, and that isn’t always cheap.  How many times have you called a service provider only to be left on hold forever or have to leave a message?  That might be OK with the auto shop or furniture repairman.  But an investment like real estate requires a much higher level of service.   Our service standard is to return every call or email the same day or within 24 hours.  We aren’t 100% on that, but we do our best.

Compassionate Property Management

At the same time, we place a premium on compassionate property management.  The world seems to be getting tougher every day.  Housing has been at the forefront of the news these days.  Rather than exacerbate the problem with a lot of legal mumbo-jumbo, we prefer a softer, more compassionate approach.  We respect tenants’ rights and understand some of the hardships they must endure.  Heck, we were once tenants ourselves!

Going to court doesn’t do anyone any good (except maybe the lawyers!).  Tenants lose.  Owners lose.  We lose.  No one comes out of an eviction looking good.  So let’s avoid it!  We have found that if we treat tenants with respect, and try to help them through their ills, that the situation usually resolves itself or things work out for the better long term.  Too many property managers are slapping notices on doors and harassing tenants.  It is time for a different approach!  Tenants welcome that approach.

A Case Study – Under New Management

In 2016 we took over management of a 38-unit apartment complex.  In the 3 years we managed it we added over $500,000 in value to the property while increasing the owner’s gross income 63% and the net income by 100%!!  The saddest part of this story is that we took over the management of the property from another property management company!  See?  Style makes a difference!

We need to put a footnote with full disclosure.  The owner understood our style and took our recommendations for repairs and upgrades to heart.  She invested ~$100,000 over the course of 3 years.  Working as a team we were able to produce over 500% return-on-investment!

We don’t expect those kinds of returns on every property.  Nor should you.  It was more of an anomaly.  The moral to the story is not all management is equal!!