Third-party Management Services for Multifamily Owners
At providence property management, our strategy is to focus on significantly improving management efforts to maximize value and returns for all of our owners and partners through extensive training, marketing plans, and property auditing. Through our management services, we will drive net operating income, increasing cash flow, and grow property values.
Our property management division offers excellent third-party services to multifamily owners. These multifamily properties are well-performing assets managed and operated within our partnership, and our team of real estate professionals are dedicated to ensuring alignment with our owners’ goals and interests at all times.
As our clients will attest, our extensive experience as apartment owners has given us the expertise to drive net operating income, increase cash flow, and grow property values for our owners and partners.
Infrastructure and Capacity
We are centrally located in birmingham, AL which allows quick travel to all our assets across the southeast. Our property management infrastructure is designed and equipped to efficiently handle the real estate management of any property. Our operation consists of talented individuals in key positions with many years of experience. We value the time and investment of all of our owners and partners. Moreover, we pride ourselves on offering full transparency, utilizing open communication, and engaging owners in significant decisions vital to the success and performance of their assets.
Advantages Of Providence Investments
Our team takes a hands-on approach to training. We use Grace Hill, the industry leader in raising performance. This allows us to improve resident satisfaction, retention, and property reputation. We reduce risk by delivering the most up-to-date compliance training and ongoing compliance risk monitoring. We also offer in-class and online training courseware solely for the Property Management Industry, designed to help people, teams, and companies improve performance and reduce risk.
Our team possesses the in-house accounting capabilities to handle both the day-to-day management of properties and meet the needs of various types of investors. Providence Property Management also utilizes an internal audit function to minimize the possibility of fraud, with periodic audits conducted. All vendor payments, payroll, real estate taxes, insurance payments, management fees, and capital improvements are paid from the home office in Birmingham on a weekly basis. Expenses are classified in accordance with the approved chart of accounts. Budgets are an integral part of our financial reporting. Annual budgets are prepared for each residential property by the Regional Manger along with the Community Manager.
Our team possesses the in-house accounting capabilities to handle both the day-to-day management of properties and meet the needs of various types of investors. We prioritize and take the utmost precautions regarding safety protocol. It is a requirement that monthly, quarterly and annual inspections are performed on each real estate property managed by Providence Property Management in compliance with local, state and federal law and Company practices. Property inspections are completed carefully, with corrective action taken immediately upon the identification of potential or existing hazards, especially issues relating to lighting, fire alarm and sprinkler systems.
Providence Investments concentrates on existing apartment assets in strategic markets where the potential exists to add value over a 5 to 7-year hold. Cary’s Construction, Providence Investments’ construction arm, brings more than 30 years combined experience in new build and rehabilitating multifamily properties nationwide. They are proficient in all construction needs ranging from basic repairs and upgrades to ground up development. Our vision is set in collaborating with developers and property managers to create long-lasting relationships and efficiencies throughout a property’s lifecycle, geared in project conceptualization to construct maintenance and renovations.
Our team completes an annual audit for each community. The audit is to be viewed as a positive, motivating learning tool to add value and satisfy our customers. Any discrepancies are immediately corrected, as each property audit is an integral part of managing the community.
Providence Property Management develops a marketing plan for each community at the time of takeover. This allows for communication and goal setting with the owners of each property. In order to be successful in extremely competitive markets, ownership and management direct focus to areas such as the physical appearance of the property, the professionalism of their staff, outreach marketing, the use of internet marketing based on the areas demographics, and other mileposts. Also, we always make sure we’re retaining residents by offering first-rate customer service
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