In addition to multifamily investment services, Madera also offers property management services for our existing clients and third-party owners. Totaling the properties which have been Madera-owned and those under our fee-management control, Madera has redeveloped some 3,500 units with $15 Million of put-in-place capital improvements. These renovation projects range in size from small aesthetic renovations to extensive structural rehabs – with some totaling over $5 Million.
Today’s property management cannot be what it has always been. The markets are constantly changing and property management firms must be able to adapt to meet the needs of that change. As owners ourselves, “we have walked a mile in your shoes.” We take the years of lessons learned “to create solutions that add value.”
Our management strategy is to provide a competitive advantage to our clients by excelling in the areas of:
|· Human Resources
· Customer Service
· Risk Management
Madera incorporates the latest in property management technology for managing your asset. We use Yardi's web-based Voyager product for our property management software needs. This application is state of the art and allows us to work with real time data. This allows us to keep a finger on the pulse of our organization and properties at all times.
Madera understands that every owner is different with different requirements and expectations. We have the flexibility and report writing capability to meet any reporting needs you or a lender may have. We also give access to our owners to review their own data real time like any of our associates. Finally, Madera is committed to being paperless. We send all of our owners their financials through email in PDF Format.
Technology at the property level must provide the type of customer service someone living in today's age expects. We allow a resident to pay their bill on-line, set up monthly automatic debit payments or pay with a credit card, and they can submit work orders.
Training and Education
Madera is a learning organization. If you keep doing what you're doing then you will keep getting what you're getting. Each associate has a career development path. This path does not mean each associate must have a vertical promotion plan. However, each associate is required to grow in their career experiences each year. Even though we sharpen the associate saw regularly, our technology platform has made it possible to provide affordable, quality training on-site.
Madera believes training in the classroom in our industry doesn't work. It must be available to an associate 24/7 when they have time for it or need it. We have partnered with Grace-Hill (www.GraceHill.com) to address a large portion of our training needs. Madera also possesses a state of the art Intranet Site where our associates can go anytime and ask questions, download training materials and complete training tutorials and tests, not only in property management, but also areas like technology, customer service and leadership.
Human Resource Management
The difference in how well one asset performs over another is the on-site team and the leadership provided. We have a motto around our place "what gets measured gets managed". At Madera, we utilize a variety of metrics at every position level to maintain excellence in the service provided.
Lease-Up and Marketing Services
Madera's experience will provide you with the confidence needed for a lease-up project on new construction. All of Madera's regional managers have had success with leasing new construction and major rehab projects. We believe each property manager should be responsible for on-site marketing efforts, but Madera also utilizes a corporate marketing team to provide fresh input on tough leasing challenges.
Madera devotes an entire section of its Intranet Site to marketing ideas. A Manager can access these materials anytime and see new ideas that have worked at other properties they can implement. All properties are encouraged to not only share their marketing ideas, but also to refer prospects to other Madera properties.
Madera, through its size and concerted effort, has created a procurement program involving several key vendors in our industry. These strategic alliances guarantee our company pricing other companies in our industry cannot match. We also have established relationships with these vendors that allow us to draw on their expertise. Madera believes focusing on a few select vendors that truly partner with our company for the betterment of everyone involved is the right way and most efficient way to conduct business in these times.
Madera can help with the design development, estimation and contractual administration of any size multifamily rehab. We have a very detailed set of construction procedures and guidelines that we implement on each and every project - large or small. Given our experience in performing literally dozens of multifamily rehabs, Madera can help with identifying and designing property improvements which equate to increased NOI, cash flow and capital appreciation.
Due Diligence & Feasibility Analysis
Before the day-to-day management begins, we complete a comprehensively exhaustive due diligence process. A detailed analysis of the current property is performed to determine competitive advantages and weaknesses. Comparable properties are then studied to determine correct pricing and leasing strategies. To maintain the long term viability of the asset, a capital plan is created. After reviewing all of the above, a staff assessment is made for any needed changes for asset improvement.
If the property is a potential new acquisition, other critical analysis can be performed to aid the investor in determining if the property meets the desired investment criteria.