Possessing both owner objectives and property needs provides the foundation for a comprehensive business plan that encompasses marketing, financial, physical, and administrative aspects of operating the asset. Our experience with a diverse portfolio of multi-family communities enables us to design a unique and specific approach for managing your property.
Careful analysis of the market area through surveying and shopping competition, communication with other real estate professionals, and ongoing review of traffic, vacancy/move-out status, and weekly status reports gives First Choice managers the data to develop cost effective marketing plans specific to the needs and budget of the property. Resident surveys, careful monitoring of maintenance work orders and lease expiration reports aid us in our resident retention efforts.
From roofline to sewer lines, parking lot to mechanical systems, First Choice managers have the experience and expertise to negotiate major contracts and purchase supplies at competitive prices, while assuring the highest quality work through their diligent supervision. We are well known for tackling both large and small rehab jobs and maximizing income while repositioning the property's place in the market.
Under the supervision of a CPA, First Choice's accounting department operates under well-managed controls, maximizing the accuracy of all data and records. Utilizing Alternative Management Systems, Inc. (AMSI) accounting and property management software in conjunction with reports and procedures internally developed by the company, comprehensive financial reports are produced in a timely manner for owner and manager review. Each report is tightly controlled and linked to a monthly cash flow and P&L statement, which is the operating tool used throughout the year after the annual budget is approved. First Choice Management Group has the capability to develop report formats tailored to its clients' requirements.
Do you need help in determining the viability of a potential investment? First Choice staff can quickly and efficiently analyze a property for you and provide the data you need to make an informed decision. We will provide: a unit walkthrough and needs assessment; rent roll, delinquency, and lease file review; vendor contract review; historical operating statement review; insurance and tax review; market survey and competition shopping; exterior physical condition review; staff review; mechanical systems review. A recommended capital budget and operating proforma can also be provided.