COMMUNITY MANAGEMENT

Fully Integrated Management
  • Weekly, monthly, quarterly, and annual statistical and financial reports
  • Annual and long-term operating budgets
  • Annual and long-term capital expenditure plans
  • Customized reports, either on a regular or irregular basis
  • Compliance management services
  • Compliance reporting, including State/Federal Housing Agency and bond administration
  • Semi-annual budget re-forecasting
  • Weekly or monthly calls or meetings with clients to review progress
  • Renovation feasibility studies
  • Revenue management
  • In-depth market and operation analyses with recommendations
  • Community internet marketing exposure
  • Marketing plans
  • Daily, weekly and monthly review of marketing and advertising results
  • Marketing collateral oversight
  • Annual community operations audit
  • IT computer support
  • Risk management assessments
  • OSHA compliance inspections
  • Preparation of year-end 1099’s, W-2’s, Schedule K-1’s, Partner Reports
  • Cash disbursement processing (Web-based invoice processing)
  • Benefit plan administration
  • Web-based leasing tools including live availability, online rent payments, maintenance requests, and rental applications. 
Multi-Family Support Services 

Support services are in place to assist all of the regional and on-site team members to carry out the policies and procedures of Place 10 Residential. Property Managers report to Regional Managers, who, in turn, report directly to our Director of Property Management. Weekly meetings are held on a routine basis with the President. Regional Managers are responsible to visit assigned communities multiple times per month and keep daily contact with their respective Community Managers. Key community operating details are monitored during those frequent calls and visits, including occupancy, rents, availability, turnover and cash flow. The Accounting Controller and President involve themselves as needed to ensure operating goals are met for each asset under management.
Marketing 

Each community demands a detailed leasing and advertising plan to facilitate a successful, cost-effective marketing campaign. Community and Regional Managers identify their target markets and create a marketing campaign to reach that target. Our support services assist in creating advertising design and layout, as well as collateral materials, to ensure the entire marketing campaign is cost effective and appropriate for the target market. Traffic and leasing patterns are analyzed, as are comparable market surveys, resulting in the generation of recommendations for improvements. Our communities receive the benefit of bulk discount pricing offered to Place 10 Residential by its various advertising and website providers.
Project Management & Maintenance 

The Regional Managers identify necessary capital projects at each of their communities. This typically occurs during the annual budgeting process, though it may also take place outside of the budgeting window on an as-needed basis. The Property and Regional Managers work together in the bidding process, vendor assessment, contract review and execution, supervision of contracted services, and risk management. Throughout the entire process, there is direct involvement of the President and Directory of Property Management to ensure consistent reporting. Major capital projects can be supervised for an additional negotiated fee.
Education & Training 

We train our team members using a standard set of materials that draw upon the industry’s best practices developed over decades of experience in multifamily real estate. Our training process has a variety of compulsory and elective classes to enhance not only out team members’ knowledge in community management, but also to provide opportunities to further their careers. In-person classroom instruction and online webinars are utilized. Required courses include fair housing, leasing, non-discrimination practices, labor laws, policies and procedures, and maintenance operations. Additional classes are provided in leadership, writing, dealing with difficult customers, advanced sales, marketing, financial reporting and performance reviews. Separately, computer software classes are available.
Third Party Management 

Place 10 Residential engages in Third Party management not as a primary objective, but in cases where partners and companies share our vision, high quality of operating practices and where it makes for a mutually beneficial business relationship.

Together with our select third party financial partners our firm has helped yield impressive financial results that stem from hard work and diligent effort.  In each occasion, Place 10 Residential has been a proven leader in exceeding Best In Class performance ahead of our competitors at each of these communities.  We strongly belive in being stewards in financial excellence.

CONSULTING & DUE DILIGENCE

New Community Development Consulting Services 
  • Review of the design drawing, site plan and common area amenity recommendations
  • Interior specifications
  • Interior design concepts and FF&E budget
  • Building systems and ongoing maintenance
  • Marketing collateral and website
  • Signage package
  • Comprehensive market survey
  • Pricing recommendations
  • Ancillary income recommendations
  • RUBS and/or sub-metering recommendations
  • Budget process - From inception to stabilization
  • Marketing Plan and implementation
  • Start-up vs. lease-up vs. stabilized cost analysis
Due Diligence Inspection Reports 
  • Forensic market analysis
  • Detailed operating budget
  • Comprehensive unit by unit physical plant inspection
  • Comprehensive unit by unit file and compliance audit
  • Comprehensive community audit of inventory, IT, computer hardware/software

FINANCE

Accounting Services 

Place 10 Residential’s Accounting department is centralized in the Bellevue office, where all financial statements are generated, reviewed, and distributed. Place 10 Residential, through its Entrata software package, offers a wide selection of standard reports, including modified cash or accrual-basis statements. We also have flexibility to provide custom reports to accommodate clients’ needs. Each community benefits from services of both an Accountant and Accounts Payable Specialist, in addition to the overall oversight provided by the Controller.
Revenue Management 

Place 10 Residential is charged with maximizing the revenue potential of each community managed. We have the option of deploying a sophisticated lease rent optimizing tool, a revenue enhancement program, in conjunction with Entrata, our on-site community management system. The Entrata Pricing™ tool effectively prices rents daily based on supply and demand functions, similar to airline pricing models. Day-to-day leasing activity details are analyzed along with occupancy goals, lease expiration, and historical demand trends to stay on the forefront of market trends and thereby maximize revenue. Pricing specialists work in conjunction with the Regional Manager and President in formulating rent assumptions.
Rent Collection 

Rent is collected online by ACH or on-site by checks or money orders. Online automatic, recurring payments are encouraged and preferred. Checks are scanned on-site using an electronic processing system that makes an automatic deposit and uploads into the accounting software program. The data is transmitted nightly to a clearinghouse and credited to the appropriate community’s bank account within 48 hours. A bank statement is received monthly by the Accountant and monthly bank reconciliations are prepared by the Accountant and reviewed by the Controller. However, the Controller has no signing authority on the bank account.
Internal Audit 

In-house audits are performed annually by the Regional Manager and Accounting team who will make unannounced site visits to each community and review compliance with accounting, operating, and management policies and procedures. Changes to federal, state, and local housing laws are monitored through local apartment associations and any modifications to policies and procedures are implemented immediately. All policies are housed online for quick and easy reference by team members.